Tag Archives: Business

Markets are stabilizing in early trading on Wall Street after being roiled overnight following an Iranian missile attack on U.S. bases in Iraq. The strike was in retaliation for the killing of an Iranian general last week. Stocks opened mostly higher and oil prices retreated after spiking overnight on the …

Crude oil futures topped $70 per barrel in early trading Monday amid rising tensions in Iraq and Iran following the killing of a top Iranian military commander in Baghdad. Benchmark Brent crude futures reached $70.72 early in Monday’s session, up 1.28 percent, before falling back below the $70 mark to …

The governor of the central bank of Lebanon, officially known as Banque du Liban, says efforts are underway to tackle the worsening financial crisis that has caused several businesses to close and many people to lose their jobs amid growing fears about the country’s economic future. “We are solving the …

U.S. shoppers spent more online during this year’s holiday shopping season, a report by Mastercard Inc showed on Wednesday, with e-commerce sales hitting a record high. The holiday shopping season is a crucial period for retailers and can account for up to 40% of annual sales. But this year, Thanksgiving, …

China is in close touch with the United States on signing a Phase 1 trade deal, the country’s commerce ministry said on Thursday, adding that both sides are still going through necessary procedures before the signing. Gao Feng, a commerce ministry spokesman, made the comments to reporters at a regular …

An eight-year-old boy who reviews toys on YouTube has been named by Forbes as the platform’s highest earner in 2019. Ryan Kaji, whose channel Ryan’s World has 22.9 million subscribers, earned $26 million in 2019 — up to $4 million from his earnings in 2018 when he also gained the …

The parent company of Premier League champions Manchester City has announced a £389m investment from US private equity firm Silver Lake. The deal breaks a record in global sports valuations, making holding company City Football Group (CFG) worth £3.73bn ($4.8bn). The US private equity firm is buying around 10% of …

German luxury carmaker Audi said Tuesday it planned to slash 9,500 jobs in Germany by 2025 as part of a massive overhaul to help finance a costly switch to electric vehicles. The job cuts will be achieved through an early retirement programme and natural turnover at its two German plants, …

Bitcoin has fallen beneath the $7,000 psychological price range as global markets took a breather Saturday amid the ongoing trade dispute between the U.S and China. The world’s largest cryptocurrency by market value dropped beneath its temporary supports near the $7,000 price level at around 22:46 UTC (5:46 p.m. New …

U.S. President Donald Trump on Friday said he has ordered American companies to exit China after Beijing unveiled retaliatory tariffs on $75 billion in U.S. goods, throwing a new twist into the bitter trade war between the world’s two largest economies. Trump said on Twitter he will issue a response …

The US government says the economy grew more slowly in 2018 than it previously estimated, downgrading its estimate from 3% to 2.5%. US President Donald Trump had frequently boasted of the 3% growth figure as evidence that his policies invigorated the economy. The US Commerce Department lowered its estimate of …

State-owned Trade Bank of Iraq (TBI) is expanding into China and the Gulf, seeking to lift its revenues from retail banking and international operations to 30% by 2022 from 25% now, its chairman said on Sunday. The bank plans to open a representative office in China next year and is …

Up to 20 million manufacturing jobs around the world could be replaced by robots by 2030, according to analysis firm Oxford Economics. People displaced from those jobs are likely to find that comparable roles in the services sector have also been squeezed by automation, the firm said. However, increasing automation …

US private employers added 27,000 jobs in May, well below economists’ expectations and the smallest monthly gain in more than nine years, a report by a payrolls processor showed on Wednesday. Economists surveyed had forecast the ADP National Employment Report would show a gain of 180,000 jobs, with estimates ranging …

Amazon.com Inc is rolling out machines to automate a job held by thousands of its workers: boxing up customer orders. The company started adding technology to a handful of warehouses in recent years, which scans goods coming down a conveyor belt and envelopes them seconds later in boxes custom-built for …

Iran will continue to export oil despite U.S. pressure aimed at reducing the country’s crude shipments to zero, Iranian President Hassan Rouhani said on Tuesday. “America’s decision that Iran’s oil exports must reach zero is a wrong and mistaken decision, and we won’t let this decision be executed and operational,” …

U.S. economic growth accelerated in the first quarter, but the burst in growth was driven by a smaller trade deficit and the largest accumulation of unsold merchandise since 2015, temporary boosters that are seen weighing on the economy later this year. The surge in growth reported by the Commerce Department …

Apple is giving customers new ways to recycle their iPhones. It’s part of the company’s lofty long-term goal of using only recycled or renewable materials to make its products. On Thursday, Apple released its 2019 Environment Report outlining the steps it is taking to help protect the environment from the …

Pinterest, the online scrapbook company, has priced its shares at the top end of its range as it becomes the latest “unicorn” to make its stock market debut. It will start selling its shares at $19 (£14.50) each, giving the loss-making firm a market value of $10bn. Pinterest is yet …

Cutting the cable cord just got a little more expensive. The price of a YouTube TV subscription is going up by $10 to $49.99 a month. The Google-owned company announced the price hike in a blog post-Wednesday. YouTube said it was raising prices to bring customers “the best service possible.” …