Business and Tech

US suspends 44 passenger flights to China operated by Chinese carriers

AFP - 14h ago

The United States announced Friday that it was suspending 44 Chinese passenger flights from America to the Asian giant …

US stocks fall again, sending Nasdaq nearer to dreaded 'bear' market

AFP - 17h ago

Wall Street stocks tumbled again Friday following a plunge in Netflix shares that sent the Nasdaq further into …

Netflix sinks as Wall Street flees 'stay-at-home' stocks

Jan 21 2022

One day after shares of at-home fitness company Peloton tumbled, Netflix found itself in Wall Street's hot seat Friday …

Chile's president-elect unveils young, woman-majority cabinet

Jan 21 2022

Chile's leftist president-elect Gabriel Boric, whose victory at the polls last month unsettled the markets, on Friday …

Airbus cancels Qatar Airways plane order in feud

Jan 21 2022

Airbus has taken the extraordinary step of cancelling a multi-billion-dollar order of 50 planes from Qatar Airways, a …

Five do battle for top UN labour job

Jan 21 2022

Five candidates battling to take the helm of the United Nations' labour agency completed two days of hearings Friday …

Biden hails Intel's $20 bn chip plant investment amid shortage

Jan 21 2022

President Joe Biden on Friday praised Intel's plans to spend $20 billion on a new US semiconductor facility, hailing the …

Gas giants' Myanmar exit unlikely to badly damage junta: analysts

Jan 21 2022

The exit of energy titans TotalEnergies and Chevron from Myanmar's billion dollar gas industry has been hailed by rights …

Intel to spend $20 bn on US chip plants amid shortage

Jan 21 2022

US semiconductor giant Intel on Friday announced a $20 billion investment to build two new semiconductor plants in Ohio, …

Reserve Bank chief will be Chile's new finance minister

Jan 21 2022

Chile's leftist president-elect Gabriel Boric, whose victory at the polls last month unsettled the markets, on Friday …

Total, Chevron to exit Myanmar amid rights abuses

Jan 21 2022

Energy giants TotalEnergies and Chevron said Friday they would leave Myanmar following pressure from human rights groups …

UK retail sales suffer record drop on Omicron fears

Jan 21 2022

British retail sales suffered a record drop in December as consumers shunned the high street due to Omicron concerns, …

TotalEnergies to leave Myanmar over human rights abuses

Jan 21 2022

French oil giant TotalEnergies said Friday it would withdraw from Myanmar over "worsening" human rights abuses since …

US extends protection of Venezuelan oil unit Citgo

Jan 21 2022

The US Treasury on Thursday extended by one year a rule that shields Citgo, a US-based unit of Venezuela's state-owned …

In Texas, driverless trucks are set to take over roads

Jan 21 2022

A giant 18-wheel transport truck is barreling down a multi-lane Texas highway, and there is no one behind the wheel.

US charges Belarus officials with air piracy over Ryanair flight diversion

Jan 21 2022

The US Justice department charged four Belarus officials with air piracy Thursday for last year's forced diversion of a …

Netflix stung by slowing subscriber growth

Jan 21 2022

Netflix on Thursday reported cooling subscriber growth as fierce competition and the pandemic weigh heavy despite hits …

US inflation spike also due to generous pandemic stimulus

Jan 20 2022

President Joe Biden blames global supply snarls for the wave of price increases hitting US consumers and businesses, but …

Netflix growth in recent quarter slightly misses mark

Jan 20 2022

Netflix on Thursday reported falling short of estimates on new subscribers, and predicted slower growth in 2022 as …

US stocks fall for 3rd straight day as rally fizzles

Jan 20 2022

US stocks sank again Thursday as investors shunned equities amid lingering worries over surging global inflation and the …

US airlines hopeful for post-Omicron 2022 after Q4 losses

Jan 20 2022

Major US carriers stumbled through another money-losing quarter at the end of the 2021 but remain confident of a travel …

Serbia backs out of controversial Rio Tinto lithium mine: PM

Jan 20 2022

Serbian authorities have abandoned plans to build a controversial lithium mine, the prime minister said Thursday, …

Amazon to open Los Angeles clothing store, in first

Jan 20 2022

Amazon's online commerce empire is taking another step into the real world with plans announced Thursday to open a shop …

US lawmakers advance Big Tech competition bill

Jan 20 2022

A US Senate panel endorsed legislation Thursday that would block tech giants from prioritizing their products over those …

Fed says central bank digital dollar could offer benefits

Jan 20 2022

An official US digital currency could offer potential benefits to American consumers and businesses, but it is not clear …

Stocks rebound after Nasdaq 'correction'

Jan 20 2022

US and European equities mostly moved higher on Thursday, rebounding following a bad day for tech shares as investors …

Tears for Virgil Abloh at posthumous Paris show

Jan 20 2022

There were tears on the catwalk on Thursday as the final Louis Vuitton show by US designer Virgil Abloh, whose death …

US existing home sales end banner year with slump

Jan 20 2022

The US real estate market last year saw the most existing homes sold in 15 years, even as sales slumped in the final …

Russia's central bank calls for crypto crackdown

Jan 20 2022

The Russian central bank proposed Thursday cracking down on cryptocurrencies, a move which if adopted could disrupt the …

European stocks waver after Nasdaq 'correction'

Jan 20 2022

European stock markets wavered Thursday following a bad day for US tech shares as investors remain nervous about surging …

Turkey halts four-month streak of rate cuts

Jan 20 2022

Turkey's central bank on Thursday bowed to market pressure and halted a four-month streak of interest rate cuts that saw …

American Airlines suffers loss as Omicron clouds outlook

Jan 20 2022

American Airlines reported another quarterly loss Thursday after the latest Covid-19 surge dented demand at the end of …

Late designer Virgil Abloh's 'emotional' last show hits Paris

Jan 20 2022

Louis Vuitton presented the final collection by path-breaking designer Virgil Abloh at Paris Fashion Week on Thursday, …

Google spars with EU activists after Austria data defeat

Jan 20 2022

A years-long saga over tech firms transferring data from Europe to the US re-erupted on Thursday, days after Austrian …

Da Vinci should grace new euro notes, says Lagarde

Jan 20 2022

European Central Bank chief Christine Lagarde suggested Thursday that Renaissance master Leonardo da Vinci and …

European stocks mostly fall after Wall Street losses

Jan 20 2022

European stock markets mainly fell Thursday with sentiment jarred by sliding shares on Wall Street, which was rocked by …

Beijing Olympics organisers say app security flaws 'fixed'

Jan 20 2022

An app that Winter Olympics attendees must use has been patched, a Chinese official told AFP Thursday, after cyber …

Emirates to resume US flights after 'temporary' 5G reprieve

Jan 20 2022

Emirates said Thursday it will lift a suspension of flights to several US destinations in a "temporary reprieve" after …

French court says Twitter must reveal measures on online hate

Jan 20 2022

A Paris court on Thursday ruled that Twitter must reveal its measures for fighting hate speech, in one of several cases …

Amazon may quit African HQ deal if blocked, Cape Town court hears

Jan 20 2022

Online retail giant Amazon could pull out of a deal to create its Africa headquarters in Cape Town, if a legal challenge …

Asia bucks Wall St plunge as China rate cut helps property sector

Jan 20 2022

Markets mostly rose Thursday in Asia as investors tentatively returned to buying after recent losses, with Chinese …

5G launches in US without huge impact on flights

Jan 20 2022

Telecom giants AT&T and Verizon began 5G service in the United States Wednesday without major disruptions to flights …

China cuts lending rates, boosting property firms

Jan 20 2022

China further reduced bank lending costs Thursday in the latest move to boost its stuttering economy, providing some …

Asian markets mostly up, China rate cut helps property sector

Jan 20 2022

Markets mostly rose Thursday in Asia as investors tentatively returned to buying after recent losses, with Chinese …

Unilever won't up £50 bn offer for GSK-Pfizer unit

Jan 20 2022

Consumer goods giant Unilever on Wednesday said it would not increase a £50-billion offer for the consumer healthcare …

World Bank chief contrasts Microsoft deal with poor countries' debt

Jan 20 2022

After Microsoft announced it would spend tens of billions of dollars to buy a video game company, World Bank President …

US stocks tumble again as oil prices reach multi-year highs

Jan 19 2022

Wall Street stocks tumbled again Wednesday following a volatile session as markets grapple with the prospect of higher …

United Airlines reports Q4 loss on latest Covid-19 drag

Jan 19 2022

United Airlines reported another quarterly loss Wednesday on the lingering drag from Covid-19 but offered an upbeat …

Wall Street ends lower amid rising oil prices

Jan 19 2022

US stocks reversed course in Wednesday's trading session, ending lower for the second day amid rising oil prices and …

Greece takes delivery of Rafale jets from France

Jan 19 2022

Greece on Wednesday received six Rafale jets from France in a multi-billion-euro arms deal which Athens and Paris claim …

UK inflation hits decades high in cost-of-living squeeze

Jan 19 2022

The annual rate of inflation in Britain rose to a near 30-year high in December, official data showed Wednesday, stoking …

Libya oil company chief appeals for state investment

Jan 19 2022

The powerful head of Libya's National Oil Corporation on Wednesday decried a lack of state investment in the country's …

European stocks climb despite rate-hike fears; oil extends rally

Jan 19 2022

European stock markets rose Wednesday but Wall Street continued its slide lower on concerns about interest rate hikes.

Microsoft muscles in on first wave of the metaverse

Jan 19 2022

US tech giant Microsoft's $69 billion purchase of Activision this week rocked the video game sector, but the deal may …

Retirements common factor in US, UK labor shortage: IMF

Jan 19 2022

An exodus of older workers is the "common thread" behind the baffling labor shortages faced by companies in the United …

French champagne houses toast record sales

Jan 19 2022

French champagne sales rebounded last year to reach a record 5.5 billion euros ($6.2 billion) as demand soared despite …

Omicron will pinch, not derail US economic growth: Yellen

Jan 19 2022

The latest coronavirus variant will weigh on US economic growth in the months ahead but will not derail it, Treasury …

US tycoon opens Africa's first start-to-finish Covid-19 jab plant

Jan 19 2022

US biotech billionaire Patrick Soon-Shiong on Wednesday opened a plant in Cape Town that will be the first in Africa to …

Stocks climb despite rate-hike fears; oil extends rally

Jan 19 2022

European and US stock markets rose Wednesday, with easing Omicron virus concerns eclipsing fresh fears of monetary …

P&G profits up on strong consumer demand, higher pricing

Jan 19 2022

Procter & Gamble raised its full-year forecast Wednesday as robust consumer demand enabled the company to notch higher …

Europe stocks climb despite rate-hike fears; oil extends rally

Jan 19 2022

Europe's stock markets rose Wednesday, with easing Omicron virus concerns eclipsing fresh fears of monetary policy …

Millionaires make unusual plea: 'Tax us now'

Jan 19 2022

More than 100 millionaires made an unusual plea on Wednesday: "Tax us now".

Israel probes alleged Pegasus use to spy on citizens

Jan 19 2022

Israel's justice minister on Wednesday pledged a full investigation into allegations that the controversial Pegasus …

AT&T, Verizon agree to delay 5G implementation at some airports

Jan 19 2022

AT&T and Verizon agreed Tuesday to a partial delay in activating their 5G networks to allay airline safety concerns but …

Asian markets track Wall St losses as crude extends latest rally

Jan 19 2022

Growing fears about the US Federal Reserve's plans to fight surging inflation by ramping up interest rates hit Asian …

Millionaires join non-profits in wealth tax appeal

Jan 19 2022

A wealth tax on the world's richest people could raise at least $2.52 trillion per year, enough to fund Covid vaccines …

Microsoft's acquisition of Activision to face antitrust test

Jan 19 2022

Microsoft's $69 billion deal to buy video game powerhouse Activision Blizzard is expected to win out with regulators …

Pakistan's economic woes put PM Khan's future in doubt

Jan 19 2022

Housewife Maira Tayyab has considered begging for money to feed her family in inflation-hit Pakistan, while shop owner …

'Game changer' e-moped batteries spread from Taiwan across Asia

Jan 19 2022

Every day, Aiden Lee joins the hundreds of thousands of people getting around Taipei on two wheels.

Tension in Spain over use of EU recovery funds

Jan 19 2022

The Spanish government is increasingly under fire over its use of the European Union's massive economic recovery funds, …

Microsoft-Activision deal: Key things to know

Jan 19 2022

Microsoft on Tuesday unveiled its big-ticket plans to buy US video game powerhouse Activision Blizzard, a …

Mandatory Chinese Olympics app has 'devastating' encryption flaw: analyst

Jan 19 2022

An app all attendees of the upcoming Beijing Olympics must use has encryption flaws that could allow personal …

Judge OKs adjustment plan to end Puerto Rico bankruptcy

Jan 19 2022

A federal judge on Tuesday approved a plan to restructure Puerto Rico's public debt, which will allow the US territory …

Kellogg's falls foul of Mexico sugar labeling rules

Jan 18 2022

US cereal giant Kellogg's has been sanctioned by the Mexican authorities for breaking sugar and other content labeling …

Bobby Kotick: Embattled Activision CEO faces uncertain future

Jan 18 2022

Activision Blizzard CEO Bobby Kotick built a video game empire with flagship titles like "World of Warcraft", but he …

Oil hits seven-year highs on recovery hopes, unrest

Jan 18 2022

Oil prices hit their highest levels in more than seven years Tuesday, driven in part by hopes of a global economic …

ExxonMobil targets 'net zero' emissions at operations by 2050

Jan 18 2022

ExxonMobil pledged Tuesday to reach "net zero" greenhouse gas emissions in its operations by 2050, but stopped short of …

Microsoft to buy gaming giant Activision Blizzard for $69 bn

Jan 18 2022

Microsoft on Tuesday announced a landmark $69 billion deal to buy US gaming giant Activision Blizzard, betting big on …

World tourism won't return to pre-pandemic levels until 2024: UN

Jan 18 2022

Tourism arrivals around the world are not expected to return to their pre-pandemic levels until 2024 at the earliest, …

AT&T agrees to delay 5G implementation at some airports

Jan 18 2022

AT&T will delay activating its 5G network on a "limited number of towers" near some airport runways following warnings …

Activision Blizzard: Troubled powerhouse in gaming world

Jan 18 2022

Activision Blizzard is a star developer of gaming hits like "Call of Duty", but the firm has been roiled by serious sex …

Oil hits 7-year highs on recovery hopes, unrest

Jan 18 2022

Oil prices traded at the highest levels in more than seven years Tuesday, in part on hopes of a global economic recovery …

IMF risks losing legitimacy over Argentina loan: minister

Jan 18 2022

Argentina's economy minister, renegotiating a massive loan with the International Monetary Fund, warned the lender …

Microsoft to buy US gaming giant Activision-Blizzard for $69 bn

Jan 18 2022

Microsoft announced Tuesday a landmark $69 billion deal to purchase US gaming giant Activision Blizzard, grabbing the …

Poland, Hungary resist EU's corporate minimum tax push

Jan 18 2022

The EU's effort to implement an internationally agreed minimum tax on big multinationals was met with opposition by …

Indonesia passes law paving way for capital's move to Borneo

Jan 18 2022

Indonesia's parliament on Tuesday passed a law approving the relocation of its capital from slowly sinking Jakarta to a …

Toyota yearly production target hit by chip shortage

Jan 18 2022

The world's top-selling carmaker Toyota said Tuesday it no longer expects to meet its annual production target with …

Crude hits 7-year high on recovery hope but equity rally runs out

Jan 18 2022

Crude oil hit a more than seven-year high Tuesday on optimism the global recovery will ramp up demand, but concerns …

UK jobs picture robust as Omicron struck

Jan 18 2022

Britain's unemployment rate dropped and payrolls recovered further at the end of last year despite the onset of the …

Chip crisis pushes European car sales to new low

Jan 18 2022

EU car sales fell to a new low last year as the auto sector was hobbled by the Covid pandemic and a shortage of computer …

Brent hits 7-year high on recovery hope but equity rally runs out

Jan 18 2022

Brent crude hit a more than seven-year high Tuesday on optimism the global recovery will ramp up demand, but concerns …

Asian markets rise, Brent at highest since 2014 on recovery hope

Jan 18 2022

Most Asian equities rallied Tuesday and Brent crude hit a more than seven-year high as optimism over the global recovery …

US airlines warn of 'calamity' if 5G deployed near airports

Jan 18 2022

The chief executives of America's largest airlines warned of a "catastrophic disruption" to travel and shipping …

Activision says it fired dozens over harassment allegations

Jan 18 2022

The video game giant Activision Blizzard said Monday it has fired nearly 40 employees and disciplined more than 40 …

UN agency finishes report on flight diverted to Belarus

Jan 18 2022

The report about the investigation into a Ryanair flight that was diverted to Belarus last year is complete, the …

US airlines warn of 'chaos' if 5G not limited near airports: letter

Jan 17 2022

The chief executives of America's largest airlines warned ahead of Wednesday's 5G service rollout that the technology …

UK freezes BBC funding for two years

Jan 17 2022

The UK government came under fire on Monday for freezing the BBC licence fee, with critics accusing it of a politically …

UK govt freezes BBC funding for two years

Jan 17 2022

The UK government on Monday announced a freeze of the BBC licence fee, arguing a new funding model was needed to ease …

Activision fired dozens over harassment allegations: WSJ

Jan 17 2022

The video game giant Activision Blizzard has fired nearly 40 employees and disciplined about 40 others since July as it …

Credit Suisse chief quits over Covid rules breach

Jan 17 2022

The chairman of Credit Suisse resigned Monday over Covid quarantine violations, leaving the bank's new risk committee …

European stocks rise tracking big corporate news, China growth

Jan 17 2022

European stock markets climbed on Monday as China's unexpectedly muted growth slowdown and optimism over the impact of …

Police charge Cathay flight attendants at centre of Hong Kong outbreak

Jan 17 2022

Hong Kong police arrested and charged Monday two Cathay Pacific flight attendants for allegedly contravening Covid …