Date
15 October 2018

Business

  • IMF Managing Director Christine Lagarde urged countries to “de-escalate” trade frictions and fix global trading rules, rather than abandon them. Photo: Reuters

    IMF’s Lagarde says trade wars to hurt ‘innocent bystanders’

    Oct 11, 2018 1:25pm
    International Monetary Fund Managing Director Christine Lagarde warned countries of the perils of a trade or a currency war, saying they could be detrimental to global growth and hurt “innocent bystanders”, Reuters reports. Lagarde urged countries...
  • Google is taking renewed aim at the smartphone market with its Pixel 3 devices, but achieving significant scale won’t be easy in an industry segment that is showing signs of stagnation. Photo: Bloomberg

    Can Google Pixel 3 take on other Android flagships?

    - Oct 11, 2018 12:33pm
    Google has been trying to challenge Apple and Samsung in the smartphone market but never really succeeded in taking the business to a scale sufficient enough to make it a significant player in the segment. But the...
  • The CFIUS, which is chaired by the treasury secretary, focuses on Chinese firms seeking to buy US high-end semiconductor makers and other tech companies. Photo: AFP

    US set to tighten rules for Chinese investment in key sectors

    Oct 11, 2018 10:43am
    The US federal government will tighten rules on foreign investment in sensitive industries like technology and telecommunications from next month as it starts to enforce a law aimed at curbing Chinese investment in 27 sensitive sectors,...
  • Market players urged regulators to avoid an “exhaustive and prescriptive list” of rules and instead set principles that allow fintech companies to operate “confidently across borders and enter new markets”. Photo: Reuters

    Data privacy rules spoiling fintech boom, says industry group

    Oct 11, 2018 10:11am
    Data privacy rules in Asia are limiting the spread of financial technology, an industry body said as it called on regulators to set out broad principles rather than precise rules, Reuters reports. Companies around the world...
  • James Murdoch, who is a non-executive director of Tesla, is said to be the frontrunner to take over as the electric carmaker’s chairman. Photo: Bloomberg

    James Murdoch in line to replace Musk as Tesla chairman: FT

    Oct 11, 2018 10:09am
    Outgoing Twenty-First Century Fox Inc Chief Executive James Murdoch is the lead candidate to replace Elon Musk as Tesla Inc chairman, the Financial Times reported on Wednesday, citing two people briefed on the discussions. But in...
  • Bitcoin’s popularity and the emergence of hundreds of other digital coins or tokens have drawn more hackers into the cryptocurrency space. Photo: Bloomberg

    Cryptocurrency theft tops US$900 mln in Jan-Sept: report

    Oct 11, 2018 9:31am
    Cryptocurrency theft through hacking of exchanges and trading platforms totaled US$927 million in the first nine months of this year, an increase of nearly 250 percent from the level seen in 2017, according to a US-based...
  • The bug, which affected WhatsApp applications on Apple and Android smartphones, was discovered in late August and was fixed by Facebook in early October. Photo: Reuters

    WhatsApp says it has fixed video call security bug

    Oct 11, 2018 9:14am
    Facebook Inc.’s WhatsApp messenger service said it has fixed the latest bug on its platform that allowed hackers to take over users’ applications when they answered an incoming video call, Reuters reports. The announcement follows reports...
  • Traders were spooked by rising US Treasury yields and fears of a deepening US-China trade conflict. Photo: Reuters

    Wall Street investors fret about a correction as stocks tumble

    Oct 11, 2018 8:38am
    The deepest one-day selloff in Wall Street stocks in eight months has investors using the market equivalent of a dirty word: “correction”. With traders spooked by rising US Treasury yields and fears of a deepening US-China...
  • CVS Health and Aetna said their combination would result in lower healthcare costs for consumers. Photo: Bloomberg

    CVS, Aetna win US approval for US$69 billion deal

    Oct 11, 2018 8:28am
    Pharmacy chain CVS Health Corp. won US antitrust approval for its US$69 billion acquisition of health insurer Aetna Inc., paving the way for a combination with potential to cut US healthcare costs for consumers, Reuters reports. The...
  • New devices for your living room: (clockwise, from left) Facebook's Portal, Google's Home Hub and Amazon's Echo Show. Photo: Reuters/AFP/Amazon

    Tech giants in three-cornered fight to conquer your home

    - Oct 10, 2018 1:01pm
    Facebook has launched a smart speaker that facilitates video calls at home, but it seems it has chosen the wrong time to bring such a product to the market. Following the Cambridge Analytica scandal early this...
  • Traders work on the floor of the New York Stock Exchange. Concerns surrounding rising interest rates again took center stage after US government debt yields hit highs not seen in more than seven years. Photo: Reuters

    The US Ten-Year shows the extent of the bond bubble

    - Oct 10, 2018 11:34am
    “Only when the tide goes out do you discover who’s been swimming naked.” – Warren Buffett  The US 10-year bond has reached, at the close of this article, a yield of 3.2 percent, the highest since...
  • Donald Trump speaks on the US-Mexico-Canada Agreement, or USMCA, in the Rose Garden of the White House in Washington on October 1. Photo: Bloomberg

    The new and not improved NAFTA

    - Oct 10, 2018 10:07am
    US President Donald Trump acts as if he has pulled off a smashing victory by replacing the North American Free Trade Agreement (NAFTA) – supposedly “the worst trade deal ever” – with the new United States-Mexico-Canada...
  • HNA is under pressure to cut its huge debt and restructure after a US$50 billion acquisition spree in recent years. Photo: Bloomberg

    HNA lists property assets worth US$11 billion for sale

    Oct 10, 2018 9:58am
    Chinese conglomerate HNA Group has put up for sale property assets worth at least US$11 billion, according to documents seen by Reuters, accelerating a push to cut its large debt and restructure. Two sets of documents...
  • SoftBank's investment in WeWork could be between US$15 billion and US$20 billion, the Wall Street Journal reported. Photo: Bloomberg

    SoftBank in talks to take majority stake in WeWork: WSJ

    Oct 10, 2018 9:43am
    Japan’s SoftBank Group Corp. is in talks to take a majority stake in shared office space provider WeWork Cos, in what would be one of the largest deals of the past decade’s startup boom, the Wall...
  • Google Pixel 3 and Pixel 3 XL smartphones sit on display during a launch event in New York on Tuesday. Photo: Bloomberg

    Google unveils new Pixel phones, tablet

    Oct 10, 2018 9:41am
    Google on Tuesday unveiled two new Pixel smartphones, a Google Home smart speaker with a display, and its first-ever tablet computer, signaling the firm’s growing ambitions to compete with tech rivals such as Apple and Amazon...
  • Schoolchildren pass by a self-driving GM Bolt electric vehicle during a media event in San Francisco last year. Photo: Reuters

    Self-driving cars may hit US roads in pilot program

    Oct 10, 2018 9:30am
    Fully self-driving cars may be on the fast lane to US roads under a pilot program the Trump administration said it was considering, which would allow real-world road testing for a limited number of the vehicles,...
  • Tesla's Model 3 achieved the top rating, five stars, under the safety ratings program of the US National Highway Traffic Safety Administration, along with several other vehicles. Photo: Reuters

    US agency says Tesla safety claim goes beyond its analysis

    Oct 10, 2018 9:07am
    Tesla Inc. claimed its Model 3 electric car has the lowest risk of occupant injury of any vehicle in US government tests, but the National Highway Traffic Safety Administration said the claim goes beyond the scope...
  • Jia Yueting has managed to secure financial backing from some of China's top property tycoons despite a patchy track record. Photo: Reuters

    Leshi boss makes property tycoons rue their investment decisions

    - Oct 10, 2018 9:03am
    There must be something special about Chinese entrepreneur Jia Yueting that enables him to keep finding financial backers one after another despite his poor record and appalling credit. Jia founded Leshi Internet Information and Technology in...
  • Under the General Data Protection Regulation, EU regulators have the power to impose fines of up to 4 percent of global revenue or 20 million euros (US$23 million), whichever is higher, for violations. Photo: Reuters

    First round of fines under new EU privacy law seen by year-end

    Oct 10, 2018 8:45am
    European regulators are set to exercise their new powers by handing out fines and even temporary bans on companies that breach a new EU privacy law, with the first round of sanctions expected by the end...
  • US President Donald Trump said China is not ready to reach a deal on trade. Photo: Reuters

    Trump repeats threat of more tariffs if China retaliates

    Oct 10, 2018 8:32am
    President Donald Trump repeated his threat to impose tariffs on US$267 billion worth of additional Chinese imports if China retaliates for the recent levies and other measures the United States has taken in the countries’ escalating...

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