BUSINESS

BUSINESS

Aluminum Prices Land Nine-Year High

Aluminum prices on the London Metal Exchange reached a nine-year high May 10 when it reached $2,565 per metric ton.  Since then, prices dropped below the $2,500 per metric ton mark, averaging $2,434 throughout May. Aluminum futures were trading around the $2,470 per ton level in June, not far from a three-year high of $2,548 mark in April, with markets […]

BUSINESS

Guyana Keeps Gushing Oil

Oil company giant ExxonMobil recently reported its twentieth oil discovery on the offshore of Guyana. The latest find was made at the Longtail-3 site in the Stabroek Block. Vickram Bharrat, Guyana’s Minister of Natural Resources with responsibility for the Petroleum Sector, said the discovery will add to the previously announced gross discovered recoverable resource estimate for the block, which is […]

BUSINESS

Data Breach Puts McDonald’s In A Spot Of Bother

McDonald’s, the American fast food giant company and world’s largest restaurant chain by revenue, is one of the latest companies to be hit by a data breach that has exposed customers’ details. According to reports, the fast food chain experienced a cyberattack in which the attackers gained access to a small number of files on customers in South Korea and […]

BUSINESS

Carnival Cruise Line Gets Ready To Sail In July

Carnival Cruise Line is preparing for July sailings from U.S. ports once again. The U.S. Centers for Disease Control and Prevention (CDC) has recently accepted the company’s port agreements for the Port of Miami, the Port of Galveston, and Port Canaveral. In a statement, Carnival noted that these are essential ports for its business and the three where the company […]

BUSINESS

Trump — Bitcoin Is A “Scam”

Former U.S. President Donald Trump in a report said he views Bitcoin as a “scam” impacting the value of the U.S. dollar. “Bitcoin, it just seems like a scam,” Mr. Trump said. “I don’t like it because it’s another currency competing against the dollar,” he added. Mr. Trump shared on a business program that he wishes to see the U.S. […]

BUSINESS

YouTube In Multibillion-Dollar Payout

YouTube, the social media platform owned by Google, has disclosed that the platform paid out over US$4 billion to artists, songwriters, and rights-holders over the last 12 months.  The company generated $19.78 billion from advertising during 2020. According to Lyor Cohen, the global head of music, the money is generated from YouTube ads, YouTube Music, and YouTube Premium subscriptions. The […]

BUSINESS

U.S. Business Alliance Formed To Oppose Biden’s Tax Proposal

U.S. business groups have teamed up to form an alliance that would oppose any new tax increase by the Biden administration. The alliance includes twenty-eight industry groups that have created a coalition called “America’s Job Creators for a Strong Recovery.” Eric Hoplin, president and chief executive of the National Association of Wholesaler-Distributors, which is leading the coalition, reportedly said, “The […]

BUSINESS

The Invisible Hand Lifts U.S. Inflation Up

The U.S. inflation jumped in April from a year earlier as the economic activities picked up following the uptake in vaccination and tapering of the COVID-19 pandemic. Consumer prices surged 4.2% in the 12 months through to April, up from 2.6% in March and marking the biggest increase since September 2008. The latest report from the U.S. Labor Department comes […]

BUSINESS

Global Stock Markets Takes A Hit

With the expectation of a rise in inflation in the U.S, stock markets worldwide took a nosedive with major US indexes falling more than one percent on Tuesday. Meanwhile, European bourses saw steep declines on fears among traders that rising consumer prices could push up interest rates. The UK’s benchmark share index, the FTSE 100, closed 2.47 per cent lower. […]

BUSINESS

Peloton Recalls Treadmills

Peloton the exercise equipment company has announced a recall of its treadmills. The move comes against the backdrop of reported multiple injuries and the death of a child in an accident. The company had initially denied reports of the danger of using its exercise equipment. Chief Executive Officer John Foley, however, has now apologized for the company’s initial reaction to […]