Date
23 February 2019

Business

  • Uber wants investors to focus on the solid growth in gross bookings rather than the continued net loss. Photo: Reuters

    Uber revenue up 43% in 2018 but profit remains elusive

    Feb 18, 2019 9:00am
    Uber Technologies announced on Friday global revenue of US$11.3 billion for 2018, up 43 percent from the prior year, but remained deep in the red even though it managed to reduce the losses. Losses before taxes,...
  • The GSMA warns that excluding certain vendors from the market could disrupt the supply of equipment, increase costs to operators and their customers, delay the rollout of 5G services and hobble existing networks. Photo: Reuters

    Telecoms industry calls for Europe-wide network testing regime

    Feb 15, 2019 5:20pm
    The telecoms industry has called on European governments to join mobile operators in establishing a testing regime to protect network security without having to resort to the disruptive step of excluding vendors from the market, Reuters...
  • Scout24’s management and supervisory board support the sweetened bid of 46 euros a share. Photo: Scout24

    US buyout firms offer 5.7 billion euros for Scout24

    Feb 15, 2019 5:16pm
    Hellman & Friedman and Blackstone have offered to buy online classifieds group Scout24 for 5.7 billion euros (US$6.4 billion), including debt, potentially the biggest takeover of a listed German company by private equity, Reuters reports. The...
  • A garment factory in Tiruppur, India. China's move up the value chain meant the relocation of low-end manufacturing into other Asian countries like Bangladesh, India and Vietnam. Photo: Bloomberg

    Digitalizing to create next generation supply chains in Asia

    - Feb 15, 2019 4:51pm
    At the vFORUM event in Hong Kong, I had the chance to discuss the topic “Good Technologists Solve Problems, Great Innovators Create Opportunities” with Iman Mak, Senior Vice President of Information Technology at multinational supply chain...
  • Twenty-three of the 50 richest people in Hong Kong saw their wealth fall in the past year due to multiple adverse factors, such as the softening of the local property market and China's economic slowdown. Photo: Bloomberg

    Almost half of HK’s 50 richest see wealth decline: Forbes

    Feb 15, 2019 3:04pm
    Tycoon Li Ka-shing, who retired as chairman of his business empire last year, has kept his top spot on the latest Forbes’ Hong Kong rich list despite a fall in his wealth, while oyster sauce tycoon...
  • If the Fed continues its current pace of shrinking its balance sheet, emerging markets may feel liquidity pressure again soon. Photo: Reuters

    Will global equities extend the recent rally?

    - Feb 15, 2019 12:28pm
    Hong Kong, emerging markets and the US have all seen equity markets moving up in the New Year, with the benchmark indexes gaining more than 9 percent. Stock markets have reversed the sluggish performance of the...
  • Demonstrators stage a protest against Amazon in the Long Island City section of the Queens borough of New York on Thursday. Photo: Reuters

    Feeling unwelcome, Amazon ditches plans for New York hub

    Feb 15, 2019 8:56am
    Amazon.com Inc. abruptly scrapped plans to build a major outpost in New York that could have created 25,000 jobs, blaming opposition from local leaders upset by the nearly US$3 billion in incentives promised by state and...
  • The US Federal Trade Commission has been investigating revelations that Facebook inappropriately shared information belonging to 87 million of its users with political consulting firm Cambridge Analytica. Photo: AFP

    Facebook may face multibillion-dollar fine over privacy: report

    Feb 15, 2019 8:19am
    The US government and Facebook Inc. are negotiating a settlement over the company’s privacy lapses that could require the online social network to pay a multibillion-dollar fine, the Washington Post reported on Thursday. The newspaper said...
  • Top US and Chinese officials hold trade negotiations at the Diaoyutai State Guesthouse in Beijing on Thursday. Photo: Reuters

    China offers to end market-distorting subsidies, won’t say how

    Feb 15, 2019 8:08am
    China has pledged to end market-distorting subsidies for its domestic industries but offered no details on how it would achieve that goal, Reuters reports, citing three people familiar with the US-China trade talks in Beijing this...
  • Amazon has launched a service that live-streams videos to help online sales. Photo: Reuters

    How Amazon Live takes a page from TV shopping channels

    - Feb 14, 2019 5:26pm
    US online shopping behemoth Amazon has launched a live shopping channel called Amazon Live. It’s a home-shopping streaming-video hub on the Amazon website and app that many consumers are probably still unaware of. There are three...
  • The A380, with two decks of spacious cabins and room for 544 people in standard layout, failed to take hold as airlines backed a new generation of smaller, more nimble jets. Photo: AFP

    Airbus to scrap production of A380 superjumbo

    Feb 14, 2019 2:15pm
    Europe’s Airbus announced plans to scrap production of the A380 superjumbo after years of lackluster sales, Reuters reports. The world’s largest airliner, with two decks of spacious cabins and room for 544 people in standard layout,...
  • After the successful spinoff of its Redmi brand, Xiaomi wants to reposition its Mi brand to get a slice of the premium market. Photo: Bloomberg

    Xiaomi seeks to tap premium market with Mi 9 launch

    - Feb 14, 2019 12:16pm
    Shares of Xiaomi Corp. (01810.HK) jumped more than 7 percent on Wednesday as investors cheered positive news concerning the company, including the upcoming launch of its latest smartphone model, the Mi 9, the successful rebranding of...
  • Commercial rents in Hong Kong are now the most expensive in the world. Photo: Bloomberg

    HK office rent tops globally, but demand remains supportive

    - Feb 14, 2019 11:47am
    Financial market performance has often been influenced by geopolitical events, such as the trade dispute between China and the United States last year. This brings additional volatility to an environment that is already grappling with several...
  • Some economists are concerned Japan's exports will weaken this year if the United States and China do not resolve their trade dispute. Photo: Reuters

    Japan economy grows 1.4% in fourth quarter

    Feb 14, 2019 10:31am
    Japan’s economy expanded in the fourth quarter as business and consumer spending recovered from natural disasters, Reuters reports. The 1.4 percent annualized expansion in October-December matched the median estimate in a Reuters poll. It followed a...
  • Reddit's large user base could offer an opportunity for Tencent as the Chinese internet giant seeks to internationalize its WeChat, mobile payment and gaming businesses. Photo: Reuters

    Why the Tencent-Reddit tie-up makes sense for both parties

    - Feb 14, 2019 10:26am
    Chinese internet giant Tencent Holdings (00700.HK) is buying a stake in Reddit, one of America’s top free-speech forums. The deal has stoked fears among Reddit users about potential censorship and breach of user privacy. Established in...
  • Globalization has enabled large multinationals such as Apple, Google and Starbucks to avoid paying tax. Photo: AFP, Reuters, Bloomberg

    How can we tax footloose multinationals?

    - Feb 14, 2019 10:13am
    In the last few years, globalization has come under renewed attack. Some of the criticisms may be misplaced, but one is spot on: globalization has enabled large multinationals, like Apple, Google, and Starbucks, to avoid paying...
  • Senior Nestle executives pose for photographers at the firm’s headquarters in Vevey, Switzerland on Wednesday after a news conference to announce that the company will begin selling Starbucks-branded coffee at grocery stores in some markets. Photo: Reuter

    Nestle to sell Starbucks coffee under US$7.15 bln deal

    Feb 14, 2019 9:28am
    Nestle will sell Starbucks-branded coffee at grocery stores and online in Europe, Asia and Latin America from this month, Reuters reports. Following a US$7.15 billion cash deal last year for exclusive rights to sell the US...
  • Apple's former top corporate lawyer is alleged to have misused his position to trade illegally in company stock ahead of earnings announcements. Photo: Reuters

    US charges former top Apple lawyer with insider trading

    Feb 14, 2019 9:14am
    A former top corporate lawyer at Apple was criminally charged by the US Department of Justice on Wednesday with insider trading, Reuters reports. Gene Levoff exploited his positions as corporate secretary, head of corporate law and...
  • Imerys and Johnson & Johnson have repeatedly denied allegations that their products could cause cancer, saying numerous studies and tests by regulators worldwide have shown their talc to be safe. Photo: Reuters

    Johnson & Johnson supplier seeks bankruptcy amid talc lawsuits

    Feb 14, 2019 9:06am
    A key supplier of talc used in Johnson & Johnson’s baby powder filed for Chapter 11 bankruptcy in the wake of multibillion-dollar lawsuits alleging its products caused ovarian cancer and asbestos-related mesothelioma, Reuters reports. Imerys Talc...
  • With the new investment, Google will now be in 24 out of the 50 states in the United States. Photo: AFP

    Google to spend over US$13 billion on US data centers, offices

    Feb 14, 2019 8:58am
    Alphabet Inc.’s Google said it will spend more than US$13 billion on data centers and offices in the United States this year, Reuters reports. “These new investments will give us the capacity to hire tens of...

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