New Saudi Crown Prince hopes to diversify away from oil

By : HIDEMITSU KIBE DUBAI — By a rare royal decree, Mohammed bin Salman, 31, was recently named Saudi Arabia’s new crown prince. King Salman, his 81-year-old father, dismissed nephew Mohammed bin Nayef, who was first in line to the throne, favoring his own son instead. The decision was a break with the country’s tacitly […]

EU hits Google with record €2.4bn euro antitrust fine

The European Union’s competition watchdog has slapped a record 2.42 billion euro ($2.72 billion) fine on internet giant Google for breaching antitrust rules with its online shopping service. European regulators said Tuesday that “Google has abused its market dominance as a search engine by giving an illegal advantage to another Google product, its comparison shopping […]

America can afford to provide all Americans with government health care, says Warren Buffett

Admitting that he’s not an expert in health-care, political heavyweight and investment tycoon Warren Buffett is recommending America scrap its health-care system in favor of a British-style single-payer, state-run plan. The Berkshire Hathaway CEO said America “can afford” to provide all Americans with government health care. A single-payer program is “probably is the best system,” […]

The scandals that drove Travis Kalanick, Uber’s billionaire founder and CEO out

Uber’s embattled chief executive Travis Kalanick has resigned from the firm, following pressure from shareholders. His resignation comes after a chaotic few months at the firm, including a series of scandals about sexual harassment, macho culture and the departure of senior executives. Mr Kalanick had already said that he was taking an indefinite leave of […]

India cattle trade ban to halt beef exports, lead to job losses

By Mayank Bhardwaj NEW DELHI- India’s ban on the trade of cattle for slaughter threatens $4 billion in annual beef exports and millions of jobs if the government does not revoke the stoppage decreed last week, according to two industry officials. In the latest setback to the Muslim-dominated meat industry, Prime Minister Narendra Modi’s government decreed […]

Moody’s downgrades China rating to A1 from Aa3 due to slowing economy, growing debt

Moody’s Investors Service on Wednesday downgraded China’s credit rating to A1 from Aa3, changing its outlook to stable from negative, citing concerns efforts to support growth will spur debt growth across the economy. Foreign-exchange markets reacted to the news, with the Australian dollar dropping from levels around $0.7480 to as low as $0.7452 in the […]

The Kushner’s apologize for using the name of Trump’s in-law in promoting properties

BY JEFF HORWITZ AND ALICIA A. CALDWELL The Kushner Companies has apologized for including the name of President Donald Trump’s son-in-law in materials promoting a New Jersey development to foreign investors seeking potential U.S. residency. Jared Kushner himself is not involved in his family’s development project. But his family ties have drawn new scrutiny to […]