FACEBOOK Inc offered reassurances to investors on Wednesday that its digital ad business would remain highly profitable, despite a dip in usage on the social media network and an overhaul of its flagship News Feed. The company said in an earnings report that quarterly revenue jumped 47 percent from a year earlier, and executives said on a conference call that they saw more chances to make money even if people spend less time on Facebook. ...
JAPAN-BASED virtual currency exchange Coincheck said yesterday it will refund about US$400 million to customers after hackers stole hundreds of millions of dollars’ worth of digital assets. The company said it will use its own funds to reimburse about 46.3 billion yen to all 260,000 customers who lost their holdings of NEM, the 10th biggest cryptocurrency by market capitalization. On Friday, the company detected an “unauthorised ...
International Monetary Fund yesterday revised up its forecast for world economic growth in 2018 and 2019 saying that sweeping US tax cuts were expected to boost investment in the world's largest economy and help its main trading partners. In an update of its World Economic Outlook, the IMF however warned that US growth would likely start weakening after 2022 as temporary spending incentives brought about by the tax cuts start to expire. ...
GERMANY’S central bank has said it will include the Chinese yuan in its reserves, giving another boost to China’s drive to internationalize the currency. The Bundesbank said its board had decided in July to invest in the yuan to take account of its growing importance globally, though it did not say when it would begin to include it or how much it would purchase. “The decision to accept the yuan is part of a long-term diversification ...
The Republican-controlled US House of Representatives gave final approval on Wednesday to the biggest overhaul of the US tax code in 30 years, sending a sweeping US$1.5 trillion tax bill to President Donald Trump for his signature. In sealing Trump’s first major legislative victory since he took office in January, Republicans steamrolled opposition from Democrats to pass a bill that slashes taxes for corporations and the wealthy while giving mixed, temporary tax relief to middle-class ...
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