WASHINGTON: President Donald Trump signed an order on Thursday (May 28) seeking to strip social media giants like Twitter of legal immunity for content on their platforms in a move slammed by his critics as a legally dubious act of political revenge. The executive order calls on government regulators to […]
Business
SINGAPORE: Hyflux’s high-profile debt restructuring seems to be hanging in the balance again after it said on Friday (May 29) that its S$400 million rescue deal with Middle Eastern suitor Utico has “ceased2 with the lapsing of the long-stop date earlier this week. The embattled water treatment firm said it […]
WASHINGTON: US President Donald Trump on Friday (May 29) ordered a probe into the actions of Chinese companies listed on American financial markets as tensions flared anew between the world’s two biggest economies. The announcement followed Beijing’s move to implement a new security law on semi-autonomous Hong Kong that critics […]
SINGAPORE: John Ng was hoping to use 2020 to get his new company StyleLab off the ground. He had taken over the distribution rights to fashion label G-Star RAW last July from Sidefame, where he was previously the director and general manager, and successfully acquired the distribution rights for agnès […]
The UK’s coronavirus furlough scheme will finish at the end of October, Chancellor Rishi Sunak has confirmed. At the No 10 briefing, Mr Sunak also set out how employers will have to start sharing the cost of the scheme. From August, employers must pay National Insurance and pension contributions, then […]
WASHINGTON: US President Donald Trump’s attempt to curb what he says is social media censorship is a political gambit and will not change the legal obligations of companies like Twitter and Facebook, according to legal experts. An executive order signed by Trump on Thursday (May 28) directs federal agencies to […]
BEIJING: Volkswagen said on Friday (May 29) it will invest around 2 billion euros (US$2.2 billion) in two Chinese companies in the electric vehicle sector, calling it “the world’s biggest market”. The German car giant said it will take a 50 per cent stake in JAG – the parent company […]
LONDON/BOSTON: Last month Zagg Inc, a Utah-based company that makes mobile device accessories, received more than US$9.4 million in cash from a U.S. government program that has provided emergency loans to millions of businesses hit by the coronavirus. The money was part of the US$660 billion Paycheck Protection Program (PPP) […]
NEW YORK: Wall Street stocks ended lower on Thursday (May 28) following a late-afternoon retreat on growing US-China tensions, as markets digested more bad economic data following coronavirus shutdowns. The Dow Jones Industrial Average finished at 25,400.64, down 0.58 per cent and ending a three-day winning streak. The broad-based S&P […]
FILE PHOTO: A Renault logo is seen outside the Renault factory in Choisy-le-Roi near Paris, France. PARIS: French auto giant Renault plans to cut around 15,000 jobs worldwide, including 4,600 in France, as part of a two billion euro (US$2.2 billion) cost-cutting plan over three years, sources said on […]