In this past week’s REWIND of international business news:
Wading through the weeds in Amazon reviews
Amazon continues to protect the integrity of product reviews on its site. In a new bid to eliminate false reviews, Amazon filed suit against individuals offering false reviews. Amazon hopes that direct suits against individuals, rather than the marketplace where they advertise their services, are likely to be more of a deterrent.» Read More
In October, 1998, the European Commission put into effect its Directive on Data Protection, intended to prohibit the transfer of personal data to non-EU countries that do not meet the EU “adequacy standard” for the protection of personal data. The EU’s approach from inception has been different than that of the US for the protection of personal information. The EU approach is based upon comprehensive legislation and regulations that created independent governmental data protection agencies and the requirement that databases be registered with those agencies. » Read More
The below post was authored by guest blogger John Gabrielski.
The summer of 2014 concluded with oil prices hovering around $100 per barrel. Just one year later, oil prices have reached a six-year low; in August oil dropped to as low as $38 per barrel. The drastic decrease in price can be attributed to the massive supply glut that producers are now facing. » Read More
While the Fed is more comfortable that US economy is performing well, China and global turmoil rule the day. Coming out of its two day meeting, the Federal Open Market Committee released a statement pushing off any interest rate increase. “Recent global economic and financial developments may restrain economic activity somewhat and are likely to put further downward pressure on inflation in the near term.” But for the lone dissenter in the vote, Richmond Federal Reserve President Jeffrey Lacker, the decision to hold the line on any rate hike was unanimous. » Read More
It’s now been nine years since the Fed has raised its benchmark interest rate which has essentially been at zero for quite some time. The job market is certainly better reaching its lowest jobless rate of 5.1% since early in the recession, but the quality of jobs and workers’ pay has not increased to any meaningful level. The housing market remains sluggish, certainly on new home starts. » Read More