How a sweetheart deal gives GameStop CEO a $179 mln goodbye gift
Gamestop Corp (GME.N) chief executive George Sherman can step down this summer with a $179 million windfall that dwarfs CEO salaries at many larger corporations thanks to a sweetheart deal that was turbocharged by this year’s furious meme stock rally, compensation experts said. GameStop said on Monday that Sherman would step down by July 31. The struggling U.S. videogame […]
Prices matter when tracking economic development and recovery after the pandemic
Measuring purchasing power is an effective way to track economic recovery after the pandemic, estimate the real sizes of economies, and gauge poverty.
UK PM Johnson cancels trip to India due to coronavirus worries
British Prime Minister Boris Johnson on Monday cancelled a planned trip to India, scheduled to take place next week, due to the current coronavirus situation in India, Johnson’s office said.
China to bring solar and wind power generation to 11% of total electricity use in 2021
China has flagged it will seek to raise its power generation from solar and wind plants to around 11% of the country’s total power consumption in 2021, from 9.7% in 2020, said the National Energy Administration (NEA) in a draft rule on Monday. Chinese President Xi Jinping has announced that China will boost the share […]
WIDER IMAGE For South Korea’s youngest ‘sea women’, warming seas mean smaller catches
Clad in a black wet suit and pink face mask, Jin So-hee’s figure cleanly parts the green-blue water until she abruptly dives below the surface, her purple fins disappearing into the deep. When she resurfaces a minute and a half later, her gloved hands grip six or seven sea cucumbers, their spiked backs glistening in […]
Analysis: Beijing huddles with friends, seeks to fracture U.S.-led ‘clique’
China is shoring up ties with autocratic partners like Russia and Iran, as well as economically dependent regional countries, while using sanctions and threats to try to fracture the alliances the United States is building against it. Worryingly for Beijing, diplomats and analysts say, the Biden administration has got other democracies to toughen up to […]
Romania approves bill to bar China, Huawei from 5G networks
Romania’s centrist government on Thursday approved a United States-backed bill that effectively bars China and Huawei (HWT.UL) from taking part in development of its 5G network, a member of the IT&C and National Security Committee told Reuters. Europe has emerged as a battleground in the technology ‘Cold War’ playing out between China and Washington and […]
MIDEAST STOCKS Most major Gulf markets rise; Qatar dips
Most major stock markets in the Gulf rose in early trade on Sunday, with property shares boosting the Dubai index, although Qatar bucked the trend to trade lower. Saudi Arabia’s benchmark index (.TASI) added 0.6%, with Al Rajhi Bank (1120.SE) rising 1.4% and SABIC Agri-Nutrients Co (2020.SE) advancing 3.9%. Elsewhere, Bank Albilad (1140.SE) climbed 1%, as the lender completed a 3 billion riyal […]
Ontario enters harder lockdown, police get more powers as COVID cases soar
The Canadian province of Ontario expanded and extended a stay at home order on Friday and said police will be given new powers to stop and question people who leave home as expert advisors warned that new cases of COVID-19 will continue to soar, overwhelming hospitals.
A tale of two carmakers: GM and Toyota take different electric roads in China
Toyota (7203.T) pioneered the world’s most successful hybrid car but when it comes to pure electric vehicles it has some catching up to do, especially in China.
