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…
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…
According to Harvard University researchers writing in a peer-reviewed journal, even as Exxon Mobil Corp.’s own scientists determined man-made global warming was real and a serious threat, it spent the last 40 years undermining public concern over climate change. “Exxon Mobil contributed to advancing climate science — by way of its scientists’ academic publications —…
In an effort to reduce food contamination by using blockchain, IBM has been joined by a group of global food giants including the likes of Nestle, Unilever and Walmart. In order to trace the source of contaminated produce IBM would enable global food businesses to use its blockchain network, the corporation announced on Tuesday. According to…
Announcement about working on a new way for mobile phones to transfer large amounts of data without using wires or WiFi connections is expected to be made by a startup backed by Tony Fadell, one of the fathers of the Apple iPod. Samsung Electronics Co Ltd, Foxconn parent Hon Hai Precision Industry Co Ltd and…
The globe’s two biggest emerging economies are squaring off over their shared border while the world has focused on North Korea. A hot spot for increasing military tension in recent months has been China and India’s borderlands, though geographically desolate and inhospitable. Given that both are equipped with nuclear weapons, the situation could escalate even as the two…
According to report released by the Economist Intelligence Unit on Wednesday, global livability is finally showing some telltale signs of an improvement after 10 years of back-to-back slumps. But, continuing to threaten world living standards is the continued threat of terrorism that includes several high-profile attacks in Europe, said a EIU statement on the report. The…
It was expected that the strategy to clear a global oil glut struck between the OPEC and Russia to succeed within six months. But now it could be years that the battle could last for. Already nine months later than originally expected, next spring, tBottom of Form he Organization of Petroleum Exporting Countries and its…
In a proposal cheered by British businesses but which is likely to raise eyebrows on the continent, U.K. wants to maintain tariff-free, bureaucracy-light trade with the European Union for a period after Brexit and perhaps permanently, the U.K. government said. After it leaves in March 2019, it will seek to negotiate a “close association” with the…
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