Category: Business

Climate activists targeted 15 Amazon depots across Europe on “Black Friday” and the world’s biggest e-commerce company also faced protests by workers and delivery drivers in Germany, France, and Italy. Amazon, based in Seattle, is facing criticism from climate activists who say excessive consumption harms the environment while an alliance of trade unions say the company does not pay workers enough nor enough tax to governments. “Black Friday epitomises an obsession with overconsumption that is not consistent with a liveable planet,” the Extinction Rebellion group said after blocking 13 Amazon…

Norway’s revenues from oil and gas production hit a record high this year and are showing no signs of slowing down.While Norway is a major supporter of clean energies, it is also a firm believer that the energy transition can only be achieved by using the profits from oil and gas production. The future is bright for Norway’s energy giant Equinor, which will be able to take advantage of growing energy demand and play a leading role in the coming energy transition. Norway’s oil and gas production is at an…

The directors general of Sweden’s Financial Supervisory Authority and Environmental Protection Agency have called upon both the EU and Sweden’s government to ban cryptocurrency mining. Since China banned Bitcoin ,wannabe get-rich-quick artists have been looking for somewhere else to squander squillions of megawatt-hours minting imaginary internet money. Cheap hydroelectric power makes the Nordics tempting, with Sweden alone using 1TWh on it last year, but they would rather keep it for other uses than ransoming encrypted files and buying illegal drugs. Some will doubtless call that selfish and short-sighted of them….

Samsung Electronics Vice-Chairman Jay Y Lee is visiting North America in his first high-profile trip after serving jail time for bribery, with a decision imminent on the company’s planned $17 billion US chipplant. Lee left Seoul on Sunday and his trip to Canada and the United States is expected to coincide with a decision on the location of the new plant, Yonhap and other local media said. A site in Texas’ Williamson County, near the city of Taylor, offered the better incentives package among various sites Samsung has been considering…

U.S. employment increased more than expected in October as the headwind from the surge in COVID-19 infections over the summer subsided, offering more evidence that economic activity was regaining momentum early in the fourth quarter. Nonfarm payrolls increased by 531,000 jobs last month, the Labor Department said in its closely watched employment report on Friday. Data for September was revised higher to show 312,000 created instead of the previously reported 194,000. Economists polled by Reuters had forecast payrolls rising by 450,000 jobs. Estimates ranged from as low as 125,000 jobs…

The dollar was firmer early on Friday, helped higher by upbeat economic data though was headed for its second week of declines while commodities currencies slipped as traders rejigged their positions after this week’s brisk rally. Better jobs and housing data and rising U.S. Treasury yields helped the dollar rise towards the end of the U.S. session on Thursday, gains it held in Asian hours. The dollar index was last at 93.736, up from the three-and-a-half week low of 93.494 it had touched a day earlier. The late gains day…

The plunge occurred at 7:34 a.m. New York time, according to Binance’s website The price of Bitcoin appeared to rapidly — and only temporarily — plunge about 87% on Binance’s U.S. exchange Thursday morning, sinking to as low as $8,200 from around $65,000. The price did nothing like that on other venues, and on Binance the level almost immediately snapped back to where it had been. The plunge occurred at 7:34 a.m. New York time, according to Binance’s website. Volume on the exchange in that minute was 592.8 Bitcoins, which…

Bank of America Corp (BAC.N) beat estimates for third-quarter profit on Thursday, boosted by strong growth across its businesses which executives said they expected to continue next quarter. Growth in loans and leases, higher spending on credit and debit cards, and strong equity-trading and M&A activity helped the bank record a 64% rise in earnings. Net interest income (NII), which measures how profitably a bank can lend out depositors’ funds, rose nearly 10% to $11.09 billion. Bank of America’s NII hit a low in the third quarter last year, but…