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Alibaba shares soar after $2.8 billion anti-monopoly fine

Alibaba shares soar after $2.8 billion anti-monopoly fine

The confrontation between Alibaba founder Jack Ma and the Chinese authorities proves once again that a huge fine is much better than even a small business reconstruction. The news that the e-commerce giant had got away with a record $2.8bn (£2bn) fine imposed by Chinese regulators revived demand for its shares.
08:37 2021-04-23 UTC+00
Huawei plans foray into vehicle sector

Huawei plans foray into vehicle sector

Huawei Technologies Co. is going to invest billions in researching self-driving and electric-car technologies. The company has been carrying out such plans for a long time. Huawei is finally moving ahead with its intention to build electric vehicles.Currently, Huawei is working on the creation of prototypes. Reportedly, the prototypes can handle complex urban environments.
13:45 2021-04-22 UTC+00
IMF: eurozone to return to pre-crisis levels next year

IMF: eurozone to return to pre-crisis levels next year

The International Monetary Fund is sure that the third wave of the coronavirus pandemic will not destroy the hope for the economic rise to the pre-crisis levels in the next year. The extension of numerous containment measures in most European countries should not have a negative impact on economic growth. On the contrary, the decision to keep safety measures may boost the economic revival.
12:23 2021-04-22 UTC+00
China’s digital currency poses threat to US dollar dominance

China’s digital currency poses threat to US dollar dominance

China's central bank is making impressive strides in creating its own digital national currency. At the same time, US officials are getting deeply concerned about the country's success in this regard, considering the digital version of the yuan a serious potential threat.
12:21 2021-04-22 UTC+00
Fed pledges to use all tools to support US economy

Fed pledges to use all tools to support US economy

The US financial authorities have pledged to support the economy for as long as it takes. They also promised not to leave Americans to fend for themselves in dealing with the consequences of the COVID-19 pandemic. The Federal Reserve commits to using all its tools to promote the recovery.However, the regulator has few useful tools left at its disposal.
07:46 2021-04-22 UTC+00
Germany postpones reopening amid rising Covid-19 cases

Germany postpones reopening amid rising Covid-19 cases

Europe’s most powerful economy remains shut down. The German authorities believe that it is still too early to reopen the economy as the current conditions are extremely unfavorable. “There is not a time for opening. This is the time for being very tough, for keeping infection rates down,” German Finance Minister Olaf Scholz said.
18:06 2021-04-21 UTC+00
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