Business and Economy

Global gender gap, Biden’s big bet and a ship’s worth of memes

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We gather the numbers to know from the week’s biggest economic news stories so you can impress your friends.

Pakistan defers India trade restarting decision over Kashmir

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'Consensus' move came after top economic decision-making body gave go-ahead for imports of cotton and sugar from India.

Battle begins in US Congress over taxes, infrastructure spending

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President Biden is advancing a $2 trillion infrastructure bill as Republicans balk at the cost and proposed tax hikes

Pakistan allows sugar, cotton imports from India as ties improve

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Pakistan says it will allow some imports to ease price pressure, latest indication of thaw in relations with India.

Archegos Capital fallout may wipe $6bn from global banks: Report

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Losses at Archegos Capital led to fire sale of stocks after it failed to meet a calls for more collateral.

New chapter: News Corp to buy Houghton Mifflin unit for $349M

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Houghton Mifflin said the deal allows it to focus on its K-12 education business as schools begin to reopen in the...

Fed-up employees, NFT land grab, and Prince Harry’s unicorn

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We gather numbers to know from the week’s biggest economic news stories so you can impress yourself and your friends.

US, UK slap sanctions on firms controlled by Myanmar’s military

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Thursday's sanctions were the most significant yet against the wide-ranging business interests of Myanmar's military.

Get in boats & go: Powell likens Fed’s COVID response to Dunkirk

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'It was time to get in the boats and protect the people, not check the inspection records,' the Fed's Chairman said.

Pandemic cash hoard: Here’s how Canadians are spending theirs

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Demand is surging for back-yard pools, domestic summer travel deals and bucket-list trips.

UAE to invest $10bn in Indonesia’s new sovereign wealth fund

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The funds will be used for infrastructure, tourism, agriculture and other 'strategic sectors', UAE's state news said.

Twitter boss Jack Dorsey’s first tweet sells for $2.9m

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The tweet was sold as a non-fungible token, unique digital assets that are growing rapidly in popularity.

US economy healing but not fully recovered: Federal Reserve chief

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Jerome Powell says 'elevated' unemployment rate of 6.2% 'underestimates the shortfall', underscoring stimulus policies.

Are you exhausted? Want to quit your job? You’re so not alone

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Some 40 percent of global workforce members are thinking about leaving their jobs, a Microsoft workforce survey found.

Spy-kea? Ikea France goes on trial over claims it spied on staff

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Trade unions reported Ikea to French authorities back in 2012, accusing it of collecting data by fraudulent means.

Deforestation: The $53bn threat to agri-businesses

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Deforestation and extreme weather are two of the risks that could lead to losses for firms, a survey of 500 firms...

US House antitrust panel plans new rules to curb big tech: Report

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Strategy aims to produce several small bills to thwart technology firms fighting one large piece of legislation: Source.

Slump in gold prices draws shoppers across Asia

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Retailers are snapping up more gold to cater to buyers who had been holding off their purchases for the past year.

Turkish lira plunges after Erdogan sacks central bank chief

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Sacked governor Agbal had raised interest rates to rein in inflation; analysts fear new chief may reverse rate hikes.

Saudi oil giant Aramco’s profits plunge nearly 45% amid pandemic

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COVID-19 took heavy toll on Aramco but firm still made profit of $49bn and will pay shareholders dividends worth $75bn.

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