U.S. factory activity slowed for a second straight month in April, weighed down by shortages of skilled workers and rising capacity constraints, but strengthening global demand continues to support manufacturing. The Institute for Supply Management (ISM) survey published on Tuesday also showed a jump in the cost of raw materials, with prices for steel and […]
Read moreBritain is set to enforce greater transparency in tax havens after a minister for the U.K. government announced Tuesday it would not oppose a legal amendment proposed by a cross-party alliance of lawmakers. Some overseas British territories that are notorious for being tax havens for the world’s wealthiest, such as the Cayman Islands and the […]
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Bitcoin fell below $9,000 Tuesday, the first trading day of May. The cryptocurrency traded 3.9 percent lower around $8,880 as of 8:49 a.m. ET, according to CoinDesk’s bitcoin price index. The decline followed a gain of about 33.5 percent for April. There was no immediately apparent reason for bitcoin’s drop, which began overnight. Bitcoin has […]
Read moreCurrency, United States Finance
US needs to catch up with Europe to regulate tech giants like Facebook, congressman says
The United States is failing to keep up with Europe in regulating technology corporations like Facebook and Google, a congressman told CNBC on Monday. Rep. John Sarbanes, D-Maryland, said that he was concerned about the U.S.’s lack of tools for dealing with tech companies that fail to prevent the misuse of users’ data. Facebook has […]
Read moreAmazon is adding 2,000 jobs to its Boston tech hub in fields including cloud computing and speech science, the company announced Tuesday. Boston is one of the tech giant’s largest footholds and is a finalist to win the company’s second headquarters. Amazon has been paying visits to each of the 20 North American finalists. Amazon […]
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Trump looks set to scrap Iran's nuclear deal — and this is where it'll hurt the most
Iran’s fragile economic recovery is in jeopardy with President Donald Trump widely expected to scrap an internationally-brokered nuclear deal and re-impose sanctions against the regime. Trump has given the European nations that helped broker the 2015 nuclear deal — which he called “terrible” — until May 12 to change it, but that is looking increasingly […]
Read moreMore earnings reports from companies linked to Apple have resulted in further evidence that the technology giant could be winding down or stopping production of the iPhone X. Nasdaq-listed Cognex is the latest company to provide clues that Apple may be going down this path. It reported first quarter earnings on Monday that were up […]
Read moreApple will generate significant profits and sales growth over the next three years, according to one Wall Street firm. D.A. Davidson initiated coverage for Apple shares with a buy rating, citing the company’s leadership position in the smartphone market. “With an eye for design, strong share in the premium (high margin) markets for smartphones and […]
Read moreBritain’s Royal Bank of Scotland is to cut around 792 jobs and shutter 162 branches following a review of its branch network in England and Wales, the state-backed lender said on Tuesday. RBS, which is more than 70 percent owned by the British taxpayer following a 2007 bailout, said the redundancies and closures were necessary […]
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The “Chicken War” (1962-1963) But that didn’t mean the end of trade wars. “There was this really quite aggressive move in the 1960s of chicken, and people talked about a chicken war,” James said. European countries were importing increasingly large amounts of frozen American chicken. According to a report by the Cato Institute, a libertarian […]
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