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Category: firms

  • Oil firms evacuating US Gulf of Mexico staff as major hurricane looms By Reuters

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    Investor Empires

    HOUSTON (Reuters) – U.S. oil producers scrambled on Monday to evacuate employees from oil platforms in the Gulf of Mexico as the second major hurricane in two weeks was expected to hit offshore oil fields. A potential tropical cyclone in the Caribbean is expected to rapidly strengthen over the warm…

  • GMB calls for government to prioritise union-friendly firms in public contracts

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    Investor Empires

    GMB, one of the UK’s largest trade unions, is urging the government to favor businesses that recognize trade unions when awarding public contracts. The call comes after revelations that Amazon secured £1 billion in government contracts despite allegations of “union-busting” practices. At the Labor Party conference today, GMB will push…

  • Russia discussing hefty hike in ‘exit tax’ for foreign firms, RBC reports By Reuters

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    Investor Empires

    MOSCOW (Reuters) – Russian authorities are discussing increasing the one-time contribution foreign companies leaving the country must make to the state budget to 40 percent from 15 percent, the RBC daily reported on Friday, citing four sources. Russia has steadily tightened exit requirements for foreign companies since Western sanctions were…

  • Asia FX rises as rate cut dents dollar; yen firms as BOJ holds course By Investing.com

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    Investor Empires

    Most Asian currencies rose on Friday, while the dollar suffered losses after the Federal Reserve cut interest rates by a wide margin and began an easing cycle. The Japanese yen was among the best performing currencies, rising after the Bank of Japan kept interest rates on hold and said it…

  • Government targets large firms in crackdown on late payments to small businesses

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    Investor Empires

    The UK government is set to introduce new measures aimed at tackling the problem of late payments by large companies to small businesses, which contributes to the collapse of 50,000 small and medium-sized businesses every year. On average, late payments cost small businesses £22,000 a year, according to research by…

  • Asia FX firms, yen strong as dollar retreats on bets of bigger rate cut By Investing.com

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    Investor Empires

    Asian currencies rose on Tuesday, with the Japanese yen nearing a 2024 high as the dollar retreated amid growing bets that the Federal Reserve will cut interest rates by a wide margin this week. Regional trading volumes were subdued due to holidays in markets in China and South Korea. Anticipation…

  • Hedge funds switch to buying banks, insurance and trading firms, says Goldman Sachs By Reuters

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    Investor Empires

    By Neil Mackenzie LONDON (Reuters) – Banking, insurance and trading stocks are back in the red as hedge funds last week bought shares in these companies at the fastest pace since June 2023, a note from Goldman Sachs showed. Financial stocks were the most in demand on Goldman Sachs’ main…

  • 72% of UK firms face skills gaps, turn to AI and upskilling amid £275m productivity loss

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    Investor Empires

    The UK skills gap continues to widen, with 72% of businesses reporting shortages in critical areas such as AI, data analytics and cybersecurity – up from 69% in 2023, according to DocuSign’s 2024 Digital Maturity Report. As a result, companies are increasingly turning to “quiet hiring,” upskilling their existing employees…

  • Asia FX firms with yen near 8-mth high; dollar down on rate cut bets By Investing.com

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    Investor Empires

    Asian currencies rose on Friday, while the dollar fell as markets bet the Federal Reserve will begin an easing cycle starting next week, with the focus squarely on the scope of a potential interest rate cut. The Japanese yen was the best performer among its Asian counterparts, approaching its strongest…

  • Asia FX firms, yen at 8-mth peak as dollar retreats after presidential debate By Investing.com

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    Investor Empires

    Most Asian currencies rose on Wednesday as the dollar weakened in the wake of a heated U.S. presidential debate, with focus shifting to key inflation data due later in the day. The Japanese yen was among the biggest beneficiaries of the trade, with safe-haven demand after the discussion sending the…

  • Turkish firms face wave of closures amid economic reckoning By Reuters

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    Investor Empires

    Written by Seda Caglayan and Ezgi Erkoyun COROM, Turkey (Reuters) – It is hard for Dogan Duman to see how he can keep his clothing factory in central Turkey open much longer, even after firing a third of his staff to cut costs that have soared for companies across the…

  • Forexlive Americas FX news wrap: US dollar weakens after softer ADP but ISM services firms

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    Investor Empires

    High Risk Warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage also creates additional risks and exposure to loss. Before deciding to trade foreign exchange, carefully consider your investment objectives, level of experience, and risk tolerance. You may lose some…

  • Forexlive Americas FX news wrap: US dollar weakens after softer ADP but ISM services firms

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    Investor Empires

    High Risk Warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage also creates additional risks and exposure to loss. Before deciding to trade foreign exchange, carefully consider your investment objectives, level of experience, and risk tolerance. You may lose some…

  • Azerbaijan tax breaks tempt Israeli tech firms to relocate

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    Investor Empires

    Among the incentives offered to Israeli startups that choose to move to Azerbaijan are full exemptions from corporate tax, purchase tax, property tax and profits tax for ten years, as exclusively revealed by Globes. The decision by a Shiite Muslim-majority country to take such a step during the current war,…

  • Ruto hands mega road deal to China, drops French firms

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    Investor Empires

    President William Ruto has abandoned the French and is now courting China for the Nairobi-Malaba highway dualisation project that his predecessor Uhuru Kenyatta offered to a French consortium. Dr Ruto, who is in Beijing to attend the African leaders summit, said his host Xi Jinping had given the green light…

  • Asia FX muted before PCE test; yen firms on strong CPI, while yuan hits 2024 peak By Investing.com

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    Investor Empires

    Most Asian currencies remained in a tight range on Friday as the dollar held onto recent gains in anticipation of key inflation data that is likely to influence interest rate expectations. The Japanese yen strengthened, approaching levels seen at the start of the month, as strong inflation data from Tokyo…

  • Women-owned firms dominate Jumia listings in Kenya

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    Investor Empires

    More than half of businesses registered on e-commerce platform Jumia in Kenya are owned by female entrepreneurs, a new report has found, highlighting the pivotal role e-commerce plays in boosting their participation in business. The latest report on the digital economy published by the United Nations Conference on Trade and…

  • HMRC probes nearly 800 major UK firms over suspected tax underpayments with UK banks suspected of underpaying £7.9bn

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    Investor Empires

    HMRC is actively investigating 791 of the UK’s largest companies for suspected tax evasion, a figure that represents nearly 40% of the country’s largest businesses. These investigations span vital sectors such as banking, telecoms, pharmaceuticals, retail and oil and gas, underscoring HMRC’s increasing focus on ensuring tax compliance among major…

  • HMRC probes nearly 800 major UK firms over suspected tax underpayments with UK banks suspected of underpaying £7.9bn

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    Investor Empires

    HMRC is actively investigating 791 of the UK’s largest companies for suspected tax evasion, a figure that represents nearly 40% of the country’s largest businesses. These investigations span vital sectors such as banking, telecoms, pharmaceuticals, retail and oil and gas, underscoring HMRC’s increasing focus on ensuring tax compliance among major…

  • Motorists overpay Sh16bn in fuel deal with Gulf firms

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    Investor Empires

    Motorists have been overcharged by an estimated Sh16.4 billion or Sh2.70 per litre of fuel since Kenya opted for government-to-government oil supply contracts with three Gulf-based companies, boosting the profits of three local companies at the expense of consumers. Kenya entered into the deal with Saudi Aramco, Abu Dhabi National…