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Capitalism is taking some lumps—and not just in the headlines. For only the second year in a decade, both the number of billionaires and their total wealth shrank, proving that even the wealthiest are not immune to economic forces and weak stock markets. By our latest count there are 2,153 billionaires, 55 fewer than a […]
Article by Sean Fleming Senior Writer, Formative Content Can a map save lives? Facebook thinks so. Using satellite photos and artificial intelligence (AI), the company has created a high-resolution map of population density in Africa that it says is more detailed than any of its predecessors. To create the map, publicly available images were broken […]
By Howard Mustoe During the past two years, the pound has had a rough time of things when it comes to its price against the dollar and other currencies. The immediate aftermath of the Brexit referendum saw sterling decline sharply in value. And as the vote on the UK’s withdrawal deal from the European Union […]
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 […]
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 […]
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 […]
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 […]
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 […]
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 […]
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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