LONDON: Gold reached above US$1,800 an ounce on Wednesday (Jul 8) for the first time since 2011, with the precious metal benefitting from its haven status as the coronavirus outbreak triggers global economy fears. Gold hit US$1,800.86 an ounce around 0830 GMT on the London Bullion Market, the highest level […]
Business
U.S. sanctions targeting Huawei Technologies have had no immediate impact on the Chinese firm’s ability to supply 5G equipment to the UK, Huawei Vice President Victor Zhang said on Wednesday. LONDON: U.S. sanctions targeting China’s Huawei have had no immediate impact on its ability to supply 5G equipment to Britain, […]
The European Union’s second highest court will next week rule in an appeal by Apple and Ireland against a European Union ruling for the U.S. firm to pay 13 billion euros (US$16 billion), the Irish government said on Wednesday. DUBLIN: The European Union’s second highest court will next week rule […]
BERLIN: Germany is determined to expand its attempts to regulate online hate speech even as Facebook promises to do more to clean up its site after a global advertiser boycott, with politicians saying the issue is too important to leave to self-regulation. A German law in force since 2018 demands […]
REUTERS: Facebook Inc has not done enough to fight discrimination on its platform and some of its decisions were setbacks for civil rights, according to an independent audit commissioned by the company, the New York Times reported. The auditors’ findings are likely to add further pressure to the company which […]
TORONTO: Canadian and U.S. cannabis companies are facing a spike in already high costs of insurance to protect top executives from personal liability, following a slew of lawsuits by disgruntled investors alleging fraud and misinformation, with more such action expected. Some of the biggest cannabis companies, including Medmen Enterprises, Canopy […]
REUTERS: Shares in Nokia fell up to 8per cent in Wednesday trade on concerns that the Finnish company was losing the business of its key client Verizon in the United States. Nokia, battling with China’s Huawei and Sweden’s Ericsson , is trying to strengthen its 5G slate and looking especially […]
KUALA LUMPUR: Shares in Malaysia’s AirAsia Group plunged 11 per cent after trading resumed on Wednesday (Jul 8) afternoon, after its auditor said there were material uncertainties that cast doubt on the budget carrier’s ability to continue as a going concern. Ernst & Young issued an audit opinion stating that […]
LONDON: Online fashion retailer Boohoo has commissioned an independent review of its supply chain in Britain focused on areas including compliance with minimum wages and coronavirus rules after a damaging media report about working conditions. Boohoo shares have lost about a third of their value since The Sunday Times reported […]
TOULOUSE, France: Airbus workers began a brief strike on Wednesday (Jul 8) over plans to cut up to 15,000 jobs in response to the coronavirus crisis, which has stripped demand for jets as airlines cope with a plunge in tourism and business travel. Unions said up to 8,000 workers were […]