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 […]
Business
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 […]
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, […]
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 […]