Month: October 2024
Mining giant Fortescue says it’s time to walk away from the ‘proven fantasy’ of net zero
Andrew Forrest, chairman of Fortescue Metals Group Ltd., during the Asia-Pacific Economic Cooperation (APEC) CEO Summit in San Francisco, California, US, on Thursday, Nov. 16, 2023. Bloomberg | Bloomberg | Getty Images Australian mining tycoon Andrew Forrest, founder and executive chairman of Fortescue, says it is time for the world to walk away from the […]
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Goldman-backed Starling Bank hit with $38.5 million fine for financial crime prevention failures
The Starling Bank banking app on a smartphone. Adrian Dennis | AFP via Getty Images U.K. financial regulators hit British digital lender Starling Bank with a £29 million ($38.5 million) fine over failings related to its financial crime prevention systems. In a statement on Wednesday, London’s Financial Conduct Authority said it had fined Starling “for […]
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Yale’s Stephen Roach: Markets are in danger of being ‘whipsawed’ by Middle East conflict, U.S. unemployment
01 October 2024, Israel, Tel Aviv: Missiles launched from Iran are seen in the sky over Tel Aviv. Ilia Yefimovich/dpa | Picture Alliance | Getty Images Markets are in danger of being “whipsawed” by the combination of regional conflict in the Middle East and rising unemployment in the United States, says Stephen Roach, senior fellow […]
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UK’s JD Sports shrugs off Nike woes with multi-brand approach
LONDON, ENGLAND – JUNE 11: Shoppers walk past JD Sports King of Trainers retail shop on Oxford Street on June 11, 2018 in London, England. (photo by John Keeble/Getty Images) John Keeble | Getty Images News | Getty Images British sportswear retailer JD Sports Fashion is confident it will meet annual profit forecasts after its […]
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Facebook owner Meta forms data-sharing pact with UK banks to counter scams
Jakub Porzycki | Nurphoto | Getty Images Facebook parent company Meta on Wednesday said that it’s working with two leading banks in the U.K. on an information-sharing arrangement to help protect consumers from fraud. Meta said it was expanding its Fraud Intelligence Reciprocal Exchange (FIPE) to enable U.K. banks to directly share information with the […]
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Ireland reveals how it plans to spend ‘transformational’ $14 billion Apple tax windfall
Pedestrians on Anne Street South in Dublin, Ireland, on Thursday, March 28, 2024. Bloomberg | Bloomberg | Getty Images Ireland’s government on Tuesday outlined how it intends to spend 13 billion euros ($14.4 billion) in Apple back taxes — a windfall that Dublin actually spent several years fighting to avoid. In a bumper pre-election budget […]
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China property stocks surge to highest levels in a year as stimulus rally continues
SHENZHEN, CHINA – MARCH 09: View of high commercial and residential buildings on March 9, 2016 in Shenzhen, China. General economic slowdown continues in China while the property price and stock bubble faces risk. (Photo by Zhong Zhi/Getty Images) Zhong Zhi | Getty Images News | Getty Images Shares of most Hong Kong-listed Chinese property […]
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China says it filed an appeal to WTO over Canada’s tariffs on EVs and metals
Aerial view of new energy vehicles at Huaian BYD Industrial Co., Ltd. on August 26, 2024 in Huaian, Jiangsu Province of China. Zhao Qirui | VCG | Visual China Group | Getty Images China on Wednesday announced that it has filed an appeal with the World Trade Organization, asking the organization to rule on the […]
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Oil watchers now see a real threat of supply disruptions after latest Iran-Israel escalation
A general view of Isfahan Refinery, one of the largest refineries in Iran and is considered as the first refinery in the country in terms of diversity of petroleum products in Isfahan, Iran on November 08, 2023. Fatemeh Bahrami | Anadolu | Getty Images Oil watchers are now seeing a genuine threat to crude supplies […]
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Young Chinese are ‘retiring’ in the countryside as China’s unemployment woes grate
A girl hugging a young cattle at a breeding farm in Chongqing, China. Vcg | Visual China Group | Getty Images Fed up with China’s employment situation, young people on the mainland are retreating to the countryside. China’s Gen Z and millennials are increasingly documenting their rural day-to-day “retirement” lives on social media after declaring […]
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