Blacklisting companies based on country of origin or cited national security concerns sets a dangerous precedent, says an observer. PERTH: TikTok, the made-in-China, video-sharing platform beloved by youth and influencers alike, is suddenly everywhere in our new world of COVID-19 lockdowns and social distancing. The platform’s growth has been tremendous, […]
Business
SEATTLE: Boeing is preparing to delay its all-new 777X jet by several months or up to a year, three people familiar with the matter said, as the COVID-19 crisis exacerbates a drop in demand for the industry’s largest jetliners. Boeing hopes to bring the jet to market as passenger travel […]
Facebook Inc and Twitter Inc took down the accounts of several high-profile supporters of Brazilian President Jair Bolsonaro following a Supreme Court order, a move that underlines the tricky territory the social media titans are navigating in some of the world’s largest jurisdictions. BRASILIA: Facebook Inc and Twitter Inc took […]
Signs of trepidation over the lasting impact of the U.S. coronavirus pandemic are growing on Wall Street, fanned by resurgent case numbers, the prospect of a slower rebound in growth and rising political uncertainty. NEW YORK: Signs of trepidation over the lasting impact of the U.S. coronavirus pandemic are growing […]
KUALA LUMPUR: US investment bank Goldman Sachs has reached a US$3.9 billion settlement with the Malaysian government over the multibillion-dollar 1MDB scandal, the two sides said on Friday (Jul 24). The deal includes a $2.5 billion cash payout by Goldman and a guarantee by the bank to return at least […]
China has one of the world’s most restrictive mechanisms for online censorship, blocking certain Western websites and apps. HONG KONG: China’s Alibaba is seizing on a new business opportunity thrown up by COVID-19: Helping foreign universities skirt China’s stringent Internet controls to keep classes going for their mainland […]
LONDON: British Airways-owner International Airlines Group said on Friday (Jul 24) American Express would pay it 750 million pounds (US$955 million) to renew their partnership, providing a welcome boost to the airline’s finances at a time when it is burning through cash. Since lockdowns have eased, flying has restarted, but […]
SINGAPORE: A former deputy group director with the Land Transport Authority (LTA) was charged on Friday (Jul 24) with taking about S$1.24 million in bribes in the form of loans to advance contractors or subcontractors’ business interests with LTA. Henry Foo Yung Thye, 46, was charged with 36 offences, including […]
TOKYO: Two decades after Japan rolled out an ambitious plan to go digital, the COVID-19 crisis has exposed the government’s deeply rooted technological shortcomings as ministries remain stuck in a paper-driven culture that experts say is hurting productivity. While Tokyo has made “digital transformation” its main policy plank this year, […]
PARIS: The EU called on Friday (Jul 24) on the United States to lift tariffs imposed in a long-running dispute over aircraft subsidies after Airbus said it had brought itself into compliance with World Trade Organization rulings. The billions of dollars in tariffs, which apply to a wide range of […]