BUSINESS

BUSINESS

U.S. Slams Break On Huawei’s Tech Progress

The U.S. federal government has unveiled a new rule set to restrict the sales of chips to Huawei. The rule requires foreign manufacturers using U.S. chipmaking gear to get a license before being allowed to sell semiconductors to Huawei. In an interview on Yahoo Finance’s On The Move, Huawei CTO Carrier Business Group Paul Scanlan argued that Washington’s move not […]

BUSINESS

U.S. Trade Deficit Widens

The U.S. trade deficit widened by almost 12% in March as the coronavirus pandemic takes a toll on the country’s exports and imports. Imports fell 6.2%, but U.S. exports sunk at an even deeper 9.6% to cause the trade gap to rise. It’s the highest monthly decline in exports ever recorded. The U.S. deficit rose to $44.4 billion in March […]

BUSINESS

U.S. Wants Money — Trillions!

The United States is looking to borrow a record US$3 trillion in the second quarter of the year. The country’s economy and budget have taken a battering because of the crisis brought on by COVID-19. The sum is more than five times the previous quarterly record, set at the height of the 2008 financial crisis. In all of 2019, the […]

BUSINESS

U.S. Stock Market Takes Another Battering

Wall Street’s main stock indexes were gutted today as the Dow Jones Industrials tumbled by 2,000 points amid a 20% slump in oil prices. Additionally, the rapid spread of the coronavirus has not made it easy for traders as the threat of a global recession now seems real than imagined. Trading was halted immediately after the opening, as the benchmark […]

BUSINESS

China’s Economy Takes Big Hit

Factory activities in China are at an all-time low; it fell at a record rate in February as manufacturers closed their operations to contain the spread of coronavirus. The country’s official measure of manufacturing activity – the Purchasing Manager’s Index (PMI) – dropped to 35.7 from 50 in January. China makes up a third of world manufacturing and is the […]

BUSINESS

Global Stocks Blowout

The global stock market slid to its worst week since the depths of the financial crisis in 2008. This crisis comes against fears that the coronavirus could become a pandemic and derail economic growth. The S&P 500, with a midweek record high, slid 4.4 percent, its worst day since August 2011. The index is down 12 percent since that peak, […]

BUSINESS

Japan’s Economy Running Out Of Heat

Japan’s economy sees its fastest rate decline in five years at the end of 2019. The country has been hit by a sales tax rise, a major typhoon, weak global demand, and the threatening coronavirus plaguing that part of the world. Annualized gross domestic product (GDP) showed a greater decline than anticipated, a 6.3% in October-December. Analysts are also speculating […]

BUSINESS

Kraft Heinz Takes Hit As Consumers Shun Processed Food

A shift in consumer preference for freshly produced products over-processed foods is putting Kraft Heinz under pressure to catch up with consumers’ needs. The company reported fourth-quarter sales recently shows a five percent dip in sales, falling short of Wall Street’s forecasts. Although earnings beat analysts’ estimates, shares of Kraft Heinz have shown a eight percent decline. The stock is […]

BUSINESS

U.S. Prosecutors — Huawei Stealing Trade Secrets

U.S. prosecutors have charged that Huawei is not only stealing trade secrets but also helping Iran track to protesters. This latest indictment against the Chinese company has given rise to tension between the U.S. and China over the use of Huawei’s technology. The new inditement has overtaken one already unsealed last year in federal court in Brooklyn, New York, Huawei […]

BUSINESS

YouTube Hits It Big In Revenue

Google for the first time has revealed its YouTube platform as the golden goose in terms of its advertising revenue generation. The company announced that YouTube generated $15.1 billion in ad revenue in fiscal 2019, including $4.7 billion in the fourth quarter. The company disclosed the numbers in its quarterly earnings report, which also included fiscal 2019. Pollyanna Davy, Readers […]