September 27, 2018
Petrobras hit with $853m corruption fine
Petrobras, Brazil's state oil company, has agreed to pay more than $853m (£650m) to the US and Brazil, ending a long-running corruption investigation. The probe stemmed from a bribery scheme at the firm, which involved millions in payments that were…
September 7, 2018
Deutsche Bank’s top investor is selling out
One of Deutsche Bank's top investors is selling out at an awkward time for Germany's biggest lender. Chinese conglomerate HNA Group plans to offload its entire stake in the bank, according to a source with knowledge of the situation. The source said…
September 6, 2018
Bitcoin bloodbath — cryptocurrency plunges 20% in two days
Bitcoin investors are getting their digital butts kicked lately. Hard. Bitcoin prices have plunged more than 20% in the past two days. Ethereum, Litecoin, Ripple and other cryptocurrencies have suffered similarly large drops. The reason for the…
September 5, 2018
Nigeria slaps $2bn bill on phone giant MTN
Nigeria has asked mobile phone operator MTN to pay a $2bn tax bill, the company says. MTN challenged the figure, saying it related to activities over the past decade. It said it had settled the bill with a $700m payment. The tax demand is the latest…
September 4, 2018
Amazon’s market value tops $1tn
Amazon has briefly become the second US-listed firm to have a market value of more than $1 trillion (£779bn). Shares in the e-commerce giant rose nearly 2% to a high of $2,050.50 in morning trade before slipping back. Apple reached the same…
September 3, 2018
The trade war is deepening the gloom at Chinese factories
Chinese factories are losing export orders and laying off workers as the trade war with the United States exacerbates an economic slowdown that started earlier this year. Growth in output from China's huge manufacturing sector slumped last month to…
August 31, 2018
Coca-Cola to buy Costa coffee for £3.9bn
Coca-Cola is to buy the Costa coffee chain from owner Whitbread in a deal worth £3.9bn. Whitbread had intended to spin off the chain as a separate firm, but said a straight sale was more profitable. Chief executive Alison Brittain said Whitbread…
August 30, 2018
Argentina asks IMF to release $50bn loan as crisis worsens
Argentina's government has unexpectedly asked for the early release of a $50bn (£37.2bn) loan from the IMF amid a growing economic crisis. President Mauricio Macri said the move was designed to restore confidence in the Argentine economy. The…
August 29, 2018
US economic growth revised up to 4.2% for the second quarter
The US economy grew at a faster pace than initially thought in the second quarter, according to revised figures. The Commerce Department's second estimate for the April-June period put growth at an annualised 4.2%, slightly up from the previous…
August 28, 2018
Toyota to invest $500m in Uber in driverless car deal
Japanese carmaker Toyota is to invest $500m (£387m) in Uber and expand a partnership to jointly develop self-driving cars. The firm said this would involve the "mass-production" of autonomous vehicles that would be deployed on Uber's ride sharing…