Business

MUMBAI: Cryptocurrencies are akin to Ponzi schemes or even worse and banning these is the most sensible option for India, the Reserve Bank of India’s deputy govenor said on Monday (Feb 14). “We have also seen that cryptocurrencies are not amenable to definition as a currency, asset or commodity; they […]

WASHINGTON : Toyota Motor Corp said Monday it has not yet resumed production at its three manufacturing lines in Ontario even after a key U.S.-Canadian bridge reopened. The Japanese automaker’s plants in Ontario, where it builds its best-selling RAV4 sport utility vehicle, have halted production since Thursday because of parts […]

KUALA LUMPUR: Malaysia’s economic growth, measured by gross domestic product (GDP), is likely to grow at 5.4 per cent for 2022 from the 5.0 per cent initial forecast, said OCBC Bank. OCBC Bank made the revised forecast after considering the consumption propensity and still-supportive exports environment. Its economist Wellian Wiranto […]

Price rises in the US accelerated by more than expected last month, pushing annual inflation up to 7.5% – the highest rate since 1982. Food and energy costs helped to drive the increases, which left few spending categories untouched. The rising prices are squeezing household finances as wages fail to […]

Tesla is being sued for alleged racial discrimination and harassment by a California regulator which claims the electric carmaker operates “a racially segregated workplace”. The California Department of Fair Employment and Housing (DFEH) said it had received “hundreds of complaints” from workers at the Fremont factory. Tesla called the lawsuit […]

MILAN : Stellantis on Tuesday unveiled its new Alfa Romeo Tonale compact sport utility vehicle (SUV) as it aims to expand in the premium market and add electrified and interconnected vehicles to its range. The world’s fourth largest carmaker plans to spend over 30 billion euros ($34.2 billion) through 2025 […]

LONDON : Bitcoin donations have soared to Ukrainian volunteer and hacking groups, some of which have supplied equipment to government forces, according to a report showing such groups received more than $550,000 worth of cryptocurrency in 2021. The report, published on Tuesday by blockchain researcher Elliptic, suggests digital currencies are […]

WASHINGTON : Ride-sharing company Uber Technologies plans to begin reminding passengers to wear seat belts by pinging driver phones and sending riders messages amid a spike in U.S. traffic deaths. Uber told Reuters its new feature that launches Tuesday aims to alert riders to buckle up via a distinctive chime […]