Complex Made Simple

Daily brief: Top 7 business stories October 23, 2016

Here are the top 7 business headlines you need to know today:

Masdar to build Jordan’s largest solar power plant

Abu Dhabi’s renewable energy company Masdar completed a Power Purchasing Agreement to develop Jordan’s largest solar power plant yet.

The project was initially signed at Abu Dhabi Sustainability Week 2016 in January.

AT&T to buy Time Warner for $85 billion

Telecom giant, AT&T announced plans to buy American multinational media and entertainment conglomerate Time Warner for $85.4 billion, in the world’s biggest deal this year.

The deal is yet to be approved by regulators but, if completed, AT&T would have control over HBO, CNN, Warner Bros and other Time Warner media assets.

British banks to leave UK over Brexit?

Some of Britain’s biggest banks are preparing to move operations out of the country early next year over fears of a slowdown in Brexit negotiations, the chief executive of the British Bankers’ Association, Anthony Browne, said, according to The Observer.

Meanwhile, smaller banks plan to leave before end of this year.

Cyber attacks disrupt global websites

Hackers launched a complex attack on the internet, cutting access to some of the world’s most popular websites like Twitter, Paypal and Spotify.

Recession is coming, chief economist warns

Saxo Bank’s chief economist and chief investment officer, Steen Jakobsen, warns that a US recession is on its way for 2017.

According to Jakobsen, this could result from a popular shift to right-wing politics and politicians who currently stand against the status quo.

18th Global Women in Leadership (WIL) Economic Forum to begin in Dubai

The forum brings together more than 500 global business leaders, policy makers, professionals and entrepreneurs, to discuss diversity challenges, share experience and produce strategies to support women’s economic empowerment.

Pearl Initiative returns, putting sustainability in action

Taking the lead in adopting higher standards of corporate accountability, transparency and governance, the Pearl Initiative, launched in 2010, is returning this week to influence regional businesses and student communities on best practices and higher standards.