Date
16 July 2019

Business

  • Before its removal from the App Store, OurPact said it had more than 3.5 million downloads and that 80 percent of its revenue was from Apple. Photo: Reuters

    Apple reinstates OurPact parental control app

    Jul 12, 2019 8:42am
    Apple Inc. has restored a software application to its App Store that let parents control their children’s iPhone usage after removing it in February, Reuters reports. The removal of the app, OurPact, was criticized by software...
  • The US Justice Department said the illegal scheme began before Indivior spun out of Reckitt in 2014 and resulted in thousands of opioid-addicted patients using the drug. Photo: Bloomberg

    Reckitt to pay US$1.4 billion to end US opioid probes

    Jul 12, 2019 8:29am
    Reckitt Benckiser has agreed to pay up to US$1.4 billion to resolve US claims that its former pharmaceuticals business Indivior before it was spun out of the company carried out an illegal scheme to boost sales...
  • Colgate-Palmolive is looking to expand its presence in the high-margin personal care business. Photo: Xinhua

    Colgate to buy Filorga skin care business for US$1.69 billion

    Jul 12, 2019 8:11am
    Colgate-Palmolive said it will buy the skin care unit of France’s Laboratoires Filorga Cosmétiques for 1.50 billion euros (US$1.69 billion) as the consumer goods company bolsters its personal care business, Reuters reports. Filorga’s anti-aging skin care...
  • Federal Reserve Chairman Jerome Powell testifies before a Senate Banking, Housing and Urban Affairs Committee hearing on Capitol Hill in Washington on Thursday. Photo: Reuters

    Fed chief affirms rate cut view; colleagues see economy humming

    Jul 12, 2019 8:01am
    As Federal Reserve Chairman Jerome Powell kept the focus Thursday on global risks that could trigger a Fed rate cut in coming weeks, his colleagues from regional Fed districts painted a rosier picture of continued US...
  • Twitter said the interruption was due to an internal system change. Photo: Bloomberg

    Twitter back up partially after worldwide outage

    Jul 12, 2019 7:29am
    Twitter Inc. said its microblogging platform was back up partially after suffering a worldwide outage for more than an hour, Reuters reports. “We were down … and now slowly coming back up. Sorry!,” chief executive Jack...
  • China’s Belt and Road Initiative is creating a network of new options for rail transport between China and Western Europe that will prompt reconsideration of supply chains by some companies. Photo: Reuters

    Trump’s trade war could create more sustainable supply chains

    - Jul 11, 2019 1:09pm
    After decades dominated by globalization, trade is being reconfigured as a result of geopolitical, technological and other changes. Sustainability could be a big winner from this process. US President Donald Trump is not generally known to...
  • Xiaomi has realized the crucial importance of enhancing its supply chain management. Photo: CNSA

    Xiaomi acts to overcome supply chain woes

    - Jul 11, 2019 12:43pm
    Xiaomi Corp. (01810.HK), which celebrated its first anniversary as a Hong Kong-listed company on Tuesday, has announced the inauguration of its Scientific and Technological Park in Beijing. The campus is part of the company’s efforts to...
  • Workers and a mariachi band celebrate the end of production of VW Beetle cars at a Volkswagen assembly plant in Puebla, Mexico, on Wednesday. Photo: Reuters

    Last Volkswagen Beetle drives into the sunset

    Jul 11, 2019 12:26pm
    Volkswagen rolled the last Beetle off the assembly line on Wednesday, the end of the road for a car that ran from Nazi Germany through hippie counterculture but failed to navigate a swerve in consumer tastes...
  • Early investors in Chinese internet giant Tencent have reaped returns that nobody had imagined back then. Photo: Reuters

    What we can learn from Hillhouse’s Tencent bet

    - Jul 11, 2019 11:55am
    Like most graduate students, Zhang Lei, now CEO of Hillhouse Capital, was trying hard to find an intern job in 1998. But he didn’t have much luck and failed to get into the last round after...
  • New Greek Prime Minister Kyriakos Mitsotakis (left) meets with outgoing Prime Minister Alexis Tsipras at the Maximos Mansion in Athens on Monday. Photo: Reuters

    Greece: Defeat of populism at the hands of reality

    - Jul 11, 2019 10:40am
    The defeat of Alexis Tsipras in Greece is the loss of those who came to power promising that two plus two would equal twenty-two, of paper promises and policies that harm those that they pretend to...
  • Federal Reserve Chairman Jerome Powell testifies during a House Financial Services Committee hearing on ‘Monetary Policy and the State of the Economy’ in Washington on Wednesday. Photo: Reuters

    Facebook’s Libra project raises ‘serious concerns’: Fed’s Powell

    Jul 11, 2019 9:40am
    Facebook’s plan to build a digital currency called Libra “cannot go forward” until serious concerns are addressed, US Federal Reserve Chairman Jerome Powell said on Wednesday. “Libra raises many serious concerns regarding privacy, money laundering, consumer...
  • Pedestrians walk past an Apple Store in Beijing. The US smartphone maker has launched a program to help Chinese developers create more apps for its platform. Photo: Reuters

    Apple starts China app development program in services push

    Jul 11, 2019 9:22am
    Apple has started a program in Shanghai to help Chinese developers create apps as part of the iPhone maker’s efforts to build out its services business in the key market, Reuters reports. The program, or accelerator,...
  • An IBM executive believes companies "should also be held legally responsible to use reasonable, common-sense care when it comes to moderating online content". Photo: Reuters

    IBM proposes changes to law on user content liability

    Jul 11, 2019 9:21am
    International Business Machines Corp. has proposed changes to a 1996 law that protects internet companies from liabilities related to what users post on their platforms, Reuters reports. In a blog post on Wednesday, IBM called for...
  • Anta has slammed a report by Muddy Waters, saying the short-seller's claims in relation to the company's operations are 'incorrect and misleading'. Photo: Bloomberg

    Why Anta was barely hurt by a 106-page short-seller report

    - Jul 11, 2019 9:18am
    Anta Sports Products, the world’s third-largest sportswear company, was targeted by US short-seller Muddy Waters. Following negative reports from the short-seller, the Chinese firm saw its share price tumble 7.3 percent on Monday. But it quickly...
  • US Trade Representative Robert Lighthizer said the United States is very concerned that the tax "unfairly targets American companies". Photo: Bloomberg/Reuters

    US to probe French plan to tax tech companies

    Jul 11, 2019 7:46am
    US President Donald Trump ordered an investigation into France’s planned tax on technology companies, a probe that could lead to the United States imposing new tariffs or other trade restrictions, Reuters reports. “The United States is...
  • Federal Reserve Chairman Jerome Powell at a House Financial Services Committee hearing: "The law clearly gives me a four-year term and I fully intend to serve it." Photo: Reuters

    Fed’s Powell sets stage for rate cut this month amid trade war

    Jul 11, 2019 7:32am
    Federal Reserve Chairman Jerome Powell has set the stage for the first US rate cut in a decade this month, as records from policymakers’ latest meeting showed increasing fear that a US-China trade war is causing...
  • James Dyson bought the three-storey penthouse at the top of Singapore’s tallest building, Tanjong Pagar Centre (right), for S$73.8 million (US$54.2 million).  Photo: Reuters

    UK billionaire Dyson snaps up Singapore’s priciest penthouse

    Jul 10, 2019 4:53pm
    British billionaire and inventor of the bagless vacuum cleaner James Dyson has bought the most expensive apartment in Singapore, where his company plans to build an electric car. The three-storey “super penthouse” at the top of...
  • Facebook’s Libra project will come under intense scrutiny from governments and regulators amid fears that the digital currency could pose a risk to financial markets. Photo: Reuters

    Hurdles to Facebook’s Libra plan

    - Jul 10, 2019 12:21pm
    Facebook said in mid-June that its subsidiary Libra Network will set up a Libra Association with 26 founding members. The Libra Association will issue a cryptocurrency called Libra. Visa, MasterCard, Uber, PayPal, eBay, Lyft and Spotify...
  • Mercedes Vila, co-founder of Biotech Foods, said her company aims to reach production scale and have regulatory approval by 2021. Photo: Reuters

    US$280,000 lab-grown burger set to be a lot more affordable

    Jul 10, 2019 9:41am
    Consumers concerned about climate change, animal welfare and their own health are fueling interest in so-called clean meat, with the number of associated business startups climbing from four at the end of 2016 to more than...
  • Huawei will remain on the US Entity List, meaning US parts and components cannot be sold to the company without special licenses. Photo: Reuters

    US to approve sales it deems safe to blacklisted Huawei

    Jul 10, 2019 9:14am
    The US government will issue licenses to companies seeking to sell goods to China’s Huawei where there is no threat to national security, Commerce Secretary Wilbur Ross said, leaving industry observers unsure about which products will...

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