BUSINESS

BUSINESS

Canada Hits Back At Trump’s Aluminum Tariffs

Following a 10 % tariff on some Canadian aluminum products by President Trump, Canada has hit back with an announced $2.7bn tax on U.S. aluminum products. Canada and the U.S. reached a deal last year to lift tariffs on steel and aluminum imports. However, President Trump reintroduced the tariff in the latter of this week, claiming U.S. industry protection. Speaking […]

BUSINESS

U.S. Unemployment Still A Spot Of Bother

The COVID-19 pandemic continues to play havoc with the U.S. economy as unemployment numbers remain high. Although the rate fell from a high of 14.7% in April to 10.2% in July, it remains a concern. The high unemployment figures call for government intervention to boost economic activities. The Republicans and the Democrats continue to be at loggerhead on the role […]

BUSINESS

Zuckerberg Hits The $100 Billion Mark

Facebook founder Mark Zuckerberg has now joined the ranks of Jeff Bezos — Amazon  and Bill Gates — Microsoft as a tech ‘Centibillionaires.’ The 37-year-old media magnate, internet entrepreneur, and philanthropist has seen his wealth rise to $100 billion after launching a new short-form video feature. Late this week, Facebook announced the U.S. rollout of Instagram Reels, its rival to […]

BUSINESS

Gold Prices Up To A Record Level

Gold prices surge to a record high of $2,000 an ounce for the first time as traders look for places to earn value amid the pandemic. Investors have moved cash into the precious metal as Covid-19 cases rise in the U.S., and more money is pumped into the global economy. Prices of other precious metals, including silver, have also risen […]

BUSINESS

Apple — The Most Valuable Public Company In The World

Apple Inc., the American multinational technology company with its headquarter in Cupertino, California, is now reported as the most valuable company in the world. The company designs, develops and sells consumer electronics, computer software, and online services. The company’s shares jumped more than 10% last after the company reported earnings, reaching an all-time high. The stock rose another 2.5% on […]

BUSINESS

U.S. Consumer Confidence Takes A Nosedive

U.S. consumer confidence fell more than expected last month, given the resurgence of COVID-19 in many different states. The infectious plague continues to play havoc within the economy without any immediate end. The latest survey paints an ugly picture of consumers’ negative outlook on the economy’s prospects over the next six months. The consumer confidence index showed a drop of […]

BUSINESS

Microsoft Seeks To Put The ‘B’ In TikTok

TikTok, the Chinese video-sharing social networking service owned by ByteDance, a Beijing-based Internet technology company founded in 2012 by Zhang Yiming, has found itself in the Trump administration’s crosshairs. “As far as TikTok is concerned, we’re banning them from the United States,” President Trump reportedly said. Meanwhile, a spokesperson for TikTok said in a statement that the app is a […]

BUSINESS

China Sees Economic Recovery

China’s economy is bouncing back and is described as a “V-shaped recovery,” — a quick and sustained recovery in measures of economic performance after a sharp economic decline. The world’s second-largest economy performed much better than analysts expected as reports show a rapid turnaround in the second quarter as coronavirus lockdowns were eased, allowing factories, shops, and restaurants to resume […]

BUSINESS

The Oldest Men’s Store In U.S. File For Bankruptcy

Brooks Brothers, the oldest men’s clothier in the United States and headquartered on Madison Avenue in Manhattan, New York City, has filed for Chapter 11 bankruptcy protection. Founded in 1818 as a family business, the privately-owned company is owned by the Italian billionaire Claudio Del Vecchio. The brand also produces clothing for women, and Zac Posen has been its creative […]

BUSINESS

Netflix Set To Invest In Black-Owned Banks

Netflix has announced that it will be investing in Black-owned banks to help close the wealth gap between Black and White America. The media-services provider and production company headquartered in Los Gatos, California, plans to deposit two percent of its cash, or an estimated $100 million, into Black-owned financial institutions and community development organizations. The company argued that these institutions […]