Companies benefit from a flexible wage system

A group of researchers have analyzed the effects that decentralized wage negotiations have on companies in the private sector. There’s been a growing trend of employees being subject to…

Newsweek bought out by IBT Media

Newsweek has been bought out by IBT Media from IAC/InterActiveCorp (IACI). IBT believes that it is capable of making the brand very profitable. IBT Media did not disclose the terms of the deal. IBT…

Bank of England will keep bank rate at 0.5%

The Bank of England’s Monetary Policy Committee voted yesterday to keep the bank rate at 0.5% and the size of the Asset Purchase Programme at £375 billion ($571 billion, €431 billion). The bank rate…

House prices rose sharply in May, USA

House prices rose more steeply in May than in any month since March 2006, according to S&P/Case-Shiller Home Price Indices, released by S&P Dow Jones Indices today. Data showed that US…

Chinese local government debt audit ordered

The Chinese government has ordered an urgent audit of all debts in its local governments. There is concern that the country’s economic slowdown may affect its financial sector badly. An audit is a…

Expedia performs poorly in second quarter sales

Expedia Inc - the largest online travel company in the world - has failed to reach its second quarter sales and profit estimates. The company seems to be finding it hard to retain its top position…

Omnicom & Publicis agree merger

Omnicom Group Inc. and Publicis Groupe SA have merged to create the largest advertising company worldwide - Publicis Omnicom Group - worth $35.1 billion (€26.5 billion), the two companies have…

EU and China reach solar panel deal

China and the European union have reached an agreement on solar panels after weeks of speculation that retaliatory action on both sides could exacerbate Europe’s economic woes further, and push…