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Does Europe unfairly tax US imports? A detailed look

US President Donald Trump claims American exports face unfair duties when they reach European shores. But are they truly at a disadvantage?The baselineEuropean Commission officials believe the European Union and United States generally offer reciprocally open access to each other’s exports.American exports to Europe are subject to duties averaging three percent, close to the 2.4…

Amazon workers in Spain plan first ever strike

More than 1,000 Amazon workers in Spain are planning to go on strike next week against a planned drop in allowances and overtime, a first in the country, a union said Tuesday.‘We have announced a strike for the first time in Amazon Spain but it will only take place in the logistics centre of San…

GE shares down sharply after gloomy analyst report

General Electric shares fell sharply Tuesday after an influential Wall Street analyst said already-diminished financial expectations for the slumping industrial giant remain too lofty.Near 1545 GMT, shares of GE were down 4.0 percent at $14.50 following a report from JPMorgan Chase analyst G. Stephen Tusa, who dropped the price target on the company from $14…

US orders compliance overhaul at Industrial and Commercial Bank of China

The US central bank on Tuesday ordered the Industrial and Commercial Bank of China, the world’s largest by assets, to overhaul anti-money laundering and sanctions compliance at its New York branch.The consent order came after an exam by the Federal Reserve Bank of New York found ‘significant deficiencies’ at the branch in detecting and preventing…

China’s bike-share app Ofo raises $850 mn to expand overseas

Chinese bike-sharing start-up Ofo announced Tuesday that it has raised around $850 million from investors including e-commerce giant Alibaba, to finance its overseas expansion while it battles rivals in China.Ofo, whose lemon-yellow bicycles are ubiquitous in Chinese cities, said on the social network Weibo that it had raised $866 million dollars.The consortium of investors was…

British economy facing Brexit-induced struggle

Britain’s economy will face sluggish growth in the coming years on the back of Brexit fallout, finance minister Philip Hammond revealed Tuesday in a key budget update.Gross domestic product (GDP) is projected to grow 1.5 percent this year, Chancellor of the Exchequer Hammond said, hiking prior guidance of 1.4 percent thanks to increasing productivity and…

Hungry Deutsche Bank looks to reclaim M&A laurels

After years of pain that saw clients flee as its very survival appeared in doubt, Germany’s Deutsche Bank hopes to reclaim a place of prestige alongside global investment banking titans in the European merger market.Deutsche can ‘get back to the level of the very top players’ – mostly US-based firms like Goldman Sachs or JP…

Executive Series: LatAm Autos Ltd (LAA) Co-Founder and Executive Chairman, Tim Handley

In this short video we discuss:• Key elements of LAA’s full year 2017 results• Some of the near term challenges in the Latin American operating environment including political decisions and currency fluctuations  • Company’s strategy to monetise its strong market position and cross-selling products to accelerate positive cash flow• Opportunities for further growth through the company’s…

US stocks fall as trade war fears rise

Wall Street stocks tumbled Tuesday on growing worries about a trade war as President Donald Trump replaced his Secretary of State and was reportedly planning new tariffs on China.The Dow Jones Industrial Average fell 0.7 percent to 25,007.03.The broad-based S&P 500 shed 0.6 percent to 2,765.31, while the tech-rich Nasdaq Composite Index dropped one percent,…

Executive Series: Adairs Limited (ADH) CEO and Executive Director, Mark Ronan

In this short video we discuss:• Highlights of the HY17 results• The central factors that informed the recent turnaround including monitoring decorating trends, product quality, staff training and the Adairs loyalty program• ADH’s focus on maintaining recent operating momentum and the thinking behind the  group expanding its geographic footprint to include New Zealand.• Mark’s outlook…