Oil prices inched lower on Tuesday as a bleaker outlook for global fuel demand prompted fresh selling, but short-covering ahead of a meeting later this week of OPEC and its allies, known as OPEC+, limited losses. TOKYO: Oil prices inched lower on Tuesday as a bleaker outlook for global fuel […]
Business
LONDON: Taxi app Uber will battle in court on Tuesday (Sep 15) to win back its licence to operate in London after the city’s transport regulator removed it over safety concerns. Transport for London (TfL) refused in 2019 to grant the Silicon Valley-based company a new licence due to what […]
SINGAPORE: Beaten-down equities in Southeast Asia have become irresistibly cheap, according to analysts at HSBC who recommend investing in Indonesia and across the region in a contrarian note on Monday (Sep 14) that forecasted the best returns from laggard Singapore. On a day when social curbs returned to Jakarta, Europe’s […]
NEW YORK: ByteDance abandoned the sale of TikTok in the United States on Sunday (Sep 13) in pursuit of a partnership with Oracle that it hopes will spare it a US ban while appeasing China’s government, people familiar with the matter told Reuters. The Beijing-based company had been in talks to divest […]
Samsung Electronics’ display unit and LG Display Co Ltd are expected to stop supplying panels for premium smartphones to Huawei Technologies due to U.S. restrictions, South Korean online media Chosun Biz reported on Wednesday. SEOUL: Samsung Electronics’ display unit and LG Display Co Ltd are expected to stop supplying panels […]
Reliance Industries Ltd’s telecom unit is looking to outsource the manufacturing of over 100 million low-cost smartphones that will be built on Google’s Android platform, India’s Business Standard newspaper reported, citing sources. BENGALURU: Reliance Industries Ltd’s telecom unit is looking to outsource the manufacturing of over 100 million low-cost smartphones […]
SHANGHAI: US companies in China are increasingly fretful that trade tensions between the world’s two biggest economies will drag out over years and nearly a third said their ability to retain staff had been affected, a survey showed. Half of the firms said they believe soured ties will last at […]
NEW YORK: Pharmaceutical company AstraZeneca on Tuesday (Sep 8) said it has paused global trials, including large late-stage trials, of its experimental coronavirus vaccine because of an unexplained illness in a study participant. The vaccine, developed with the University of Oxford, has been widely seen as one of the leading […]
WELLINGTON: Jacinda Ardern’s ruling Labour Party said it would raise taxes for top income earners if it is returned to power in the polls next month, as the government looks to pay off debt accumulated due to its COVID-19 pandemic response. Ardern’s Labour Party, comfortably ahead in the election contest […]
NEW YORK: Tesla shed about US$80 billion of its market value on Tuesday (Sep 8), an amount that overshadows the combined value of General Motors and Ford Motor, after its surprise exclusion from the S&P 500 index. Tesla’s shares recorded their worst single-day percentage drop ever and added to the […]