BUSINESS

BUSINESS

US Black Friday Crowds Thin Despite Deals

Black Friday crowds in the U.S. have been described as “thin” despite attractive deals and discounts. Inflation-weary shoppers were expected to flock to Black Friday sales in record numbers. However, on what has traditionally been one of the busiest shopping days of the year, thin crowds were seen outside stores in a number of states. Many Americans who opened their […]

BUSINESS

UK Sees Drop In Living Standard

The Living standards in the UK has a taken a nosedive as the rise in cost of living takes a toll on people’s wages. Reports indicate that household incomes would be lowered by 7 percent in coming years once rising prices continue to impact household incomes. The number of people who are unemployed is also expected to rise by more […]

BUSINESS

Oil Prices Slip

Oil fell more than $2 per barrel on Friday, on track for a second weekly decline, as investors worried about weakening Chinese demand and further increases in US interest rates. Brent crude was down $2.80 at $86.97 per barrel. US West Texas Intermediate crude was down $2.79 at $78.85. Support The Readers Bureau Buy A T-Shirt Today (4 different colors)! […]

BUSINESS

Twitter Offices On Lockdown Temporarily

Twitter has told employees that the company’s office buildings will be temporarily closed, with immediate effect. Workers were told that the offices would reopen on Monday, November 21. It did not give a reason for the move. The announcement comes amid reports that large numbers of staff were quitting after new owner Elon Musk called on them to sign up […]

BUSINESS

G7 Flex Its Muscles At Russia

The Group of Seven (G7) countries, which represents the world’s most advanced economies, has agreed to set a fixed price for Russian oil. The G7 coalition says floating rates on seaborne oil shipments will be phased out by the end of the month. The actual price has not been set but should be announced in the coming weeks. The price […]

BUSINESS

U.S. Job Growth Shows Letup In Pace

Although job growth continues in the U.S., there is a dip in pace as rising prices and higher borrowing costs have put the economy in a spot of bother. The U.S. Labor Department, in its recent report, noted that employers added 261,000 jobs in October, while the unemployment rate rose slightly to 3.7%. The news comes as the economy remains […]

BUSINESS

The World Bank — Brace For Higher Prices

According to press reports, the World Bank has warned that developing countries are to brace for higher food and commodity prices. It says the shrinking value of the currencies is driving up food and fuel prices, which could further deepen the food and energy crises. It noted that because of currency depreciations, almost 60 percent of oil-importing emerging-market and developing […]

BUSINESS

ExxonMobil Sets Profit Record

America’s largest oil company ExxonMobil set a profit record for the second-straight quarter as oil and gas prices remained high. No. 2 US oil company Chevron also posted much-better-than-expected results. ExxonMobil earned $18.7 billion, excluding special items, up 6% from the second quarter results, which had been the record, and up 177% from a year ago. Earnings per share of […]

BUSINESS

Musk Completes $44 Billion Twitter Deal

Twitter has confirmed in a securities filing that Elon Musk has completed his $44 billion acquisition of the company. This has put the world’s richest man in charge of one of the world’s most influential social media platforms. Twitter said the deal “became effective” on Thursday, as part of a filing notifying its intention to de-list from the New York […]

BUSINESS

Commonwealth Finance Ministers Call For Change

At a meeting of Finance Ministers of Commonwealth Countries, a call has been made for a more holistic review of rules governing the global financial system. The ministers opined that a number of the fiscal rules are no longer relevant to today’s economic settings and expressed the views that many of the rules are skewed against small states. Additionally, they […]