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Apple co-founder Steve Wozniak quits Facebook over data collection

Tech guru Steve Wozniak said he has deleted his Facebook account because of the social network’s exploitation of people’s personal data. “Users provide every detail of their life to Facebook and… Facebook makes a lot of advertising money off this,” Wozniak said in an email to USA Today. “The profits are all based on the user’s info, but the users get none ...

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Gold and bitcoin equally useless – Mark Cuban

Tech billionaire Mark Cuban says he despises both gold and bitcoin. They are not viable alternatives to currency, according to the owner of the Dallas Mavericks, who lobbies for a debt-first approach. “I hate gold. Gold is a religion,” the billionaire said in an interview with Kitco News. “As an investment, hate is not strong enough. Hate with extreme prejudice ...

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Richest 1% will own two-thirds of global wealth by 2030

A report by the UK House of Commons library has warned that the continued accumulation of wealth at the top will fuel growing distrust and anger over the coming decade unless action is taken to restore balance. According to the report, seen by The Guardian, if trends seen since the 2008 financial crash were to continue, then the top 1 ...

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US sanctions take bite out of Russian stocks & ruble

Russian currency and stocks on the Moscow Exchange dropped significantly on Monday after Washington expanded the sanctions list against Russian businessmen and companies. The ruble-traded MICEX index fell 7.5 percent, while the dollar-denominated RTS index suffered a 10 percent loss in value, dropping to the lowest level since September last year. Read more The ruble also plunged against the major ...

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London Stock Exchange stops trade of Russian firm whose owner is on US sanctions list

The UK Financial Services Authority (FSA) has temporarily stopped trading of Russia’s EN+ Group on the London Stock Exchange. The firm manages assets of billionaire Oleg Deripaska, who was added to the US sanctions list last week. The message, published on the exchange website, does not say when the trading of EN+ depositary receipts would resume. Trade in London starts ...

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Moscow wants to get rid of dollar & euro payments in oil trade with Turkey and Iran

Russian Energy Minister Aleksandr Novak said the country is considering an option of payments for oil in national currencies, in particular with Turkey and Iran. According to him, both countries are interested but there is also a matter of conversion of currencies and their further use. “There is a common understanding that we need to move towards the use of ...

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Russia to Britain: 'You can keep the criminals, but return the money'

There are 61 Russian criminals living in London who have stolen around $ 10 billion from their home country, according to Russia’s prosecutor general, who is demanding that the money should be returned. “Since 2002, we have made requests to the UK for 61 extraditions. These people are accused or already convicted in Russia for committing economic crimes, the amount ...

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Top 5 American corporations most despised by Donald Trump

After taking the helm of the world’s biggest economy, Donald Trump has been seen as the most business-friendly president in decades. The Tax Cuts and Jobs Act, which was signed by the 45th US president in December, brought permanent tax breaks to American firms, temporary respite to individuals, and repeals of the Affordable Care Act mandate. The biggest beneficiaries of ...

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First-ever luxury space hotel to be launched into orbit in 2021

Tourists will soon have a new travel destination as startup Orion Span plans to open a luxury hotel in orbit 200 miles above the Earth in late 2021. The single-module commercial space station will start accommodating guests in 2022. It will include “private suites for two, the most number of windows ever created for spaceflight, weightlessness, and the world’s only ...

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China to make it rain over area 3 times the size of Spain

Since 2013 China has been creating 55 billion tons of artificial rain a year. The country is now embarking on its biggest rainmaking project ever. In terms of the plan, announced this month, Chinese authorities intend to force rainfall and snow over 1.6 million sq km (620,000 sq miles), an area roughly three times the size of Spain. According to ...

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