Date
17 February 2020

Industries

  • Evergrande makes an offer that is hard for property buyers to refuse. Photo: China Daily

    Evergrande launches creative sales campaign amid virus outbreak

    - Feb 17, 2020 4:46pm
    In just three days, Chinese property developer China Evergrande Group (03333.HK) said it has received 58 billion yuan (US$8.31 billion) worth of orders in its online sales campaign. The property giant is said to have “sold”...
  • DP World is delisting to free it from ‘the demands of the public market for short-term returns,’ Chairman Sultan Ahmed bin Sulayem said. File photo: Bloomberg

    Dubai’s DP World to return to full state ownership

    Feb 17, 2020 2:51pm
    Dubai’s DP World, one of the world’s largest port operators, said on Monday that it will delist and return to full state ownership in a deal valuing the company at US$13.9 billion, Reuters reports. Parent company...
  • GM CEO Mary Barra has prioritized profit margins over sales volume and global presence. Photo: Reuters

    GM to wind down Australia, N Zealand ops, sell Thai plant

    Feb 17, 2020 11:42am
    General Motors is retreating from more markets outside of the United States and China, saying on Sunday that it will wind down sales, design and engineering operations in Australia and New Zealand, Reuters reports. The US...
  • A man wearing a face mask walks past a McDonald's store at a shopping area in Beijing. The coronavirus outbreak has prompted fast-food chains to step up efforts to keep their workers and customers safe. Photo: Reuters

    Fast-food firms in China step up ‘contactless’ pickup, delivery

    Feb 17, 2020 10:18am
    With the coronavirus outbreak in China continuing to spread, McDonald’s, Starbucks and other fast-food companies are ramping up “contactless” pickup and delivery services to keep their workers and customers safe, Reuters reports. McDonald’s has implemented contactless...
  • Facebook's Mark Zuckerberg speaks during the annual Munich Security Conference in Germany on Saturday. Photo: Reuters

    Facebook must be treated like telco-newspaper hybrid: Zuckerberg

    Feb 17, 2020 9:40am
    Online content should be regulated with a system somewhere between the existing rules used for the telecoms and media industries, Facebook CEO Mark Zuckerberg said on Saturday, Reuters reports. Speaking at the Munich Security Conference in...
  • Amazon and Walmart’s Flipkart said the proposed tax will hurt the online retail industry. Photo: Reuters/AFP

    Amazon, Flipkart seek rollback of India tax on online sellers

    Feb 17, 2020 9:34am
    Amazon and Walmart’s Flipkart are among online retailers demanding that India scale back a proposed tax on third-party sellers on their platforms, saying the burden of compliance will hurt the fledgling industry, according to documents seen...
  • The Royal Bank of Scotland reported better than expected pre-tax profit of 4.2 billion pounds for 2019, 24 percent higher than in the previous year. Photo: AFP

    RBS to slash investment bank, rebrand as NatWest

    Feb 14, 2020 4:14pm
    Royal Bank of Scotland’s new chief executive Alison Rose unveiled a new strategy for the taxpayer-backed bank on Friday, including radically cutting back the size of its loss-making investment bank and renaming the company NatWest, Reuters...
  • Nissan Motor cut its annual profit forecast and said it would not pay a dividend in the second half, while Renault posted its first profit loss in a decade. Photo: Reuters

    Nissan shares tumble after earnings rout

    Feb 14, 2020 3:29pm
    Shares of Nissan Motor fell to their lowest in 10-1/2 years on Friday, tumbling nearly 10 percent after the struggling Japanese automaker cut its annual profit forecast and said it would not pay a dividend in...
  • Governments want social media companies such as Facebook and Twitter to do more to block or remove harmful content on their platforms. Photo: Reuters

    Tech firms must do more on child abuse, police chiefs say

    Feb 14, 2020 10:48am
    European police chiefs have thrown their support behind British demands for technology companies to urgently transform how they operate to prevent access to child sex abuse, Britain’s National Crime Agency (NCA) said on Friday. The NCA...
  • The bright outlook reflects the benefit of share buybacks and investment timing, eBay said. Photo: Reuters

    EBay boosts share buyback plan, tips strong first-quarter profit

    Feb 14, 2020 10:33am
    EBay Inc. added US$3 billion to its 2020 share buyback plan and forecast current-quarter profit above analysts’ expectations after closing the sale of its StubHub ticketing unit, Reuters reports. The company is expanding its buyback plans...
  • A man walks past an advertisement promoting 5G data network at a mobile phone store in London. Photo: Reuters

    British network Three joins 5G mobile club

    Feb 14, 2020 10:03am
    British network Three is rolling out 5G mobile to major cities including London, Glasgow and Birmingham from the end of the month, joining its larger rivals in offering next-generation services on new 5G-enabled handsets, Reuters reports....
  • Tesla is launching a stock sale, taking advantage of the big surge in its share price in recent months. Photo: Reuters

    Tesla plans US$2 billion share sale amid stock surge

    Feb 14, 2020 9:54am
    Tesla plans to raise US$2 billion in a stock offering, seizing an opportunity following a huge jump in its share price over the past few months. The US electric carmaker announced on Thursday that it will...
  • Huawei Technologies was charged with conspiring to steal trade secrets from six US technology companies. Photo: Reuters

    US accuses Huawei of stealing trade secrets, assisting Iran

    Feb 14, 2020 9:50am
    US prosecutors accused Huawei of stealing trade secrets and helping Iran track protesters in its latest indictment against the Chinese company, Reuters reports. In Thursday’s indictment, which supersedes one unsealed last year in federal court in...
  • Microsoft maintains that it won the Pentagon cloud computing deal through a detailed, thorough and fair process. Photo: AFP

    Amazon wins court bid for Microsoft to suspend Pentagon work

    Feb 14, 2020 7:44am
    A US judge granted Amazon.com Inc.’s request to temporarily halt the US Department of Defense and Microsoft Corp. from moving forward on a cloud computing deal worth up to US$10 billion that Amazon says reflected undue...
  • Google’s cloud computing division is a distant third globally to Amazon.com and Microsoft in terms of revenue from renting infrastructure and other computing tools to businesses. Photo: AFP

    Google seals takeover of Looker after UK green light

    Feb 13, 2020 4:37pm
    Alphabet Inc.-owned Google said on Thursday it has completed its US$2.6 billion buyout of privately held big-data analytics firm Looker Data Sciences after winning clearance from Britain’s competition watchdog, Reuters reports. Google announced the cash deal...
  • Credit Suisse said net income rose 69 percent to 3.419 billion Swiss francs (US$3.50 billion) for the year. Photo: Bloomberg

    Credit Suisse posts best profit since 2010

    Feb 13, 2020 4:07pm
    Credit Suisse posted a 69 percent rise in annual net profit on Thursday in a bittersweet swan song for outgoing chief executive Tidjane Thiam, Reuters reports. Thiam quit after a spying scandal at the bank sparked...
  • Hong Kong's retail sector, battered by months-long protests, is likely to suffer further as the coronavirus outbreak has emptied shopping centers and closed down tourist attractions. Photo: Reuters

    HK property developers cut retail rents amid virus outbreak

    Feb 13, 2020 1:43pm
    Major shopping mall landlords in Hong Kong are offering cuts in February rent by as much as 60 percent to help tenants ride out the effects of the coronavirus outbreak. The city’s retail sector, battered by...
  • Amazon CEO Jeff Bezos bought the 3.8-hectare property from media mogul David Geffen, who acquired it in 1990 for US$47.5 million. Photo: Reuters

    Bezos buys Warner Estate in Beverly Hills for US$165 million

    Feb 13, 2020 10:54am
    Amazon chief executive Jeff Bezos, the world’s wealthiest person, has purchased a Beverly Hills mansion known as the Warner Estate from media mogul David Geffen for US$165 million, Reuters reports, citing a source familiar with the...
  • Facebook has put on hold a new dating service in the EU after concerns were raised by a data protection watchdog. Image: Reuters

    Facebook postpones EU rollout of dating service

    Feb 13, 2020 10:02am
    Facebook has postponed the rollout of its new dating services in the European Union scheduled for Thursday after Ireland’s Data Protection Commissioner (DPC) raised concerns about the launch, Reuters reports. The social network announced the launch...
  • Tesla has suggested that drivers can continue to operate their Model X SUVs before an issue relating to power steering component is addressed. Photo: Reuters

    Tesla recalls 15,000 Model X SUVs in North America

    Feb 13, 2020 9:53am
    Tesla is recalling 15,000 Model X SUVs because of a potential issue that can lead to a loss of power steering assist that could make steering harder and increase the risk of a crash, Reuters reports....