U.S. job growth likely slowed further in August as financial assistance from the government ran out, threatening the economy’s recovery from the COVID-19 recession. WASHINGTON: U.S. job growth likely slowed further in August as financial assistance from the government ran out, threatening the economy’s recovery from the COVID-19 recession. The […]
Business
SYDNEY: Virgin Australia’s creditors voted on Friday (Sep 4) in favour of the purchase of Australia’s second-biggest airline by US private equity group Bain Capital, administrator Deloitte said, paving the way for a strategic overhaul. The deal will allow the carrier to emerge from voluntary administration, which it had entered […]
TOKYO: Amazon Japan has submitted a plan to the country’s fair trade regulator on how it will improve practices suspected of violating anti-trust rules, the Asahi Shimbun reported on Friday (Sep 4). The unit of Amazon.com was raided by the Japan Fair Trade Commission in 2018 on suspicion of demanding […]
Four Republican state attorneys general led by Texas backed President Donald Trump’s push to narrow the ability of social media companies to remove objectionable content and require new transparency rules. WASHINGTON: Four Republican state attorneys general led by Texas backed President Donald Trump’s push to narrow the ability of social […]
NEW YORK: Match Group Inc said on Thursday (Sep 3) the US Department of Justice has closed its investigation relating to a lawsuit filed by the Federal Trade Commission on the dating apps owner’s business practices. The DOJ has also released the owner of Tinder and OkCupid dating apps from […]
WASHINGTON: The Justice Department, which has been conducting an antitrust investigation of Alphabet Inc’s Google, plans to bring a lawsuit against Google as soon as this month, according to two sources familiar with the probe, who said the focus remains on search and advertising. Deputy Attorney General Jeff Rosen told […]
FILE PHOTO: A Star Ferry boat crosses Victoria Harbour in front of a skyline of buildings during sunset. Hong Kong, China June 29, 2020. HONG KONG: Financial firms in Hong Kong are scrambling to fortify their compliance operations following US sanctions and China’s new national security law, even as […]
LONDON: Big oil producers are pinning their future growth on the world’s insatiable appetite for plastic, researchers said on Friday (Sep 4), in a “bet” on society’s failure to tackle disposable consumption that risks stranding billions of dollars in petrochemical investments. The industry has faced increasingly urgent questions in recent […]
LONDON: Virgin Atlantic is preparing to cut more than 1,000 jobs after seeing a slower-than-expected recovery in international demand for air travel, Sky News reported on Thursday (Sep 3). The report comes as the company’s £1.2 billion (US$1.59 billion) rescue deal is set for completion this week after a London […]
BERLIN: German prosecutors have dropped their investigation into journalists of the Financial Times in connection with its reporting on the corporate fraud at payments firm Wirecard that eventually led to its collapse. The Munich public prosecutors office said it has discontinued the proceedings as it has not found enough evidence […]