A planned merger between Uber and Yandex.Taxi has been approved by Russia’s anti-monopoly agency. The new company will be majority owned by Yandex.Taxi, which is a subsidiary of the country’s preferred search engine, Yandex. Anatoly Golomolzin, deputy head of the anti-monopoly service of the Russian Federation, said in a statement Friday that the deal was […]
Read moreUber Technologies Inc said on Thursday that it discussed a massive data breach with potential investor SoftBank Group Corp ahead of going public with details of the incident on Tuesday. The ride-hailing service is trying to complete a deal in which the Japanese company would invest as much as $10 billion (£7.52 billion) for at […]
Read moreHousehold debt levels in Canada are higher than in any other country, according to a report by the Organization for Economic Cooperation and Development (OECD). In a preliminary version of the report, set to be released fully next month, the OECD found Canada’s household debt ranked as the highest among the 35 developed and developing […]
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German socialist leader under growing pressure to resign and fix political chaos
The leader of Germany’s socialist party is under heavy pressure to fix the country’s political stalemate – despite the experienced lawmaker not being involved in recent coalition talks. Martin Schulz of the Social Democratic Party (SPD) has stated repeatedly that the party wants to stay in opposition rather than joining another coalition, despite gaining 20.5 […]
Read moreSaudi Arabia’s powerful Crown Prince called the Supreme Leader of Iran “the new Hitler of the Middle East” in an interview with the New York Times published on Thursday, sharply escalating the war of words between the arch-rivals. The Sunni Muslim kingdom of Saudi Arabia and Shi’ite Iran back rival sides in wars and political […]
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Bitcoin is 'definitely not a fraud,' CEO of mobile-only bank Revolut says
Bitcoin and other digital currencies are not “a fraud,” the chief executive of app-based bank Revolut told CNBC, ahead of the start-up’s plans to launch a range of services for cryptocurrencies. The firm’s CEO gave an alternative view to JPMorgan CEO Jamie Dimon, who has called the phenomenon a “fraud” that will “blow up.” “They […]
Read moreEther, the digital currency of the Ethereum blockchain, made significant gains on the day of the Thanksgiving holiday. The cryptocurrency hit an all-time high of $425.55 Thursday, according to data from industry website Coinmarketcap. This broke a previous record high of $414.76, which the digital currency’s price reached in June. Ether has risen by more […]
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Saudi Arabia reportedly agrees to buy $7 billion in precision munitions from US firms
Saudi Arabia has agreed to buy about $7 billion worth of precision-guided munitions from U.S. defense contractors, sources familiar with the matter said, a deal that some lawmakers may object to over American weapons having contributed to civilian deaths in the Saudi campaign in Yemen. Raytheon Co and Boeing Co are the companies selected, the […]
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European markets seen higher ahead of data; political uncertainty returns
European equities are seen slightly higher on Friday morning amid lower liquidity levels due to the Thanksgiving holiday. The FTSE 100 is seen up by 0.2 points at 7,412; the DAX is expected to start up by 13 points at 12,009 and the CAC 40 is set to open up by 1.3 points at 5,376, […]
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How Islamic State’s defeat could result in ‘ISIS 2.0 or Al Qaeda 3.0’
Islamic State (ISIS) is looking a shadow of its former self, having lost almost all trace of its self-proclaimed caliphate in Syria and Iraq. But experts are predicting that the militant organization will regroup and return should the political and physical reconstruction of those two countries be unsuccessful. Fearful of a resurgence of ISIS and […]
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