Business

British authorities are asking Amazon to address concerns that its plan to buy a stake in food delivery platform Deliveroo could damage competition between businesses that do takeaways and those that deliver groceries. The Competition and Markets Authority gave the online shopping shopping behemoth five days to come up with legally binding proposals to address the competition concerns identified Wednesday. ...

The U.S. dollar declined against the euro on Tuesday after upbeat German economic data boosted the common currency. A monthly survey published Tuesday by a German economic research institute showed the economic sentiment for Germany has risen sharply in December 2019, buoyed mainly by better-than-expected exports data. The Leibniz Center for European Economic Research in Mannheim (ZEW) said the latest ...

European companies in China have been able to minimise the effect from the tariff war between Beijing and Washington, although some are considering relocating their businesses, the EU Chamber of Commerce said Monday. The world’s two biggest economies have been entangled in a lingering trade war for over a year, which has weighed on the global economy and resulted in ...

China’s trade with the United States sank again in November as negotiators worked on the first stage of a possible deal to end a tariff war. Exports to the United States fell 23% from a year earlier to $35.6 billion, customs data showed Sunday. Imports of American goods were off 2.8% at $11 billion, giving China a surplus with the ...

Iran’s President Hassan Rouhani on Sunday presented to parliament what he called a “budget of resistance” against crippling sanctions imposed by arch-enemy the United States. “Next year, similar to the current year, our budget is a budget of resistance and perseverance against sanctions,” Rouhani told parliament in remarks broadcast on state radio.

India’s largest car manufacturer Maruti Suzuki has proactively recalled 63,493 certain petrol Smart Hybrid (SHVS) variants of Ciaz, Ertiga and XL6 vehicles, the company said in a statement to the Bombay Stock Exchange late Friday. The vehicles were manufactured by an overseas global part supplier between Jan. 1 to Nov. 21 this year for a possible defect with the Motor ...

State-owned oil giant Saudi Aramco has raised a record $25.6bn (£19.4bn) in its initial public offering in Riyadh, reports BBC. The share sale was the biggest ever, surpassing that of China’s Alibaba which raised $25bn in 2014 in New York.Aramco relied on domestic and regional investors to sell a 1.5% stake after lukewarm interest from abroad. The IPO will value ...

The email looked legitimate, so Danielle Radin clicked on the link it contained, expecting to have her products included in a holiday gift guide. “I instantly regretted it,” says Radin, owner of Mantra Magnets, a website that sells wellness products. “It took me to some random website that looked like those pop-ups telling you that you’ve won the lottery.” Within ...

The US is preparing tariffs on $2.4bn (£1.85bn) worth of French exports as retaliation against the country’s new digital services tax, reports BBC. The top US trade official said the new tax, which France approved in July, unfairly targets American tech giants.He said the potential tariffs were intended to deter other countries from taking similar steps. The items that could ...

This year’s Black Friday was the biggest ever for online sales, as fewer people hit the stores and shoppers rang up $7.4 billion in transactions from their phones, computers and tablets. That’s just behind the $7.9 billion haul of last year’s Cyber Monday, which holds the one-day record for online sales, according to Adobe Analytics. Adobe measures sales at 80 ...