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Bloomberg Venezuela’s inflation will skyrocket to 1 million percent by the end of the year as the government continues to print money to cover a growing budget hole, the International Monetary Fund predicted. The crisis is comparable to that of Germany in 1923 or Zimbabwe in the late 2000s, said Alejandro Werner, head of the IMF’s Western Hemisphere department. He ...

Bloomberg Nike Inc. is raising the salaries of about 7,400 employees worldwide, following an internal review of the company’s pay structure. Starting next month, the athletic shoe giant is adjusting pay for 10 percent of its global workforce, across all job levels, Nike spokeswoman Ilana Finley said Monday in a statement. The changes are being made to ensure that Nike ...

Bloomberg Telecom Italia SpA’s undersea-cable business Sparkle is among the assets the phone carrier is evaluating for sale to boost its stock price, according to people familiar with the matter. The former phone monopoly is contemplating ways to free up cash that it could spend on cutting debt and paying dividends, said the people, who asked not to be identified ...

Bloomberg US companies and industry groups are returning to Washington this week in an increasingly futile effort to get relief from President Donald Trump’s tariffs on Chinese imports. More than 80 witnesses are scheduled to testify during the two-day hearing on the $16 billion in Chinese goods targeted for 25 percent duties, which could be imposed after a comment period ...

Doves on the Federal Reserve evidently have a vocal ally in President Donald Trump. He said recently that he’s “not thrilled” about the Fed increasing interest rates — a move the central bank is expected to signal this week, without yet doing so. The president’s concern comes at the same time that interest rate watchers are getting nervous about how ...

If it’s really out with the old at John Flannery’s GE, then its arcane and vague approach to reporting earnings needs to go. Flannery has rolled out a bold transformation plan to shrink General Electric Co’s eight major business units to four and vanquish the bureaucracy that’s been stifling the 126-year-old congl- omerate. Many assumed this refresh would include a ...

The highest-valued stock in the S&P 500, based on this year’s expected earnings, is not Amazon.com Inc, Netflix Inc or any other member of the FANG bloc. In fact, none of the tech megacaps, which also include Facebook Inc and Google parent Alphabet Inc, even rank in the top 10. Hess Corp, an 85-year-old oil company, with a forward P/E ...

European Commission President Jean-Claude Juncker cannot be looking forward to his meeting with Donald Trump. He knows there’s little hope of making the US president see sense on trade. (Trump confirmed on Twitter that “tariffs are the greatest.”) But Juncker can avoid making a bad situation worse, and with luck even suggest a way out of this mess. The EU ...

It’s easy to be outraged about multinational corporations’ shifting of profits to tax havens, but much harder to figure out how to stop them from doing it without hurting the economy. Evidence exists that curbing tax avoidance opportunities makes these firms move actual jobs, not just accounting profits, overseas. In a recent paper, Thomas Torslov, Ludvig Wier and Gabriel Zucman ...

Verizon Communications Inc closed the books on a critical quarter. The company named its next CEO, shut down its latest experiment in a string of failed mobile-video services, geared up for its rollout of 5G network service, and watched with insouciance as its three closest rivals — AT&T Inc., T-Mobile US Inc. and Sprint Corp. — took bold steps on ...