Author Archives
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Trump triumph Stuns Wall Street Elite
New York’s financial community watched in stunned dismay on Wednesday as Republican Donald Trump clinched the White House, from plush penthouse apartments on the Upper East Side to bars in midtown Manhattan, reports Reuters. As donors and supporters of Hillary… Read More ›
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Facebook Agrees to Suspend Using Whatsapp Users’ Data, UK Privacy Watchdog says
After the U.K. watchdog said consumers weren’t properly protected, Britain’s privacy watchdog said on Monday that Facebook has agreed to suspend using data from UK users of its WhatsApp messaging app for advertisements or product-improvement purposes. If the social media… Read More ›
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Amid Currency Crunch, $662 Million of Solar Deal Inked by Egypt
After a currency crisis in the country this year slowed the industry and in a sign that developers are slowly moving forward with clean-energy projects, Egypt has agreed to buy about 400 megawatts of solar capacity. According to Mohamed Salah… Read More ›
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Return of Sparring With Iran Could See Saudis Raising Oil Output Again: Reuters
OPEC sources reportedly said that if Tehran refuses to limit its supply, Riyadh says it could raise oil output steeply to bring prices down, stirring up old disputes between Saudi Arabia and rival Iran which resurfaced at a meeting of… Read More ›
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Possible U.S. Price Fixing Brings Drugmakers Under Fire
Calls to probe whether Sanofi SA, Eli Lilly and Co, Merck & Co Inc and Novo Nordisk A/S colluded to set prices for insulin and other diabetes drugs was made by two prominent U.S. lawmakers who appealed to the federal… Read More ›
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Britain’s Tax Agency Probes One Third of the Country’s Wealthiest People
A report by the U.K.’s National Audit Office (NAO) said that the country’s official tax collection agency is investigating one third of the wealthiest people in the U.K. currently. The tax accounting of the U.K.’s 6,500 richest individuals is studied by… Read More ›
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In Brexit Christmas Pinch, Apple, Electrolux Raise U.K. Prices
By charging more for their products in Britain, Apple Inc. and Electrolux AB responded to the falling pound as the Brexit squeeze on U.K. consumers tightened. While Sweden’s Electrolux said it’s boosting the prices of its home appliances by 10… Read More ›
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Accounting Scandal Results in Tesco Facing £100m Claim from Investors
A group of investors say that the supermarket Tesco made misleading statements to the stock market and as a result the company is facing a claim of more than £100m in damages. Involved in the claim filed by law firm… Read More ›
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After Biggest Banks Write Off Billions, China’s Bad Debt Problem Comes in Emerges
Diminishing hopes that the industry could start to put the worst of China debt problem behind it next year while the non-performing loan (NPL) ratio is still climbing, China’s big five banks are losing money from writing off bad debt… Read More ›
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Price Hikes are Being Mulled by China’s Factory to the World
After years of undercutting rivals with cheaper costs, China’s factories may be on the cusp of delivering a new shock to the global economy. Increases in prices could reverberate around the world this time. Now caught in a squeeze between… Read More ›
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