Date
21 April 2019

Business

  • China will struggle to attain growth above 5 percent in the 2021-2030 period, for the simple reason that its workforce growth will have peaked. Photo: Xinhua

    The future of economic growth

    - Apr 12, 2019 10:41am
    Last month, I wrote about the growing divide between economic theory and real-world economic conditions, and reminded readers that economics is still a social science, despite whatever loftier ambitions its practitioners may have. Nonetheless, when it...
  • A SpaceX Falcon Heavy rocket, carrying the Arabsat 6A communications satellite, lifts off from the Kennedy Space Center in Cape Canaveral, Florida, on Thursday. Photo: Reuters

    Elon Musk’s SpaceX launches first commercial mission

    Apr 12, 2019 9:31am
    The most powerful operational rocket in the world, SpaceX’s Falcon Heavy, launched its first commercial mission from Florida in a key demonstration for billionaire entrepreneur Elon Musk’s space company in the race to grasp lucrative military...
  • LVMH said Chinese customers, who still mainly buy luxury items on overseas trips and who account for more than a third of the sector’s sales, were gradually spending more on the home turf. Photo: Bloomberg

    LVMH shares hit record high as China demand boosts luxury group

    Apr 12, 2019 9:18am
    LVMH shares hit a record high on Thursday and buoyed those of rivals after the Louis Vuitton owner posted strong first-quarter sales and said that demand for its handbags and high-end fashion had picked up in...
  • The G24 says it stands ready to cooperate in the effort to build 'a modern, open, rules-based, non-discriminatory and equitable multilateral trading system.' Photo: Bloomberg

    G24 ministers seek collective solution to trade tensions

    Apr 12, 2019 9:15am
    Top finance officials from emerging market economies on Thursday called for a collective global response to resolve ongoing trade tensions within a rules-based trading system, Reuters reports. In a communique from finance ministers of the so-called...
  • IMF Managing Director Christine Lagarde speaks at a news conference during the IMF and World Bank spring meetings in Washington on Thursday. Photo: Reuters

    IMF chief says Brexit delay averts ‘terrible outcome’

    Apr 12, 2019 9:06am
    The head of the International Monetary Fund said the six-month delay of Britain’s exit from the European Union avoids the “terrible outcome” of a “no-deal” Brexit that would further pressure a slowing global economy but does...
  • Uber had 91 million users but lost US$3.03 billion in 2018 from operations. Photo: Reuters

    Uber unveils IPO with warning it may never make a profit

    Apr 12, 2019 8:35am
    Uber Technologies Inc has 91 million users, but growth is slowing and it may never make a profit, the ride-hailing company said in its initial public offering filing, Reuters reports. The document gave the first comprehensive...
  • JD.com, led by founder and CEO Richard Liu, is battling fresh rumors of a large-scale staff retrenchment plan as it seeks to improve its financials. Photo: Bloomberg

    JD.com refutes talk that it may cut more than 12,000 jobs

    Apr 11, 2019 5:56pm
    Chinese e-commerce giant JD.com has refuted a media report that suggested that the company could cut more than 12,000 jobs in an operational restructuring exercise. Responding to a claim by a San Francisco-based tech news outlet...
  • A Dutch newspaper said the technology had been stolen by high-level Chinese employees at ASML’s research and development department and ultimately leaked to a company linked to the Chinese government. Photo: Reuters

    ASML falls victim to corporate theft, plays down impact

    Apr 11, 2019 4:40pm
    Dutch semiconductor equipment maker ASML Holding NV said on Thursday that a US software subsidiary was the victim of corporate theft several years ago, but denied that the information stolen was a blueprint for its lithography...
  • A decline on ad revenues has prompted Apple Daily to work toward a subscription model for the online business. Photo: Bloomberg

    Will Apple Daily succeed in its digital subscription move?

    - Apr 11, 2019 2:51pm
    After months of planning, Apple Daily on Wednesday officially kicked off a subscription model for the online editions of its Hong Kong and Taiwan newspapers, marking the first step in the efforts by the paper’s corporate parent,...
  • Workers sort cuts of fresh pork at a processing plant in Zhengzhou, Henan province.  Consumer inflation quickened as pork prices soared due to a growing epidemic of swine fever. Photo: Reuters

    China producer inflation picks up for first time in nine months

    Apr 11, 2019 12:11pm
    China’s factory-gate inflation picked up for the first time in nine months in March, edging away from deflationary territory, in a fresh sign that government efforts to boost the economy may be starting to revitalise domestic...
  • Over its 92-year history, the National Enquirer has enticed readers in supermarket checkout lines with sensational headlines and photos about celebrities. Photo: Reuters

    National Enquirer, feeling heat from own scandals, is for sale

    Apr 11, 2019 11:24am
    The owner of the National Enquirer said it is considering selling the tabloid, which has admitted to paying hush money to help US President Donald Trump get elected and has been accused of attempting to blackmail...
  • A Zhuhai government-backed entity has announced plans to sell most of its stake in appliances giant Gree Electric, marking a key step in China's efforts to bring ownership changes in key enterprises. Photo: Bloomberg

    Why state-backed parent’s stake sale in Gree is significant

    - Apr 11, 2019 10:41am
    Gree Electric Appliances Inc. of Zhuhai (000651.CN), the world’s largest residential air-conditioner maker, is one of the few successful state-owned enterprises (SOEs) in China. The company said on Tuesday that its largest shareholder, State-owned Assets Supervision and...
  • Amazon has increasingly automated its fulfillment centers with robots. Photo: AFP

    Amazon buys warehouse robotics startup Canvas Technology

    Apr 11, 2019 9:05am
    Amazon.com Inc has acquired Canvas Technology, a robotics startup in Boulder, Colorado, that has built autonomous carts that can move goods around warehouses, Reuters reports. An Amazon spokeswoman did not comment on the deal’s price tag...
  • Lyft will release its financial results for the first fiscal quarter ended March 31 after the market closes on May 7. Photo: AFP

    Lyft shares hit new low amid Uber IPO chatter

    Apr 11, 2019 8:59am
    Shares of recently listed Lyft Inc fell to a fresh low and closed down almost 11 percent on Wednesday on news that rival Uber Technologies Inc was close to filing its own initial public offering, Reuters...
  • US Treasury Secretary Steven Mnuchin said progress continues to be made in the trade talks. Photo: Bloomberg

    US, China to establish trade deal enforcement offices: Mnuchin

    Apr 11, 2019 8:49am
    US Treasury Secretary Steven Mnuchin said the United States and China have largely agreed on a mechanism to police any trade agreement they reach, including establishing new “enforcement offices”, Reuters reports. Mnuchin, speaking on CNBC television,...
  • The US Commerce Department will put entities on the “unverified” list if the organizations decline to answer questions about how US goods are used. Photo: Xinhua

    US puts 37 Chinese firms, schools on red-flag ‘unverified’ list

    Apr 11, 2019 8:37am
    The US Commerce Department is adding 37 Chinese companies and schools to a red-flag list of “unverified” entities that US companies should treat with caution, Reuters reports, citing a notice in the Federal Register. The list,...
  • Uber is reportedly seeking a valuation of between US$90 billion and US$100 billion, influenced by the poor performance of smaller rival Lyft’s shares following its IPO late last month. Photo: Bloomberg

    Uber to sell about US$10 billion worth of stock in IPO: report

    Apr 10, 2019 12:22pm
    Uber Technologies Inc has decided it will seek to sell around US$10 billion worth of stock in its initial public offering, Reuters reports, citing people familiar with the matter. An IPO of this size would make...
  • Morgan Stanley estimates that Apple's sales from healthcare-related products and services could reach US$313 billion by 2027. Photo: Bloomberg

    Apple eyes healthcare as growth engine

    - Apr 10, 2019 12:12pm
    On Monday, shares of Apple returned to the US$200 level for the first time since November last year, after Morgan Stanley predicted that the technology giant could become an important player in the healthcare sector and...
  • The US Department of the Treasury estimates that as much as US$300 billion is laundered domestically each year. Photo: AFP

    The West’s dirty financial laundry

    - Apr 10, 2019 11:04am
    The money-laundering scandals keep rolling in, most recently in Estonia, where a subsidiary of Danske Bank reportedly processed some 200 billion euros (US$225 billion) in suspicious payments from around the region in recent years. Nonetheless, the...
  • As web retailing evolves, it develops a need for retail space. Hong Kong's HKTVmall, for instance, now has 46 stores to help increase brand awareness and to serve as goods pick-up points for customers. Photo: Yahoo

    How web retailing boosts demand for logistics space

    - Apr 10, 2019 11:00am
    Like other modern economies, Hong Kong is seeing respectable growth in web retailing. For example, HKTVmall has now established itself as an online supermarket and vendor of various goods. According to the latest financial announcements, HKTVmall...

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