Germany’s cartel office has found that Facebook abused its dominant market position, challenging the U.S. social network’s model of monetizing the personal data of its 2 billion users worldwide through targeted advertising. Presenting preliminary findings of its 20-month-old probe, the Federal Cartel Office said Facebook held a dominant position among social networks – a characterisation […]
Read moreSen. Mark Warner sat down with CNBC’s John Harwood to discuss a range of topics, including the GOP’s tax plan. What follows is an edited, condensed excerpt of the conversation. CNBC’s John Harwood: You’re a business guy with a centrist reputation. Is this tax bill that your Republican colleagues are all-in on going to be […]
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AIRLINES respond to greater demand for travel around Christmas by increasing fares. But this year, Ryanair has found that it is not the only one taking advantage of the desire to be home for the holidays. To avert proposed strikes by pilots across Europe, the Dublin-based carrier offered on December 15th to recognise pilot unions […]
Read moreIf you read the headlines, the spoils of the Republican tax plan will disproportionately benefit the wealthy. It’s been called a “tax cut for the rich,” “a Christmas gift for the wealthy” and more. And that’s true: Any back-of-the-envelope math shows that in both dollar terms and in percentage terms, the largest tax cuts clearly […]
Read moreEurope markets are expected to open slightly higher on Tuesday morning, following a record-setting session on Wall Street amid heightened expectations U.S. lawmakers could pass sweeping tax legislation. The FTSE 100 is poised to open up by 5 points at 7,537; the DAX is seen 18 points higher at 13,333 while the CAC 40 is […]
Read moreConfidence among the nation’s homebuilders jumped unexpectedly in December on expectations for a stronger economy. A monthly reading of homebuilder sentiment rose 5 points to 74. This is the highest reading since 1999. Fifty is the line between positive and negative sentiment on the National Association of Home Builders’ index. November’s reading was revised lower […]
Read moreEU state aid regulators will investigate whether Swedish furniture retailer Ikea’s tax arrangement with the Netherlands helped cut its tax bill – the latest crackdown on unfair tax deals between multinationals and EU countries. The European Commission said on Monday it was looking into two tax rulings issued to Inter Ikea, which operates Ikea’s franchise […]
Read moreCurrency, United States Finance
UK economy could lose $420 billion by 2030 if robots replace human jobs, study says
The U.K. economy could shrink by hundreds of billions of dollars by 2030 because of the impact of artificial intelligence (AI) and machine learning, according to a new study. Research by The Economist Intelligence Unit last week illustrated a number of scenarios detailing the impact of advances in AI on world economies. In one scenario, […]
Read moreAmerican optimism on the economy is reaching new heights and the President’s approval ratings looks to be benefiting, at least somewhat. The CNBC All-American Economic Survey found that for the first time in at least 11 years, more than half of the public rates the economy as good or excellent, while a near record 41 […]
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WHAT is in store for economies and markets in 2018? Around this time of year, a large number of analysts and fund managers are giving their views. Among the most interesting and thoughtful approaches can be found at Absolute Strategy Research (ASR), an independent group founded by David Bowers and Ian Harnett. ASR adds extra […]
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