Date
22 November 2019

Business

  • The Federal Reserve's 17 policymakers agreed that pushing borrowing costs below zero “did not appear to be an attractive monetary policy tool in the United States”. Photo: Bloomberg

    Fed shows little appetite for bold policy change sought by Trump

    Nov 21, 2019 7:34am
    As US Federal Reserve officials hone their monetary policy playbook in preparation for the next economic downturn, it appears they will eschew more controversial approaches tried by other global central banks, including one that President Donald...
  • A file picture shows some industrial buildings in Ngau Tau Kok. Hong Kong needs to revive its manufacturing sector, but with select high-end segments, the author says. Photo: HKEJ

    HK needs to bring back manufacturing, albeit high-end

    - Nov 20, 2019 6:57pm
    Hit by months-long social unrest and the Sino-US trade war, Hong Kong’s economy has entered a technical recession and the prospects going forward appear anything but promising. The government has launched a series of relief and...
  • Apple Daily’s paid subscription service for digital content has surpassed expectations in terms of reader response, its parent company says. Photo: Bloomberg

    Next Digital’s loss widens but new strategy shows promise

    - Nov 20, 2019 1:48pm
    Next Digital, which publishes the pro-democracy newspaper Apple Daily, is among the Hong Kong media entities that have confronted challenges as well as opportunities amid the months-long anti-government protests in the city. Standing at the forefront...
  • Home monitoring devices need low latency and the ability to compute data locally to notify residents quickly of an intrusion or leak. Photo: Reuters

    Uncovering new opportunities with IoT and edge computing

    - Nov 20, 2019 10:33am
    There are places so remote, so harsh that humans can’t safely explore them. These places might have important data that could help us better understand earth and its history, as well as life on other planets....
  • Westpac failed to adequately monitor and report on time payments from convicted child sex offenders for years, regulators said. Photo: AFP

    Westpac accused of 23 million money laundering law breaches

    Nov 20, 2019 10:32am
    Regulators on Wednesday accused Australia’s Westpac Banking Corp. of 23 million breaches of anti-money laundering laws, saying the bank ignored red flags and enabled payments from convicted child sex offenders and “high risk” countries for years,...
  • Amazon claims that its teams do not use individual seller data to launch, source or price private label products. Photo: Reuters

    Amazon says it uses aggregated seller data to help business

    Nov 20, 2019 10:00am
    Amazon uses “aggregated data” from sellers in its third-party marketplace to improve its overall business, the online retailer said in response to a congressional antitrust probe. Such data, also culled from public sources and Amazon’s first-party...
  • The People's Bank of China lowered the one-year loan prime rate by five basis points to 4.15 percent. Photo: Bloomberg

    PBoC cuts lending benchmark slightly, as expected

    Nov 20, 2019 9:50am
    China’s central bank cut its new benchmark lending rate on Wednesday for the third time since its debut in August, as widely expected, Reuters reports. The one-year loan prime rate (LPR) was lowered by five basis...
  • The NTSB said the probable cause of the Uber crash was the failure of the back-up safety driver to monitor the driving environment because she was distracted throughout the trip by her cellphone. Photo: AFP

    NTSB blames Uber, distracted backup driver for fatal crash

    Nov 20, 2019 9:46am
    The US National Transportation Safety Board (NTSB) took Uber to task for what it said were weaknesses in its approach to safety as it laid out its findings in the investigation of the first-ever death involving...
  • US President Donald Trump presides over a cabinet meeting at the White House on Tuesday. Photo: Reuters

    Trump: US to hike tariffs if no China trade deal is reached

    Nov 20, 2019 9:31am
    The United States would raise tariffs on Chinese imports if no deal is reached with Beijing to end a trade war, US President Donald Trump said, threatening an escalation of the spat that has damaged economic...
  • Customers and staff watch from a shuttered fast-food outlet as a riot police officer walks past inside a shopping mall in Tai Po on Nov. 3. Photo: Reuters

    Tough times may speed up HK retail industry transformation

    - Nov 20, 2019 8:00am
    Hong Kong has been suffering from an economic downturn since the start of the US-China trade war. The situation got even worse amid violent protests over the past few months. Undoubtedly, the severely affected sectors are...
  • Eight Hong Kong shares will be equal to one of Alibaba’s New York-listed American depositary shares. Photo: AFP

    Alibaba will raise up to US$12.9 billion in HK listing: report

    Nov 20, 2019 7:32am
    Chinese e-commerce giant Alibaba will raise up to US$12.9 billion in its Hong Kong secondary listing, pricing its shares at a 2.8 percent discount to their last closing price in New York, Reuters reports, citing two...
  • EasyJet said to it would cost around 25 million pounds (US$32.39 million) to offset the emissions from all vehicles in the next financial year. Photo: Reuters

    EasyJet to offset carbon emissions from all flights

    Nov 19, 2019 4:09pm
    British budget airline easyJet on Tuesday said it will become the world’s first major airline to operate net-zero carbon flights across its whole network by offsetting the emissions from flying, Reuters reports. The airline said that...
  • A woman tries food samples at the booth of plant-based food company Beyond Meat at the VeggieWorld fair in Beijing on Nov. 8. Photo: Reuters

    The battle for China’s meatless market

    Nov 19, 2019 11:06am
    US plant-based “meat” makers targeting China like Impossible Foods and Beyond Meat will need to battle homegrown rivals which are developing local favorites such as dumplings and mooncakes to nab a share of the lucrative market....
  • Robust consumer spending and loose monetary policy can help sustain the US expansion in the near term. Photo: Reuters

    Investing in a late-cycle environment

    - Nov 19, 2019 10:27am
    This is now the longest expansion in post-war history, and the US equity market is at an all-time high. This makes investors jittery, searching the horizon for recession signs. But as the old saying goes, expansions...
  • Under Armour says its disclosures and accounting practices have been 'entirely appropriate'. Photo: Bloomberg

    Under Armour’s fall from grace

    - Nov 19, 2019 9:18am
    The Wall Street Journal reported last week that Under Armour had sent a large amount of products to off-price chains in the past in order to jack up sales artificially. The company’s sales growth has slowed...
  • Coty is banking on reality TV star Kylie Jenner’s more than 270 million social media followers to attract a younger audience. Photo: Reuters

    Coty takes US$600 million bet on Kylie Jenner’s beauty brands

    Nov 19, 2019 8:50am
    Coty Inc. said it will pay US$600 million for a majority stake in Kylie Jenner’s make-up and skincare businesses, as it looks to tap into the reality TV star’s huge social media reach, Reuters reports. One...
  • The lawsuit seeks damages for all US purchasers of the Impossible Whopper. Photo: Reuters

    Vegan sues Burger King over Impossible Whopper

    Nov 19, 2019 8:27am
    Burger King was sued by a vegan customer who accused the fast-food chain of contaminating its meatless “Impossible Whoppers” by cooking them on the same grills as its traditional meat burgers, Reuters reports. In a proposed...
  • California will only buy from automakers that recognize the state’s legal authority to set emissions standards. Photo: Reuters

    California to stop buying GM, Toyota and Fiat Chrysler vehicles

    Nov 19, 2019 8:06am
    California said it will halt all purchases of new vehicles for state government fleets from GM, Toyota, Fiat Chrysler and other automakers backing US President Donald Trump in a battle to strip the state of authority...
  • Huawei said the extension “won’t have a substantial impact" on its business. Photo: Bloomberg

    US grants Huawei new 90-day license extension

    Nov 19, 2019 7:45am
    The Trump administration has issued a new 90-day extension allowing US companies to continue doing business with China’s Huawei Technologies Co. Ltd., Reuters reports. After adding Huawei to an economic blacklist in May citing national security...
  • Amazon has introduced an ad-supported free version of its music streaming service Amazon Music. Photo: Bloomberg

    Amazon offers ad-supported free music streaming service

    Nov 19, 2019 7:34am
    Amazon.com Inc said it has introduced an ad-supported free version of its music streaming service Amazon Music, taking on rival Spotify Technology which has nearly 140 million users for its free version, Reuters reports. Amazon offers...