By Abbas Al Lawati The worst is yet to come for Dubai’s real estate after prices already plunged close to levels last seen during a crash a decade ago, according to S&P Global Ratings. A supply glut has built up even as demand faltered, feeding what S&P is calling the market’s “long decline” that’s seen […] Read more
By Alexander J Martin It is unclear whether the web giant or Kremlin officials have backed down to avoid a looming conflict. Roskomnadzor has sent repeated requests to Google requiring it to route Russian citizens’ web searches through a government filtering system. However, the head of the regulator, Alexander Zharov, told state-owned news agency TASS […] Read more
By Peter Laca and Krystof Chamonikolas The Czech central bank will probably keep borrowing costs unchanged for a second meeting, prolonging a pause in rate hikes to digest signals of a potential economic slowdown in the euro area. As the European Central Bank faces diminishing prospects of raising its own rates this year, its Czech […] Read more
By David Mercer The fashion brand faces criticism for the black balaclava jumper which features a cut-out at the mouth that is outlined in red. The Gucci jumper is being sold for $890 (£688). Pic: Gucci/Spring Gucci has been embroiled in a racism row after shoppers complained a women’s jumper resembled “blackface”. The Italian fashion […] Read more
By Lydia DePillis The US economy added 304,000 jobs in January, a surprisingly strong month of hiring as employers continue to bring in new workers. January was the 100th straight month of job gains. The Labor Department said the government shutdown that lasted more than a month had “no discernible impacts” on hiring and wages, […] Read more
By Kathryn Vasel Mass layoffs are back in the news. January was particularly brutal for journalists. Buzzfeed announced it was reducing its workforce by 15%. Verizon cut about 7% of media divisionstaff. And Gannett, the nation’s largest newspaper chain, slashed dozens of jobs across the country. Hearing the news that you’ve just been laid off can be a devastating […] Read more
A $1 million settlement for a company with annual revenues of $270 million is not usually enough to bat an eyelash, except when it has to do with North Korea. The U.S. Office of Foreign Assets Control says e.l.f. Beauty imported 156 shipments of false eyelash kits, valued at $4.43 million, from two suppliers located […] Read more
By Hanna Hoikkala The waterfront in the old city area of Stockholm The holding company that manages about $37 billion in assets for Sweden’s Wallenberg family says political risk stemming from trade wars and Brexit could have serious repercussions for a number of its investments. Johan Forssell, the chief executive officer of Investor AB, says […] Read more
By: Shoon Naing, Antoni Slodkowski Myanmar leader Aung San Suu Kyi on Monday urged global investors to put their money into Myanmar, seeking to offset the negative impact of the Rohingya crisis and slow pace of economic reforms. Myanmar’s State Counsellor Aung San Suu Kyi attends Invest Myanmar in Naypidaw, Myanmar, January 28, 2019. Suu […] Read more
By Erik Schatzker and Jeremy Kahn A pedestrian checks a mobile device in front of the Uber Technologies Inc. headquarters building in San Francisco, California, U.S Uber Technologies Inc. Chief Executive Officer Dara Khosrowshahi said it was “possible” the ride-hailing giant would look for outside investors for its self-driving car unit, but isn’t currently searching for […] Read more
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