Business news

Is Jeff Bezos really serious about beating climate change?

If you had a billion dollars and wanted to do something about climate change, what would you do? For a handful of people, this is not a rhetorical question. A Instagram post Earlier this month, Amazon founder Jeff Bezos – announcing he had scattered $ 791 million across various climate charities – is the latest… Continue reading Is Jeff Bezos really serious about beating climate change?

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US initial jobless claims rise for the second week in a row

First-time unemployment claims jumped to 778,000 last week, the latest worrying sign of declining dynamics in the U.S. labor market as it grapples with a new wave of coronavirus cases and a decrease in budget support. The increase to 30,000 weekly jobless claims was accompanied by a slight decrease in claims for federal unemployment assistance… Continue reading US initial jobless claims rise for the second week in a row

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Bill Browder threatens legal action over Swiss bank accounts linked to Magnitsky scandal

Senior Kremlin critic and investor Bill Browder has threatened Credit Suisse and UBS with legal action for violating US sanctions if they unblock the accounts of three Russian clients accused of massive tax evasion against his company of investment. The two Swiss banks hold assets worth more than $ 24 million, which Browder says were… Continue reading Bill Browder threatens legal action over Swiss bank accounts linked to Magnitsky scandal

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EY faces mounting pressure to disclose Wirecard details to German parliament

EY partners face increasing pressure to provide detailed evidence to the German parliament about a decade of their Wirecard audit work after the board of directors of the late payment provider released the Big Four company from its duty of confidentiality. EY said she may decline to testify ahead of Thursday’s parliamentary inquiry into the… Continue reading EY faces mounting pressure to disclose Wirecard details to German parliament

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UK grip on European derivatives at risk in fight over post-Brexit rules

EU regulators have refused to ease rules on swap trading by EU banks in the UK, threatening London’s retention after Brexit in a $ 50 billion derivatives market euros per year. The Paris-based European Securities and Markets Authority said on Wednesday that EU banks operating in London will continue to be subject to Brussels regulation… Continue reading UK grip on European derivatives at risk in fight over post-Brexit rules

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Departing ECB hawk draws red lines for fresh policy stimulus measures

Yves Mersch is preparing to take a definitive stand as one of the hawks of the waning European Central Bank’s conservative monetary policy by resisting any broadening of its stimulus measures to buy a wider range of assets than she doesn’t already. The 71-year-old is the longest-serving member of the ECB’s governing council, which he… Continue reading Departing ECB hawk draws red lines for fresh policy stimulus measures

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Children’s media groups teach streamers to adopt new approach

It all started with Ryan Lee thinking there were too many bees, butterflies and rabbits in children’s music: why not have a song about a “ferocious” animal like a shark? Four years later, “Baby Shark”, the contagious and catchy song about a youngster and his family, has been streamed over 7 billion times on YouTube,… Continue reading Children’s media groups teach streamers to adopt new approach

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BaFin ignored Bundesbank concerns over Wirecard short selling ban

In early 2019, German financial watchdog BaFin dismissed objections raised by the Bundesbank against its controversial two-month ban on bypassing Wirecard shares. Approaching the Draconian intervention that was imposed in February 2019, the German central bank told BaFin that the move could not be justified on the grounds that it jeopardized financial stability, according to… Continue reading BaFin ignored Bundesbank concerns over Wirecard short selling ban

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Tesla’s S&P 500 debut set to electrify Wall Street

Tesla’s inclusion in the S&P 500 next month is expected to spark a trading frenzy, with Wall Street bracing for billions of dollars in stocks to change hands when the stock enters the index. The electric car maker’s debut on the S&P 500 will be the biggest on record, instantly making Elon Musk’s company one… Continue reading Tesla’s S&P 500 debut set to electrify Wall Street

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Vaccinating a nation: can Biden manage America’s biggest health project?

Across the United States, vast “freezer farms” are popping up – warehouses containing row after row of ultra-cold storage equipment designed to house a vaccine against Covid-19 when we are approved. These warehouses are the most visible sign of a new supply chain set up within months, as government officials and private companies prepare for… Continue reading Vaccinating a nation: can Biden manage America’s biggest health project?