Date
16 July 2019

Business

  • White House economic adviser Larry Kudlow said there is no magic way to reach what has so far been an elusive deal. Photo: Bloomberg

    US, Chinese negotiators hold ‘constructive’ phone talks on trade

    Jul 10, 2019 8:59am
    US and Chinese trade officials held a “constructive” phone conversation on Tuesday, White House economic adviser Larry Kudlow said, marking a new round of talks after the world’s two largest economies agreed to a truce in...
  • Boeing's deliveries have suffered from the prolonged grounding of its best-selling MAX jets. Photo: AFP

    Boeing to lose biggest planemaker title as deliveries fall 37%

    Jul 10, 2019 8:31am
    Boeing Co. is set to lose the title of being the world’s biggest planemaker after reporting a 37 percent drop in deliveries for the first half of the year due to the prolonged grounding of its...
  • With the acquisition of Red Hat, IBM looks to ramp up its cloud computing business. Photo: Bloomberg

    IBM closes US$34 billion deal to buy Red Hat

    Jul 10, 2019 8:09am
    International Business Machines Corp. said it has closed its US$34 billion acquisition of software company Red Hat Inc., as it looks to ramp up its cloud computing business, Reuters reports. Underscoring the drive into high-margin businesses,...
  • Japan's Prime Minister Shinzo Abe appears to be using restrictions on exports to South Korea as a leverage, days before a parliamentary election. Photo: CNSA

    Japan, South Korea raise stakes in dispute over forced labor

    Jul 10, 2019 7:45am
    Japan and South Korea have raised the stakes in a dispute that threatens to disrupt global supplies of smartphones and chips, with South Korea denouncing Japanese reports it had transferred a sensitive chemical to North Korea,...
  • Richard Branson wants to cash in on burgeoning demand for space travel. Photo: AFP

    Richard Branson’s Virgin Galactic to go public by year-end

    Jul 10, 2019 7:32am
    British billionaire Richard Branson will take Virgin Galactic public by year-end, giving it the much-needed funds to take on Jeff Bezos’ Blue Origin in the race to space, Reuters reports. The company will list its shares...
  • Suncity said it doesn't operate any online gaming business and all its operations are permitted under local government regulations. Photo: Reuters

    Suncity linked to online gaming in state media report

    Jul 9, 2019 2:34pm
    Macau’s biggest junket operator Suncity, which operates VIP gambling rooms around Asia, has raked in billions of dollars in online gaming and proxy betting, causing great harm to China’s social economic order, a state-backed report said....
  • Demand for independent news has increased amid the raging political crisis. Photo: Reuters

    Why half a million readers subscribed to Apple Daily Online

    - Jul 9, 2019 1:21pm
    The current political crisis has highlighted the need to keep the flames of press freedom and free speech burning in Hong Kong. An informed citizenry is the best protection against efforts to erode our rights and freedoms....
  • Moutai is one of the very few consumer-oriented companies in China that do not have to worry about the inventory issue. Photo: Bloomberg

    Why Kweichow Moutai’s baijiu operation is such a good business

    - Jul 9, 2019 10:36am
    Kweichow Moutai is definitely a star performer in China’s domestic equity market. However, some investors keep complaining about its high valuation. Moutai’s 30 times price earnings look expensive, but not really if one looks at the...
  • The securities regulator has given the go-ahead for 25 companies to list on the STAR Market. Photo: China Daily/Reuters

    Nine firms set prices for IPOs on China’s Nasdaq-style board

    Jul 9, 2019 10:03am
    Nine Chinese companies, among the first to list on China’s Nasdaq-style tech board, announced prices of their new share offer on Tuesday, as investors braced for a busy week for initial public offerings (IPOs), Reuters reports....
  • Donald Trump has accused Facebook, Google and Twitter of being 'on the side of the Radical Left Democrats'. Photo: Reuters

    Facebook not invited to White House social media summit

    Jul 9, 2019 9:28am
    Facebook said on Monday that it has not been invited to a White House summit on social media being held later this week, Reuters reports. The White House has repeatedly declined to say who will attend...
  • Samsung Electronics is seeking to buy more of the materials it needs for making semiconductors from other countries like Taiwan or China. Photo: AFP

    South Korea chipmakers, suppliers scramble to bypass Tokyo curbs

    Jul 9, 2019 9:06am
    South Korean chipmakers and Japanese chemical suppliers caught in the midst of a sudden escalation of a bilateral diplomatic dispute are scrambling to circumvent tightened export controls imposed by Tokyo, Reuters reports, citing industry executives. Japan...
  • China Merchants Bank said the mistakes in relevant transactions “had gone through friendly negotiations and were corrected based on normal market rates” with its counterparty. Photo: Bloomberg

    Ping An Bank, China Merchants Bank traders suspended

    Jul 9, 2019 8:42am
    China’s central bank said it has suspended some traders at Ping An Bank and China Merchants Bank for a year for involvement in “abnormal” trades, Reuters reports. The People’s Bank of China (PBoC) has required the...
  • Waymo seeks to persuade passengers that its ride service is less stressful than driving their own cars or riding with its rivals. Photo: Bloomberg

    Waymo tests Wi-Fi in driverless taxis

    Jul 9, 2019 8:16am
    Waymo is rolling out amenities to entice riders to use its self-driving taxis, creating a potential route to profitability in a money-losing industry, Reuters reports. The Alphabet Inc. subsidiary is testing complimentary Wi-Fi in its robotaxis...
  • Geoffrey Berman, US attorney for the Southern District of New York, points to a photograph of Jeffrey Epstein as he announces the filing of charges against the financier on Monday. Photo: Reuters

    Financier Epstein pleads not guilty to sex trafficking charges

    Jul 9, 2019 8:14am
    American financier Jeffrey Epstein pleaded not guilty to charges of sex trafficking as prosecutors accused him of luring dozens of girls as young as 14 to his luxury homes in New York and Florida and paying...
  • A man sweeps the floor at a Deutsche Bank office in London on Monday. Photo: Reuters

    Deutsche Bank careers end in an envelope, a hug and a cab ride

    Jul 9, 2019 7:43am
    Summoned by HR to be handed an envelope, many Deutsche Bank staff across the world then left their desks for the last time on Monday, shown the door by their German employer within hours of a...
  • Vice President Wang Qishan speaks at the World Peace Forum at Tsinghua University in Beijing on Monday. Photo: Reuters

    World cannot shut China out, Vice President Wang says

    Jul 9, 2019 7:31am
    China and the rest of the world must co-exist, Vice President Wang Qishan said, in an indirect jab at the United States, Reuters reports. Top representatives of the world’s two biggest economies are trying to resume...
  • Tableau’s Chief Technology Officer Andrew Beers (R) and the firm’s head of Greater China operations Thomas Yap (L) say their company aims to promote a data-driven culture among enterprises and individuals. Photos: Tableau

    Building community crucial to data platform success: Tableau

    - Jul 8, 2019 5:47pm
    US-based analytics platform Tableau (NYSE: DATA), which offers data visualization and analytics software that it says are easy enough for non-technical people to use, opened an office in Hong Kong last month. The facility, which is...
  • Volkswagen is retooling 16 factories to build electric vehicles and plans to start producing 33 different electric cars under the Skoda, Audi, VW and Seat brands by mid-2023. Photo: Reuters

    VW to deepen alliances with battery suppliers for electric push

    Jul 8, 2019 3:51pm
    Volkswagen will create joint ventures and help finance battery production to persuade skeptical cell suppliers to back its aggressive push for mass producing electric vehicles, Reuters reports, citing board member Stefan Sommer. VW has said it...
  • The PBoC is more likely to follow any US rate cut by lowering its key short-term money market rates, analysts said. Photo: Bloomberg

    Fed easing could prompt China rate cut: analysts

    Jul 8, 2019 3:28pm
    China’s central bank could cut its benchmark policy rate for the first time in four years if the US Federal Reserve delivers a widely expected cut in late July, analysts say, as Chinese policymakers step up...
  • The proposed penalty on British Airways is equivalent to 1.5 percent of its worldwide turnover for 2017. Photo: Reuters

    British Airways faces US$230 million fine over data theft

    Jul 8, 2019 3:13pm
    British Airways owner IAG said on Monday the UK Information Commissioner’s Office (ICO) intends to impose a penalty of 183.4 million pounds (US$229.8 million) for the theft of customer data from the airline’s website last year,...

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