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Russia bans food import
For a week now, Russian officials have been preparing its own sanctions on the West, following economical bans the EU ans the US imposed on Moscow. Russia’s sanctions had been announced: Putin has banned most food imports coming from the West. The country ... read entire article »LinkedIn has to pay employees $6m in damages
LinkedIn has to pay about $6 million to 359 current and former employees for violations of wages law. The workers accused LinkedIn of not paying them for their overtime hours. The US-based company defended itself by saying it did not posses, at that time ... read entire article »Russian airline hit by EU sanctions
EU sanctions imposed on Russia have forced all Aeroflot flights into Europe to remain grounded. The Russian low-cost airline, Aeroflot, has been severely hit by EU sanctions which forbid any European entities to collaborate with the company. Aeroflot official ... read entire article »Ukraine’s economical downfall increases
Ukraine’s economy if declining at a faster and faster rate as fighting enrages in the eastern parts of the country. Its GDP has fallen by 4.7 percent just in the second quarter as compared to the same period of last year. Turmoil in the eat f Ukraine is the ... read entire article »The half of billion euro business of Barcelona
The 2013-2014 season has been a bad one for FC Barcelona when it comes to sport. However, the Catalan club can't complain about their financial year because it has been a success. The club reported an income exceeding half a billion euros. The famous Spanish club ... read entire article »The money making industry of Premier League
Premier League surpassed the borders of a “sport” years ago. The league became a massive money industry and almost every year it is among the most profitable sport leagues in the world with billions involved. Sportingintelligence published a study over the ... read entire article »300 million for settlement
A third of a billion euros is the amount of money Swiss bank UBS payed Germany. The bank agreed to settle a long running legal dispute in which it was accused of hiding money in order to evade taxes. The Swiss bank confirmed it has reached a settlement with ... read entire article »Costa Concordia sold for steel in $100 million operation
The Costa Concordia wreck has successfully completed its last sea voyage, reaching the Genoa port, where it was built 9 years ago, after a 4-day journey. The line cruiser will be dismantled and turned into scrap metal for cars, refrigerators and washing machines. ... read entire article »The World Cup is starting to financially pay off
The Football World Cup was a successful sporting event and one of the most talked about in history. It was also the most expensive World Cup ever but it turns out it is starting to pay off. According to the Brazilian Tourism Ministry more than 1 million foreign ... read entire article »Rodriguez the 'gold mine'
James Rodriguez turned out to be a gold mine for Real Madrid. The Colombian football star is “red hot” after his transfer in Madrid and the club knows this. The most recent statistic reveald by the club is mind blowing. Despite the fact that Rodriguez was an ... read entire article »GM estimates $400M will go to car owners
After being forced to call back several million of its vehicles over faulty ignition switches, General Motors reported that the will have to pay victims of faulty car parts an estimated $400 million as compensation. The company’s earnings report for the second ... read entire article »LG reports record figures for Q2
This years has been good for LG Electronics so far. The Korean tech company released its results for the second quarter of 2014. Its Mobile Communications Company has a lot to do with the good results as it shipped a record number of smartphones. According to ... read entire article »Israel pays the price for Gaza conflict
The conflict Israel chose to engage in in the Gaza Strip will hang heavily on its economy. After several Western nations, including France, the UK and the US chose to cancel all flights going into Israel, the costs for the Israeli Airlines will be reduced by a ... read entire article »Microsoft reports increased revenues
Exactly as announced a few weeks ago, Microsoft came out and revealed its earnings for the second quarter of the year that ended in June. The giant company recorded a slim decrease in revenue compared to last year. Official figures show Microsoft recorded 23.38 ... read entire article »Massive prize pool takes gaming to next level
The news of the week in the world of gaming is not that Newbie won the Dota 2 International competition, but that it took home more than five million dollars. The competition had a massive prize poll of almost 11 million dollars. In certain developed countrie ... read entire article »Mayweather is the best payed athlete in the world
Football became a business long ago and when it comes to big names there are large amounts of money involved. Still, only the best of the best made it to the rich list according to the famous American magazine, Forbes. Cristiano Ronaldo and Lionel Messi, probably ... read entire article »Asian group buys Forbes for 351m euros
The Forbes media empire will be handed down to a Hong Kong based group in a 351 million euros takeover. The Forbes family decided to sell the company after years of surging profits. Steve Forbes will remain, however, editor-in-chief and chairman of the company. read entire article »Huawei marks a 19% revenue jump
The second biggest telecommunications equipment maker, Huawei Technologies, posted a 19% jump in revenue for the first half of 2014. The Chinese company posted a 16.175 billion euros revenue for this year, so far, and said that its growth will expand even further ... read entire article »Smoker’s widow wins $23b trial against tobacco company
A widow of a chain smoker who sued the biggest tobacco company in the US, R. J. Reynolds, for concealing the health risks involved in consuming their products, has been awarded a record sum of $23 billion by a court in Florida. Her deceased husband, Michael ... read entire article »