WASHINGTON, DC: The Federal Reserve will meet next week for the first time since US states began easing shutdowns imposed to stop the coronavirus pandemic, unexpectedly boosting employment numbers after two months of massive layoffs. The world’s largest economy added 2.5 million jobs and the unemployment rate fell in May, […]
Business
SINGAPORE: The strong growth in foreign currency deposits in Singapore this year has come from diverse sources – domestic, regional and beyond the region – and for varied reasons, said the Monetary Authority of Singapore (MAS) on Sunday (Jun 7). “No single region or country source dominates,” it added in […]
NEW DELHI: Indian oil-to-telecoms conglomerate Reliance Industries said on Sunday (Jun 7) that the Abu Dhabi Investment Authority (ADIA) will buy 1.16 per cent of its digital unit Jio Platforms for 56.83 billion rupees (US$752 million). ADIA’s investment in Jio Platforms, which comprises Reliance’s telecoms arm Jio Infocomm and its […]
SINGAPORE: About 1.5 terabytes of sensitive data was reportedly stolen from a US subsidiary of ST Engineering Aerospace in a massive data breach that was discovered on Friday (5 June), according to cybersecurity firm CYFIRMA . CYFIRMA said its initial investigation showed the breach at VT San Antonio Aerospace started […]
REUTERS: Facebook CEO Mark Zuckerberg on Friday said he would consider changes to the policy that led the company to leave up controversial posts by President Donald Trump during recent demonstrations protesting the death of an unarmed black man while in police custody, a partial concession to critics. Zuckerberg did […]
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 […]
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 […]