Residents from the Swiss village of Hedingen, near Zurich, have decided to donate some 110,000 Swiss francs ($121,000) in taxes paid by Glencore Xstrata’s billionaire chief executive Ivan Glasenberg – to countries where the firm had been accused of exploiting people and resources, according to a report by The Guardian.
New York regulators have fined 19 companies a total of $350,000, after a year-long sting operation found that these businesses had deceived consumers by posting fake online reviews.
New York State Attorney General Eric T. Schneiderman on Monday announced the penalties for the companies, adding that fake reviews were in violation multiple state laws against false advertising.
While women now represent 40 percent of the world’s labour force, female labour force participation rate globally have been stuck around the 50 percent mark for the past two decades, warned a new IMF study released on Monday, further highlighting that women were still holding fewer salaried jobs and receiving lower wages than men.
Pension funds, endowment plans and other large institutional investors who engage investment consultants for market advice failed to see a better return on their investment when compared to the rest of their peers, according to new academic research cited by the Financial Times on Sunday, begging the question what the true value of consultants’ recommendations really is.
The Chinese government is set to provide nearly 30 billion yuan ($4.90 billion) in state funding to domestic milk powder makers, in order to support sector consolidation and increase the ability of companies to compete with international competition, according to local media reports over the weekend.
Russia has reopened a 54km cross-border freight railway from its eastern border town of Khasan to the North Korean port of Rajin, in the hopes that the train network could eventually link across to South Korea and transport goods to the rest of Asia, according to a Bloomberg report.
To say that the trading environment has changed drastically over the last ten years would be an understatement. The all-encompassing use of the internet from home computers and mobile devices has taken investors out of the trading exchanges and into the environment of their choice.
Egyptian authorities have returned $2 billion that the Qatari government had deposited into its central bank, after two weeks of negotiations failed to bear any fruit on converting the funds into bonds, Reuters reported on Thursday.
Central bank governor Hisham Ramez said that Qatar had initially agreed to convert the sum into three-year bonds, but changed their minds at the last minute.
The spillover from Syria’s civil war is likely to cost neighbours Lebanon nearly $7.5 billion in economic damage by the end of next year, according to a report by the World Bank, highlighting the devastating effect of the prolonged conflict for not just Syria, but for the entire Middle East region.
Iran’s newly elected president Hassan Rouhani has promised to “never” develop a nuclear weapon under his reign, during a U.S. television interview ahead of a visit to the United Nations in New York.
Rouhani, who came into power in June, insisted that his country had no intention of ever building nuclear weapons and claimed to have full authority over any negotiations Tehran may have with the west over its controversial uranium enrichment programme.
