Stuff that matters
WASHINGTON – New orders for U.S.-made goods increased more than expected in July as the manufacturing sector continues to steadily recover from the COVID-19 pandemic. The Commerce Department said on Thursday factory orders rose 6.4% after a similar gain in Read more
DETROIT – Ford Motor Co (F.N) said on Wednesday it is targeting the elimination of 1,400 U.S. salaried jobs by year end as part of a multiyear $11 billion restructuring. The layoffs will be achieved through voluntary buyouts, the U.S. Read more
LONDON – U.N. Special Envoy for Climate Action Mark Carney launched on Wednesday a private sector taskforce to scale up voluntary carbon credit markets, which he says are vital if countries and businesses are to meet emissions targets set under Read more
BRUSSELS – The pressure from the COVID-19 pandemic on government finances might help bring about a stalled international agreement on how to tax digital giants like Google(GOOGL.O), Amazon(AMZN.O) , Facebook(FB.O) , Apple (AAPL.O) or Microsoft(MSFT.O), German Finance Minister Olaf Sholz Read more
FRANKFURT – Commerzbank (CBKG.DE) said on Wednesday it would drop EY as its auditor from 2022 in the wake of the Wirecard accounting scandal. EY had signed off for years on the accounts of Wirecard (WDIG.DE), the German payments that Read more
MOSCOW – Streaming giant Netflix and Russia’s National Media Group (NMG) have set up a partnership to run the U.S. group’s Russian service, they said on Wednesday. Netflix’s international version has been available in Russia since 2015. NMG is a Read more
BERLIN – Germany’s antitrust watchdog is following closely a legal row over Apple’s App Store payment terms, saying on Wednesday it could in principle open a national inquiry. Apple dropped Epic Games after a dispute in which the ‘Fortnite’ creator Read more