Category Archives: Business

23Feb/15

How many times can HSBC say sorry?

(BVO) – Can it get any worse for HSBC? On this evidence probably not.

Europe’s biggest bank reporting a 17 percent drop in annual profit as a tax evasion scandal at its private banking business in Switzerland continues to deepen.
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23Feb/15

Property tax fears fuel UK rental rise

(Reuters Business Report) – A smart family home in the heart of London.

It would cost several million pounds to buy.

But this one’s not for sale.

It’s one of a select number of multi-million pound homes up for rent.
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23Feb/15

Struggling Zimbabweans place their bets on chance

With the Zimbabwe economy in a continued spiral and the unemployment rate at above 80 percent a new craze of making money has emerged with betting and punting taking centre stage. Hundreds if not thousands of mostly males of various age groups are now taking to betting on sports especially football and horse racing in the fight to make a living.
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16Feb/15

Lance Armstrong Loses $10 Million Lawsuit

Lance Armstrong ordered to pay $10M over “unparalleled pageant of international perjury, fraud & conspiracy”
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16Feb/15

LG Electronics takes fight with Samsung over washer damage to YouTube

Footage from surveillance cameras show South Korea’s LG Electronics executive Jo Seong-jin , who has been indicted on a charge of damaging washing machines of Samsung Electronics, touring a Samsung exhibit at a shop in Berlin.
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16Feb/15

Kenyan broadcasters off air in digital migration stand-off with government

Kenyan television broadcasters go on nationwide black out to protest the mandatory move to digital transmission from analogue, saying the process of issuing broadcast signal broadcast licences was flawed and unfair, and that they want to broadcast digital signals on their own platforms.
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14Feb/15

Small businesses in Equatorial Guinea count their profits after AFCON

Juan Obama won the African Cup of Nations in Equatorial Guinea this month, not as a player for the champions Ivory Coast, but as a Taxi driver. Juan had his busiest and most profitable month ever.
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13Feb/15

Africa’s largest economies feel the heat

(BVO) – South Africa’s parliament descends into chaos.

Protesters stormed the building, demanding President Jacob Zuma pay back some of the taxpayers’ funds used for a $23 million upgrade of his rural home.

It’s been a turbulent time for the economy, too.
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10Feb/15

Somalian lifeline cut off by suspension of remittance services

Somalia-Remittances

China Central Television (CCTV)

Most of the major U.S. banks have ended remittance services to Somalis after new regulations were passed to stop money from getting into the hands of terrorists such as Somalia’s Al Shabaab. However, funds sent back home to Somalia are crucial for many families and businesses in a country that lacks a proper financial system from years of fighting.
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