BUSINESS

BUSINESS

Oil Prices Show Further Decline

Oil prices edged lower at the end of the week on rising supplies from major producers and concerns over a mixed picture on the COVID-19 pandemic’s impact on fuel demand. Brent crude futures for June fell 37 cents to $62.83 a barrel, while U.S. West Texas Intermediate (WTI) crude for May was at $59.24, down 36 cents. Both contracts are […]

BUSINESS

Beijing Is Now The Capital Of Billionaires

Beijing is now said to be not only the Chinese capital but also the capital of billionaires in the world. The Forbes Magazines in its latest report on the rich noted that the Chinese city added 33 billionaires last year and now hosts a total of 100. This narrowly beats the city that never sleeps — New York City, by […]

BUSINESS

Cruise Ship Travel Set To Return In June

Cruise shipping in the Caribbean is set to return June 12, 2021, with the sail of global cruise giants Royal Caribbean International which will set sail from new home port, Nassau, The Bahamas. The cruise line, the second biggest in the world behind Carnival, has announced a summer line-up of seven-night cruises on board ‘Adventure of the Seas’, where “vacationers […]

BUSINESS

The U.S. Sees Rebound In Employment

As vaccination ramps up and relaxation in the COVID-19 protocol, more businesses have brought back workers resulting in a surge in the employment numbers in the U.S. Employers added 379,000 jobs in February, breaking a two-month streak of minimal gains. The growth was stronger than analysts had expected, but the activity did not significantly dent the jobless rate. It dipped […]

BUSINESS

China Targets Six Percent Economic Growth

China is aiming for an economic growth rate above six percent in 2021, after scrapping its target last year. China’s Premier announced its latest target at the opening of this year’s National People’s Congress. The target marks a return to strong growth after the COVID-19 pandemic impacted the world’s second largest economy. Although China’s economy grew last year, it only […]

BUSINESS

Facebook Pledges Billion Dollar Investment In The News Industry

In a report recently, Facebook has pledged to invest at least $1 billion in the news industry over the next three years. The announcement came on the back of Australia’s government move to force tech platforms to pay for third party news content. Media companies have complained for years that they are not fairly compensated for articles and other content […]

BUSINESS

Twitter Set To Double Revenue In 2023

Twitter in a report said it’s looking to double annual revenue to at least $7.5 billion and reach 315 million users in 2023. On the back of that announcement the company’s share climbed by more than 8%. Twitter also said it will increase the number of features to generate an increase revenue and users. The social media platform has been […]

BUSINESS

U.S. Economy Shows Sign Of An Early Bounce Back

U.S. employment growth rebounded moderately in January and job losses in the prior month were deeper than initially thought, strengthening the case for a sizable relief package from the government to aid the recovery from the COVID-19 pandemic. The Labor Department’s closely watched employment report on Friday showed job losses in manufacturing and construction, two sectors which have been propping […]

BUSINESS

China Prepares To Go To War Over Taiwan If Push Comes To Shove

Despite Taiwan’s over 72 years of separation from China and having its own constitution, democratically elected government, and about 300,000 active troops in its armed forces, China still seeks to maintain a stranglehold on the island. China regards Taiwan as a breakaway province, which it has vowed to retake by force if necessary. With the new Biden administration, China has […]

BUSINESS

The U.S. Economy Decreased 3.5 Percent Last Year

The U.S. economy contracted by 3.5 percent last year but performed better than expected and fared better than many other countries. The COVID-19 pandemic has ravaged the U.S. economy, putting many businesses at a standstill, and killing over 430,000 people. Growth in the economy slowed in the last quarter, amidst the resurgence of virus cases, which prompted further setback in […]