US energy giant ExxonMobil is suing the European Union (EU) in a bid to stop its new windfall tax on oil firms. A windfall tax is imposed on firms that…
Category: Business News
USA: Trump’s tax returns released after years-long effort
Former President Donald Trump’s tax returns have been released, ending a bitter six-year long battle to gain greater insights into his finances. Ever since his entry into politics, critics have…
USA: ‘400 million’ Twitter user details up for sale
A watchdog is to investigate Twitter after a hacker claimed to have private details linked to more than 400 million accounts. The hacker, “Ryushi”, is demanding $200,000 (£166,000) to hand…
Nigeria: Shell to pay $16m to farmers over oil damage
Shell has agreed to pay $16m (£13m) to four Nigerian farmers and their communities to compensate for damage allegedly caused by pollution coming from leaks in its oil pipelines. The…
UK: Economy shrank more than previously thought
The UK economy shrank by more than first thought in the three months to September, revised figures show. The economy contracted by 0.3%, compared with a previous estimate of 0.2%,…
USA: Trump business losses sharply reduced his tax bill
Former president Donald Trump reported steep business losses in his final year in the White House, allowing the billionaire to avoid paying income tax. He also did not face tax…
USA: Gamers sue to stop Microsoft-Activision merger
Microsoft faces legal action from 10 gamers to block its merger with Call of Duty maker Activision Blizzard. The lawsuit filed in a US federal court says the $69bn (£56bn)…
Japan: Inflation hits a 41-year high
Japan’s core consumer price inflation edged up to 3.7% in November, the highest it has been since 1981. That was when a Middle East crisis disrupted oil production and caused…
USA: Elon Musk to quit as Twitter CEO when replacement found
Elon Musk has said he will resign as Twitter’s chief executive officer when he finds someone “foolish enough to take the job”. The billionaire promised earlier to abide by the…
USA: Twitter users vote in favour of Elon Musk resigning
Twitter users have voted in favour of Elon Musk stepping down as the platform’s chief executive after the billionaire ran a poll on his future. A total of 57.5% voted…