MONEY

Oil prices soar after attacks on Saudi facilities

Oil prices soar after attacks on Saudi facilities

Oil prices surged by nearly 20% after two attacks on Saudi Arabian facilities on Saturday knocked out more than 5% of the world’s supply. Brent crude, the international benchmark used by oil traders, jumped to $71.95 a barrel at one point. US oil prices also spiked, but both trimmed gains as President Donald Trump authorised […]

WeWork founder Adam Neumann’s voting power curbed

WeWork founder Adam Neumann’s voting power curbed

Office space company WeWork says it is changing its corporate structure in a bid to allay investor fears that have put its stock market debut in doubt. Its parent firm, the We Company, said it was reducing the voting power of founder and chief executive Adam Neumann, among other changes. The move comes amid signs […]

Stock markets drop on new Trump China tariffs

Stock markets drop on new Trump China tariffs

European stock markets have fallen after the surprise decision by Donald Trump to impose new tariffs on a further $300bn of Chinese imports. The FTSE 100 and the leading indexes in France and Germany all fell by more than 2% each. The US president’s decision came after the latest round of bilateral talks showed little […]

Pound falls lower on no-deal Brexit prospect

Pound falls lower on no-deal Brexit prospect

The pound has continued to fall on currency markets as the government insists that the UK is prepared to leave the EU without a deal. Sterling hit a fresh two-year low of $1.2120 against the dollar on Tuesday, before recovering some ground. The currency also slid against the euro, falling to €1.0881 at one point. […]

Alphabet and Amazon rake in higher revenues

Alphabet and Amazon rake in higher revenues

Google-parent Alphabet and the online retail giant Amazon have both reported a near 20% rise in revenues for the latest quarter. Alphabet said advertisers were spending more on its search and YouTube services. However Amazon reported profits that were lower than expected, as it invests to speed up delivery times. Both firms are under scrutiny […]

Alibaba opens door to US sellers on its oldest platform

Alibaba opens door to US sellers on its oldest platform

Chinese e-commerce giant Alibaba has opened its doors to US sellers on its oldest platform, Alibaba.com. It now offers tools to allow US firms to sell on the business-to-business platform in the US and globally. The move will allow Alibaba, traditionally China-focused, to compete with global e-commerce giants like Amazon. Alibaba.com says it has 10 […]

China’s new Nasdaq-style board begins trading

China’s new Nasdaq-style board begins trading

Trading on China’s new Nasdaq-style technology board began on Monday and got off to a solid start. Most shares on the so-called Star market, operated by the Shanghai Stock Exchange, surged on debut. Last year China said it would launch the technology-focused trading board, as it sought to build on Shanghai’s role as a global […]

Boeing takes $5bn hit over grounding of 737 Max

Boeing takes $5bn hit over grounding of 737 Max

Boeing is taking a $4.9bn hit to cover costs related to the worldwide grounding of its 737 Max aircraft. The charge is set to wipe out profits when the world’s biggest planemaker posts quarterly results next week. In a statement, Boeing also said its “best estimate at this time” is that the aircraft will return […]

UK workers who lose jobs to AI will be retrained

UK workers who lose jobs to AI will be retrained

Workers whose jobs might become obsolete as a result of automation are to receive help in retraining from a new national government scheme. Up to 20 million manufacturing jobs around the world could be replaced by robots by 2030, according to analysis firm Oxford Economics. The scheme will support workers by helping them find a new […]

KLM breastfeeding policy causes turbulence

KLM breastfeeding policy causes turbulence

Dutch airline KLM has caused an uproar on Twitter after telling a customer it might ask mothers to cover themselves while breastfeeding. KLM told Heather Yimm that breastfeeding on flights is allowed, but if other passengers are offended they may be asked to cover up. The airline’s response has sparked a backlash on Twitter, with […]

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