BUSINESS

BUSINESS

Children In China Get Time Limit On Douyin

In China, children will only be allowed to be on the TikTok workalike Douyin for 40 minutes a day. The rules will affect children under 14, who have been authenticated using their real names, and who will be able to access it between 06:00 and 22:00. This move comes against the backdrop of the Chinese government’s attempt to crack down […]

BUSINESS

Oil Prices Drop

Oil prices fall two percent yesterday as investors grew more risk-averse, which hurt stock markets and boosted the U.S. dollar, but oil drew support from signs that some U.S. Gulf output will stay offline for months due to storm damage. Brent crude fell $1.42, or 1.9%, to settle at $73.92 a barrel after sinking to a session low of $73.52. […]

BUSINESS

‘Doing Business Report’ Put On Halt — World Bank

The World Bank has decided to put a stop to the publishing of its annual ‘Doing Business’ report. This comes against the backdrop of allegations of unethical behavior of current and former members of staff involved in its preparation. According to a World Bank commissioned inquiry report, the IMF Managing Director Kristalina Georgieva directed efforts to artificially boost China’s ranking […]

BUSINESS

Rising COVID-19 A Set Back For U.S. Airlines

Following a brisk resumption in travel, airlines are again in a spot of bother as the rise in the Delta variant of the COVID-19 begins to take its toll. The industry has seen a drop in bookings after a strong summer start. Delta Air Lines CEO Ed Bastian said people are still traveling, but key segments — business and international […]

BUSINESS

Yahoo Gets New CEO

Yahoo has hired Tinder’s top executive to become its new chief executive officer. Jim Lanzone is set to take up his new position on September 27. He is succeeding Guru Gowrappan, who has led Yahoo since 2018 and will now shift to a senior adviser role. The move comes just four months after Verizon announced it would sell Yahoo to […]

BUSINESS

Oil Prices Up

Oil prices climbed at the start of the week to a one-week high in a second straight session of gains, as concerns over U.S. supplies following damage from Hurricane Ida supported the market, along with expectations for higher demand. Brent crude for delivery in November rose 48 cents, to US$73.40  a barrel to kick off this week’s trade. U.S. West […]

BUSINESS

U.S. Economy Shows Jobs Decline In August

The U.S., economy added fewer jobs than expected in August as employment rose by 235,000 much less than anticipated pundits. It shows a dramatic decrease from that of the 1.05 million jobs created in July. The report suggests that the recovery from the pandemic may be on a downturn. That said, the unemployment rate fell to 5.2% in August from […]

BUSINESS

IMF Up The Ante In Lending Capacity

The board of governors of the International Monetary Fund (IMF) on Monday gave the approval to increase the institution’s lending capacity by US$650 billion, the last step in approving an initiative to boost aid to the most vulnerable countries. In a statement, IMF head Kristalina Georgieva said the increased limit will help countries struggling to cope with the impact of […]

BUSINESS

Vanguard Doles Out Cash To Workers Who Get Vaccinated

Vanguard’s workers are set to receive $1,000 if they get vaccinated. The top U.S. investment firm will make the payout to staff once they proved that they have been jabbed by October. Staff would still qualify if they were inoculated before the company made its offer. The move by Vanguard comes against the backdrop of the new Delta variant and […]

BUSINESS

Eurozone Shows Economic Growth

The eurozone’s economy shows two percent growth for the first six months of the year thus removing any sign of a recession. The latest economic figures indicate growth in individual national economies which reported data. The 19-nation bloc had experienced serious setbacks following the negative impact of the COVID-19 pandemic on their respective economies. However, the eurozone remains three percent […]