FRANKFURT AM MAIN: Lufthansa’s top shareholder on Wednesday (Jun 24) said he would back a nine billion euro government rescue package, removing the threat of a last-minute veto that could have plunged the German airline into bankruptcy. “I will vote for the agreement,” German billionaire Heinz Hermann Thiele told the […]
Business
The economics profession widely overlooked the importance of social and institutional pre-conditions, says former World Bank chief economist Kaushik Basu. ITHACA, NEW YORK: The COVID-19 pandemic has caused massive disruptions to markets, supply chains, and world trade. This has forced a reckoning with many traditional policies and should be treated […]
NEW YORK: Wall Street stocks tumbled on Wednesday (Jun 24) on increasing signs that higher coronavirus cases in the United States will slow the recovery in the world’s biggest economy. The Dow Jones Industrial Average slumped 710.16 points, or 2.72 per cent, to 25,445.94. The broad-based S&P 500 slid 2.59 […]
WASHINGTON, DC: The US National Highway Traffic Safety Administration (NHTSA) said on Wednesday it has opened two investigations into reports of headlight failures in 392,000 Kia Sorento sport utility vehicles and steering issues in 781,000 General Motors vehicles. NHTSA said it had received 74 reports of sudden, unexpected loss of […]
SINGAPORE: Millions of dollars of oil stored in tanks and ships in Asia and Europe has become caught in a web of lawsuits related to trade and financing deals by Singapore’s Hin Leong Trading, according to court documents and shipping data. A report filed this week in Singapore’s High Court […]
WASHINGTON: The coronavirus pandemic is causing wider and deeper damage to economic activity than first thought, the International Monetary Fund said on Wednesday, prompting the institution to slash its 2020 global output forecasts further. The IMF said it now expects global output to shrink by 4.9 per cent, compared with […]
SINGAPORE: Singapore is on track to offer nationwide 5G coverage by 2025, after Singtel and a joint venture by StarHub and M1 were on Wednesday (Jun 24) issued final awards to operate networks here. This marks the close of a “robust and rigorous” 5G call for proposal process, said Minister […]
Google will be matching Facebook’s effort in adding fact-check labels to photos and videos to combat online misinformation. SAN FRANCISCO: Alphabet Inc’s Google on Monday (Jun 22) said it would start showing fact-checking labels on Google Images search results globally, as tech companies come under increasing pressure to combat […]
SAN FRANCISCO: Alphabet Inc’s Google on Monday (Jun 22) said it would start showing fact-checking labels on Google Images search results globally, as tech companies come under increasing pressure to combat the viral spread of misleading claims online. Google will display the “fact check” labels underneath thumbnails that appear in […]
SINGAPORE: Property agents are gearing up to serve more home buyers who want to view showrooms and resale residential units in person, in Phase 2 of Singapore’s post-“circuit breaker” reopening. Potential buyers were unable to do so for more than two months due to COVID-19 restrictions, prompting some of them […]