Luxury carmaker Ferrari trimmed its full-year earnings forecast on Monday after second-quarter income plunged due to supply chain and production disruptions during the coronavirus pandemic. MILAN: Luxury carmaker Ferrari trimmed its full-year earnings forecast on Monday after second-quarter income plunged due to supply chain and production disruptions during the coronavirus […]
Business
SINGAPORE: The National Wages Council (NWC) will meet a second time this year to update the tripartite position on wages, as the COVID-19 pandemic continues to impact the labour market. Manpower Minister Josephine Teo announced this on Monday (Aug 3), after a meeting with National Trades Union Congress (NTUC) secretary-general […]
SINGAPORE: Singapore’s factory activity expanded slightly in July after five months of contractions. The Purchasing Managers’ Index (PMI) for July came in at 50.2, up 2.2 points from the previous month, according to data released by the Singapore Institute of Purchasing and Materials Management (SIPMM) on Monday (Aug 3). A […]
After years of being part of a future that never quite arrived, the coronavirus pandemic has put U.S. online car sellers on the map. DES MOINES, Iowa: After years of being part of a future that never quite arrived, the coronavirus pandemic has put U.S. online car sellers on the […]
WASHINGTON: A potential shotgun wedding to Microsoft for TikTok’s US operations provoked an outcry on Monday (Aug 3) on Chinese social media as well as criticism from a prominent Chinese investor in TikTok owner ByteDance. The US tech giant formally declared its interest on Sunday after President Donald Trump, who […]
OAKLAND, California: Microsoft’s potential acquisition of short-video app TikTok carries myriad risks, thrusting it into the politically fraught social media business and China-US conflict amid increased scrutiny of Big Tech companies. But the deal could help Microsoft build on its US$27 billion purchase of LinkedIn to become a bigger player […]
SHANGHAI: Chinese artificial intelligence company Shanghai Zhizhen Intelligent Network Technology, also known as Xiao-I, has filed a lawsuit against Apple, alleging it has infringed on its patents. The company is calling for 10 billion yuan (US$1.43 billion) in damages and demands that Apple cease “manufacturing, using, promising to sell, selling […]
BEIJING: The founder of ByteDance, which owns social media giant TikTok, said on Monday (Aug 3) his teams were working round-the-clock “for the best outcome”, as talks on the sale of its US operation to Microsoft continue, Chinese media reported. TikTok – popular in the United States and widely used […]
BURBANK, California: For Walt Disney, the ability to sell Frozen-themed water bottles at the Magic Kingdom theme park while selling ads during the NBA playoffs has historically been its greatest strength. But since the coronavirus pandemic forced theme parks and cinemas to shutter and live sporting events to be cancelled, […]
THOUSAND OAKS, California: Rival drugmakers AbbVie, Amgen and Takeda Pharmaceuticals on Monday (Aug 3) said they have begun treating patients in a trial to quickly show whether a drug from each company can be repurposed and used against COVID-19, the disease caused by the coronavirus. The COVID-19 pandemic is an […]