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Billionaires have never had it so good

Fortunes are created by technology and globalisation, as well as talent and enterprise




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Goodbye to all that creative destruction

In 16 years of columns on business, the only constant has been disruptive innovation




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Muddy Waters/Luckin: got his mojo workin’

The after-effects of triumphant bets on Chinese companies should spur more gains for sceptics




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China’s US stock market flops raise governance concerns  

Companies suffer steep share-price falls while Luckin implosion highlights risks




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How Big Tech got even bigger in the Covid-19 era

Lockdowns have elevated the sector that some analysts thought would fall furthest in a recession




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Barrick Gold buys 800,000 antibody test kits

Chief executive Mark Bristow says miner has taken lessons on tackling coronavirus from experience of Ebola outbreak




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Frequent flyer: goodbye gold card, so long silver

Grounded travellers are facing downgrades but some airlines are rewarding loyalty




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Endeavour bids £1.5bn for Centamin in gold dealmaking wave

Canadian group makes all-stock proposal public after talks fail to get off ground




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Angola’s state diamond group seeks global partners to become a top 3 producer

Endiama chief wants ‘radical change’ in overhaul of country’s scandal-hit gem industry




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AngloGold sells world’s deepest gold mine in South Africa exit

Move could pave way for company to shift primary listing to London




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UAE groups implicated in suspected violation of Libyan arms embargo 

Two Gulf companies shipped jet fuel to renegade general Khalifa Haftar, documents show




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SoftBank: money gobbler

The Japanese tech investment group is looking increasingly challenged




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Government eyes flexible furlough extension to get UK back to work

Sharma signals tapering of scheme as Johnson prepares to announce road map out of lockdown




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Governments should backstop trade credit

As corporate insolvencies soar and firms try to hang on to their cash as long as possible, expect to hear a lot more about trade credit insurance.




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Public sector unions take government to court over pension reform

Judicial review sought over alleged breach of 2015 law, claiming cost benefits should go to scheme members




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Recession pushes Hong Kong shoppers to sell their luxury goods

Consumers seeking quick cash unload designer bags, jewellery and luxury watches




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The pandemic is yet to dampen demand for luxury goods resales

If anything, it’s only made the most coveted more sought after, as online sellers adapt to cater for their clientele.




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Louis Bacon’s Moore Capital gains after going it alone

Billionaire investor hits winning bets in global macro after closing to external money




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Global stocks, oil and government bonds tumble 

Dow wipes out gains of the Trump presidency amid fears antivirus measures are inadequate




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Building sites start to close despite government advice

Move comes amid escalating political row with London’s mayor over coronavirus risks




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A dangerous US-China blame game will do no good

An inquiry into the origins of Covid-19 is needed if important lessons are to be learnt




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Zalando: wear to go

Online retailer’s partnerships with fashion brands should support growth and lift margins




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Total keeps dividend and sets climate goal despite profit plunge

French energy group makes emissions pledge as first-quarter profits drop 35%




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Investors make big bets on silver closing giant gap with gold

For some analysts the industrial metal looks cheap, even given the Covid-19 slowdown




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Gold: a hedge against future policy misfires

A new exchange traded commodity holds several advantages




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Government delays overhaul of business rates

Move means hard-hit industries face another year of high bills




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Where the fund manager consolidation narrative goes wrong

Optimism, not pessimism, could spark future takeover offers for UK investment houses




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The market may reward companies that kept things going

Political goodwill for Spire Healthcare could act as a tailwind once virus impact eases




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US extends Venezuelan oil refiner Citgo’s lifeline

Treasury also licenses Chevron to operate in crisis-hit nation for a further 3 months




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Zeitgold raises $29.2M to automate bookkeeping

Zeitgold has raised a Series B round of $29.2 million (€27 million). Overall, the company has raised more than $54 million (€50 million). The company is building a software platform for small companies to automate bookkeeping as much as possible. Vintage Investment Partners is leading today’s round with existing investors Battery Ventures, HV Holtzbrinck Ventures, […]




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Investors should ask who will buy all the new US government debt

The last time America sold war bonds they were essentially a tax on savers




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Is it safe to go to the shops, see a friend or get on a plane?

Gillian Tett on how to assess risk in the age of coronavirus




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Instagram ‘pods’ game the algorithm by coordinating likes and comments on millions of posts

Researchers at NYU have identified hundreds of groups of Instagram users, some with thousands of members, that systematically exchange likes and comments in order to game the service’s algorithms and boost visibility. In the process, they also trained machine learning agents to identify whether a post has been juiced in this way. “Pods,” as they’ve […]




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Facebook now allows users in the US & Canada to export photos and videos to Google Photos

Facebook is today rolling out a tool that will allow users in the U.S. and Canada to export their Facebook photos and videos to Google Photos. This data portability tool was first introduced in Ireland in December, and has since been made available to other international markets. To use the feature, Facebook users will need […]




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Facebook users are buying and selling pangolin parts, even though it’s illegal

In spite of their protected status under international laws, pangolins remain one of the most trafficked animals in the world — and at least some of that trade is taking place right out in the open on Facebook . A new report from tech watchdog group the Tech Transparency Project details how Facebook users are […]




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Facebook’s redesign goes live with simplified navigation and dark mode

After months of testing, Facebook’s redesign is finally official. Announced last year at F8, the more minimalist approach to its desktop design has been rolled out in waves. In March, the company added an option to try out the new version. Users could switch back and leave feedback for why they had done so. This […]




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Britain and EU are negotiating at cross purposes

Once the UK accepted trade friction, everything changed




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Go-it-alone ‘coronabonds’ are worth the risk

Nine countries can make a stand for sharing the fiscal burden of the pandemic




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Pinn’s illustration of the week: Going digital

Earth day struggles for global attention




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Google said to be preparing its own chips for use in Pixel phones and Chromebooks

Google is reportedly on the verge of stepping up their hardware game in a way that follows the example set by Apple, with custom-designed silicon powering future smartphones. Axios reports that Google is readying its own in-house processors for use in future Pixel devices, including both phones and eventually Chromebooks, too. Google’s efforts around its […]




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Paige adds $5M from Goldman Sachs to double down on AI-based cancer therapies

Paige, the Sloan-Kettering spinout that has been building an artificial intelligence platform to improve cancer pathology and subsequently use those insights to develop better drug therapies, has raised an additional $5 million in funding to continue its work commercialising its platform and expanding its research reach, while also getting FDA clearance to launch in hospitals […]




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Amazon Q1 beats on net sales of $75.5B but posts net income of $2.5B, down $1B on a year ago

Amazon has been one of the biggest names synonymous with how the consumer masses are experiencing life under lockdown: its site lets you buy anything from soup to nuts, from books to baking pans for all your sourdough; and via its streaming services, it gives you many ways to stay entertained. But it can also […]




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Microsoft’s Surface Go 2 and Surface Book 3 are official

The days of the big product event are on hold for the foreseeable future. Until then, a big blog post will have to do. A day after announcing that Microsoft would be shifting focus away from dual-screen devices, Chief Product Officer Panos Panay took to the company’s Devices blog to show off a slew of […]




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Microsoft and AWS exchange poisoned pen blog posts in latest Pentagon JEDI contract spat

Microsoft and Amazon are at it again as the fight for the Defense Department JEDI contract continues. In a recent series of increasingly acerbic pronouncements, the two companies continue their ongoing spat over the $10 billion, decade-long JEDI contract spoils. As you may recall (or not), last fall in a surprise move, the DoD selected […]




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Microsoft Surface Go 2 review

The original Go was a mostly well-received addition to the Surface line when it arrived in late 2018. It was a nice, pint-sized alternatively, positioned fairly well to serve as a secondary device for some. It did the convertible double duty and traveled well, but otherwise was lacking in guts and versatility. Launching at the […]




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Facebook now allows users in the US & Canada to export photos and videos to Google Photos

Facebook is today rolling out a tool that will allow users in the U.S. and Canada to export their Facebook photos and videos to Google Photos. This data portability tool was first introduced in Ireland in December, and has since been made available to other international markets. To use the feature, Facebook users will need […]




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Google launches ‘Read Along,’ a free app that helps young children practice reading

Google today is launching a new app, Read Along, that aims to help elementary school students practice their reading skills and stay educationally engaged amid school closures due to coronavirus. The new Android app is based on Google’s existing application, Bolo, which launched in India last year with a catalog of read-along stories in both […]




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Updates: Gold and cocoa

If gold retreats to $1,580, the price chart suggests a major buying opportunity




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Can I cut our mortgage costs by negotiating a lower rate? 

Our household income has been hit hard by the coronavirus pandemic




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Apple and Google release sample code, UI and detailed policies for COVID-19 exposure-notification apps

Apple and Google are providing additional resources for developers working with the first version of their Exposure Notification API, the development tools the companies have created and are working on in order to provide a cross-platform way for public health agencies to notify individuals of a potential exposure to a person with a confirmed case […]