French carmaker Renault posted a record net loss of 7.292 billion euros in the first half of this year, dragged down by the impact of losses at alliance partner Nissan and the COVID crisis hitting sales. PARIS: French carmaker Renault posted a record net loss of 7.292 billion euros in […]
Business
SHENZHEN: China’s Huawei overtook Samsung Electronics as the world’s biggest seller of mobile phones in the second quarter of 2020, shipping 55.8 million devices compared to Samsung’s 53.7 million, according to data from research firm Canalys. While Huawei’s sales fell 5per cent from the same quarter a year earlier, South […]
SINGAPORE: Ride-hailing company Uber has reversed its decision to move its Asia-Pacific headquarters out of Singapore and will stay put in the country until at least the end of 2022. The company had said two months ago that it planned to relocate its Asia-Pacific headquarters to Hong Kong, but has […]
TOKYO: Japan will from next week lift a ban on the re-entry of some foreign residents, imposed to limit the spread of coronavirus, the foreign ministry has announced. Up to 90,000 foreign nationals with residence permits, including students, business people and trainees, are currently stuck outside Japan after authorities banned […]
FRANKFURT AM MAIN: The German economy suffered a record slump in the second quarter as coronavirus lockdowns took their toll, official data is set to show Thursday (Jul 30), but experts say a recovery is already under way. Federal statistics agency Destatis will unveil its flash estimate at 0800 GMT, […]
WASHINGTON: The US economy likely contracted at its steepest pace since the Great Depression in the second quarter as the COVID-19 pandemic destroyed consumer and business spending, potentially wiping out more than five years of growth. The bulk of the historic plunge in gross domestic product expected to be reported […]
NEW YORK: Eastman Kodak CEO Jim Continenza added US$79 million to his net worth on Wednesday when his options in the imaging company turned from worthless to lucrative thanks to a US government loan for a pharmaceutical ingredients supply deal that super-charged the value of his shares. Kodak’s stock increased […]
SINGAPORE: Singapore’s central bank and the US Federal Reserve have extended a US$60 billion swap facility through to March 2021 to bolster US dollar lending to firms in the country and the region, the Monetary Authority of Singapore (MAS) said on Thursday (Jul 29). The swap facility allows MAS to […]
SHENZHEN: China’s Huawei overtook Samsung Electronics as the world’s biggest seller of mobile phones in the second quarter of 2020, shipping 55.8 million devices compared to Samsung’s 53.7 million, according to data from research firm Canalys. While Huawei’s sales fell 5per cent from the same quarter a year earlier, South […]
NEW YORK: Boeing suffered a bigger-than-expected loss in the latest quarter, the company announced Wednesday (Jul 29), and signalled additional job cuts are likely as it contends with a protracted air travel downturn amid the coronavirus pandemic. The aerospace giant, which previously suspended the dividend for shareholders and announced a […]