Date
21 January 2020

Industries

  • Uber Eats in India is directing restaurants, delivery partners and users to the Zomato platform following an acquisition deal by the latter. Photo: Bloomberg

    Uber sells Indian food delivery arm to local rival Zomato

    Jan 21, 2020 3:36pm
    Uber has sold its online food-ordering business in India to local rival Zomato in exchange for a 9.99 percent stake in the latter, which is backed by China’s Ant Financial, Reuters reports. The all-stock deal is...
  • Malaysia Airlines is said to have drawn interest from at least two major foreign carriers for potential stake acquisition. Photo: Reuters

    Air France-KLM seeks to buy 49% of Malaysia Airlines: report

    Jan 21, 2020 3:23pm
    Air France-KLM has submitted a proposal to acquire 49 percent stake in Malaysia Airlines, while Japan Airlines is looking at buying 25 percent, according to Reuters. Malaysia-based AirAsia Group and Malindo Air, the Malaysian arm of...
  • A reorganized Baoshang Bank will be taken over by an investor group comprising some local governments in China and state controlled firms, according to a report. Photo: Bloomberg

    Baoshang Bank to be acquired by local govts, state firms: report

    Jan 21, 2020 3:00pm
    China’s troubled Baoshang Bank will be taken over by local governments and a group of state firms, Reuters reports, citing an unidentified central bank official. The governments of Inner Mongolia Autonomous Region and Baotou, a major...
  • News of chairman Pony Ma selling nearly HK$2 billion worth of stock on the market is fueling anxiety among Tencent’s shareholders. Photo: Bloomberg

    Is it time to sell your Tencent shares?

    - Jan 21, 2020 1:19pm
    You don’t become a tycoon in China if you don’t know how to sell your shares high and buy them low. So, how do we take the news of Tencent’s chairman Pony Ma Huateng selling nearly...
  • The #MeToo movement has revealed the growing financial, reputational, and operational risks facing companies that fail to address issues of workplace discrimination, sexual harassment, or misconduct. Photo: Reuters

    Walking the talk of stakeholder capitalism

    - Jan 21, 2020 1:16pm
    The role of corporate boards has never been more important, nor subject to as much scrutiny, as it is today. The technological, environmental, geopolitical, and socioeconomic transformations of the past two decades are driving a re-examination...
  • Sundar Pichai, CEO of Google and Alphabet, speaks on artificial intelligence during a conference in Brussels, Belgium on Monday. Photo: Reuters

    Alphabet CEO backs temporary ban on facial-recognition

    Jan 21, 2020 9:29am
    The EU’s proposal for a temporary ban on facial-recognition technology won backing from Alphabet CEO Sundar Pichai on Monday but got a cool response from Microsoft President Brad Smith, Reuters reports. While Pichai cited the possibility...
  • Huawei CFO Meng Wanzhou arrives at court after a lunch break during the first day of her extradition hearing in Vancouver, Canada on Monday. Photo: Reuters

    Huawei CFO’s lawyer attacks US extradition case in Canada trial

    Jan 21, 2020 9:19am
    A lawyer for Huawei’s CFO Meng Wanzhou argued in a Canadian court that “double criminality” was at the center of a trial to decide whether she can be extradited to the United States, Reuters reports. The...
  • French President Emmanuel Macron speaks during a visit to the AstraZeneca factory in Dunkirk on Monday. Photo: Reuters

    Macron, Trump declare truce in digital tax dispute

    Jan 21, 2020 9:15am
    French President Emmanuel Macron said he had a “great discussion” with US President Donald Trump over a digital tax planned by Paris and said the two countries would work together to avoid a rise in tariffs,...
  • Airbnb, which plans to go public this year, will seek to avoid the mistakes that led to troubles at shared workspace provider WeWork in 2019. Photo: Reuters

    Airbnb takes in some lessons from WeWork debacle

    - Jan 20, 2020 12:33pm
    Last week, I mentioned two startups — Tink Labs and WeWork — that either crashed or suffered major setbacks last year. Let us now take a look at Airbnb, the home-sharing rental startup that plans to...
  • A pro-Tesla poster is seen during an action to support plans by the US electric vehicle pioneer to build its first European factory and design center in Gruenheide near Berlin on Saturday. Photo: Reuters

    Tesla moves a step closer to opening first European factory

    Jan 20, 2020 12:15pm
    Tesla has agreed to buy a property on the outskirts of Berlin, bringing it a step closer to opening its first European factory, Reuters reports, citing local authorities in Germany. The US electric carmaker last November...
  • China has set a target of reducing solid waste imports to zero by the end of 2020 but scrap metal meeting the new standards will be classed as a resource rather than waste. Photo: Bloomberg

    China unveils new standards for copper and aluminum scrap

    Jan 20, 2020 9:27am
    China’s market regulator published new standards for high-grade copper scrap and aluminum scrap metal on Sunday, shedding some light on what material will be allowed into the country from the second half of this year, Reuters...
  • Setting up strict security conditions will not create delays in the rollout of 5G in Europe, the bloc's industrial policy chief says. Photo: Bloomberg

    EU official dismisses fears strict security rules could delay 5G

    Jan 20, 2020 9:18am
    European industrial policy chief Thierry Breton dismissed claims that relying on European companies to build a 5G network would delay its rollout, weighing in on an increasingly tense debate in Germany over the risk posed by...
  • The proposal values WeWork China at around US$1 billion. Photo: Reuters

    Temasek, Trustbridge eye majority stake in WeWork China: report

    Jan 17, 2020 12:01pm
    Temasek Holdings and Trustbridge Partners have held talks with WeWork China over increasing their stake in the China branch of the troubled co-working startup to take majority ownership, three people familiar with the matter told Reuters....
  • The Peacock, NBC’s longtime logo, stands outside the NBC headquarters at the Rockefeller Center in New York City on Thursday. Photo: Reuters

    Comcast set to launch Peacock streaming service

    Jan 17, 2020 11:55am
    NBCUniversal’s new Peacock streaming service will offer free and US$5-per-month options with advertising to try to win customers for its belated entry into the online video wars, the company announced on Thursday. NBCUniversal parent Comcast Corp....
  • The lawsuit accuses Facebook of inappropriately revoking developer access to its platform in order to harm prospective competitors. Photo: Bloomberg

    Facebook sued in US federal court over anti-competitive conduct

    Jan 17, 2020 11:27am
    Four companies sued Facebook Inc. in US federal court for alleged anti-competitive conduct, saying the social network inappropriately revoked developer access to its platform in order to harm prospective competitors, Reuters reports. The plaintiffs sought class-action...
  • Real estate investment in China grew 9.9 percent last year from the year-earlier period, outpacing a 9.5 percent gain in 2018. Photo: CNSA

    China property investment grows at solid pace

    Jan 17, 2020 11:21am
    China’s property investment hit a two-year low in December even as it grew at a solid pace in 2019, adding to recent signs of a slackening in the sector, Reuters reports. Real estate investment, which mainly...
  • The South Korean state bet on several family-based conglomerates, known as chaebol, to develop the country’s automotive industry. Photo: Bloomberg

    How developing countries create industrial champions

    For many firms in emerging and developing economies, emulating the success of the likes of Samsung and Hyundai may seem like an impossible dream. But the rapid economic growth of Japan, South Korea, and other Asian...
  • A file picture shows Google's closing price displayed on a marquee in Times Square, New York on the first day of public trading for the company on Aug 19, 2004. Photo: Bloomberg.

    Google parent Alphabet tops US$1 trillion market cap

    Jan 17, 2020 10:13am
    Google’s parent Alphabet became the fourth US company to top a market value of more than US$1 trillion, joining a lofty club that includes Microsoft, Amazon and Apple. Alphabet entered the trillion-dollar league as its shares closed...
  • Microsoft plans to create a Climate Innovation Fund, which will invest US$1 billion over the next four years to speed up the development of carbon removal technology. Photo: Reuters

    Microsoft vows to erase its carbon footprint in climate push

    Jan 17, 2020 9:57am
    Microsoft Corp. has set a new ambition among Fortune 500 companies in addressing climate change, pledging to remove as much carbon as it has emitted in its 45-year history, Reuters reports. The focus on clearing carbon...
  • The People's Bank of China has cut the reserve requirement ratio eight times since early 2018 to help shore up the cooling economy. Photo: Bloomberg

    Room limited for further RRR cuts, says PBoC official

    Jan 16, 2020 4:33pm
    China’s reserve requirement ratio (RRR) is at an appropriate level and there is limited room for further cuts, a central bank official said on Thursday. China will make timely adjustments to benchmark deposit rates, and should...