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World Business

A business, also known as an enterprise or a firm, is an organization involved in the trade of goods, services, or both to consumers.

Using Huawei in UK 5G network ‘madness’, says US

The US has warned the British government it “would be madness” to use Huawei technology in the UK’s 5G network. A US delegation presented the UK with new evidence claiming to show security risks posed by using the Chinese firm. US President Donald Trump has sought to pressure Prime Minister Boris Johnson on the issue. A decision is expected this ... Read More »

Visa to pay $5.3b to buy fintech startup Plaid

NEW YORK: Visa Inc said it agreed to buy privately held software startup Plaid Inc in a $5.3 billion deal that will boost the payments giant’s access to the booming financial technology space. The transaction highlights how traditional financial firms are willing to pay top dollar to acquire businesses which have established strong positions servicing the digital and cashless economy. ... Read More »

Asian markets mostly up as focus moves to China-US pact

HONG KONG: Asian markets mostly rose Monday as investor attention turned from the Middle East to the global economic outlook and this week’s planned signing of the China-US trade pact. While the optimism that characterised the end of 2019 is returning to trading floors, dealers were left a little disappointed by a below-par jobs report out of Washington, which also ... Read More »

Oil slips towards $65

LONDON: Oil slipped further towards $65 a barrel on Friday as tensions in the Middle East over Iran eased for now and investors focused on rising US inventories and other signs of ample supply. Iran responded to a US drone strike that killed a top Iranian general on Jan 3 with a missile attack on Iraqi air bases hosting US ... Read More »

Oil prices fall further as threat of Middle East war recedes

TOKYO: Oil prices dropped on Friday extending days of losses as the threat of war in the Middle East receded and investors switched attention to economic growth prospects and the rise in U.S. crude oil and product inventories. Brent crude LCOc1 fell 20 cents, or 0.3%, at $65.17 by 0240 GMT, and is heading for its first decline in six ... Read More »

China sweeps past Japan and US as Australia’s largest export beef

CHINA’S recent dominance as the world’s largest beef customer has been underlined by 2019 Australian calendar year export statistics released this week, which have seen the Asian giant sweep past traditional customers Japan and the US as our largest beef export destination. The historic milestone breaks a 50-year sequence where either Japan or the US stood as Australia’s biggest beef ... Read More »

Asian stocks, oil prices rebound as Iran anxiety eases

TOKYO: Asian stock markets rebounded Thursday as anxiety over potential US-Iranian conflict eased. Tokyo’s benchmark gained more than 2 per cent. Shanghai, Hong Kong and Southeast Asia markets also advanced. Markets sank after Tehran retaliated for the US killing of an Iranian general by launching missiles at American bases in Iraq. But anxiety subsided after reports indicated no Americans were ... Read More »

Oil prices jump in international markets amid US-Iran tensions

TOKYO: Oil prices jumped to its highest since September 2019 on Wednesday after Iran attacked American forces in Iraq in response to a US strike that killed an Iranian general last week, raising the specter of a spiraling conflict and disrupted oil supplies. However, prices cooled a fraction after the early heat as analysts said market tension could ease as ... Read More »

Oil tops $70 as Iran, Trump trade threats

LONDON: Oil prices rose over 1% on Monday, pushing Brent above $70 a barrel, as rhetoric from the United States, Iran and Iraq fanned tensions in the Middle East after a US air strike which killed a top Iranian military commander. Brent crude futures soared to a high of $70.74 a barrel and was at $69.55 at 1150 GMT, up ... Read More »

Crude and gold extend gains, stocks sink on fear of US-Iran war

HONG KONG: Oil prices surged, gold hit a more than six-year high and equities tumbled Monday after the US assassination of a top Iranian general last week fanned fears of a major conflict in the Middle East. Donald Trump warned of a “major retaliation” against Tehran after it threatened revenge for the killing Friday of commander Qasem Soleimani, which shocked ... Read More »

Most Asia stock markets trim early gains as Mideast airstrikes hit sentiment

SINGAPORE: Most Southeast Asian stock markets trimmed early gains on Friday as mounting Middle Eastern tensions dented sentiment, while the Philippine index closed 1.3% firmer after investors picked up beaten-down stocks. Risk appetite across global markets faltered after U.S. airstrikes at Baghdad airport killed Iranian Major-General Qassem Soleimani, heightening geopolitical tensions. Most regional markets pulled back from session highs yet ... Read More »

Oil prices surge after US strike kills Iranian general

HONG KONG: Oil prices soared more than four percent Friday following news that the US had killed a top Iranian general, fanning fresh fears of a conflict in the crude-rich region. Brent surged 4.4 percent to $69.16 and WTI jumped 4.3 percent to $63.84 as investors grow increasingly worried about the effects of a possible flare-up in the tinderbox Middle ... Read More »

Tax-free Irish Google unit paid $50bn in dividends

An Irish arm of Google has paid dividends of $50.8bn (€45.3bn) over the past two years, ahead of it losing the benefits of the so-called ‘double Irish’ tax scheme. The latest accounts show its profits were entirely tax-free in 2018. During 2019, dividends of $27.9bn were paid by Google Ireland Holdings Unlimited (GIHU) to the company’s immediate parent. In 2018, ... Read More »

Oil climbs on U.S.-China trade optimism, Middle East tensions

SEOUL: Oil prices rose on the first trading day of 2020 as warming trade relations between the United States and China eased demand concerns, and rising tensions in the Middle East raised worries about supply. Global benchmark Brent crude futures LCOc1, were up 21 cents, or 0.3%, to 66.21 a barrel by 0130 GMT. U.S. West Texas Intermediate (WTI) crude ... Read More »

U.S.-China trade deal will be signed on Jan. 15: Trump

WASHINGTON: U.S. President Donald Trump said on Tuesday that Phase 1 of trade deal with China would be signed on Jan. 15 at the White House, though considerable confusion remains about the details of the agreement. The president wrote in a tweet that he would sign the deal with “high level representatives of China” and that he would later travel ... Read More »

Huawei gets India nod to participate in 5G trials

BEIJING: The Indian government has allowed Chinese telecom company Huawei Technologies Co to participate in trials for 5G networks, a company spokesman said on Monday. India’s nod to Huawei comes at a time when the global rollout of 5G technology has been complicated by US sanctions against the company. The United States has been lobbying allies not to use Huawei’s ... Read More »

US Bank Business Loans Stalled In Latter Half Of 2019

U.S. business loans and capital investment have essentially plateaued in the second half of 2019, in what experts say is a reflection of the slowing industrial economy. The industrial slowdown crippled markets and made way for big businesses to take advantage of cheap financing deals that were available. While there was growth in commercial and industrial loans of 1.6 percent ... Read More »

Optimism among small UK businesses slumps to eight-year low

After a year dogged by Brexit deadlock, political uncertainty and slow growth, optimism among small UK firms has slumped to an eight-year low. The Federation of Small Businesses’s confidence gauge fell in October-December for the sixth quarter in a row. Managers at firms across the UK reported worries about the domestic economy and pessimism about opportunities overseas. Nearly half of ... Read More »

Saudi Arabia may cut light crude prices

SINGAPORE: Saudi Arabia, the world’s biggest oil exporter, may cut the prices of its light crude grades sold to Asia in February on signs of slowing demand ahead of the region’s peak refinery maintenance season, six trade sources said on Monday. The official selling price (OSP) of flagship Arab Light crude in February could fall by 20-30 cents a barrel, ... Read More »

Oil hits three-month highs as strong U.S. consumer spending underpins growth hopes

TOKYO: Oil prices rose on Friday, hitting three-month highs after data showed record online spending by U.S. consumers, stoking faith in the world’s no. 1 economy even before the hoped-for end to the trade war between Washington and Beijing. Brent crude futures were up 13 cents, or 0.2%, at $68.05 a barrel at 0150 GMT, while the West Texas Intermediate ... Read More »