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 […]
Business
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 […]
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 […]