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Cryptocurrency boom breathes life into Alpine village

Up until a century ago, the southern Swiss village of Gondo was famous for gold mining, but the industry closed and Gondo fell on harder times. Now the miners are back and helping revitalise the tiny village on the Italian border, only they are no longer looking for gold.  Tucked away in a windowless bunker in Gondo,…

Women face uphill wage battle in British finance sector

There had never been much doubt that in London’s testosterone-fuelled financial sector female workers’ salaries lagged far behind those of their mostly male colleagues.Now this has been confirmed in black and white after the British government forced UK-based banks to publish their own so-called gender pay gaps.Prime Minister Theresa May’s Conservative government demanded that individual…

Daimler and BMW to merge car-sharing services

German carmakers Daimler and BMW said Wednesday they would merge their car-sharing services Car2Go and DriveNow, creating a European giant with around four million users to take on challengers like Uber.‘We will not leave the task of shaping the future of urban mobility to others,’ Daimler chief executive Dieter Zetsche said of the merger, which…

Will the WTO survive Trump?

An international organisation that Donald Trump demeans, undermines and then embraces when it suits his interests: probably sounds familiar within NATO, or the UN.Now it’s time to add the World Trade Organization to the list.The early signs of the US president’s intentions towards the Geneva-based trade body all pointed towards hostility.As a candidate he called…

Wall Street sinks on deepening tech woes

Wall Street edged lower on Wednesday, with the Nasdaq sinking amid continued misfortunes among leading tech companies.The rocky trading session saw stocks in and out of negative territory as they struggled to right themselves after tumbling in three of the last four trading days, leaving them with declines of two and four percent since Thursday.The…

US economy grew at a faster pace in fourth quarter 2017

The US economy grew significantly faster at the end of 2017 than previously reported, as consumer spending hit a three-year high and business investment rose, the government reported Wednesday.The rosier revised estimate for the October-December period was a modest shot in the arm for President Donald Trump, whose trade policies face stiff opposition at home…

G7 nations agree on a ‘common vision’ for AI

Group of Seven countries have agreed to a ‘common vision’ for the development of artificial intelligence, a Canadian minister said Wednesday.Officials met in Montreal for a jobs and innovation forum ahead of Canada’s hosting of the G7 industrialized nations summit from June 8-9 in La Malbaie, Quebec.‘G7 innovation ministers have agreed on some common approaches…

Consumer law crackdown to protect buyers

Companies such as airlines will be forced to reveal the full price of pre-selected extra costs, like luggage, movies or meals, in their initial advertised prices, under changes to law brought to parliament. A review of the Australian Consumer Law found the payment process was potentially misleading and could result in consumers shelling out more…

Nestle competition dents A2 Milk shares

Shares in A2 Milk are sharply lower after a report that global food and dairy giant Nestle has launched an infant formula product that uses the A2 beta-casein protein, the same protein that is the mainstay of A2 Milk’s products. The New Zealand Herald said Nestle has launched its A2 product under the brand Illuma…

Qld miners return to work after 200 days

Worker’s at Glencore’s Oaky North coal mine have returned to work following an end to one of Queensland’s longest-ever industrial disputes. More than 70 per cent of employees of the mine voted in favour of the new enterprise agreement on Tuesday. It comes after a three-year bitter dispute with the CFMEU which left 175 workers…