Global Business | The Daily Star
  • German investor morale plunges on trade, Brexit woes

    German investor confidence plunged sharply in October, a closely watched survey said Tuesday, dragged down by fears over US-China trade tensions and a hard Brexit.

  • UK unemployment rate holds at 43-year low

    Britain's unemployment rate remained at 4.0 percent in the three months to August, the lowest point since 1975, official data showed Tuesday.

  • Russia World Cup added $14b to economy: organisers

    The 2018 World Cup added more than $14 billion to the Russian economy, more than one percent of the country's gross domestic product, tournament organisers said in Doha on Tuesday.

  • Ford faces outrage in France over factory closure

    US carmaker Ford came under fire from the French government on Monday over its plans to close a factory producing gear boxes in southwest France that employs 850 people.

  • Annual US budget deficit hits six-year high of $779b

    The US budget deficit hit a six-year high of $779 billion in the most recent fiscal year, the Treasury announced Monday, underscoring the cost of last year's sweeping tax cuts.

  • China's third quarter GDP growth seen hitting lowest since 2009

    At week's end, global investors and policy makers will likely be given a stark reminder of the costs of a bitter Sino-US trade war, with a Reuters poll predicting that China's third-quarter growth will slow to its weakest pace since the global financial crisis.

  • Jack Ma to open institute for tech entrepreneurs

    Jack Ma, executive chairman of China's Alibaba Group Holding, said on Saturday he plans to open an institute to train thousands of tech entrepreneurs in Indonesia, where he is already an adviser to the government on e-commerce.

  • Window of opportunity narrowing on global growth: IMF

    The window of opportunity to keep global growth on track is "narrowing" amid trade disputes and emerging markets crises, the IMF said Saturday, and cautioned against currency wars as a US-China spat threatens to boil over.

  • Facebook now says data breach affected 29m users, details impact

    Cyber attackers stole data from 29 million Facebook accounts using an automated program that moved from one friend to the next, Facebook Inc announced on Friday, as the social media company said its largest-ever data theft hit fewer than the 50 million profiles it initially reported.

  • India's retail inflation picks up

    India's retail inflation rose marginally in September, nudged up by food and fuel prices, but short of the Reserve Bank of India's 4 percent medium-term target, strengthening views it could tighten monetary policy in December following unchanged rates last week.

  • Japan wants to put global imbalances on the map

    Japan wants to highlight global imbalances as key topics of debate, and take steps to fix them, when it chairs next year's gatherings of the Group of 20 major economies, government officials said this week.

  • A tech boom in Pittsburgh brings hope and angst

    The city of Pittsburgh, the one-time steel capital that's long been a symbol of Rust-Belt decline, is emerging as a vibrant hub for artificial intelligence, robotics and biomedical companies eager to tap a rich talent pool.

  • Key EU lawmaker's plan to rein in online marketplaces a threat to Amazon

    Amazon could face a threat other than just EU antitrust scrutiny after a key EU lawmaker announced proposals aimed at curbing online marketplaces' use of merchants' data to boost sales of own brand products.

  • Walmart acquires online lingerie retailer

    Walmart Inc said on Friday it has acquired online lingerie retailer Bare Necessities for an undisclosed amount, its second apparel-focused acquisition in less than two weeks as it seeks deeper inroads into the online fashion space.

  • US-China trade row not a threat to world economy: Mnuchin

    US Treasury Secretary Steven Mnuchin pushed back Saturday against warnings that Washington's trade fight with China imperils the world economy, saying that pushing Beijing to open up will be good for all.

  • US senators urge India to soften data localisation stance

    Two US senators have called on Prime Minister Narendra Modi to soften India's stance on data localisation, warning that measures requiring it represent “key trade barriers” between the two nations.

  • IMF to gather in Indonesia to focus on global economic tremors

    Rising protectionism, vulnerable emerging markets and record debt levels: The IMF holds its annual meeting this week in earthquake-stricken Indonesia, as it shines a light on tremors in the global economy.

  • China to cut reserve requirement ratio for fourth time

    China's central bank announced Sunday it would reduce the reserve requirement ratio (RRR) for most banks by one percentage point, the fourth time this year the country has sought to free up credit for businesses as they face down $250 billion in US tariffs.

  • SoftBank to invest $500m in ride-hailing firm Grab

    SoftBank Group Corp is closing in on a deal to invest about $500 million in Grab as part of roughly $1 billion that Southeast Asia's biggest ride-hailing firm is seeking in its latest funding, sources with knowledge of the matter said.

  • India may be forced to delay Axis Bank stake sale

    India may be forced to delay selling its stake in Axis Bank Ltd because of a weak stock market, The Economic Times newspaper reported on Saturday, citing unnamed market sources and an investment banker aware of the development.

  • Argentina to get 30 cryptocurrency ATMs

    Argentina could get up to 30 automated teller machines that buy and sell bitcoin by the end of the year, industry representatives said, an expansion of the cryptocurrency market amid an economic crisis that has seen the peso's value tumble.

  • Tariffs won't dent US Santa spending this year

    Tariffs won't play the Grinch this Christmas, as US stores should have a solid holiday shopping season amid a strong economy, the National Retail Federation said Thursday.

  • India’s services sector activity drops to four-month low

    Activity in India's dominant services sector eased to a four-month low in September on dwindling demand, while intensifying price pressures pointed to a bumpy road ahead, a private survey showed on Thursday.

  • IMF chief urges 'revamp' of Japan economic policy

    The head of the IMF Thursday called for an overhaul of Japan's economic policy, as the world's third-biggest economy battles stubborn low inflation, sluggish growth and a rapidly ageing population.

  • Cadillac edges Tesla in semi-automated driving test

    General Motors Co's Cadillac outscored Tesla Inc in a new ranking of partially automated driving systems tested by Consumer Reports and released on Thursday.

  • Bangladesh seeks revival of silk industry

    Bangladesh's silk industry is one of the oldest in the world, with farmers in the northwestern border district of Rajshahi producing some of the most sought-after silk yarns.

  • Apple, Amazon deny Bloomberg report on Chinese hardware attack

    Apple Inc and Amazon denied a Bloomberg report on Thursday that their systems contained malicious computer chips inserted by Chinese intelligence, statements from the tech companies released separately by Bloomberg showed.

  • Italy to cut deficit from 2020

    Italy's populist government will cut its budget deficit targets from 2020, Economy Minister Giovanni Tria said on Wednesday, after investors sold off Italian assets and European Union ministers criticized its plans to jack up spending next year.

  • GM, Cruise, Honda to develop autonomous vehicles jointly

    General Motors and Honda have joined forces with the tech firm Cruise to develop autonomous vehicles as the race to market self-driving cars continues, the companies announced Wednesday.

  • After lean years, Big Oil is under pressure to spend

    Executives at the world's biggest oil and gas companies are under growing pressure to loosen the purse strings to replenish reserves, halt output declines and take advantage of a crude price rally after years of austerity.