Business

Gold prices surged to a more than two-week high amid China’s return on gold buying and rising geopolitical tensions following the Syrian unrest. However, an analyst suggests caution. ADVERTISEMENT Gold prices rose for the past two trading days, fuelled by mounting haven demands and China’s renewed gold purchases. Expectations for further rate cuts by major central banks have also contributed …

“Booksellers save lives. Period,” the author said in a statement through his publisher, Little, Brown and Company. “I’m happy to be able to acknowledge them and all their hard work this holiday season.” ADVERTISEMENT Staffers at Thank You Books in Birmingham, Alabama, San Francisco’s City Lights Books and The Nook in Cedar Falls, Iowa, are among 600 booksellers receiving $500 …

BP is creating a joint venture to bring about ‘one of the largest global offshore wind developers’ while lowering its share of investment in renewables. ADVERTISEMENT British oil company British Petroleum (BP) and Japan’s largest power firm JERA have created an equally owned joint venture to create one of the world’s biggest global offshore wind businesses. BP and JERA agreed …

The trust divides control of the company equally among four of Rupert Murdoch’s children – Prudence, Elisabeth, Lachlan and James – after he dies. Lachlan Murdoch has been the head of Fox News and News Corp since late last year, when his father stepped down. ADVERTISEMENT A court has ruled against Rupert Murdoch’s effort to change his family’s trust to …

European car markers are struggling to keep up with their Chinese counterparts in electric cars, a key pillar of the green transition that the EU is pursuing in order to bring in electric-only vehicles by 2035. ADVERTISEMENT Chinese electric battery giant CATL and car maker Stellantis have announced they are to build a major battery factory in northern Spain. The …

Management and unions at Volkswagen have yet to find common ground in talks concerning the German car maker’s proposal on possible job cuts and plant closures. Workers took strike action on Monday. ADVERTISEMENT The fourth round of collective bargaining negotiations at Volkswagen AG on Monday failed to find a solution between management and unions.  Thousands of employees downed tools for …

Nvidia shares slid amid an escalation in the tech trade war as China launched a probe into the company on suspicion of breaching the anti-monopoly law. ADVERTISEMENT Nvidia’s shares fell as China opened a probe into the tech giant on suspicions of violation of the country’s anti-monopoly law. The investigation followed the Biden administration’s fresh restrictions on AI chip export …

Crude oil prices retreated from Monday’s gains amid weak demand outlooks, following disappointing Chinese international trade data for November. ADVERTISEMENT Crude oil prices slid following disappointing China’s international trade data in the Asian session on Tuesday. At 6 am CET, Brent futures were down 0.37% to $71.9 per barrel, and the WTI futures slipped 0.45% to $68.06 per barrel. The …

Shares in Hong Kong jumped after a report on the meeting by the ruling Communist Party’s Politburo said leaders would “implement more active fiscal policies and moderately loose monetary policies”. ADVERTISEMENT China’s top leaders have pledged to loosen monetary policy and provide more support for the slowing economy. The pledge comes as Premier Li Qiang, the second-highest ranking politician in …

Thousands of employees downed tools for four hours in nine German plants as the car maker and its unions opened a new round of negotiations aimed at finding a resolution to the standoff. ADVERTISEMENT Further industrial action has been taking place at Volkswagen in Germany as bosses and unions began a new round of negotiations over pay cuts and plant …