Business

About a decade ago, the world’s largest economies agreed to take action against the abuse of tax havens by multinational corporations. This resulted in a 15-point action plan aimed at curbing practices that shielded a large chunk of corporate profits from tax authorities. But according to our estimates, it didn’t work. Instead of restricting the use of tax havens –…

Perhaps no one embodied Elon Musk’s “extreme hardcore” Twitter 2.0 better than Esther Crawford, his head of product management, who rose to internet fame for sleeping on the office floor. Now Crawford, who has survived multiple staff selections on the social media platform, has herself been fired. Instead of bitterness, however, she defended her decision to forego family time in…

It’s been over four years since my father died and I was forced to google “how to plan a funeral”. Unlike every other purchase I can remember, there was no information online. How much can a funeral cost? Which traditions are important? What options do I have? I couldn’t research decisions before entering a funeral home, where instead I had…

Finnish 5G device maker Nokia Oyj has redesigned its logo to prevent people from associating it with mobile phones – a company it left almost a decade ago. The brand makeover announced on Sunday comes with a number of new strategic pillars designed to enable faster growth as the world increasingly adopts fifth-generation mobile technologies. “We’re still a successful mobile…

After spurring a years-long exodus of foreign investors from Chinese markets, President Xi Jinping appeared to have cracked the formula to revitalize its economy and lure back global funds. China’s very public departure from Covid Zero late last year was accompanied by a speech by Xi in which he reassured senior officials on the importance of attracting and holding foreign…

The R-rated gonzo horror comedy Cocaine Bear sniffed at $23.1 million in its opening weekend, according to the studio’s Sunday estimate, while Marvel’s Ant-Man and the Wasp: Quantumania shrank at an unusually fast pace in its second weekend. Quantumania was still #1 with an estimated $32.2 million in box office sales in US and Canadian theaters. But the Ant-Man sequel,…

Twitter carried out an unexpected round of layoffs this weekend as the company grapples with falling revenue and aggressive cost-cutting under CEO Elon Musk. The information first reported on the layoffs, saying the company laid off at least 50 employees in various departments on Saturday, including engineers who help keep the social network running. The firings also included “hardcore musky…

Since the boom of NFTs in 2021, OpenSea has been the leading marketplace for developers and traders. Now, a new rival, Blur.io, is challenging the company’s dominance, and in the process has caused excitement during an ongoing bear market for crypto and NFTs. But can the excitement last? After raising $11 million in a seed round led by venture capital…

Stock market believers are looking past their toughest spell in months for US stocks, clinging to bets of a rally in the second half of the year once the Federal Reserve ends rate hikes. The S&P 500 Index has had its worst week since December 9 as hotter-than-expected inflation data fueled speculation that the Fed will hike borrowing costs several…

When the COVID-19 pandemic closed Connecticut’s Foxwoods Resort Casino for three months in 2020, its owners, the Mashantucket Pequot Tribal Nation, had to reckon with decades of having relied heavily on gambling as the tribe’s primary source of income. “The fact that casino revenue went from millions to zero overnight has once again highlighted the need for multiple revenue streams,”…