SINGAPORE: Aircraft engine manufacturer Pratt & Whitney has laid off 20 per cent of its workforce in Singapore – making up about 400 of the more than 2,000 employees it has locally – the firm announced on Monday (Aug 3). Pratt & Whitney said its four companies unionised under the […]
Business
President Donald Trump only agreed to allow Microsoft Corp to negotiate the acquisition of popular short-video app TikTok if it could secure a deal in 45 days, three people familiar with the matter said on Sunday. BEIJING/HONG KONG: A potential shotgun wedding to Microsoft Corp for TikTok’s U.S. operations provoked […]
LONDON/TOKYO: Euro zone manufacturing activity expanded modestly last month, its first growth since early 2019, and Asia’s pain eased as the contraction slowed in export-reliant nations, adding to hopes the sector is emerging from the hit of the coronavirus pandemic. Just over 18 million people have been infected by the […]
MANILA: The Philippines stock market tumbled on Monday (Aug 3) after the government reimposed coronavirus lockdown measures in and around Manila in response to fresh outbreaks, dashing hopes of a swifter economic recovery. The restrictions, due to take effect from Tuesday, are being reinstated after a group of doctors and […]
Zoom Video Communications will shift to a partner-only model in mainland China from Aug. 23, the company said on Monday. SHANGHAI: Zoom Video Communications will shift to a partner-only model in mainland China from Aug. 23, the company said on Monday. Users in mainland China may continue to join Zoom […]
BEIJING: China said on Monday (Aug 3) it will suspend its extradition agreement with New Zealand in response to Wellington suspending its existing extradition treaty with Hong Kong. Chinese foreign ministry spokesman Wang Wenbin announced the decision at a daily briefing. New Zealand last week suspended its extradition treaty with […]
Men’s Wearhouse owner Tailored Brands filed for bankruptcy on Sunday, adding to a list of brick-and-mortar retailers that have succumbed to the economic fallout from the COVID-19 crisis. REUTERS: Men’s Wearhouse owner Tailored Brands filed for bankruptcy on Sunday, adding to a list of brick-and-mortar retailers that have succumbed to […]
China said on Monday that 28-nanometre chips that enable mobile devices to receive signals from the Beidou navigation system are in mass production and mass manufacturing of high-precision 22-nanometre positioning chips will soon kick off. BEIJING: China said on Monday that 28-nanometre chips that enable mobile devices to receive signals […]
HONG KONG: HSBC on Monday (Aug 3) said profits for the first half of 2020 plunged by 69 per cent on year as the banking giant was hammered by the COVID-19 pandemic and spiralling China-US tensions. The lender reported post-tax profits of US$3.1 billion while pre-tax profit was US$4.3 billion, […]
SINGAPORE: The Monetary Authority of Singapore (MAS) will award Standard Chartered Bank (Singapore) additional privileges as a Significantly Rooted Foreign Bank (SRFB), allowing it to operate more places of business. Standard Chartered is the first bank to qualify as a Significantly Rooted Foreign Bank, MAS said in a news release […]