CHICAGO: The largest US air carriers have all signed letters of intent on federal loans to help them weather the coronavirus, with United Airlines warning employees on Tuesday (Jul 28) that a surge in outbreaks was hitting bookings, threatening a travel rebound and jobs. United employees should expect to receive […]
Business
WASHINGTON: The chief executives of four of the world’s largest tech companies –Amazon, Facebook, Apple and Google – plan to argue in a congressional hearing on antitrust on Wednesday (Jul 29) that they face intense competition from each other and from other rivals. The testimony from Amazon’s Jeff Bezos, Facebook’s […]
SINGAPORE: Singapore’s overall unemployment rate rose in the second quarter to its highest level in more than a decade, as retrenchments more than doubled and total employment declined amid the COVID-19 pandemic. The overall unemployment rate rose to 2.9 per cent from 2.4 per cent in the preceding quarter, while […]
Shares of Japan’s Mitsubishi Motors Corp plunged more than 10per cent to an all-time low on Tuesday after the automaker posted dismal sales in its key Southeast Asian market and forecast a huge loss for this financial year. TOKYO: Japan’s Mitsubishi Motors faced doubts about a quick recovery after posting […]
Remington Arms Co on Monday filed for Chapter 11 bankruptcy protection for the second time in two years as the U.S. gunmaker faced financial troubles partly because some retailers placed restrictions on gun sales after school shootings. REUTERS: Remington Arms Co on Monday filed for Chapter 11 bankruptcy protection for […]
Shares of Samsung Electronics rallied on Tuesday, joining its bigger rival TSMC, driven by growing expectations that the chipmakers may benefit from Intel Corp’s plan to outsource more chip manufacturing. SEOUL: Shares of Samsung Electronics rallied on Tuesday, joining its bigger rival TSMC, driven by growing expectations that the chipmakers […]
TOKYO: The United States has awarded a US$265 million contract to a Texas facility of Japan’s Fujifilm Holdings to step up production of a coronavirus vaccine candidate, President Donald Trump said. Trump made the announcement on Monday (Jul 27), as he toured another Fujifilm facility in North Carolina. The order […]
Gold rocketed to record peaks at US$1,975 on Tuesday while the U.S. dollar plumbed two-year lows as investors wagered the Federal Reserve would reaffirm its super-easy policy outlook this week, and a tolerance for higher inflation. SYDNEY: Gold hurtled to record peaks on Tuesday before the sheer scale of its […]
Italy’s government is studying a plan to create a single ultra-fast broadband network that could initially be majority-owned by phone incumbent Telecom Italia (TIM) but would grant equal access to all market players, a person close to the matter told Reuters. ROME: Italy’s government is studying a plan to create […]
Brazil’s antitrust watchdog is asking Facebook Inc to explain the fee structure for its short-lived payments service launched in June in partnership with card processor Cielo SA, according to a document seen by Reuters. BRASILIA: Brazil’s antitrust watchdog is asking Facebook Inc to explain the fee structure for its short-lived […]