REUTERS: US President Donald Trump on Friday (Jun 5) said Warren Buffett, often regarded as the world’s greatest investor, made a mistake by recently exiting a multi-billion dollar investment in the airline industry. Trump made his assessment at the White House, shortly after the US Labor Department reported an unexpected […]
Business
SINGAPORE: About 3,800 companies closed down in April, comparable to the average of 3,700 recorded in the same month over the past five years, said Senior Minister of State for Trade and Industry Chee Hong Tat on Friday (Jun 5). However, business cessation could see an “uptick” in the coming […]
NEW YORK: The combined wealth of America’s billionaires, including Amazon.com founder Jeff Bezos and Facebook CEO Mark Zuckerberg, jumped more than 19 per cent or by half a trillion since the onset of the COVID-19 pandemic in the United States, according to a report published by the Institute for Policy […]
LONDON: Luxury car manufacturer Bentley is cutting about 1,000 jobs in the United Kingdom amid the ongoing coronavirus outbreak. The cuts at the Volkswagen-owned brand are expected to be announced on Friday, according to the report. The carmaker is likely to offer workers the chance to take voluntary redundancy, the […]
WASHINGTON: The U.S. Transportation Department plans to issue a revised order in the coming days that is likely to allow some Chinese passenger airline flights to continue, government and airline officials said. On Thursday (Jun 4), China said it would ease coronavirus restrictions to allow in more foreign carriers, shortly […]
Hong Kong’s currency, pegged to the US dollar, provides considerable financial buffer, says an observer. CORK, Ireland: Increasing economic tensions between the US and China continue to threaten Hong Kong’s economy. China’s national security law will see greater controls over areas such as secessionist activities, terrorism and foreign interference. Similarly, […]
LONDON: Britain’s AstraZeneca will be able to deliver 2 billion doses of its potential coronavirus vaccine this year and next, double the previous numbers, thanks to deals with the Serum Institute of India and two Bill Gates-backed global health organisations. The company, which has already agreed to supply 400 million […]
Japan’s SoftBank is the latest major company to respond to the protests over the death of George Floyd. The technology giant has launched a $100m (£80m) fund that will invest in companies led by “people of colour”. It comes as executives of firms including Twitter, Bank of America and General […]
More than 40% of cinemas in China could go bust according to a bleak report by the China Film Association. Having been temporary closed during the virus pandemic, audiences may struggle to return, the association says. Millions of Chinese have enjoyed watching movies online during cinema closures thanks to a […]
The US is barring passenger flights from China from 16 June, in the latest sign of tensions between the two economic giants. The Department of Transportation said it is punishing Beijing for refusing to let US airlines resume flights to China as its pandemic subsides. In recent weeks the countries […]