LONDON: Half a million people stopped work over pay in Britain on Wednesday leaving transport networks paralysed and thousands of classrooms empty in the largest walkout in over a decade. As Europe battles a cost-of-living crisis, Britain’s umbrella labour organisation the Trades Union Congress (TUC) called it the “biggest […]
Business
MUMBAI: A US$2.5 billion share sale by India’s Adani Enterprises remains on schedule at the planned issue price, the company told Reuters on Saturday (Jan 28), while sources said bankers were considering changes due to a market rout in the group’s shares. Bankers on the deal were considering extending the […]
WASHINGTON: The House Foreign Affairs Committee plans to hold a vote next month on a bill aimed at blocking the use of China’s popular social media app TikTok in the United States, the committee confirmed yesterday. The measure, planned by the panel’s chair Representative Michael McCaul, a Republican, would aim […]
THE HAGUE : ASML Holding NV said on Saturday it understood progress had been made towards an agreement among several governments on new restrictions on semiconductor manufacturing equipment exports to China. ASML, a key supplier to chipmakers, has been restricted from selling its most advanced tools to China since 2019. […]
NEW YORK: From CNN to the Washington Post, US media are facing tough times, as a series of outlets have announced layoffs this winter amid fears of an economic downturn. Vox Media, owner of the Vox and The Verge websites as well as the landmark New York Magazine and its […]
WASHINGTON: Twitter boss Elon Musk announced in a series of tweets on Saturday (Jan 21) that the company’s subscription service would show less advertising to users, including an ad-free tier. The announcement comes as the social network has faced major economic uncertainty since its takeover by Musk in October. “Ads […]
WASHINGTON : Major unions and public interest and environmental groups are urging President Joe Biden to reject efforts by the European Union and other foreign governments to revise U.S. electric vehicle tax incentives. The $430 billion U.S. Inflation Reduction Act (IRA) passed in August restricts $7,500 consumer tax credits to […]
LONDON/SINGAPORE : Russia remained China’s second-largest source of crude oil in 2022, following repeat top supplier Saudi Arabia, as Chinese refiners snapped up low-cost Russian barrels while Western countries shunned them after the Ukraine crisis. China’s crude oil imports from Russia jumped 8 per cent in 2022 from a year […]
BENGALURU: India’s ShareChat, a short video-sharing platform backed by Google and Temasek, said on Monday it let go of around 20 per cent of its employees, as startups face increasing pressure from investors to cut costs. “There is a growing market consensus that the current global economic downturn would be […]
SHANGHAI : Investors should avoid Chinese currency risk and adapt to higher foreign exchange volatility, three state financial newspapers in Shanghai and Beijing said in front-page commentaries on Tuesday after more than a week of strong gains by the yuan. The currency may have strengthened, but this year it would […]