Taking extra long holidays during summer is ne reputation that Europeans have. Leaving businesses closed or operating on summer hours, the term “fellesferie” refers to two or three weeks of vacation time workers collectively take in July in Norway. construction holidays called “bouwvak” for several weeks is taken by employees in the building industry in…
In what was her fullest defense yet of the regulations enacted after the Great Recession, Federal Reserve Chair Janet Yellen said that without impeding economic growth and any changes to these rules should remain modest, reforms put in place after the 2007 to 2009 crisis have strengthened the financial system. “The balance of research suggests…
A management role in the business of Toshiba Corp’s memory chip unit is not being sought by Western Digital Corp (WDC.O), part of a group offering to buy the Japanese conglomerate’s chip unit, reported Reuters quoting several people familiar with the matter. With the aim to cover losses from its bankrupt U.S. nuclear business Westinghouse,…
The lira could be a big winner if Janet Yellen and friends add any fuel to the rally in emerging-market currencies at Jackson Hole. The likes of Goldman Sachs Group Inc and Societe Generale SA are bullish about Turkey’s currency even as it is on course for its seventh monthly gain. That’s because the lira…
Samsung’s de-facto chief Jay Y. Lee was sentenced to a five-year jail term by a court in South Korea on Friday. He was accused of paying bribes to gain government favors for the conglomerate In order to get support from ousted President Park Geun-hye, the court found Samsung Electronics vice chairman Lee guilty of giving bribes, local news…
The very existence of cash seems jeopardized in the world. Each country, at its own pace, has its opponents to hard currency and would like to see it go away for good. While some countries are just toying with the idea, others have already gone to great length to root out what they see as…
The music streaming giant’s IPO is scheduled to hit the market either late this year or in early 2018. Ahead of its U.S. stock market listing, in a significant development Spotify has disclosed that it has renewed its global licensing partnership with Warner Music Inc. The development marks its last big music royalty deal ahead…
The development marks the birth of a green, cost effective long-haul trucking industry. Next month, Tesla Inc is set to unveil a big-rig electric truck which will have a mile range of 200 to 300 miles. The development is a sign that Tesla is eyeing the commercial freight market as it aggressively ramps up the…
Analysts think the death of a major economic concept could dominate discussions as central bankers gather at the annual Jackson Hole symposium on Friday. It shows that inflation and unemployment have a stable and inverse relationship and is known as Phillips curve, an economic concept developed by New Zealand economist William Phillips. However, this inverse…
The Brazilian government has opened up an area for mining that it had recently dismantled – an Amazonian national reserve that is seemingly bigger than the size of Norway. The National Reserve of Copper and Associates (Renca) is split between the Northern Brazilian states of Amapa and Para and a decree from President Michel Temer…
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