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Friday, August 14, 2020

BlackRock punishes 53 companies over climate inaction

BlackRock has punished more than 50 companies from US oil major ExxonMobil to Swedish carmaker Volvo over their lack of progress on tackling global warming, six months after it warned of huge investment risks from climate change. Larry Fink, chief executive of the $6.8tn investment...

UK-China relations: from ‘golden era’ to the deep freeze

n the autumn of 2015, on a mission to Beijing that would pave the way for President Xi Jinping’s triumphal state visit to the UK that October, George Osborne employed a phrase that has come to haunt Sino-British relations. Looking to the future, the...

Investors yank $500m from super-leveraged US tech fund

An exchange traded fund designed to amplify the moves of red-hot US tech stocks has just suffered its worst ever week of outflows, suggesting that investors are growing wary of highly stretched valuations. Investors pulled $491m from the ProShares UltraPro QQQ ETF last week in...

Wall Street edges higher as earnings season kicks off

Wall Street stocks inched higher on Tuesday, as investors assessed an opening foray in a quarterly earnings season that will guide them on the pace of the US economic recovery. The S&P 500 was up 0.5 per cent at lunchtime in New York as gains...

Apple wont pay $15 billion in Irish taxes, EU court rules

The European Commission said in 2016 that Ireland had enabled Apple to pay “substantially less tax than other businesses over many years.” But the EU’s general court decided that the commission failed to prove that the Irish government had given the U.S. tech...

Is China Ready to Decouple Dollar Dependence?

As trade and political tensions escalate between China and the US, there are increasing calls in China to reduce dependence on the dollar. Washington is threatening to impose secondary sanctions on Chinese financial institutions servicing people on the US sanctions list and considering delisting Chinese...

Global Population May Shrink Dramatically, Prompting ‘Economic Power Shift’, Claims Report

Moscow, July 15, 2020 (Sputnik/Naija247news) A group of scientists says the number of people will peak in 2064 and drop to about 8.8 billion by 2100, which is two billion less than under the UN’s estimate. The group of international scientists has made a world...

Elon Musk gets tax breaks for Tesla, if he builds a $1.1 billion car plant near Austin

Travis County in Texas has voted to give the electric car maker millions in tax breaks to build a new car plant, and eventually employ thousands, near the Austin airport. Elon Musk’s electric car company has also considered building a new plant in Tulsa. Travis County...

Alibaba’s Jack Ma sells $8.2 bn worth shares, stake dips to 4.8%: filing

Alibaba Group Holding Ltd co-founder Jack Ma has cut his stake in the company over the past year to 4.8 per cent from 6.2 per cent, cashing out around 8.2 billion dollars at its current share price, the firm’s annual filing released on Friday...

Media giants and technology companies are having an identity crisis

Distribution and content companies are redefining themselves because the definition of distribution is changing with broadband-connected television. There are multiple levels in which media and technology companies can play. Choosing a path dictates content spend and acquisition strategy. Media companies are having an identity crisis. And, just...
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