Profitloss Centerstage Events

IBM and AT&T announces a plan to form an alliance to offer wireless access to data takes the centerstage among all global events which has happened over this week.
Picture Courtesy: Profit loss

Centerstage events of week 3

China threatens to use military force against Taiwan if the...

China threatens to use military force against Taiwan if the island refuses to enter into reunification talks with the mainland. The threat is seen as a significant escalation of tensions between the two sides, which has been separated since the Chinese civil war in the 1940s.

Monday, 21 February, 2000

The euro currency broke through the psychological barrier of $1...

The euro currency broke through the psychological barrier of $1 against the U.S. dollar, marking a significant milestone for the currency and signalling a potential comeback after a long period of weakness. The euro had been introduced as the official currency of the Eurozone in January 1999, replacing a variety of national currencies. However, in the years that followed, the euro struggled to gain traction against the U.S. dollar, which was seen as the dominant global currency.

Tuesday, 22 February, 2000

Residents of the northern Nigerian city of Kaduna began returning...

Residents of the northern Nigerian city of Kaduna began returning to the streets after two days of violent clashes between Christian and Muslim groups that left at least 200 people dead and many more injured.

Wednesday, 23 February, 2000

On February 25, 2000, the World Trade Organization (WTO) ruled...

On February 25, 2000, the World Trade Organization (WTO) ruled that the United States must scrap a plan to permit offshore tax havens. The ruling came after a complaint was filed by the European Union, which argued that the U.S. plan violated international trade rules.

Thursday, 24 February, 2000

IBM and AT&T announced a plan to form an alliance...

IBM and AT&T announced a plan to form an alliance to offer wireless access to data. The alliance aims to combine IBM's expertise in e-business and wireless technologies with AT&T's strengths in telecommunications and wireless networks.

Friday, 25 February, 2000

The European Commission has proposed to modernise EU accounting rules...

The European Commission has proposed to modernise EU accounting rules by introducing the "fair value" accounting method. The use of fair value accounting has since become more widespread, with many companies and accounting standards bodies adopting the approach. However, it has also been criticized for potentially overstating the value of assets during market booms and leading to increased volatility in financial markets during periods of market downturns.

Saturday, 26 February, 2000

General Motors (GM), Ford, and DaimlerChrysler agrees to form a...

General Motors (GM), Ford, and DaimlerChrysler agrees to form a single firm to supply auto parts to their respective companies. The new company, called Automotive Components Holdings (ACH), would be jointly owned by the three automakers and would be responsible for supplying a range of components, including interior trim, exterior lighting, and electrical systems. The move was seen as a response to increasing competition in the global auto industry, as well as a way to reduce costs and improve efficiency for the three companies. By consolidating their parts supply chain, GM, Ford, and DaimlerChrysler hoped to achieve economies of scale and reduce duplication of effort and resources.

Sunday, 27 February, 2000