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Business

Jack Ma is ‘lying low’ focusing on hobbies and philanthropy

Alibaba Group Holding founder Jack Ma is “lying low” and focusing on hobbies and philanthropy. Following Ma’s criticism of China’s regulatory system last year, Beijing came down heavily on the company, leading to the shelving of financial affiliate Ant Group’s $37 billion initial public offering and an enforced restructuring of Ant. Ma, China’s best-known entrepreneur, […]

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Business Insane World

MacKenzie Scott donates $2.74 billion to ‘historically underfunded organizations’

MacKenzie Scott donated $2.74 billion to organizations that focus on the arts and combating racial discrimination. In divorce settlement with Jeff Bezos, Ms Scott became one of the richest woman’s in the world. She and Bezos were married for 25 years. At $193.5 billion, Bezos is currently the world’s’ wealthiest person, and Scott’s fortune is […]

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Business

Safe Bet: Cryptocurrency or Stock Market?

Investing your excess money in something ‘right’ is the best way to build your wealth, but picking the ‘right’ investment can be tricky. The stock markets have been around for decades, but cryptocurrency has made headlines lately. Here we take a look at how the traditional stock marketing industry works against the new age crypto […]

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Business World

El Salvador could become the first country to make Bitcoin cryptocurrency legal tender

El Salvador could become the first country in the world to make Bitcoin crypto-currency legal tender in the country. President Nayib Bukele said Bitcoin will make it easier for Salvadorans living abroad to send payments home. He said he would send the legislation to congress next week. Should it pass, the move would open up […]

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Business Insane

United Airlines is planning to fly passengers on supersonic jets by 2029

United Airlines announced a deal to buy 15 supersonic jets, planning to carry passengers on the ultra-fast planes by 2029. If the airline can follow through with its plan, these would be the first commercial supersonic flights since the grounding of the Concorde jet in 2003. The economics of that fuel-guzzling supersonic jet and restrictions […]

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Business India

Tata Steel to continue paying salaries of deceased Covid-19 workers in India

Tata Steel has said it will continue to compensate the families of its workers in India that die of Covid-19. The firm said it will pay deceased employees’ salaries, housing and medical benefits until what would have been their retirement at the age of 60. It also pledged to cover the education costs of the […]

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Business

Italy fines Ryanair $5.12 million for not refunding flight tickets cancelled due to Covid-19 emergency

Italy’s antitrust authority fined Ryanair $5.12 million for not refunding customers for flights cancelled after June 2020 due to the COVID-19 emergency, the watchdog said on Monday. The regulator added that the Irish airline had a “seriously unfair conduct” in cancelling planned flights, using the pandemic as the reason, and giving passengers vouchers rather than […]

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Business

Crypto-mining, crypto-trading halt operations in China amidst increased scrutiny

The catalyst for the crypto slump on Sunday were cryptocurrency “miners” – who mint cryptocurrencies by using powerful computers to solve complex maths puzzles – after firms halted Chinese operations in the face of increasing scrutiny from authorities. The attention on miners in China – who account for some 70% of supply – is the […]

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Business World

Cryptocurrencies fall over the weekend; Bitcoin approaches $30k

Bitcoin prices fell as much as 13% on Sunday, further extending losses for the week. Bitcoin which accounts of nearly half the cryptocurrency market fell to the lowest of $31,179 far off its all time high above 64,000 just over a month ago. By Sunday evening, Bitcoin recouped some of its losses. It was trading […]

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Business

WeWork: Office sharing company reports $2.06 billion quarterly loss

Office sharing commercial real estate company WeWork has posted a $2.06 billion quarterly loss after being hit hard by Covid-19. The announcement comes as WeWork prepares for its stock market debut. The company’s first attempt to go public collapsed in 2019 over concerns about its business model and co-founder Adam Neumann’s leadership style. Since Mr […]

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Business

Elon Musk hints at Tesla holding onto Bitcoin despite crash 💎

The market value of Tesla Inc’s bitcoin holdings fell by half to $1.26 billion, close to the electric car maker’s purchase cost, as the cryptocurrency’s value plunged following a crackdown by the Chinese government. On Wednesday Chief Executive Elon Musk signalled that the company still is not selling, tweeting symbols for diamond hands to his […]

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Business

Five women sue Amazon.com for gender and racial bias

Amazon on Wednesday received five new lawsuits by women who worked in corporate or warehouse management roles, and accused the online retailer of gender bias, racial bias or both. The women, ages 23 to 64, accused Amazon of favouring men over women in career growth, allowing supervisors to denigrate them, and retaliating after they complained. […]