Market Business News publishes news related to business and technology. Our articles contain hyperlinked references to all sources of data, ensuring that what you read is credible and trustworthy.
The website also has one of the most comprehensive financial glossaries online, a useful resource for those who want to learn more about the definitions and meanings of thousands of terms.
Market Business News articles that stood out in 2017:
April 25, 2017: Flying vehicles coming soon, says Uber
Uber Technologies Inc., a San Francisco-based transportation network company that operates in over 570 cities across the world, says that it plans to demonstrate its flying vehicles by the end of this decade in the Dallas-Fort Worth Area in the USA, and Dubai in the United Arab Emirates.
If all goes according to plan, Uber expects to have a fleet of flying taxis in operation by 2023.
April 19, 2017: Theresa May announces snap general election, pound surges
British Prime Minister Theresa may announced a snap general election for 8th June, 2017. The news appears to have helped push up the pound sterling significantly. The pound appreciated 2.2% against the US dollar to $1.2846, its highest level since early October 2016. It also rose against the euro by 1.4% to €1.1968.
Ms. May said: “The only way to guarantee certainty and security for years ahead is to hold this election.”
11 April, 2017: Tesla becomes America’s most valuable automaker
Last week, Tesla overtook Ford, and this week General Motors, making it today America’s most valuable automaker. Despite making a $773 million loss last year, the California-based automaker, energy storage company, and solar panel manufacturer has investors optimistic about its future potential, especially as it nears the launch of its mass-market, all-electric Model 3 sedan.
This week, Tesla’s stock increased again, closing at $312.39 per share on Monday, pushing the company’s market value to $50.887 billion, which is $1 million more than General Motors’.
April 4, 2017: Graphene membrane turns seawater into drinking water, say scientists
Scientists at the University of Manchester in England say they have developed a scalable graphene membrane that can turn seawater into drinking water by removing the salt. This amazing breakthrough could help millions of people across the globe who do not have access to clean drinking water.
Graphene, which is one million times thinner than a single strand of human hair, is an ultra-thin material comprising a single layer of carbon atoms arranged in a six-sided honeycomb pattern. Graphene is 300 times stronger than steel and harder than a diamond – but it is incredibly flexible.
March 30, 2017: Samsung launched new S8 and S8+ smartphones
Samsung, the Seoul-based multinational conglomerate, has unveiled its flagship S8 and S8+ smartphones. This is the company’s most important launch since the release of the Note 7, which was a disaster. The Galaxy S8 is available with a 5.8-inch screen, while the slightly larger S8+ has a 6.2-inch screen.
The BBC quoted Ben Wood from the CCS tech consultancy, who said: “The Galaxy S8 is arguably the most important launch of the last 10 years for Samsung and every aspect will be under the microscope following the Note 7 recall.”
Mar 16, 2017: Artificial Intelligence now closely linked to business competitiveness
The use of artificial intelligence, commonly referred to as AI, is today a major factor in business competitiveness, spreading to every corner of major companies across the globe, says a new study carried out by Tata Consultancy Services.
The study, which polled 835 senior managers in thirteen global industry sectors, found that 84% of respondents believed that the use of AI was vital for competitiveness. Half of all respondents described technology as ‘transformative‘.
Mar 5, 2017: Google developing Pixel 2, a new smartphone for 2017
Google, the California-based multinational technology giant, specializing in Internet-related services and products, confirmed that it is developing a new Pixel smartphone for 2017. One of the Pixel’s major drawbacks, according to consumers, is its price. A Pixel smartphone today starts at $650, while the bigger Pixel XL starts at $769.
The new Pixel – Pixel 2 – will probably be within the price tags of the next-gen iPhone and upcoming Samsung S8.
Feb 20, 2017: Amazon creating 5,000+ jobs in UK in 2017
Amazon.com, the Seattle-based electronic commerce and cloud computing giant, says it plans to create at least five thousand new jobs in the United Kingdom in 2017, boosting its total workforce in the country to 24,000 by the end of this year. The new posts will be split across its new London headquarters – which is opening later in 2017 – three fulfillment centres in Daventry, Doncaster and Tilbury, and development centres across the country.
Feb 10, 2017: Tim Cook Apple’s CEO, ‘very optimistic’ regarding UK post-Brexit
Tim Cook, the CEO of Apple Inc., the California-based multinational technology giant, said in a recent meeting with British Prime Minister Theresa May that the UK would be ‘just fine’ outside the European Union. Mr. Cook said he was ‘very optimistic’ about Britain’s future after leaving the economic bloc. His comments follow Apple’s announcement in 2016 to build a new UK HQ in London.
Feb 2, 2017: Electric cars may reduce oil consumption by 2m barrels per day by 2025
Global progress in the low-carbon transition is being seriously underestimated by the world’s major oil companies, according to a new report from the Carbon Tracker Initiative think tank and the Grantham Institute at Imperial College London.
If oil & gas multinationals continue to assume demand for oil will expand unabated, they will most probably end up with too much fossil fuel assets on their hands.
Jan 28, 2017: Driverless bus showcased at London’s Heathrow airport
Heathrow, London’s largest airport, showcased a driverless bus made by French electronic autonomous systems specialist firm Navya. It was the first time that Navya’s ARMA – a fully autonomous electric shuttle bus – was demonstrated in the United Kingdom.
Jan 15, 2017: SpaceX successfully launched Falcon 9, an unmanned rocked, into orbit
SpaceX, formarly known as the Space Exploration technologies Corporation, the Californian-based aerospace manufacturer and space transport services company, launched an unmanned rocket – Falcon 9 – successfully into orbit from Vandenberg Air Force Base in California.
The launch marked an important milestone for the company, and returned it to flight for the first time since the launch-pad explosion in September 2016.
Jan 7, 2017: British Prime Minister Theresa May to meet new US President Donald Trump this spring
The United Kingdom’s Prime Minister Theresa May will visit America’s new President Donald Trump this spring, not long after his inauguration, Downing Street has informed. At the top of May’s agenda will be preliminary talks about a new UK-US trade deal after Britain completes its separation from the European Union.
Jan 3, 2017: Tesla narrowly missed 2016 target and delivered 76,230 vehicles
Tesla, the California-based automaker, energy storage company, and solar panel manufacturer, missed its 80,000 target for 2016, and delivered 76,230 vehicles. In Q4 of 2016, a total of 22,200 vehicles were delivered – 12,700 were Model S, while 9,500 were Model X.
Terms of the Day
Every day, Market Business News adds two or three new terms to its Financial Glossary. The latest additions are:
Trust – total faith; a firm belief in another person’s or something’s ability, reliability and trustworthiness. It is probably the most important ingredient for a successful economy and thriving business.
Without trust, our world today would be a much more backward and poorer place. We invest in other people’s business ventures, become partners with individuals, and work for others believing that at the end of the month they will pay us, because we trust them.
A trust might be an arrangement in which one party – a trustor – gives control of his or her wealth, property, or estate to a trustee, for the benefit of another person – the beneficiary.
Trough – (Pronounced: TROFF) is the opposite of peak. In economics, it is the point in the business cycle where the recession ends and the recovery begins. On a line graph, when there is a ‘V’ shape, the trough is where the two lines meet – at the bottom.
In non-business English, trough may mean a channel that water flows through; a long, narrow, open container that working animals and farm animals drink or eat from; a long hollow on the Earth’s surface; the lowest part of two waves in a lake or the sea; or a narrow, long, open container used for growing plants; in medicine, the lowest concentration of a drug or substance in a human’s bloodstream.
Treasury Bills – also called T-bills, are short-term maturity promissory notes that federal or national governments issue, usually through their central banks. The time to maturity may range from a few days to one year.
They are mainly issued to regulate the money supply or raise funds via open-market operations.
US treasury bills have no explicit interest rates. They are bought for a cheaper price than their redemption value.
Investors in the financial markets monitor treasury bill yields closely, because they affect corporate and municipal bond yields, as well as bank interest rates.
Transparency – in the world of governments and public officials, transparency refers to how much data a country’s government readily shares with its citizens. Government transparency is defined as accountability, openness and honesty.
In the world of finance, business and markets, transparency is about the extent to which stockholders, investors, and other stakeholders have ready access to a business’ or market’s information, such as audited financial reports, planned actions, market depth, and what senior managers are up to.
Transition Economy – an economy that used to be state controlled, and is now changing into either a free-market or mixed-economy. During the late 1980s and early 1990s, the communist regimes of the Soviet Union and Eastern Europe collapsed.
Russia and its Eastern European neighbors became democracies and introduced reforms to free up their markets – they decided to change from having centrally-planned economies to becoming free-market ones.
Examples include Russia, Poland, Romania, Hungary, the Czech Republic, Ukraine, Albania and several others.
China, Vietnam, Laos and Cambodia are also transition economies. China’s GDP growth over the past twenty-five years has been spectacular, while Russia’s, on the other hand, has been patchy.
Transaction Costs – the costs incurred by traders – buyers and sellers of products – apart from the price of whatever is changing hands.
Transaction costs may include a lawyer’s fee, underwriter’s fee, administration charges, broker’s fee, or other financial intermediary charges.
When you trying to decide whether your firm should produce or purchase something, transaction costs are a critical factor.
Trade Area – the commercial territory of a company; where the bulk of its sales occur. If I have a shoe-shop, and 95% of my sales are made to customers who live within a 10-mile radius, that 10-mile radius is my trade area or trading area. Some company’s trade area or market area may reach beyond their borders.
Trade area is determined by the product and where competing suppliers are located. The trade area for gasoline to fill our cars is much smaller than for expensive furniture. I am willing to travel considerably further when looking for nice furniture for my dining room than when I want to fill my car with gas (UK: petrol).
Total Return – the actual rate of return realized over a specific period. It includes dividends or income that the asset generates, plus capital gains – the rise in value of the asset. It is the complete amount we receive on an investment, expressed either as a dollar/pound/currency figure or a percentage.
The rate of return is calculated by adding dividends or coupons to capital gains. Total return contrasts with price return, which only considers an asset’s capital gain.
Did you know?
Center vs. Centre
Many words in American English that end in -er end in -re in British English.
American ‘-er’ – British ‘-re’
Liter – Litre
Center – Centre
Theater – Theatre
Fiber – Fibre
Meter (centimeter, kilometer, etc.) – Metre (centimetre, kilometre, etc.)
Maneuver – Manoeuvre
Somber – Sombre
Meager – Meagre
Specter – Spectre
Note: The following words are spelled identically – with -re – in both American and British English:
Ogre – Mediocre – Massacre – Acre
Gas vs. Petrol vs. Natural Gas
In the United States and Canada (North America), the word ‘gas‘ on its own means ‘gasoline’, the fuel we put in our cars.
In the United Kingdom, the word ‘gas‘ on its own means the fuel we use in our kitchens to cook with or to heat our homes. When referring to the fuel for our cars, people in the British Isles, including Ireland, say ‘petrol‘. Australians and New Zealanders also say ‘petrol’.
When North Americans are talking about the fuel we use in our kitchens, they tend to say ‘natural gas‘ or ‘butane gas‘.
There are times North Americans use just the word ‘gas’ on its own for the cooking fuel, as in: “Can you smell gas?” or “There was a huge gas explosion downtown this morning…”
The terms ‘natural gas’ and ‘butane gas’ exist in British English, but are only used when talking about the oil & gas industry.
In American English, you fill up your car at a ‘gas station‘, which in British English is called a ‘petrol station‘. The term ‘filling station’ is used in both forms of the English language.
Check vs. Cheque
The verb ‘To Check’ is spelled the same in all English-speaking countries. In both American and British English, the following sentence has the same spelling:
“Could you check last month’s unemployment figures again before publishing the press release, please?”
When the word is a noun, the spelling may vary.
– When it means an order to a bank to pay a specific sum from the drawer’s account, written on a specially printed form, the spelling is: 1. Check in American English. 2. Cheque in British English.
An American would write: “I have lost my checkbook.”
A Briton or Irish person would write: “I have lost my chequebook.”
– When the noun means to examine or revise, the spelling is the same in all English-speaking nations. Britons, North Americans, Irish citizens, Australians and New Zealanders write the following sentence with the same spelling:
“Tomorrow my medical check-up is at 2pm.”
Licence vs. License
There are differences between American and British English business words that go beyond just their spelling – their meanings also change.
In the United States, LICENSE is the correct spelling for the noun and verb.
Noun: “That restaurant has a LICENSE to sell alcoholic beverages.”
Verb: “The company LICENSED its name to others.”
In the United Kingdom, LICENSE is a verb, and LICENCE is a noun.
British and Irish people write:
Noun: “That restaurant has a LICENCE to sell alcoholic beverages.”
Verb: “The company LICENSED its name to others.”
Flat vs. apartment
In the real estate market, there are some differences between British and American English. While Americans call an agent who sells and buys properties on behalf of clients a realtor, that person or firm is known as an estate agent in the United Kingdom and Ireland.
For a suite of rooms forming one home in a building, Americans say ‘apartment‘. Britons and Irish people say ‘flat‘.
The word ‘apartment‘ exists in the UK and Ireland – it tends to mean a posh flat. In the UK/Ireland, you are more likely to hear ‘He lives in a luxury apartment,’ than ‘He lives in a luxury flat’ (luxury flat is possible). However, as texts become increasingly read by people all over the world, the differences in meanings are becoming blurred.
According to House Network, a British realtor (British English: estate agent):
“Apartments are typically located in complexes of buildings or gated communities, sometimes with a management office nearby, and often with a dedicated community convenience shop, amongst other amenities like communal gardens and parking areas.”
“An apartment can consist of many rooms, potentially spread across a couple of floors inside a building; a flat will, as the name suggests, be all on one level of a building.”
When you are directing people in an apartment building (British: block of flats), remember that the American first floor is the British ground floor, while the British first floor is the American second floor.
In countries that use British English, street level is the ground floor, while in American English it is the first floor.
Labor vs. Labour
When a word with at least two syllables ends in ‘-our’ in British English, Americans drop the ‘u’ and spell it as ‘-or’.
When Americans write the following words, they drop the ‘u’:
Labor, Favorite, Honor, Color
In Britain, Ireland, Canada and Australasia, the letter ‘u’ is included in the spelling of those words:
Labour, Favourite, Honour, Colour
Billion vs. Trillion
In American English, one billion is one-thousand million – 1,000,000,000.
In British English, the meaning of one billion has changed over the past few decades. It used to mean one million million – 1,000,000,000,000 – but today it has the same meaning as in American English, i.e. one thousand million or 1,000,000,000.
The term ‘milliard’, which means one thousand million in both English and American English, has now largely been superseded by billion in both versions of the English language.
In American English, one trillion is a million million – 1,000,000,000,000.
In this case too, the British English meaning of trillion has changed. It used to mean a million million million – 1,000,000,000,000,000,000, but today it has the same meaning as in the United States, i.e. one million million or 1,000,000,000,000.