Commercial

Austrian Chancellor Supports Nord Stream 2 Pipeline, Despite ‘US Scrutiny’

Earlier, Germany voiced support for the construction of the second Nord Stream pipeline amid criticism from US President Donald Trump, who has urged EU countries to abandon the project and buy American liquefied natural gas (LNG) instead.

Save
GM to slash 14,700 jobs in North America

General Motors will lay off 14,700 factory and white-collar workers in North America and put five plants up for possible closure as it restructures to cut costs and focus more on autonomous and electric vehicles. The reduction includes 8,100 white-collar workers, some of whom will take buyouts and others who will be laid off.

Save
Payback: Florida Sues Big Pharma for Aiding and Abetting US Opioid Crisis

Florida is suing two major US drugstore chains, Walgreens and CVS, for their alleged contributions to the opioid crisis in the state and nationally. On Friday, Florida Attorney General Pam Bondi announced that the two drugstore chains had been added to a state-court lawsuit filed last year against Purdue Pharma, which manufactures OxyContin (an opioid […]

Save
Big giants in the room? APEC failure as leaders cancel joint statement amid US-China spat

For the first time, leaders of 21 Asia-Pacific economies have failed to issue a joint communique, as tensions between the US and China over trade and investment poisoned their annual summit. Pointing to the “two big giants in the room,” the Asia-Pacific Economic Co-operation’s (APEC) chair, Papua New Guinea (PNG) Prime Minister Peter O’Neill, informed Sunday’s closing news […]

Save
Trump Summit No-Shows Point to Waning US Influence in Region – Report

By not showing up, the US president – and thereby the nation he represents – loses ‘face’ in Asia, according to reports. US President Donald Trump skipped two major summits in Asia: the East Asian Summit hosted by the Association of Southeast Asian Nations in Singapore, and the Asia-Pacific Economic Cooperation (APEC) meetings in Papua New Guinea, leaving US Vice President […]

Save
Do the Math: Now Cheaper to Build Wind Farms Than Keep Coal Plants Active

Global investors report that after all the data is sorted it is now cheaper to build a new solar or wind farm than to maintain an existing coal plant.

Save
Iranian central bank disconnected from SWIFT messaging – US treasury

The Iranian Central Bank has been cut off the SWIFT financial messaging system, the US Treasury Department has said. Disconnection makes it more difficult for the Islamic Republic to settle import and export bills.

Save
E-commerce behemoth Alibaba smashes ‘Singles Day’ records with $1bn in sales in just 85 seconds

Chinese e-commerce giant Alibaba has smashed records for its Singles Day, the world’s biggest 24-hour shopping event, despite an ongoing trade war with the US and waning domestic interest in the event.

Save
‘Trade war is the most stupid thing in the world’ – Jack Ma

The widening trade conflict between the world’s two largest economies, China and the US, is senseless, according to Alibaba co-founder Jack Ma. The purpose of trade should be to promote peace and communication rather than conflict, he said at the China International Import Expo in Shanghai.

Save
European States Line Up for Turkish Stream Gas, Casting Shadow on US LNG Future

A number of European countries have recently signaled willingness to receive Russian natural gas through the Turkish Stream pipeline. Italy, Bulgaria, Serbia, and Hungary are seeking to boost purchases of Russian hydrocarbons. In light of this trend the future of the expected US LNG boom seems bleak.

Save
Moody’s projects increase in foreign investments flowing into Russia

Good financial results shown by Russian companies may facilitate the return of foreign investment to the country, Moody’s senior vice president Kristin Lindow told Sputnik news agency. “…Recent strong corporate profits quite naturally can result in repatriation of profits by foreign investors. Also, the cleanup that the CBR (Central Bank of Russia) has done in […]

Save
Google Cancels Plans for Berlin Campus Over Local Protests

In a surprising victory, local protesters won a battle against the US tech giant, which wanted to revamp a local building into a technology campus. The residents of Kreuzberg, a part of Berlin, have succeeded in repelling Google from developing a campus in their neighborhood.

Save
US’ worst ecological nightmare? RT talks little-known oil spill leaking crude for 14yrs

For 14 years, an “underreported” oil spill has been leaking hundreds of barrels of crude each day into the Gulf of Mexico. While there is no major outcry from the authorities, it could become the US’ worst ecological nightmare.

Save
Money talks: Top US firms to visit Saudi business forum ignoring alleged grisly murder of critic

Senior executives of major Western corporations will still attend Saudi Arabia’s business forum despite the grizzly details of the alleged murder of journalist Jamal Khashoggi. Goldman Sachs, Pepsi, Thales and EDF senior executives are all expected to attend Saudi Arabia’s business forum, dubbed as the ‘Davos of the Desert’ next week.

Save
Denmark Deciding Nord Stream 2’s Fate

The Nord Stream 2 gas pipeline to Europe will double Russian natural gas supplies to Germany via the Baltic Sea and reduce transit across Ukraine. On August 10, the operator of the Nord Stream 2 gas pipeline construction project was forced to apply for an alternative pipeline route in Denmark, Sputnik contributor Dmitry Lekukh wrote.

Save