Squirming On The Floor And A $200,000 Payout: Travis Kalanick’s Last Months At Uber

The video couldn’t have been released at a worse time. About a year ago, Travis Kalanick, then CEO of Uber, was defending himself in a meeting with company executives, insisting that the ride-hailing startup’s wounds were primarily...

Legacy airlines are facing new competitors on transatlantic routes

EVEN for a global industry like aviation, Primera Air’s business model seems remarkably cosmopolitan. The Icelandic-owned budget airline is headquartered in Latvia, but mainly operates low-cost flights from Denmark and Sweden to sunny places...

Amazon Narrows Down Second Headquarters List To 20 Possibilities

On Thursday, Amazon released the short list of cities and other localities that are still in the running to host the online retail giant’s second headquarters, which it’s calling HQ2. Here’s the list, in alphabetical order: Atlanta Austin,...

The World Bank’s “ease of doing business” report faces tricky questions

HOW many days does it take to correct a misleading newspaper interview? Four, in the case of Paul Romer, the World Bank’s chief economist. On January 12th a surprising article in the Wall Street...

Chinese tech companies plan to steal American cloud firms’ thunder

WHICH of the world’s tech giants boasts the fastest-growing computing cloud? Many would guess either Amazon or Google, which operate the world’s largest networks of data centres, but the correct answer is Alibaba. In...

A weak market for football rights suggests a lower value for sport

Might Paul’s wages fall?FOR years the cost of rights to broadcast major sports in America and Europe has trended in one direction—up. This gravity-defying law shapes the economics of modern sport: as television operators...

Innovative materials from bamboo are helping a new industry to sprout

A bamboo spider rides highFANNING out from the sodden delta of the Yangtze, and southward to the flanks of the Nanling mountains, over 6m hectares of emerald bamboo groves—one-fifth of the world’s reserves—flourish in...

After a huge loss on old reinsurance contracts, GE contemplates a break-up

Flannery kitchen-sinks itDECISIONS made long ago, and often long since forgotten, can come back to haunt. General Electric (GE), an American industrial conglomerate, has discovered that to its chagrin. On January 16th the company...

The hedge-fund delusion that grips pension-fund managers

HEDGE-FUND managers may be feeling quietly smug about their performance in 2017. They returned 6.5% on average, according to Hedge Fund Research, a data provider, their best year since 2013.But those returns do not...

Masayoshi Son may raise yet more cash to pump into tech

AT AN investor briefing in 2015, Masayoshi Son, chief executive of SoftBank, flashed up a picture of a goose. The company is like the bird of legend that produces golden eggs, he explained. In...

The rise and fall of Bitcoin

THE great Sir Isaac Newton may have revolutionised our knowledge of the world but he still had his blind spots. He was sucked into the great mania of his day, the South Sea Bubble...

Bitcoin Plummets On Fears Of Regulatory Crackdown, Hits 4-Week Low

LONDON (Reuters) - Bitcoin slid as much as 14 percent on Tuesday to hit a four-week low below $12,000, as fears grew of a regulatory crackdown after reports that South Korea’s finance minister had...

The days of the A380 look numbered

ASK frequent flyers which is their favourite aircraft and most come up with the same answer: the A380 superjumbo made by Airbus, a giant European planemaker. Able to carry 525 passengers in a typical...

Native Americans Who Can’t Afford Heat Take Desperate Measures To Stay Warm

As temperatures dropped below zero on South Dakota’s Pine Ridge Indian Reservation earlier this month, one young girl felt she had had enough. She was tired of feeling cold inside her home as temperatures plummeted,...

Jeff Bezos Announces $33 Million Scholarship Fund For ‘Dreamers’

Jeff Bezos, along with his wife MacKenzie, announced on Friday that they’d be donating a $33 million dollar grant to the country’s largest scholarship program for “Dreamers,” a group of undocumented immigrants who were...

Ford Urges Thousands Of Pickup Owners To Stop Driving After New Airbag Death

WASHINGTON (Reuters) - Ford Motor Co said on Thursday it had confirmed a second death in an older pickup truck caused by a defective airbag inflator of Takata Corp and urged 2,900 owners in...

Insurance Giant Aflac Reportedly Sued For Worker Exploitation

Insurance giant American Family Life Assurance Co., known as Aflac, has been accused of workplace fraud, including claims that it exploited its employees with a high-pressure contractor scheme, according to a report Thursday on The...

Turkish Airlines bounces back to growth

A LITTLE over a year ago, Gulliver gave a downbeat assessment of the prospects for Turkey's aviation sector. Having enjoyed a decade of uninterrupted growth of more than 10% a year, Turkish Airlines, the...

India’s tea industry is going through tepid times

Tasseography in progressBULK tea sales at the offices of J Thomas in Kolkata, which first started auctioning the stuff in 1861, lack the boisterousness of years past. Gone is the noisy trading pit, replaced...

Artificial intelligence dominated the Consumer Electronics Show

WHEN the electronics industry meets in Las Vegas at CES, its main trade show, buzzwords abound. But rarely has one been as pervasive as this week. “Artificial intelligence” or variations on the theme (“AI-driven”,...

Companies are moving faster than many governments on carbon pricing

Disney offsets its air milesECONOMISTS have long argued that the most efficient way to curb global warming is to put a price on the greenhouse-gas emissions that cause it. A total of 41 OECD...

Spectre and Meltdown prompt tech industry soul-searching

THE timing could hardly have been worse. Just as the tech industry was preparing for its big annual trade show, CES, held this week in Las Vegas, it was hit by one of the...

Spotify opts for an unusual way of going public

FOR seasoned bankers and starry-eyed entrepreneurs alike, doing an IPO, or initial public offering, is synonymous with the very idea of taking a firm public. No wonder, then, that the decision by Spotify, a...

Taiwanese bosses are the Chinese-speaking world’s oldest

DESPITE her father’s pleas, Cherry Liu refused to work for the family business, a small electronic-components company founded in 1979 on the outskirts of Taipei. A 34-year-old diamond dealer based in Sydney, Ms Liu...

Having rescued recorded music, Spotify may upend the industry again

IN JUST a few short years Spotify has evolved from bête noir of some of the world’s most prominent recording artists to perhaps their greatest benefactor. The Swedish company transformed the way people listen...

As gyms hit peak season, the market does the splits

EVERY year, like clockwork, swathes of humanity go through the same routine. On December 26th and January 1st, as the fog of cheese, chocolate oranges and champagne lifts, remorse creeps in. Online searches for...

BlackRock v Blackstone

THE two most successful entrepreneurs on Wall Street of the past two decades work on opposite sides of Park Avenue. Larry Fink, 65, is a Democrat whose hand is glued to a Starbucks cup...

Predicting doom for the bond market

INVESTORS are dragging their attention away from the stockmarket for a moment to figure out what is going on in the other main part of their portfolios: government bonds. Yields have been rising so...

Investment banks’ cull of company analysts brings dangers

THEY are not extinct, nor even on the endangered-species list. But company analysts, once among the most prestigious professionals in the stockmarket, are being culled. New European rules, with the catchy name of MiFID2,...

Supersonic jets may be about to make a comeback

IN OCTOBER 2003, the age of supersonic passenger travel came to an inauspicious end. That month British Airways withdrew from service its last Concorde jet, a Franco-British aircraft from the 1970s that could fly...

Where did the inflation go?

THE strength of the global economy is one reason why the stockmarket has started 2018 in buoyant mood (with the Dow passing 25,000). At some point, in any expansion, businesses find it harder to...

Masterful salesmanship has pushed Salesforce to ever-greater heights

Benioff’s guide to upsellingVISIBLE from nearly every corner of San Francisco and from up to 30 miles away, the new skyscraper that will be the headquarters of Salesforce, a software giant, stands 1,100 feet...

China’s Ant Financial is obliged to abandon an American acquisition

It didn’t mean jack“THE geopolitical environment has changed considerably since…a year ago.” That was the explanation given this week by Alex Holmes, chief executive of MoneyGram International, a Dallas-based American money-transfer firm, for Ant...

Canada frets about anonymously owned firms

WHEN reports surfaced in 2016 of foreign students with no known income buying homes worth millions of dollars in Vancouver, locals said it was yet more evidence that foreigners were inflating prices in Canada’s...

South Korea’s antitrust tsar has a good shot at taming the chaebol

AS KIM SANG-JO was preparing last May to make the switch from snappy shareholder activist to a regulatory role as South Korea’s fair-trade commissioner, he had a simple message for the country’s big conglomerates:...

A bond dispute threatens the future of Islamic finance

STOCKMARKETS in the Gulf do not observe Christian holidays, but still had a generally quiet day on December 25th. Shares in Dana Gas, an exploration business listed in Abu Dhabi, however, did make some...

As China gets tough on pollution, will its economy suffer?

LEO YAO thought he had nothing to fear from the environment ministry. Before, when its inspectors visited his cutlery factory, he says, they generated “loud thunder, little rain”. After warning him to clean up,...

Many happy returns: new data reveal long-term investment trends

DATA-GATHERING is the least sexy part of economics, which is saying something. Yet it is also among the most important. The discipline is rife with elaborate theories built on assumptions that turned out to...

Europe’s sprawling new financial law enters into force

AFTER years of rule-drafting, industry lobbying and plenty of last-minute wrangling, Europe’s massive new financial regulation, MiFID 2, was rolled out on January 3rd. Firms had spent months dreading (in some cases) or eagerly...

After a bumper 2017, will 2018 be kind to the financial markets?

AFTER a bumper year for financial markets in 2017, can 2018 be anything like as good? Much will depend on the global economy. The rally in stockmarkets stretches back almost two years, to the...

America’s bank profits take a hit from tax reform

WHEN Donald Trump won America’s presidential election 14 months ago, banks’ share prices leapt. One reason for that was the prospect of lower corporate taxes, which would both benefit banks directly and (investors hoped)...

Philip Morris Says It’s ‘Trying To Give Up Cigarettes’ In 2018

Tobacco giant Philip Morris International took out full-page ads in several British newspapers this week proclaiming the company’s 2018 New Year’s resolution as “trying to give up cigarettes.” “Our ambition is to stop selling cigarettes...

Are America’s airports the worst in the world?

SOME airports are known for being the antithesis of elegance. The reputation of Luton Airport in Britain was famously trashed by a television advert for Campari, a posh drink, in the 1980s. In the...

2018 will be the year that large, incumbent companies take on big tech

ACCORDING to Ginni Rometty, IBM’s boss, the digital revolution has two phases. In the first, Silicon Valley firms make all the running as they create new markets and eviscerate weak firms in sleepy industries....

7 Secrets Self-Made Millionaires Teach Their Kids

What do you teach your kids about money, prosperity and how to get rich? If you’re like most parents, the answer is probably: not much. If you ever needed a reason to start the...

Minimum Wage Raises Coming To 18 States On New Year’s Day

Minimum wage workers in 18 states will get a pay hike next week when higher wage floors go into effect around the country for 2018. With the federal minimum wage remaining just $7.25 per hour,...

Apple Apologizes For Slowed iPhones, Drops Price Of Battery Replacements

Apple has apologized for covertly slowing down the performance of iPhones with older batteries ― and, as a peace offering, it’s temporarily dropping the price of its replacement batteries. Starting late January until December 2018,...

World’s Wealthiest Billionaires Got Nearly $1 Trillion Richer In 2017: Bloomberg

The rich aren’t just getting richer — they’re getting much, much richer.  Citing its Billionaires Index, Bloomberg reported Wednesday that the world’s 500 wealthiest people became almost $1 trillion richer ― that’s $1,000,000,000,000 ― in 2017, thanks...

Dollar General To Create 400 New Jobs In Texas As It Expands In Rural...

Dollar General, a favorite spot for household staples across the country, is expanding even further.  The company announced plans Wednesday to build a new distribution center in Longview, Texas, that will create 400 jobs at...

Apple Hit With Lawsuits After Admitting It Intentionally Slowed Down iPhones

Apple is facing several lawsuits after the tech giant admitted this week that it was deliberately slowing down the performance of its older iPhones. In a statement on Wednesday, the company said slowing down the...
- Advertisement -

Recent Posts