Spain’s coronavirus rates have shot up, fuelled by an increase in infections among younger people, as the country hopes to attract tourists to help kick-start its economy. The rate has risen to 204 infections per 100,000 over 14 days, just above levels in Russia, the health ministry said on Monday. The Japanese government is under
Investing
The collapse of the housing bubble in 2007 and 2008 caused a deep recession, which sent the unemployment rate to 10.0% in October 2009 – more than double is pre-crisis rate. As of September 2017, the unemployment rate has fallen to below its pre-crisis lows, indicating that the spike in unemployment was cyclical, in other
The BioNTech/Pfizer vaccine is less effective in halting the spread of the Delta variant than that of previous strains of coronavirus, according to a preliminary study by Israel’s health ministry. Data collected over the past month suggest the vaccine is 64 per cent effective at preventing infection among those who are fully inoculated, the ministry
Barclays has stopped UK customers from transferring funds to Binance after the Financial Conduct Authority last month said the digital asset exchange was not authorised to undertake crypto business within UK borders. The London-based bank on Monday notified clients of the prohibition on debit and credit payments to Binance, which it said would start immediately
Ross Ulbricht (born 1984) is a former darknet market operator most famous for creating and running the Silk Road market. He was arrested in 2013, and two years later a Manhattan federal jury found him guilty on seven charges including conspiracy to launder money, conspiracy to commit computer hacking, conspiracy to traffic narcotics by the means of the internet,
Beijing has broadened a crackdown on tech platforms, targeting more US-listed companies after ordering the removal of ride-sharing group Didi Chuxing from Chinese app stores in a move that sent tech shares tumbling. The Cyberspace Administration of China on Monday announced it was investigating Boss Zhipin, an online recruitment company, and Chinese truck-hailing apps Yunmanman
A new fund seeking to become the first UK-listed company dedicated to “clean hydrogen” investments has attracted Ineos as a cornerstone investor as it seeks to raise £250m in an initial public offering. The chemicals group controlled by billionaire Jim Ratcliffe said on Monday it would invest a minimum of £25m into HydrogenOne Capital Growth.
Salary caps are a hot topic in sports, debated from the most casual of sports fans to the highest tiers of professional clubs. Enforcing a limit to how much a team can spend on their athletes’ salaries has been around at least since the Great Depression. For most professional sports, teams must adhere to a
More than two-thirds of Chinese groups that have listed in the US this year have sunk below their initial public offering price, despite record levels of fundraising, as growing regulatory scrutiny hit investor sentiment. The poor share price performance comes after 34 Chinese companies raised $12.4bn in New York floats in the first half of
Russian higher educational institutions are expected to allow foreign students who have been inoculated with any vaccine to study in the country. “Universities will have a common policy on this issue. I think we will accept any vaccine,” said Pavel Shevtsov, deputy head of Rossotrudnichestvo, a foreign ministry agency overseeing students. Brazil’s top prosecutor has
Bribery vs. Lobbying: An Overview Bribery and lobbying are often conjoined in the public mind: Critics of lobbying suggest that it’s bribery in a suit. While both seek a favorable outcome, the two remain distinct practices. Bribery is considered an effort to buy power—paying to guarantee a certain result; lobbying is considered an effort to
China’s cyber security regulator has ordered that Didi be taken off domestic app stores just days after the ride-hailing giant raised $4.4bn in the biggest Chinese listing in the US since Alibaba in 2014. The Cyberspace Administration of China said on Sunday evening that Didi’s app had “problems of seriously violating laws on collecting and
A few years ago, the United Arab Emirates and Saudi Arabia went as far as secretly drawing a plan for a political union. While a confederation did not materialise, the Gulf’s autocratic states fought rebels in Yemen and stood united in a boycott of Qatar for its alleged support for Islamism. In the past few
The concept behind the value investing philosophy is simple: investors can realize tremendous gains by purchasing securities that trade well below their intrinsic value. In his books Security Analysis (1934) and The Intelligent Investor, (1949) Benjamin Graham—the godfather of value investing—explained to investors that, “a stock is not just a ticker symbol or an electronic
ByteDance is selling some of the artificial-intelligence technology that powers its viral video app TikTok to websites and apps outside China, as it broadens its revenue streams ahead of a long-anticipated initial public offering. A new division called BytePlus quietly launched in June and already lists customers all over the world, including in the US.
When hiring general managers for his Texas-based fast-food chain Layne’s Chicken Fingers, Garrett Reed typically looks for people with seven to 10 years of work experience. But this year he ended up promoting 19-year-old Jason Cabrera, at a salary of $50,000 plus bonuses. “Even my parents think I am too young to be a GM,
While diversification and asset allocation can improve returns, systematic and unsystematic risks are inherent in investing. However, along with the efficient frontier, statistical measures and methods, including value at risk (VaR) and capital asset pricing model (CAPM) are useful ways to measure risk. Understanding these tools can help an investor differentiate high-risk investments from stable
A trio of private investment groups led by SoftBank-owned Fortress have struck a £9.5bn deal to acquire Wm Morrison, Britain’s fourth-largest supermarket chain. Under the terms of a deal unveiled on Saturday morning, Fortress along with the Canadian pension fund CPPIB and a unit of Koch Industries will pay 252p a share along with backing
South Korean biopharmaceuticals group Celltrion is betting that new variants of Covid-19 will fuel growth in the US and Europe for treatments of the disease, even as these markets vaccinate their populations. The company expects its new Covid-19 antibody treatment to generate up to Won1.5tn ($1.3bn) of annual sales after animal tests showed it is
Investing and trading are two very different methods of attempting to profit in the financial markets. Both investors and traders seek profits through market participation. In general, investors seek larger returns over an extended period through buying and holding. Traders, by contrast, take advantage of both rising and falling markets to enter and exit positions
Sir Richard Branson may be trying to be first in the billionaire space race, but he believes there is plenty of opportunity in the market for companies like Virgin Galactic, Jeff Bezos’ Blue Origin, or Elon Musk’s SpaceX. “There’s room for 20 space companies to take people up there,” Branson said in an interview this
Donald Tusk returned to Polish politics on Saturday, in a bid to revive the fortunes of the struggling opposition and dethrone the ruling conservative-nationalist Law and Justice party. Poland is due to hold parliamentary elections by 2023 at the latest and Tusk, who stepped down as Polish prime minister in 2014 to become president of
The writer is chief executive of the National Housing Federation Four years have passed since the tragic fire at Grenfell Tower and the UK is still in the midst of the building safety crisis it uncovered. Today thousands of residential buildings, schools, hospitals and offices remain covered in flammable materials while arguments over who should
A substantial number of multinational corporations operate in China, both Western and otherwise. China is one of the world’s fastest-growing economies, and its inhabitants make up almost 20% of the world’s population. Since its adoption of free-market principles, China has become one of the world’s most hyped investment locations. Increasing numbers of large multinationals have
Scientists have warned that July 4 celebrations across the US risk accelerating the spread of the Delta variant of Covid-19, particularly in parts of the country where vaccination rates have lagged. The US is preparing for a celebratory Independence Day weekend replete with parades, concerts and firework displays, in contrast to last year, when many
Hackers began a ransomware attack on Friday, hitting at least 200 companies, according to cyber security researchers. In what appears to be one of the largest supply chain attacks to date, hackers compromised Kaseya, an IT management software supplier, in order to spread ransomware to the managed service providers that use its technology, as well
What Does the Department of Housing and Urban Development (HUD) Do? The purpose of the U.S. Department of Housing and Urban Development (HUD) is to provide housing and community development assistance and to make sure everyone has access to “fair and equal” housing. To achieve these goals, HUD runs or participates in many programs intended
Cathie Wood’s Ark Invest is creating a bitcoin exchange-traded fund, according to a filing with the Securities and Exchange Commission. Wood — a longtime bitcoin bull — has been buying up proxies for the digital asset in names such as Coinbase and Grayscale Bitcoin Trust. Now, the innovation investor is seeking to own the actual
Amazon executive Andy Jassy is set to be handed a stock package worth more than $200m when he takes over from Jeff Bezos as chief executive on Monday. In a regulatory filing on Friday, the company said it had approved the 61,000-share plan — to vest over the next 10 years — and elected the
The ultimate challenge for spies and analysts studying North Korea is accurately assessing the health of Kim Jong Un, the 37-year-old leader of the secretive state. Kim appeared on state television in recent weeks after a long absence and looked noticeably thinner. This sparked a frenzy of speculation among North Korea watchers from Seoul to