Financial & Business updates

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Is The World Going into Recession?

Is The World Going into Recession?

By Zanny Minton Beddoes JUST a year ago the world was enjoying a synchronised economic acceleration. In 2017 growth rose in every big advanced economy except Britain, and in most emerging ones. Global trade was surging and America booming; China’s slide into deflation had been quelled; even the euro zone was thriving. In 2018 the […]

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US economic growth hits fastest rate since 2014

US economic growth hits fastest rate since 2014

The US economy grew at its fastest pace in nearly four years in the second quarter, expanding at an annualised rate of 4.1%, official figures show. The gains were driven by strong consumer spending and a surge in exports as firms rushed to beat new trade tariffs. US President Donald Trump described the acceleration as […]

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Facebook officially loses $123 billion in value

Facebook officially loses $123 billion in value

Article by Romain Dillet In what could be the biggest one-day drop of all time, Facebook shares opened at $174.89, down 19.6 percent compared to yesterday’s closing price of $217.50 (NASDAQ:FB). When it comes to market capitalization, Facebook  was worth $629.6 billion yesterday. The company is now worth $506.2. In other words, Facebook has lost $123.4 billion in value […]

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High fines, meagre results: Google’s Android fine is not enough to change its behaviour

High fines, meagre results: Google’s Android fine is not enough to change its behaviour

The European Commission is right to tackle the tech titans, but its remedies are wanting HOW high can they go? On July 18th the European Commission hit Google with a record fine of €4.3bn ($5bn) for entrenching its dominance in internet search by illegally tying together this service and other mobile apps with Android, the […]

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Jeff Bezos is the Richest Person in Modern History.

Jeff Bezos is the Richest Person in Modern History.

The Amazon.com Inc. founder’s net worth broke $150 billion in New York on Monday morning, according to theBloomberg Billionaires Index. That’s about $55 billion more than Microsoft Corp. co-founderBill Gates, the world’s second-richest person. Bezos, 54, has now topped Gates in inflation-adjusted terms. The $100 billion mark that Gates hit briefly in 1999 at the height of […]

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A $15 Billion Oil Bet Is Tough Challenge for Richest African

A $15 Billion Oil Bet Is Tough Challenge for Richest African

Aliko Dangote has made a fortune out of cement and food processing. Now, Africa’s richest person is embarking on a bigger challenge: a $15 billion investment in oil, gas and petrochemicals that could, if he pulls it off, transform Nigeria’s economy. The 61-year-old is building one of the world’s biggest oil refineries near Lagos, the commercial capital. He’s […]

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Greens push for change to $20,000 instant asset write-off to encourage SMEs to embrace renewable energy

Greens push for change to $20,000 instant asset write-off to encourage SMEs to embrace renewable energy

In an unexpected move, the Australian Greens party have attempted to push an amendment to the highly popular instant asset write-off for small businesses through the House of Representatives, seeking an additional write-off scheme with a higher expenditure limit for clean energy assets. As part of debate last week on the Treasury Laws Amendment Accelerated Depreciation […]

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Australian shares higher on financial rebound ahead of trade tariff deadline

Australian shares higher on financial rebound ahead of trade tariff deadline

Australian shares advanced for just the third time in ten sessions as modest gains by the big bank stocks offset losses among the major miners following a retreat in base metals prices. The S&P/ASX 200 index lifted 32.1 points, or 0.5 per cent, to 6215.5, following a quiet overnight trading session as Wall Street which […]

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US Investigates Glencore over Alleged Corruption in Nigeria, Others

US Investigates Glencore over Alleged Corruption in Nigeria, Others

The United States authorities have demanded the US arm of Glencore Plc to hand over documents relating to its business in Nigeria, the Democratic Republic of Congo (DRC) and Venezuela. The Swiss-based commodities trader and miner said yesterday, that it received a subpoena from the US Department of Justice requesting documents and records on compliance […]

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US-China Trade War could Flood India with Steel

US-China Trade War could Flood India with Steel

This article was prepared by Economic times-India correspondents  – Swansy Afonso and Bhuma Shrivastava Indian companies are bracing for a possible flood of steel imports should the U.S. and China follow through on their threats about a trade war. Duties imposed by the U.S. would trigger “trade diversion” from other steel makers, who would then […]

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