Date
29 February 2020

Business

  • Financial Secretary Paul Chan is apparently seeking to resuscitate the rock-bottom popularity of the SAR administration and ease public grievances by substantially loosening the purse strings. Photo: Photo: HKEJ

    Cash shower may not turn things around for Lam administration

    - Feb 28, 2020 5:06pm
    As expected, public attention has been focused on the HK$10,000 cash handouts offered by Financial Secretary Paul Chan Mo-po in his latest budget. It is estimated that up to 7 million citizens are eligible for the...
  • The impact from the manufacturing recession on the labor market in the US has so far remained largely localized to states that are more industrialized, the author notes. Photo: Reuters

    US labor market remains in good shape

    - Feb 28, 2020 4:19pm
    US job openings dropped to a two-year low in December, with most sectors and regions pointing in the same direction. Retail and transportation were particularly affected, accounting for 40 percent of the decline in vacancies at...
  • Johnson & Johnson and other drug companies facing lawsuits over their role in the opioid epidemic said the attorneys would receive more money from the settlement than some of the states they represent. Photo: Reuters

    Opioid firms say lawyers’ fee demand threatens settlement talks

    Feb 28, 2020 11:28am
    Johnson & Johnson and other drug companies facing thousands of lawsuits over their role in the opioid epidemic have warned that settlement talks will be “severely” jeopardized if plaintiffs’ lawyers are allowed to assess a fee...
  • Members of a coronavirus crisis management group gather in the western German district of Heinsberg near Aachen on Thursday after several positive cases of Covid-19 were found in the district. Photo: Reuters

    Coronavirus and the global economy

    - Feb 28, 2020 11:17am
    The emergence of Covid-19, a new coronavirus, is a tragic public-health emergency. The disease, one hopes, will be brought under control quickly, but the International Monetary Fund is already warning that economic growth in China may...
  • Plague Inc. is a strategy simulation game that allows users to create and evolve a pathogen to destroy the world. Photo: Reuters

    Strategy game Plague Inc removed from China app stores

    Feb 28, 2020 10:40am
    Strategy simulation game “Plague Inc.”, which surged in popularity in China when the coronavirus epidemic emerged, has been removed from the China app store after regulators said it contained illegal content, Reuters reports, citing the game’s...
  • Baidu expects advertising to pick up once the coronavirus outbreak ends. Photo: Reuters

    Baidu says Q1 revenue may tumble as coronavirus takes toll

    Feb 28, 2020 10:32am
    Baidu Inc., China’s biggest search engine company, said first-quarter revenue could fall as much as 13 percent from a year earlier as the coronavirus epidemic puts the brakes on economic activity and advertising, Reuters reports. It...
  • The US manufacturing sector is expected to take a hit through supply chain disruptions due to the China coronavirus crisis. Photo: Reuters

    US economy grows steadily in 4Q, but virus clouds outlook

    Feb 28, 2020 10:09am
    The US economy grew moderately in the fourth quarter, supported by a smaller import bill, the government confirmed on Thursday, but the prospects going forward remain hazy as the China coronavirus outbreak sparks fears of a...
  • Thyssenkrupp's sale of its elevator business to a consortium of Advent, Cinven and Germany’s RAG foundation could be the world’s largest buyout this year. Photo: AFP

    Thyssenkrupp sells elevator unit for US$18.7 billion

    Feb 28, 2020 9:52am
    Thyssenkrupp AG said it agreed to sell its elevators division to a consortium of Advent, Cinven and Germany’s RAG foundation for 17.2 billion euros (US$18.7 billion) in what could be the world’s largest buyout this year,...
  • The Federal Communications Commission has reportedly found four major US wireless companies of improperly disclosing consumer real-time location data. Photo: Bloomberg

    US wireless carriers face fines over data misuse: report

    Feb 28, 2020 9:43am
    The US Federal Communications Commission is set to propose fining four major US mobile phone companies at least US$200 million in total for improperly disclosing some consumer real-time location data, Reuters reports, citing sources briefed on...
  • Amazon said it will take down offers that hurt customer trust, including when pricing “is significantly higher than recent prices offered on or off" the e-commerce platform. Photo: AFP

    Amazon bars one million products for false coronavirus claims

    Feb 28, 2020 9:15am
    Amazon.com Inc. said it has barred more than 1 million products from sale in recent weeks that had inaccurately claimed to cure or defend against the coronavirus, Reuters reports. Amazon also removed tens of thousands of...
  • Huawei chairman Liang Hua speaks at a news conference in Paris on Thursday. Photo: Reuters

    Huawei plans first European 5G factory in France

    Feb 28, 2020 8:14am
    Huawei will build its first European manufacturing plant in France, according to its chairman, as the Chinese telecom giant seeks to ease worldwide concerns stoked by US charges that Beijing could use its equipment for spying....
  • Personnel from a disinfection service firm carry out sanitation work in a shopping district in Seoul on Thursday. Photo: Reuters

    Experts warn no country will be spared from coronavirus

    Feb 28, 2020 7:13am
    All countries need to prepare to combat the coronavirus, the World Health Organization said as authorities raced to contain the epidemic’s rapid global spread and Wall Street looked set for its biggest weekly fall since the...
  • Workers wearing face masks rope a container ship at a port in Qingdao, Shandong province, on Feb. 11. Photo: China Daily via Reuters

    China’s top container ports unclog backlog as virus curbs ease

    Feb 27, 2020 4:59pm
    China’s top container ports are loosening the backlog of cargoes on their docks as workers return to their posts after coronavirus travel curbs that kept them away and jammed up global supply chains have been eased....
  • Tesco’s Asian operations comprise some 2,000 supermarket outlets and convenience stores in Thailand, and 74 stores in Malaysia. Photo: AFP

    Thai tycoons battle for Tesco’s US$9 billion Asia assets: report

    Feb 27, 2020 4:43pm
    British retailer Tesco has asked bidders to submit binding offers for its Asian business by Friday, in a deal that will see Thai billionaires fight for an asset valued at up to US$9 billion, Reuters reports,...
  • CATL wants to expand its battery-making capacity in Fujian, Jiangsu and Sichuan, and fund an energy storage research project. Photo: Bloomberg

    CATL aims to raise US$2.85 billion for EV battery projects

    Feb 27, 2020 11:26am
    CATL (300750.CN), China’s top electric vehicle battery maker, said it aims to raise up to 20 billion yuan (US$2.85 billion) in a private placement of shares to fund its battery projects and boost working capital, Reuters...
  • Lawmakers said the public may have to wait until summer for the release of the HK$10,000 cash handout unless the proposal is tackled separately from other items in the budget. Photo: HKEJ

    Lawmakers want cash handout tackled separately for quicker nod

    Feb 27, 2020 11:14am
    Lawmakers from both the pan-democratic and pro-establishment camps want the HK$10,000 cash handout to be decoupled from other items in the 2020-2021 budget for quicker approval so that the public can receive the money as soon...
  • Google said the investment will create thousands of jobs and opportunities for local businesses. Photo: Bloomberg

    Google to invest over US$10 billion in US data centers, offices

    Feb 27, 2020 10:07am
    Alphabet Inc.’s Google said it will invest more than US$10 billion in offices and data centers across the United States this year, Reuters reports. The company said the new investments will be focused on 11 states...
  • Gilead Sciences is testing the experimental antiviral drug, remdesivir, among patients infected with the novel coronavirus. Photo: Reuters

    Gilead starts two late-stage studies to test coronavirus drug

    Feb 27, 2020 10:01am
    Gilead Sciences Inc. said it has started two late-stage studies to test its drug in patients with severe and moderate cases of the illness caused by the coronavirus, Reuters reports. Beginning in March, the studies will...
  • Microsoft said Windows demand remains strong, but the supply chain is returning to normal operations at a slower pace than expected amid the coronavirus outbreak. Photo: Bloomberg

    Microsoft expects Windows unit to miss revenue forecast

    Feb 27, 2020 9:53am
    Microsoft Inc. said it does not expect to meet its quarterly revenue forecast for its Windows and personal computing business as a result of the coronavirus outbreak, sending its shares down more than 1 percent in...
  • Following a shareholder vote, Apple will be under greater pressure to respond to criticism of the firm’s app removals in China, observers say. Photo: Reuters

    Apple investor vote sounds ‘warning’ over China app takedowns

    Feb 27, 2020 9:33am
    An Apple shareholder proposal critical of the company’s app removals in China received a relatively high level of support at the iPhone maker’s annual meeting on Wednesday, enough to push the company to respond, experts said....