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Saudi Arabia, the world’s largest crude oil producer, is placing major bets on China’s expanding crude oil market, with Saudi oil giant Aramco extending its downstream presence and crude supply market share in the world’s largest importer. This week, Saudi Aramco announced two big refinery and petrochemical transactions in China, giving the world’s largest oil … Read more
In order to rescue the MTA’s deteriorating finances in the wake of the COVID-19 outbreak, Governor Kathy Hochul’s proposed 2024 budget contained a substantial payroll tax hike. In their response to the One-House Budget plan, the State Assembly included Uber fees and streaming service levies. The proposed 4 percent digital streaming sales tax would primarily … Read more
Most Asian stock markets rose on Wednesday as regulators further downplayed fears of a banking crisis, while Hong Kong’s Hang Seng index rose sharply as investors cheered a major restructuring in e-commerce giant Alibaba (NYSE: BABA) Group. The Hang Seng jumped 2.2% to an over three-week high, with Alibaba Group Holdings Ltd (HK:9988) up nearly … Read more
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A once-a-month visit to one of the company’s cafes, complete with the donning of the iconic green apron and participation in the daily operations of the business, is on the agenda for the newly appointed CEO of Starbucks. Once a month, Starbucks’ new CEO will visit cafés. Laxman Narasimhan, who officially took the helm at … Read more