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Companies & CEOs

Chinese authorities demand that Evergrande's founder pay the company's debts from his own funds

Double8TwoN
Chinese authorities have demanded that Evergrande founder Xu Jiaying direct his own savings to cover his company's debts. This was reported by Bloomberg, citing its sources. The directive was sent to the businessman shortly after the developer...

General Motors profits fall by 40% due to chip shortages

Myles Regan
General Motors (GM), the largest US automaker, presented its financial statements for the third quarter. The corporation's profit for the period fell by 40%, to $2.4 billion, and revenue fell by almost a quarter, to $26.8 billion. These results were...

Deutsche Bank's net profits soar by almost 30 times

jwalsh via flickr
Deutsche Bank, Germany's largest bank, saw its net profit attributable to shareholders rise almost 30-fold between January and September, to €1.794 billion, after a profit of €62 million a year earlier, the bank said in its financial statements....

Hertz car rental chain buys 100,000 Tesla electric cars

Gerard Stolk
On Monday, US car rental chain Hertz announced that it had agreed with Tesla to supply 100,000 of its electric cars. This is the largest order in Tesla's history; financial terms of the deal were not disclosed, but, according to media estimates, its...
Markets & Industries

Analysts: The gold market is in a balance of supply and demand

Andrzej Barabasz
In the third quarter, the global gold market saw a noticeable reduction in supply, but gold prices are not rising, remaining close to $1,800 per ounce. Professional investors are among those reducing their investments in gold, while private...

Climate start-ups raise $32B from investors since the start of the year

Wilson Liew
Technology start-ups aiming to fight climate change have raised $32bn from venture capitalists since the start of the year. This was reported by CNBC, citing a joint report by research firms Dealroom and London & Partners. This exceeds the...

Online broker Robinhood reports quadruple drop in crypto-trading activity

QuoteInspector.com
Equity trading app Robinhood reported significant revenue declines in the third quarter. Crypto-trading activity and cryptocurrency revenues fell the most, more than four times compared to the second quarter. Online broker Robinhood reported a big...

Nigeria launches its own digital currency

Omoeko Media
Nigerian President Muhammadu Buhari has announced the country's digital currency, the eNaira. eNaira is the first state electronic currency in the region. The coin was developed for the country's government by Barbados-based firm Bitt. The currency...
In-depth coverage

The challenges Covid-19 is posing to learning, teaching, and working in society

At enlightED Virtual Edition 2020, leaders of higher education institutions discussed taking “a crash course into the future”
>>> Zoom on Earth

For Etienne Couëlle, “the public health and economic crises have demonstrated just how resilient Oberthur Fiduciaire is”

Having been recently appointed as General Manager of Oberthur Fiduciaire, Etienne Couëlle must deal with a global health crisis that is expected to continue impacting economies around the world. Our discussion with this key player in the global security printing provides insight into a business that is as discreet as it is innovative. What has been the impact of the public health an...
World & Politics

European trade unions accuse EU leaders of ignoring citizens' wages

Tiia Monto
One of the main reasons why families in the European Union have been hit so hard by rising energy prices is low wages, but EU leaders at the summit sidestepped the issue, said Luca Visentini, general secretary of the European Trade Union...

G7 countries agree on common position on digital trade

Bernard Spragg. NZ
The Group of Seven (G7) member states have agreed on a common position on digital trade. This was stated in a joint communiqué published on the UK government website. "We oppose digital protectionism and authoritarianism, and today we adopted the G7...

UN believes situation in Myanmar will escalate into full-scale military conflict

Chuck Moravec
More than 1,180 people have been killed in Myanmar since the military seized power, UN Special Envoy for Myanmar Christine Schraner-Burgener has said. She believes the situation in the country may escalate into a full-scale military conflict. Ms....

Study: Young people are more likely to die from COVID-19 in poor countries

UN Women Asia via flickr
The age structure of COVID-related deaths at the end of 2020 differs between middle- and high-income countries. This was the conclusion reached by a World Bank expert team examining the relationship between age, number of deaths and national income...
Management & Strategy

PWC: Companies with their own value system prove more resilient during crisis

pxhere
According to the PwC report, companies with a strong corporate culture have adapted better to the current crisis caused by the COVID-19 pandemic, with employees complaining less about slowdowns in work processes and difficulties in communicating...

Obscure numbers: Why scorecards don't help make business better

pxfuel
Technologies enable us to collect a huge number of indicators. The accuracy of numbers creates the pleasing illusion of no ambiguity, and our ability to receive and process them creates an equally pleasing sense of control. But there are times when...

Walmart launches its own fintech startup

Mike Mozart
The Wall Street Journal (WSJ) reports that Walmart, a major US retailer, will create its own fintech startup led by former top Goldman Sachs executives. According to the newspaper, the startup will be a joint venture with venture fund Ribbit...

Amazon drops plans to require employees to work three days in offices

Thomas photography
Amazon has scrapped plans to require its workers to work three days a week in the office when they return. Team managers will now be able to determine the number of days they work in the office and remotely. Amazon will give its employees more...