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LONDON, United Kingdom (AFP) — Eight men own the same wealth as half the world’s population, a level of inequality which “threatens to pull our societies apart”, Oxfam said on Monday ahead of the World Economic Forum opening in Davos. The wealth of the world’s poorest 3.6 billion people is the equivalent to the combined net worth of six American businessmen, one from Spain and another from Mexico. Picked from Forbes’ billionaires list, they […]
(Reuters) — The United States Mint has unveiled a $100 gold coin featuring an African-American woman as the face of Lady Liberty for the first time in the history of U.S. currency. The 24-karat gold coin, which marks the Mint’s 225th anniversary, was debuted on Thursday (January 12) in the Department of the Treasury’s Cash Room in Washington, D.C. It is the first in a series of gold coins featuring Lady Liberty, which has […]
by Rob Lever Agence France Presse WASHINGTON, United States (AFP) — Amazon on Thursday unveiled plans to create 100,000 US jobs over the next 18 months, as President-elect Donald Trump presses the business world to boost activities on American soil. The US tech and retail giant’s plan to bring its American workforce to over 280,000 is the latest — and largest — of a string of job-creation announcements as Trump prepares to take office on […]
WASHINGTON, United States (AFP) – The United States on Thursday charged Fiat Chrysler with using software on its trucks to evade emissions standards on about 104,000 vehicles, an accusation the company immediately denied. The Environmental Protection Agency said the undisclosed software on the 2014 to 2016 models of Grand Cherokees and Dodge Ram 1500 trucks sold in the United States allowed the vehicles to emit more nitrogen oxides than permitted. Trading of FCA shares was […]
PYONGYANG, North Korea (Reuters) — North Korea held an opening ceremony for a newly built bag factory on Tuesday (January 10) in Pyongyang. Video provided by North Korea’s official news agency KCNA, which Reuters cannot independently verify, showed state officials and workers celebrating the opening of the new plant. “The Pyongyang Bag Factory is the culmination of love and was constructed with the respected supreme leader’s direct suggestions and his noble love of the future […]
(Reuters) — Yahoo’s getting a new name, and it’s shrinking its board. It’ll rename itself Altaba after it closes its $4.8 billion deal with Verizon. CEO Marissa Mayer will step down from its board, and several other directors including co-founder David Filo, will leave as well. The new name perhaps partly reflects where the company gets its value, Alibaba. Altaba will be a holding company. Its main assets: a 15 percent stake in Chinese e-commerce […]
WASHINGTON, United States (AFP) — Volkswagen AG said on Tuesday it had a “concrete draft” for a $4.3 billion deal to settle the US criminal case surrounding the emissions-cheating scandal known as “dieselgate.” The German automaker said it was in advanced discussions with the US Justice Department and US Customs and Border Protection to settle the criminal investigation and pay fines but this was subject to approval by VW’s board. It could be approved as […]
Volkswagen brand chief Herbert Diess says the company must “assume all responsibilities” after a Volkswagen executive was arrested in the US on conspiracy charges in the “dieselgate” emissions-cheating scandal. Speaking at the Detroit auto show, Diess also says he hopes American customers “will give us another chance if we behave correctly.” https://youtu.be/dyD4kU7_3CU
SAN FRANCISCO, United States (AFP) — Yahoo confirmed on Monday that chief executive Marissa Mayer will quit the company’s board after its merger with Verizon. Mayer is expected to remain with Yahoo’s core business, which is being bought by the US telecom titan. Yahoo is selling its main operating business as a way to separate that from its more valuable stake in Chinese internet giant Alibaba. The share-tending entity, to be renamed Altaba, Inc., will […]
BEIJING, China (AFP) — US fast-food giant McDonald’s will sell its mainland China and Hong Kong franchise business to a consortium of Citic Group and the Carlyle Group for up to $2.08 billion, the companies said Monday. Citic Limited, Citic Capital Holdings, Carlyle Group and McDonald’s will form a company that will act as the franchisee responsible for the chain’s business in mainland China and Hong Kong for 20 years, Citic Limited said in a […]
MANILA, Jan. 8 – The Philippines would continue to enjoy low interest rates for so long as the country’s macroeconomic fundamentals are kept intact, the Department of Finance (DOF) said. Based on the DOF Economic Bulletin submitted to Finance Secretary Carlos Dominguez III, maintaining good macroeconomic fundamentals is the best way to keep the local interest rates down as the US Federal Reserve raises its key policy rate. Dominguez pointed out, however, that the Philippines’ stable […]
WASHINGTON, United States (AFP) — Fiat Chrysler on Sunday announced it was creating 2,000 jobs in the United States, coming as President-elect Donald Trump has been publicly scolding automakers for investing in Mexico. The American-Italian firm will invest $1 billion by 2020 in two of its factories in the Midwestern states of Michigan and Ohio, where the new jobs will be based, the company said in a statement coming on the eve of the Detroit […]
