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 […]
Business
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 […]
LONDON: British Finance Minister Rishi Sunak has authorised a bailout plan to rescue companies that are seen as strategically important, with the state expected to buy stakes in crucial businesses that are facing acute financial problems, the Financial Times newspaper reported. Under the plan, which is named ‘Project Birch’, the […]
South Korean households are piling up debt for various reasons, from overspending on credit cards to unemployment to gambling losses. The programme Undercover Asia looks at the causes — and the effects. SEOUL: He was earning 620,000 won (S$710) a month, but Koo Young-gyu had four credit cards that gave […]
WASHINGTON: The United States on Friday (May 22) stepped up threats to strip Hong Kong of special trading privileges as it led Western nations in anger over China’s proposed national security law. US lawmakers are pressing for tough action over Hong Kong, which has become the latest front in soaring […]
LONDON: Prime Minister Boris Johnson is planning to reduce Chinese telecoms equipment maker Huawei’s involvement in Britain’s 5G network in the wake of the coronavirus crisis, the Daily Telegraph newspaper reported. Johnson has asked officials to make plans to reduce China’s involvement in British infrastructure to zero by 2023, the […]
WASHINGTON: The United States said on Friday (May 22) it would add 33 Chinese firms and institutions to an economic blacklist for helping Beijing spy on its minority Uighur population or because of ties to weapons of mass destruction and China’s military. The US Commerce Department’s move marked the Trump […]