OPEC has dramatically lowered its forecast for oil demand growth this year, citing China’s coronavirus outbreak as the “major factor” behind its decision. In a closely-watched monthly report published Wednesday, the Middle East-dominated producer group downwardly revised its outlook for global oil demand growth to 0.99 million barrels per day (bpd) in 2020. That’s down […] Read more
The European Central Bank has been leading the push to stimulate Europe’s economy, keeping the cost of borrowing for local businesses and households low. But some now say its financial toolkit is almost empty. This is important for Small and Medium Enterprises, which represent more than 99 per cent of all European non-financial companies. They […] Read more
Boeing fired CEO Dennis Muilenburg, saying Monday it replaced him with the company’s chairman as the nation’s biggest manufacturing exporter struggles to regain the trust of regulators, customers and the public in the wake of two fatal crashes of its best-selling plane, the 737 Max. Muilenberg is out immediately, and Chairman David Calhoun will become CEO […] Read more
NBCUniversal CEO Steve Burke plans to pursue personal interests rather than taking a job at a rival large media company when he steps down from his chairman position at NBC in August, according to people familiar with the matter. Burke, 61, may acquire small businesses or start a venture capital fund while spending more time […] Read more
In the first few years of the 21st century, the world has become smaller for many reasons: globalization means that we are affected by what happens in the rest of the world, wherever we live. Translation services have grown their property; the Internet has given many new ways to do business and conduct business dialogues. […] Read more
Saudi American relations have reached a level of maturity where the two countries are keen to maintain these strong ties, and continuously develop them, whatever may be the circumstances. Both countries have a longstanding relationship that has deepened with common desire for greater cooperation. Over the years, the leaders of Saudi Arabia and the US, […] Read more
Lingerie giant Victoria’s Secret has announced its 2019 annual fashion show will no longer go ahead. The news follows multiple controversies facing the brand over the last year, including accusations that shows lacked diversity and were sexist and outdated. Once a long-awaited pop culture highlight of the year, the Victoria’s Secret fashion spectacle used to […] Read more
Google will offer checking accounts next year, according to a source familiar with the company’s plans, representing big tech’s boldest move yet into the consumer banking business as most have focused on credit cards and payment platforms. The accounts for the project will be run by Citigroup and the Stanford Federal Credit Union. The Wall […] Read more
After a strong summer in the housing market, something is turning potential buyers on their heels. Just 21% of Americans say now is a good time to buy a home, a drop from 28% in September, according to a monthly sentiment survey by Fannie Mae. There was also a decline in the share of people […] Read more
A high-level committee of Saudi Basic Industry Corporation (Sabic) executives are working on a post-Aramco IPO (initial public offering) strategy, including possible acquisitions, as the kingdom puts the final touches on the critical stock market offering. “I am very optimistic,” Sabic Vice Chairman and CEO, Yousef Al Benyan, told a small roundtable of reporters at […] Read more
