SAN FRANCISCO: Coca-Cola, a major force in global advertising, announced Friday (Jun 26) it would suspend ads on social media for at least 30 days, as platforms face a reckoning over how they deal with racist content. “There is no place for racism in the world and there is no […]
Business
WASHINGTON, DC: US Secretary of State Mike Pompeo said on Friday the United States was imposing visa restrictions on Chinese Communist Party officials believed responsible for restricting freedoms in Hong Kong. “Today, I am announcing visa restrictions on current and former CCP officials who are believed to be responsible for, […]
SINGAPORE: Cybercrime cases jumped by more than 50 per cent last year, accounting for more than a quarter of all crimes in committed in the country, said the Cyber Security Agency of Singapore (CSA) in its annual report published on Friday (Jun 26). There were 9,430 cybercrime cases reported last […]
BENGALURU: The outlook for a global economic recovery over the past month has worsened or at best stayed about the same, according to a firm majority of economists in Reuters polls, with the ongoing recession expected to be deeper than predicted only last month. World stocks fell to their lowest […]
BERLIN: The dramatic collapse of payments provider Wirecard is an “unparallelled scandal”, Germany’s finance minister said Thursday (Jun 25), after the group filed for insolvency as it admitted that 1.9 billion euros (US$2.1 billion) missing from its accounts likely did not exist. Finance Minister Olaf Scholz said the debacle “must […]
FRANKFURT AM MAIN: Lufthansa shareholders on Thursday (Jun 25) overwhelmingly backed a nine billion euro (US$10 billion) bailout by the German government, saving Europe’s largest airline group from bankruptcy after the coronavirus crushed travel demand. Over 98 per cent of shareholders accounting for 39 per cent of Lufthansa stock voted […]
Days after a border clash with China this month in which 20 Indian soldiers were killed, New Delhi told firms to find ways to cut imports from China. But two big industries, automobiles and pharmaceuticals, say this is easier said than done. NEW DELHI: Days after a border clash with […]
SYDNEY: Australia’s Qantas is axing at least 20 per cent of its workforce and grounding 100 planes for at least a year in a US$10 billion cost-cutting blitz in response to the COVID crisis, the airline announced Thursday (Jun 25). CEO Alan Joyce said the three-year plan to save Australia’s […]
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 […]
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 […]