PODCAST · business
Business in 60 Seconds
by TRT World
Business and financial news of the day from around the world in 60 seconds from TRT World.
Episodes
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April 23, 2021 Biz in 60
Turkey arrests dozens in Thodex crypto exchange fraud probe Turkish authorities are seeking a so-called 'red notice' from Interpol that would help them track down and arrest the founder of one of the country's biggest cryptocurrency exchanges, Thodex. Faruk Fatih Ozer, who's said to have fled to...
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April 22, 2021 Biz in 60
Turkey opens probe into cryptocurrency platform Thodex Turkish prosecutors have launched an investigation into Turkish cryptocurrency exchange platform, Thodex. That's after the exchange abruptly shut down while holding at least 2-billion dollars, leaving thousands of users unable to access their...
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April 21, 2021 Biz in 60
UAE becomes second biggest buyer of US Treasury securities The United Arab Emirates surpassed China to become the second-biggest buyer of US Treasury securities in February after the UK. The oil-rich Gulf nation has added nearly 17-billion dollars' worth of US debt since January, raising its...
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April 20, 2021 Biz in 60
UK's unemployment rate falls unexpectedly to 4.9% The UK's unemployment rate fell unexpectedly in the three months through February, despite the country being in a tight lockdown. The jobless rate averaged 4-point-9 percent, edging down from 5-percent in the prior quarter. The Office for National...
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April 19, 2021 Biz in 60
Consumers stockpile $5.4T of savings since pandemic began Moody's has found that up to 5-point-4 trillion dollars has been stockpiled by consumers worldwide since the coronavirus pandemic began. That's as household incomes receive support from unprecedented government stimulus schemes designed to...
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April 13, 2021 Biz in 60
Singapore's Grab to go public in $40B SPAC deal Southeast Asia's ride-hailing giant Grab has agreed to go public in the US through a merger with special purpose acquisition company, Altimeter Growth. The largest ever SPAC merger will value Singapore- based Grab at nearly 40-billion dollars. The...
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April 12, 2021 Biz in 60
Microsoft agrees to buy AI firm Nuance for about $16B Microsoft has agreed to buy artificial intelligence and speech technology firm, Nuance Communications, for about 16 billion dollars. The deal marks the US software giant's largest acquisition since it bought LinkedIn for more than 26 billion...
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April 7, 2021 Biz in 60
Private equity firm CVC makes $20B offer for Toshiba CVC Capital Partners has made a 20-billion dollar offer to buy-out Toshiba. The bid comes as the Japanese conglomerate faces scrutiny over a series of scandals. Luxembourg-based CVC is one of several private equity firms to submit a bid, and is...
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April 6, 2021 Biz in 60
Cryptocurrency market capitalisation tops $2T for first time The total value of the entire cryptocurrency market has topped $2 trillion for the first time, following a recent rally in prices of bitcoin and some other tokens. Bitcoin has surged by more than 100 percent this year with a growing...
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April 5, 2021 Biz in 60
US court sides with Google in a copyright dispute with Oracle The US Supreme Court has handed Alphabet's Google a major victory in a long-running copyright battle with Oracle. The court said Google engaged in legitimate "fair use" when it used Oracle's Java programming language for the Android...
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April 1, 2021 Biz in 60
US unemployment claims fall to 684,000 last week US jobless claims fell more than expected last week as economic activity rebounded following weather-related disruptions. Another 684-thousand people filed for unemployment benefits, down from 781-thousand in the week prior. Claims are now at the...
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March 31, 2021 Biz in 60
Turkey's exports rose 9.6% in February, imports up 9.4% Turkey's exports rose by 9.6 percent on an annual basis to $16 billion last month, as economies around the world gradually reopen. Imports were also up 9.4 percent to $19.3 billion, bringing the foreign trade deficit to $3.3 billion. The top...
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March 31, 2021 Biz in 60
Turkey to take Saudi boycott to World Trade Organization Turkey's lodging a complaint with the World Trade Organisation against Saudi Arabia for forcing businesses to boycott Turkish goods. Riyadh has been ramping up pressure on Ankara after a Turkish court began hearing a case against Saudis...
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March 29, 2021 Biz in 60
J&J agrees to supply 400M vaccine doses to African countries Johnson and Johnson has agreed to supply up to 220-million doses of its single-shot coronavirus vaccine to the African Union this year. The US drugmaker says the delivery of the jabs to the 55 AU members will begin in the third quarter…
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March 24, 2021 Biz in 60
Pfizer begins human trials of oral COVID-19 drug Pharmaceutical giant, Pfizer, has begun early-stage US trials on a coronavirus oral anti-viral drug. The pill is designed to be taken early in an infection to prevent the virus from replicating in cells before patients get very sick. The drugmaker...
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March 23, 2021 Biz in 60
UK unemployment falls to 5% in three months to January Unemployment in the UK has fallen for the first time since the pandemic began, with the jobless rate slipping to 5-percent. Figures from the Office for National Statistics show the number of workers on company payrolls climbed by almost...
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March 22, 2021 Biz in 60
CEO Leon Black quits Apollo over Jeffrey Epstein scandal Wall Street billionaire Leon Black has quit his leadership positions at Apollo Global Management, the investment giant he co-founded. Black's departure comes amid scrutiny over his ties to disgraced financier Jeffrey Epstein, who killed...
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March 18, 2021 Biz in 60
New Zealand's economy unexpectedly shrinks 1% in Q4 New Zealand's economy suffered a surprise contraction in the fourth quarter, denting hopes of a swift recovery from the pandemic. GDP shrank by 1 percent in the final three months of 2020, following nearly 14 percent growth in the third quarter....
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March 17, 2021 Biz in 60
Four US states join Texas-led lawsuit against Google Four more US states have joined a Texas-led lawsuit against Alphabet's Google, bringing the number of plaintiffs to 15 states and territories. The lawsuit accuses the internet giant of breaking antitrust laws to boost its already dominant...
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March 16, 2021 Biz in 60
Sackler family increases opioid settlement offer to $4.3B Members of the Sackler family who own Purdue Pharma, have offered 4-point-3 billion dollars to resolve thousands of lawsuits linked to their powerful painkiller, OxyContin. Purdue is accused of fueling America's deadly opioid epidemic...
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March 15, 2021 Biz in 60
China's industrial production and retail sales surge China's industrial output has surged sharply in the first two months of the year, underscoring the country's recovery from the coronavirus pandemic. Official figures show industrial production jumped 35-percent from a year ago, marking its...
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March 9, 2021 Biz in 60
OECD revises up global growth forecast for 2021 The Organization of Economic Cooperation and Development has revised up its forecast for global growth this year because of the relatively rapid rollout of COVID-19 vaccines. The OECD now predicts a 5.6-percent expansion, led by a recovery in the…
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March 8, 2021 biz in 60
Microsoft hack tied to China leaves thousands vulnerable Microsoft is blaming the Chinese- government backed hacking group, Hafnium, for an attack on its servers that has so far compromised at least 60-thousand accounts. Most of the victims are small and medium sized businesses but some…
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March 4, 2021 Biz in 60
US suspends tariffs on UK goods seeking to resolve dispute The United States has agreed to suspend retaliatory tariffs imposed on UK goods over a long-running dispute over aircraft subsidies. The tariffs on a range of products including Scotch whisky, biscuits and clotted cream will be halted for…
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March 3, 2021 Biz in 60
Turkey's inflation rate rises to 15.6% in February Turkey's annual inflation rose to 15-point-6 percent in February, maintaining pressure for tight monetary policy. The cost of household equipment jumped the most, with prices rising 23-and- a-half percent year-on-year, followed by transportation,...
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March 2, 2021 Biz in 60
Two Americans extradited to Japan for allegedly aiding Ghosn Two American men have been handed over to Japanese authorities for allegedly helping the former Nissan chief Carlos Ghosn flee the country. The father-and-son duo had been fighting to stop extradition proceedings in the US since their...
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March 1, 2021 Biz In 60
France's ex-president Sarkozy given jail term for corruption Former French president Nicolas Sarkozy has been sentenced to three years in jail, with two of them suspended, over corruption charges. The 66-year-old who led France from 2007 to 2012 was found guilty of trying to bribe a judge for...
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February 25, 2021 Biz in 60
US weekly unemployment claims fall sharply to 730,000 The number of Americans filing for unemployment benefits fell more than expected amid an easing of COVID-19 infections. Another 730-thousand people lodged jobless claims last week, compared with 841-thousand in the week prior. But the number…
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February 24, biz in 60
Top executives resign from Texas power grid operator Top executives of Texas's power grid operator have stepped down after millions of homes lost electricity during a deadly winter storm last week. The chairperson of the Electric Reliability Council of Texas and four other board directors have...
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February 23, 2021 - Biz in 60
UK unemployment hits highest level in almost five years Unemployment in the UK has reached its highest level in nearly five years after a coronavirus resurgence prompted tougher lockdown measures. The Office for National Statistics says the jobless rate rose to 5-point-1 percent in the final…
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February 22, 2021 - Biz in 60
Indian court halts Future's $3.4B deal on Amazon plea India's Supreme Court has blocked the 3-point-4 billion dollar sale of retailer, Future Group, to the country's largest business conglomerate, Reliance Industries. The injunction follows claims that Future Group's sale violates a contract with...
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February 18, 2021 - Biz in 60
Turkey's central bank keeps policy rate unchanged at 17% Turkey's central bank has left its benchmark interest rate unchanged at 17-percent, in line with expectations. Under the newly appointed governor Naci Agbal, the bank has hiked its repo rate by 675 basis points since November in an attempt…
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February 17, 2021 - Biz in 60
Rio Tinto to pay record $6.5B dividend as profit soars Rio Tinto has rewarded investors with the biggest dividend in its history after higher iron ore prices boosted its full-year earnings. The Anglo-Australian miner will pay a final dividend of 6-and- a-half billion dollars to shareholders…
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February 16, 2021 - Biz in 60
Bitcoin briefly tops $50,000 for the first time Bitcoin has briefly crossed the 50-thousand dollar mark for the first time, as the world's most popular cryptocurrency extends its rally. The digital token climbed as much as 4 -percent to hit 50,400 dollars on Tuesday, before retreating to 49,500....
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February 15, 2021 - Biz in 60
Japan economy grows 12.7% year-on-year in fourth quarter Japan's economy has recorded another quarter of double-digit growth thanks to a surge in exports. GDP grew an annualised 12.7-percent from October through December.. following a record 22.9-percent expansion in the prior quarter. But for…
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February 11, 2021 - Biz in 60
US weekly unemployment claims dip slightly to 793,000 The number of Americans filing for unemployment benefits has fallen slightly as authorities begin easing coronavirus restrictions. Another 793,000 people lodged jobless claims last week, down 19,000 from the week before. But the number is…
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February 9, 2021 - Biz in 60
Reddit's valuation doubles to $6B after funding round Reddit has raised more than 250 million dollars in a new round of funding, that doubled its valuation to six- billion dollars. The funding came after the social media platform gained attention for its role in the recent Wall Street trading...
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February 8, 2021 - Biz in 60
Elon Musk's electric carmaker Tesla invests $1.5B in bitcoin Tesla has announced it bought 1-and-a-half billion dollars worth of Bitcoin in January as part of its efforts to diversify its investments. In a regulatory filing, the electric carmaker also said it will start accepting the…
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February 5, 2021 - Biz in 60
US economy adds 49,000 jobs in January US jobs growth rebounded in the first month of 2021 as authorities began easing coronavirus restrictions on businesses. Nonfarm payrolls increased by 49-thousand in January, following a decline of 140-thousand in December. The unemployment rate also fell to...
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February 4, 2021 - Biz in 60
UK, EU to probe Nvidia’s $40B acquisition of Arm Holdings The UK and EU will open a probe into Nvidia's 40-billion- dollar acquisition of British chip designer, Arm Holdings, from Softbank. Regulators will consider whether Arm has an incentive to withdraw or reduce the quality of its services to...
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February 03, 2021 - Biz in 60
Tencent blacklists 37 firms, fires more than 100 staff Tencent has blacklisted and terminated relations with 37 partner companies over embezzlement and bribery incidents. The Chinese social media and gaming giant has also fired more than 100 staff following a series of anti-graft investigations...
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February 02, 2021 - Biz in 60
Robinhood raises another $2.4B amid surge in trading Robinhood Markets has raised 2-point-4 billion dollars from shareholders in a bid to shore up its finances strained by turbulent trading. That's on the top of the 1 billion dollars it raised last week. The online brokerage has been at the…
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February 1, 2021 - Biz in 60
Turkey's manufacturing activity expands in January Turkey's manufacturing activity expanded at a strong pace in January with sharp upticks in orders and output. The Purchasing Managers' Index for manufacturers rose to 54-point-4 last month, well above the 50-point mark that separates growth from...
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January 29, 2021 - Biz in 60
France's economy shrinks 1.3% in fourth quarter France's economy fared better than expected in the fourth quarter despite the resurgence of coronavirus cases. Gross domestic product shrank by 1-point-3 percent in the final three months of last year, as new restrictions weighed on consumer and...
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January 28, 2021 - Biz in 60
Kenya's economy enters first recession in 20 years Kenya's economy has slipped into recession for the first time in 20 years as measures to contain the spread of COVID-19 hit industrial output. GDP contracted by 1.1-percent in the third quarter, after sliding five-and- a-half percent in the prior...
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January 26, 2021 - Biz in 60
South Korea's economy expands 1.1% in fourth quarter South Korea's economy grew at a faster-than- expected pace in the fourth quarter, as surging exports helped offset sagging domestic demand. GDP expanded 1-point-1 percent in the final three months of 2020 compared with the prior quarter. But…
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January 25, 2021 - Biz in 60
Deutsche Bank probes sales of investment banking products Deutsche Bank says it's conducting an internal probe into the alleged mis-selling of investment bank products. The investigation codenamed Project Teal has been launched in response to client complaints last year and initially focused on a...
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January 22, 2021 - Biz in 60
Volkswagen reports operating profit of $12.2B in 2020 Volkswagen has defied the pandemic to report an annual operating profit of 12-point-2 billion dollars. That's as a late Chinese-led sales recovery helped to mitigate the impact of a widespread shutdown of global car production. The German...
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January 21, 2021 - Biz In 60
Norwegian Air gets state backing for restructuring plan Norwegian Air has won state backing for its restructuring plan to exit bankruptcy protection. The government says it will help to fund a hybrid loan, provided the airline raises at least 530-million- dollars from investors, and the proposal...
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January 20, 2021 - Biz in 60
International Energy Agency cuts outlook for oil demand The International Energy Agency has cut its global oil demand forecast for the year. That's due to a coronavirus resurgence that's prompted the return of lockdown measures around the world. The Paris-based agency now expects daily demand for...
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ABOUT THIS SHOW
Business and financial news of the day from around the world in 60 seconds from TRT World.
HOSTED BY
TRT World
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Business in 60 Seconds currently has 150 episodes available on PodParley. New episodes are automatically indexed when they're published to the podcast feed.
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Business and financial news of the day from around the world in 60 seconds from TRT World.
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