Social Media to Become Third-Largest Advertising Channel

Mon 07 October 2019: Advertisers will spend more on social media platforms than on print for the first time this year, according to Zenith’s Advertising Expenditure Forecasts. Advertising expenditure on social media will grow 20% this year to reach US$84bn, while advertisers’ combined expenditure on newspapers and magazines will fall 6% to US$69bn. Social media […]

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HSBC plans to cut 10,000 more jobs worldwide, says report

Mon 07 October 2019: HSBC is planning to lay off up to 10,000 staff, a report said Monday, just weeks after announcing the resignation of its chief executive and the cutting of 4,000 posts citing a weak global outlook. The latest losses, mostly in high-paid roles, are part of a fresh cost-cutting drive by interim […]

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PayPal pulls out of Facebook’s Libra Association

Sat 05 October 2019: United States payments processor PayPal Holdings Inc said on Friday it is leaving the Libra Association, making it the first member to exit from the Facebook-led effort to build a global digital currency. PayPal said it would forgo any further participation in the group and would instead focus on its own core businesses. […]

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Saudi Aramco bets $15 billion on India’s crude habit

Wed 14 August 2019: Transaction will give Saudi Arabia a one-fifth stake in world’s biggest oil refinery If big is beautiful, oil deals don’t come much prettier than Saudi Arabian Oil Co.’s plan to buy 20 per cent of Reliance Industries Ltd.’s petroleum business. The transaction will give the world’s biggest oil producer a one-fifth […]

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This Is Why a Weak Dollar Could Help the US

Sat 10 August 2019: The trade war between Washington and Beijing took an unexpected turn this week as China let its currency drop sharply and the United States responded by officially designating the country a currency manipulator. The confrontation underscored the Trump administration’s focus on weakness in foreign currencies — and the corresponding strength of […]

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Facebook Virtual Currency Confronts Real-World Resistance

Sat 22 June 2019: If Facebook’s new cryptocurrency should resonate anywhere it should be India, where the social media giant has more than 300 million followers.  Many Indians are shut out of banking and face punitive fees for simple transactions, like transferring money to their loved ones. But in India as elsewhere, the US company’s […]

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Norway’s pension fund KLP bans investment in alcohol, gambling firms

Thu 30 May 2019: KLP, Norway’s largest pension fund, said on Tuesday it will no longer invest in gambling companies and alcohol makers, and recently sold stocks and bonds in such firms worth about $320 million. The decision affects around 90 companies, which have been added to KLP’s exclusion list alongside industries it previously divested […]

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