HONG KONG: Gold hit a record high on Monday (Jul 27) as investors rushed into the safe-haven on concerns about China-US tensions, a spike in virus infections around the world and a lack of progress on a new stimulus bill in Washington. After months of healthy rallies across equity markets, […]
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SYDNEY: Australia’s competition regulator has launched court proceedings against Google for allegedly misleading consumers about the expanded use of personal data for targeted advertising. The case by the Australian Competition and Consumer Commission (ACCC) in Federal Court said Google did not explicitly get consent nor properly inform consumers about a […]
Amid a tide of retrenchments, hiring is all the more challenging with the deluge of applications swarming in, says the Financial Times’ Pilita Clark. LONDON: There was a moment on Wednesday morning last week when it looked as if something remarkable might happen. For a brief few hours, the flood […]
BEIJING: China’s thousands of state-owned enterprises, local governments and public institutions are expanding hiring as a record number of students graduate into a job market left reeling by the COVID-19 pandemic. Around 8.7 million Chinese students are graduating this year, almost half a million more than last year, heading into […]
U.S. stock futures slipped and Asian shares came under pressure in early Monday trade as tit-for-tat consulate closures in China and the United States fanned worries about worsening diplomatic ties between the world’s two largest economies. TOKYO: U.S. stock futures slipped and Asian shares came under pressure in early Monday […]
NEW YORK: After several weeks of trading in narrow ranges, bitcoin breached US$10,000 on Sunday (Jul 26) for the first time since early June. In addition to suffering pricing blows due to the economic fallout from the coronavirus outbreak, the virtual currency went through its third so-called halving on May […]
China should be firm in adopting an expansionary fiscal policy aimed at accelerating economic growth, says Yu Yongding. BEIJING: COVID-19 hit the Chinese economy hard in the first quarter of 2020, causing real GDP to contract by 6.8 per cent year on year. But since the city of Wuhan emerged […]
BERLIN: Germany must toughen its rules for auditing and accounting to prevent another billion-euro scam like the Wirecard scandal, Bundesbank President Jens Weidmann said in a newspaper interview published on Monday (Jul 26). Payment services company Wirecard filed for insolvency last month after admitting that €1.9 billion supposedly held in […]
WASHINGTON: The US economy will grow on the order of 20 per cent in the third and fourth quarters, a top White House economic adviser predicted on Sunday (Jul 26), despite reopening setbacks linked to a coronavirus resurgence. “I don’t deny that some of these hotspot states moderate that recovery, […]
A family use a hand sanitizer station as the National Zoo reopens for socially-distanced patrons for the first time since the start of the coronavirus disease (COVID-19) outbreak in Washington, U.S. July 24, 2020. REUTERS: The United States recorded more than 1,000 deaths from COVID-19 for the fourth straight […]