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…
August 27, 2018
Uber ‘to focus on bikes over cars’
Uber says it plans to focus more on its electric scooter and bike business, and less on cars, despite the fact it could hurt profits. Boss Dara Khosrowshahi said that individual modes of transport were better suited to inner city travel. He also…
August 24, 2018
LOL! Procter & Gamble wants to trademark LOL
Procter & Gamble has applied to trademark acronyms that are common in text speak. If successful, terms including "LOL" (Laugh Out Loud), "NBD" (No Big Deal) and even WTF (too rude to spell out here) could be used to market products. The global…
August 23, 2018
Trump: Impeach me and the market crashes
US President Donald Trump has responded to speculation that he might be impeached by warning that any such move would damage the economy. In an interview with Fox & Friends, he said the market would crash and "everybody would be very poor". He…