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Bridging The Gap
Google should not be in business of war, say employees Google should not be in business of war, say employees
Thousands of Google employees have signed an open letter asking the internet giant to stop working on a project for the US military. Project Maven involves using artificial intelligence to improve the precision of military drone strikes. Employees fear Google's involvement will "irreparably damage" its brand. "We believe that Google should not be in the business of war," says the letter, ...
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EU and six other countries exempted from US metals tariffs EU and six other countries exempted from US metals tariffs
A senior US official has said that the European Union (EU) and six other countries will be exempt from steel and aluminium tariffs announced by President Trump, at least temporarily. Trade Representative Robert Lighthizer told a Senate panel that Mr Trump had decided to "pause" the import duties while further discussions took place. The tariffs of 25% on steel and 10% on aluminium are due to...
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St. Kitts’ citizenship by investment demand jumps to 250% after new – Dubai’s AAA Associates reports. St. Kitts’ citizenship by investment demand jumps to 250% after new – Dubai’s AAA Associates reports.
Demand in immigration business jumps to 250 per cent – the highest in the world – due to the devastating impact of the 2017 hurricanes in the Caribbean that have created a need for funds to re-build the devastated areas, create new jobs and put the economies back on track. The small states in the Caribbean have introduced massive discount required for citizenship by investment programmes to attrac...
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US job growth surges in February. US job growth surges in February.
Job creation in the US economy surged last month, but the annual rate of wage growth slowed. The economy created 313,000 jobs in February, official figures show, far in excess of analysts' expectations. However, the unemployment rate remained at 4.1%, while the annual earnings growth rate slowed to 2.6% last month. January's annual wage growth rate - which had triggered fears over inflati...
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US rejects China-led bid for Chicago Stock Exchange. US rejects China-led bid for Chicago Stock Exchange.
The US has rejected a proposed merger between the Chicago Stock Exchange and a Chinese-linked investor group. The decision comes after more than two years of reviews by officials. The tie-up was initially approved by the Committee on Foreign Investment in the United States, pending further approval by the Securities and Exchange Commission (SEC). But US politicians, including President Tr...
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US markets open higher amid volatility. US markets open higher amid volatility.
US shares opened higher on Friday, reversing some of the previous session's hefty falls as the volatile week on the markets continued. The Dow Jones Industrial Average started trading up 227 points, or 0.95%, at 24,087. The S&P 500 index opened 25 points, or 0.9%, higher at 2,606. However, both indexes are still on track for their worst weekly losses in six years. In London, the FTSE 100 ...
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U.S. consumer spending up a solid 0.4% in December; savings fall to 10-year low. U.S. consumer spending up a solid 0.4% in December; savings fall to 10-year low.
WASHINGTON — Americans increased their spending 0.4% in December, a solid pace but slower than the big spending burst seen in November. The Commerce Department said Monday the spending gain followed a 0.8% surge in November. Incomes were up 0.4%, helped by a healthy rise in wages that reflects the fact that unemployment is at a 17-year low of 4.1%. A key inflation gauge tracked by the Federa...
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UAE ranks 13th Most Promising Economy for Investment in 2017-19: UNCTAD. UAE ranks 13th Most Promising Economy for Investment in 2017-19: UNCTAD.
The UAE has been named the 13th Most Promising Home Economy for Investment in 2017-19 according to a survey conducted by the United Nations Council for Trade and Development (UNCTAD) and Investment Promotion Agency (IPA) Observer. The ranking, published in the UNCTAD’s recently released annual World Investment Report (WIR) 2017, reflects the UAE’s liberal and investment-friendly business polici...
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UAE Businesses Start Embracing Cryptocurrency Payments. UAE Businesses Start Embracing Cryptocurrency Payments.
UAE’s Star Business Centre, offering state of the art fully furnished offices for new investors, business people and those international companies seeking suitable ready-made fully furnished plug-and-play workplaces, has announced that it is now accepting cryptocurrencies – especially Bitcoin – as a mode of payment for its services. The cryptocurrency is a digital currency or virtual payment t...
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HSBC to pay $101.5m to settle currency rigging probe. HSBC to pay $101.5m to settle currency rigging probe.
HSBC Holdings has its roots in Hong Kong and is Europe's biggest bank HSBC has agreed to pay $101.1m (£72.7m) to settle a US criminal investigation into rigged currency transactions. The bank has admitted its traders twice misused confidential information provided to them by clients for its own profit. HSBC, which is Europe's biggest bank, saw one its former bankers convicted last year in...
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