BEIJING: Chinese telecom giant Huawei said production of its most advanced smartphone chips would stop in September due to US sanctions, causing a “huge loss”. Huawei – the world’s biggest producer of telecoms networking equipment – has become a pivotal issue in the geopolitical standoff between Beijing and Washington, which […]
Business
Two people familiar with the matter said Trump would extend the supplemental unemployment insurance at a $400-per-week level, a reduction from the $600 in the last stimulus bill. President Donald Trump said that if he can’t reach agreement with Democrats over stimulus legislation, he’s prepared to sign executive actions to […]
At an election rally in Ohio, Donald Trump announced that Washington will impose a 10% tariff on Canadian aluminum. Canadian Prime Minister Justin Trudeau has asserted his government will implement “dollar-for-dollar” retaliatory measures after US president Donald Trump announced new tariffs on imports of Canadian aluminum. Canada and the United […]
REUTERS: TikTok is preparing advertisers for a possible ban of its app in the United States, ad buyers said, offering refunds for ad campaigns that are unable to run. The short-form video app’s advertising business is still nascent. TikTok’s anticipated US$1 billion (766 million pounds) in 2020 revenue is a […]
NEW YORK: Wall Street stocks finished mixed on Friday (Aug 7), with the Nasdaq retreating from a record following solid US jobs data as Washington talks on a new spending package remained stalemated. The US added 1.8 million jobs last month, fewer than in May and June, but better than […]
U.S. employment growth slowed considerably in July amid a resurgence in new COVID-19 infections, offering the clearest evidence yet that the economy’s recovery from the recession caused by the pandemic was faltering. WASHINGTON: U.S. employment growth slowed considerably in July amid a resurgence in new COVID-19 infections, offering the clearest […]
US President Donald Trump has announced sweeping restrictions against Chinese-owned WeChat and TikTok, signing executive orders giving Americans 45 days to stop doing business with the platforms. Beijing, China: A US ban on the WeChat messaging platform could cut lines of communication between friends in China and America and force […]
BEIJING: Beijing accused the United States of “suppression” after President Donald Trump ordered sweeping restrictions against Chinese social media giants TikTok and WeChat. Chinese foreign ministry spokesperson Wang Wenbin told a regular press briefing on Friday (Aug 7) that the US move came at the expense of American users and […]
Ride-hailing trips, in the past responsible for nearly two-thirds of Uber’s revenue, increased 5 percentage points from their low in April. Homebound customers of Uber Technologies Inc more than doubled their orders from the company’s food-delivery service in the second quarter but demand for ride-hailing trips only marginally recovered from […]
Trump’s order contended the step is needed to “deal with the national emergency with respect to the information and communications technology and services supply chain.” Washington, United States: US President Donald Trump on Thursday ordered that a ban on interacting with popular social media platform TikTok or its Chinese parent […]