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African countries are building a giant free-trade area

“AFRICA must unite,” wrote Kwame Nkrumah, Ghana’s first president, in 1963, lamenting that African countries offered uncooked fabrics to their former colonisers relatively than buying and selling amongst themselves. His pan-African dream by no means turned into fact. Even these days, African countries nonetheless industry two times as a lot ...

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Europe is seeing more collective lawsuits from shareholders

LIKE the ghosts that haunted Ebenezer Scrooge, the scandals of years previous—summoned up by way of offended shareholders—won’t let firms relaxation. In Britain this 12 months, the Royal Bank of Scotland (RBS) paid £900m ($1.2bn) to settle a long-running investor lawsuit associated with the financial institution’s behaviour on the time ...

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Video games could fall foul of anti-gambling laws

Four-sided bandit A DECADE in the past the theory of paying actual cash for digital pieces was once odd and unique. These days many video-game publishers construct their industry fashions round it. Some of the arena’s largest games, akin to “League of Legends”, value not anything to shop for. Instead ...

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Hedge funds embrace machine learning—up to a point

ARTIFICIAL intelligence (AI) has already modified some actions, together with portions of finance like fraud prevention, however no longer but fund control and stock-picking. That turns out unusual: machine studying, a subset of AI that excels at discovering patterns and making predictions the use of reams of knowledge, looks as ...

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The beast of Bentonville battles Amazon, the king of the e-commerce jungle

A BOA constrictor swallowing capitalism. A cyclone dragging the economic system into its vortex. If you glance again at how other folks described Walmart a decade in the past, it’s eerily very similar to how Amazon is seen now. The grocery store chain has “a scale of economic power we ...

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A full-scale Venezuelan default could push up oil prices

Who believes in Nicolás? ON NOVEMBER 30th, as oil tsars from the Organisation of the Petroleum Exporting Countries (OPEC) and Russia met in Vienna, Venezuela’s former oil minister, Eulogio del Pino, as soon as one among their quantity, used to be seized by means of armed guards at crack of ...

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Western companies are getting creative with their Chinese names

MCDONALD’S drew ridicule in China when it modified its registered identify there to Jingongmen, or “Golden Arches”, in October, after it used to be offered to a Chinese consortium. Some on Weibo, a microblogging web site, idea it sounded outdated and awkward, others that it had connotations of furnishings. The ...

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The rise and fall of Al Franken

AFTER a number of girls alleged that that he had groped them, Senator Al Franken’s political long run depended at the fortify of his colleagues, particularly girls. Most stood via him for a pair of weeks after the primary accusations in opposition to the 66-year-old Democratic senator from Minnesota surfaced. ...

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Rio Tinto puts its faith in driverless vehicles, trains and drilling rigs

Data-mine ore FOR millennia, guy has damaged rocks. Whether with pickaxe or dynamite, their very own or animal muscle, in a digger or a diesel truck, thick-necked miners had been on the centre of an trade that provides the uncooked fabrics for the majority business job. Making mining extra winning ...

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The markets believe in Goldilocks

ANOTHER week, every other document. The repeated surge of percentage costs on Wall Street is getting monotonous. The Dow Jones Industrial Average has handed every other milestone—24,000—and the extra statistically powerful S&P 500 index is up via 17% up to now this 12 months. Emerging markets have carried out even ...

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