The FINANCIAL: Latest business news and analysis

America’s richest town has more than $500k below average income in a year

The FINANCIAL -- According to Richest Places annual index Atherton, California tops the list for the fourth year in a row with an annual household income of $525,324. In Atherton live roughly 7,000 people and it is located in the heart of Silicon Valley, just miles away from the headquarters of Facebook and Google. A Microsoft cofounder's $35 million mansion located in Atherton just sold. ...

China cancels 3 Wall Street Journal’s reporters’ credentials

The FINANCIAL -- China said it would revoke the press credentials of three Wall Street Journal reporters working in mainland China, after the newspaper declined to apologize for a column with a ...

Facebook sued for $9bn in a tax court trial

The FINANCIAL -- The Internal Revenue Service have accused Facebook of deliberately “downplaying” the value of its assets as part of a scheme to pay less US tax. The IRS claims that Facebook owes ...

High value VC investments remained concentrated in the US and China during Q4 2019, finds GlobalData

The FINANCIAL -- The US and China remain the most preferred investment destinations for venture capital (VC) investors globally. High value VC investments (>=US$100m) also remain concentrated in ...

How COVID-19 Kills: The New Coronavirus Disease Can Take A Deadly Turn

More than 1,300 people, almost all in China, have now died from COVID-19 — the newly minted name for the coronavirus disease first identified in Wuhan, China, that has infected more than 55,000 ...

Whitney Houston hologram tour is about to kick off

The FINANCIAL – Whitney Houston, who died in 2012 at the age of 48, is the latest celeb to get the hologram treatment. The show is the result of five years of discussion. The company behind this ...

Russia Blamed for Massive Cyber Attack

The FINANCIAL -- The US, UK, and Georgia accused the Russian military Thursday of being behind a major 2019 cyber attack on Georgia that disrupted "several thousand Georgian government and ...

Huawei - "Trojan horses for Chinese intelligence" still welcomed

The FINANCIAL -- Huawei Technologies, the world's top telecom equipment maker, on Thursday said it had secured more than 90 commercial 5G contracts worldwide, an increase of nearly 30 from last year ...

Federal prosecutors are treating the shooting in Germany as terrorism

The FINANCIAL -- At least 9 people were shot and killed in Germany at two different shisha bars. There is a video posted online two days before the attack, where suspect outlines his ...

Virgin Galactic’s shares soared due to company’s plans to send tourists into space

The FINANCIAL -- Virgin Galactic Holdings Inc. shares surged on Tuesday. Company is one step closer to eventually launching paying passengers into space. Virgin Galactic has over 600 reservations ...

L Brands set to sell Victoria’s Secret for over $1 billion

The FINANCIAL -- L Brands reportedly is close to a deal to sell control of Victoria’s Secret to Sycamore Partners. L Brands is expected to keep a 45 per cent stake in the separate company, which ...

4B – a new initiative by Bank of Georgia to foster SME development

February the 14th 2020 marks the day that Bank of Georgia unveiled its unique business space – 4B. According to the initiative to support the development of SMEs, the Bank has decided to create a ...

Establishing Euronews Georgia while having the time of his life

In a country striving towards the West, the global brand Euronews is about to be established as a new local broadcasting channel. Teaming up with Georgia’s Silknet, in his most recent visit Michael ...