BUSINESS

BUSINESS

The U.S. And China Continue Conflict

The U.S. and China continue to do battle on the following fronts: Punitive tariffs placed by the U.S. on about $370bn worth of Chinese imported goods, and retaliatory levies by China Accusations that Chinese telecommunications equipment maker Huawei Technologies helps Beijing snoop on its rivals The coronavirus A row over Beijing’s move to impose a security law on Hong Kong […]

BUSINESS

China Sees Economic Recovery Amid COVID-19 Pandemic

China’s economic recovery accelerated in the third quarter as consumers shook off their coronavirus caution, although the weaker-than-expected headline growth suggested persistent risks for one of the few drivers of global demand. Gross domestic product (GDP) grew 4.9% in July-September from a year earlier, official data showed on Monday, slower than the projection by analysts but faster than the second […]

BUSINESS

Commonwealth Finance Ministers Appeal For Help

Commonwealth finance ministers, including those from the Caribbean, made an appeal recently for the G20, Paris Club, World Bank, and International Monetary Fund to extend financial support to vulnerable nations. This call comes against the deep and widespread economic impact of the COVID-19 pandemic that is creating havoc on developing and underdeveloped countries. In a joint statement, the 54 member […]

BUSINESS

Microsoft Joins Work From Home Movement

Microsoft Corporation, the American multinational technology giant has now been listed among a new group of companies that is offering workers the option of working from home permanently. The company recently told staff that they will have the option of working from home permanently with managers’ approval. Companies such as Facebook and Twitter have already approved remote work as a […]

BUSINESS

IBM Seeks New Strategy For Marketing Repositioning

International Business Machines Corporation, the American cloud platform, and cognitive solutions multinational technology and consulting company is splitting itself into two public companies. This move comes after years of attempting to remake itself and regain its leading position in the technology space. IBM will list its IT infrastructure services unit, which provides technical support for 4,600 clients in 115 countries […]

BUSINESS

U.S. Jobs Fall Lower Than Expected

The U.S. added fewer jobs than expected in September in a sign that America’s rebound from the economic collapse triggered by the coronavirus pandemic is slowing. Employers added 661,000 jobs against the more than 800,000 expected. The jobless rate fell to 7.9 per cent, dropping for a fifth month, but the minority workers hit hardest saw minor change. The gains […]

BUSINESS

Airbnb Goes To Market To Raise US$3 Billion

Home rental company Airbnb Inc is aiming to raise around US$3 billion in its upcoming initial public offering (IPO). Airbnb will be one of the largest and most anticipated U.S. stock market listings of 2020 which has already been a blockbuster year for IPOs. The company’s current plan is to make its filing publicly available in November after the U.S […]

BUSINESS

H&M Set To Close 250 Stores World-wide

Hennes & Mauritz AB, the Swedish multinational clothing-retail company, known for its fast-fashion clothing for men, women, teenagers, and children, plans to cut 250 of its stores globally. H&M operates in 74 countries with over 5,000 stores under the various company brands, with 126,000 full-time equivalent positions. The planned closures will come next year after the firm said the COVID-19 […]

BUSINESS

Bahamas Expresses FATF Blacklist Concerns

Bahamas Attorney General Carl Bethel said recently that the country faces the immediate imposition of a potentially devastating blacklisting by the European Union, effective October 1. Bethel said the Bahamas will likely remain on the Financial Action Task Force (FATF) gray list until at least February 2021. He said this pandemic has totally derailed efforts to get off this blacklist. […]

BUSINESS

JPMorgan Set To Move $234 Billion In Assets From UK

According to Press reports, JPMorgan Chase & Co is seeking to move about $234 billion of assets from the United Kingdom to Germany as a result of Britain’s exit from the European Union. In January, the bank had also announced it would significantly expand its Paris hub as part of plans to relocate some services from London after Brexit. The […]