Pro-Beijing activists holding placards and flags hand over a petition at the US consulate general in Hong Kong. BEIJING: China on Wednesday (Jul 15) said it would retaliate after US President Donald Trump signed into law an Act allowing sanctions on banks over Beijing’s clampdown on Hong Kong. The […]
Business
WASHINGTON: US President Donald Trump on Tuesday (Jul 14) shut the door on Phase 2 trade negotiations with China, saying he does not want to talk to Beijing about trade because of the coronavirus pandemic. “I’m not interested right now in talking to China,” Trump replied when asked in an […]
KUALA LUMPUR: Malaysia’s largest rubber glove manufacturer Top Glove is investing US$1 billion over the next five years to expand its production capacity, in order to meet surging demand for protective gloves amid the COVID-19 pandemic. Speaking in an exclusive interview, Top Glove’s executive chairman and founder Lim Wee Chai […]
Three of the largest U.S. banks said on Tuesday they had set aside a whopping US$28 billion for loan losses, in a stark reminder that much of the economic pain from the coronavirus pandemic is still to come. NEW YORK: Three of the largest U.S. banks said on Tuesday they […]
LONDON/BRUSSELS: Britain’s decision to ban China’s Huawei from its 5G network increases further pressure on EU countries to impose stricter limits on the world’s largest telecoms equipment maker just as the company expands its footprint across Europe. Prime Minister Boris Johnson announced the Huawei ban on Tuesday, frustrating Beijing but […]
U.S. retail giant Walmart will lead a US$1.2 billion investment in its Indian e-commerce unit Flipkart, giving it a valuation of US$24.9 billion, Flipkart said on Tuesday. BENGALURU: Flipkart will raise US$1.2 billion in funding led by majority owner Walmart Inc, the Indian e-commerce firm said on Tuesday, as it […]
Sylvia’s, a soul food restaurant on Malcolm X Boulevard in Harlem, New York, saw a welcome bump in donations and revenue from new customers in early June following calls to “buy Black” after the death of George Floyd. NEW YORK: Sylvia’s, a soul food restaurant on Malcolm X Boulevard in […]
Bharti Airtel Ltd is partnering with Verizon Communications Inc’s BlueJeans to launch a business-focused video conferencing tool, the Indian wireless carrier said on Tuesday. NEW DELHI: Bharti Airtel Ltd is partnering with Verizon Communications Inc’s BlueJeans to launch a business-focused video conferencing tool, the Indian wireless carrier said on Tuesday. […]
JPMorgan Chase & Co beat Wall Street estimates for profit in the second quarter due to a surge in trading revenue, while it set aside a record US$10.5 billion to brace for rising defaults as the United States slides into one of the worst recessions in decades. REUTERS: JPMorgan Chase […]
Citigroup Inc reported a nearly 73 per cent plunge in quarterly profit on Tuesday as the bank set aside US$5.6 billion to brace itself for a potential surge in loan defaults stemming from the coronavirus outbreak. The New York-based bank reported a profit of US$1.32 billion, or 50 cents per […]