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6181 - 6190 from 16550 . In "BUSINESS"
Cathay Pacific has warned staff they risk being sacked if they join a planned Hong Kong strike.
Cathay warns staff face sack if they join Hong Kong strike
HONG KONG — Cathay Pacific has warned staff they risk being sacked if they join a planned Hong Kong strike, as the airline intensifies its crackdown on employee support for the rolling pro-democracy protests.Hong Kong's flagship carrier, which has 27,000 staff in the city, has been accused of bowing to political pressure from China, whose aviation regulator has banned airline staff who have supported the demonstrations from working on flights through its airspace.In an internal memo to staff, a Cathay director, Tom Owen, said participating in a strike planned for Monday and Tuesday could constitute a breach of contract."We expect all of our employees to report for work as normal and over this period and will be monitoring attendance levels closely," he said in the memo, a...
August 30, 2019

Cathay warns staff face sack if they join Hong Kong strike

Auto
Auto companies in India cut more jobs, halt production to tackle slowdown
NEW DELHI — With India's auto sales declining for the ninth straight month in July, more automotive manufacturers are laying off workers and temporarily halting production to keep costs in check, according to sources and documents seen by Reuters.Japanese carmaker Toyota Motor and South Korea's Hyundai Motor are the latest in a string of companies to briefly halt some parts of production at plants to combat slumping sales, according to company memos to employees, reviewed by Reuters.Passenger vehicle sales in July fell at the fastest pace in nearly two decades. The sales declines have triggered major job cuts in India's auto sector, with many companies forced to shut down factories for days and ax shifts.Sources have told Reuters that even more companies have now begun to lay...
August 30, 2019

Auto companies in India cut more jobs, halt production to tackle slowdown

In this file photo, attendees visit a Huawei exhibition stand during the Consumer Electronics Expo in Beijing. Huawei's upcoming flagship Mate 30 smartphone will launch next month without key Google apps, creating a disadvantage for the Chinese tech giant hit by US sanctions. — AFP
New Huawei handset to launch without Google apps
SAN FRANCISCO — Huawei's upcoming flagship Mate 30 smartphone will launch next month without key Google apps, creating a disadvantage for the Chinese tech giant hit by US sanctions.A Google spokesperson confirmed Thursday that the California firm won't be able to deliver licensed applications such as Gmail, Maps and YouTube for the new device because of sanctions imposed by President Donald Trump.As a result, Huawei will be able to pre-load only the open-source Android operating system.The move could be another hit for Huawei, the tech powerhouse that became the number two global smartphone vendor before sanctions imposed by Washington over national security concerns, which prevent the export of US technology.While the US administration has granted a fresh 90-day suspension of...
August 30, 2019

New Huawei handset to launch without Google apps

Newly appointed Argentina's Economy Minister Hernan Lacunza attends a news conference at the Casa Rosada Presidential Palace in Buenos Aires, Argentina. — Reuters
Peso falls further as Argentina readies IMF debt restructure
BUENOS AIRES — Argentina's beleaguered currency continued its freefall Thursday, after the government asked the International Monetary Fund to restructure a $57 billion bail-out loan agreed last year.The peso was trading at 62.33 to the dollar early Thursday, 3.5 percent lower than at Wednesday's close.Center-right President Mauricio Macri had called on investors for calm ahead of the opening of the markets Thursday. "It's in our hands to contribute to tranquility without generating fears or bewilderment," the president said during a speech to shipyard workers.Finance Minister Hernan Lacunza announced on Wednesday that the government had asked the IMF to restructure its repayments on the $56 billion in a bid to calm market turbulence.Following the announcement, the...
August 30, 2019

Peso falls further as Argentina readies IMF debt restructure

In this file photo an iPhone 6S is plugged into a battery charger in Washington,DC. Apple sent out invitations on Thursday to a September 10 event at its Silicon Valley campus where it is expected to unveil a new-generation iPhone. In its trademark, tight-lipped style, Apple disclosed little about what it plans to spotlight in the Steve Jobs Theater at its headquarters in the city of Cupertino. — AFP
Apple expected to unveil new iPhone at Sept. 10 event
San Francisco — Apple sent out invitations on Thursday to a Sept. 10 event at its Silicon Valley campus where it is expected to unveil a new-generation iPhone.In its trademark, tight-lipped style, Apple disclosed little about what it plans to spotlight in the Steve Jobs Theater at its headquarters in the city of Cupertino.For years now, Apple has hosted events in the fall to launch new iPhone models ahead of the Christmas holiday shopping season.Introduction of "iPhone 11" handsets would come as the global smartphone market tightens and Apple makes a priority of selling digital content and services to fans of its hardware.In another development, Apple Inc said on Thursday it will begin selling parts, tools and repair guides to independent shops to fix broken iPhones, a major...
August 29, 2019

Apple expected to unveil new iPhone at Sept. 10 event

Lagarde
Lagarde signals plan to stick to Draghi's ECB expansionary path
FRANKFURT AM MAIN — The ECB's next chief Christine Lagarde signaled Thursday that she would stick to Mario Draghi's expansionary monetary policy that has propped up the eurozone economy amid growing risks to growth.In a written reply to queries from the European Parliament, Lagarde underlined that inflation has remained stubbornly low in the bloc while growth was stalling."It is therefore clear that monetary policy needs to remain highly accommodative for the foreseeable future. The ECB has a broad tool kit at its disposal and must stand ready to act," she wrote.Over his eight years in office, the ECB's incumbent chief Draghi has brought interest rates to record lows and unleashed billions in quantitative easing to ward off the threat of deflation and drum up...
August 29, 2019

Lagarde signals plan to stick to Draghi's ECB expansionary path

German Economy Minister Peter Altmaier delivers a speech at the MEDEF union summer forum renamed La Rencontre des Entrepreneurs de France, LaREF, at the Paris Longchamp Racecourse in Paris, France, on Wednesday. — Reuters
German minister eyes tax cuts for 'Mittelstand' as economy cools
BERLIN — Taxes would be cut for Germany's Mittelstand, the small and medium-sized businesses that form the backbone of Europe's biggest economy, under a proposal the country's economy minister made on Thursday.The plans by Economy Minister Peter Altmaier, who has been criticized by Mittelstand companies for not doing enough to help them in the past few months, include limiting tax on retained profits to 25 percent.Hit by trade disputes and Brexit uncertainty, the export-oriented German economy contracted in the second quarter, and Chancellor Angela Merkel's coalition government disagrees on how to deal with the slowdown."We are shaped by a strong and world-oriented Mittelstand like almost no other country," Altmaier said. "A corner stone of my Mittelstand...
August 29, 2019

German minister eyes tax cuts for 'Mittelstand' as economy cools

Tesla Inc CEO Elon Musk and Alibaba Group Holding Ltd Executive Chairman Jack Ma attend the World Artificial Intelligence Conference (WAIC) in Shanghai, China, on Thursday. — Reuters
Tesla's Musk, Alibaba's Ma talk aliens and AI, skip issues like trade
SHANGHAI — Tesla CEO Elon Musk and Alibaba founder Jack Ma discussed Mars and artificial intelligence but steered clear of the US-China trade war in their first joint appearance on Thursday that some audience members said was disappointing.Their chat, which was live-streamed, was part of the opening events for the annual World Artificial Intelligence Conference (WAIC) in Shanghai.When the scheduled conversation by the tycoons was first announced, speculation was rife that they could use the podium to talk about issues such as the US-China trade frictions, which both had previously publicly commented on, a factory Tesla is building in Shanghai, or Ma's impending retirement from Alibaba.But the duo avoided all mention of those issues, instead chatting for over half an hour about their...
August 29, 2019

Tesla's Musk, Alibaba's Ma talk aliens and AI, skip issues like trade

US dollar and China yuan notes are seen in this file picture illustration. — Reuters
Trade war drives Asian nations toward recession
HONG KONG — Asian markets were mixed on Thursday but investors remain on edge over China-US trade talks and after a closely watched recession indicator hit a level not seen since just before the 2007 financial crisis.The pound remained under pressure after British Prime Minister Boris Johnson forced an extended suspension of parliament, heightening the prospect of a no-deal Brexit and leading to speculation of a snap no-confidence vote.Wall Street provided a healthy lead, but nervousness remains after the weekend's face-off between China and the US that saw each side impose tariffs on hundreds of billions of goods and Donald Trump label Xi Jinping at one point an "enemy".While the US president later said top-level officials from Beijing and Washington had spoken by phone...
August 29, 2019

Trade war drives Asian nations toward recession

Swedbank sign is seen on the local headquarters building in Tallinn, Estonia, in this March 25, 2019 file photo. — Reuters
Swedbank names Henriksson new CEO in bid to rebuild trust
STOCKHOLM — Swedbank has named Jens Henriksson, the head of insurer Folksam as chief executive officer, as the lender tries to rebuild confidence after a money-laundering scandal.Sweden's oldest retail bank earlier this year dismissed its CEO, accepted the resignation of its chairman and lost more than a third of its market value after its Estonian business was caught up in money-laundering allegations that have also engulfed Danish peer Danske Bank.Henriksson told a news conference priorities for a bank whose stock has tumbled nearly 40 percent this year included rebuilding its reputation and highlighting positives in its business."This is a crisis and a lot is about recovering our reputation," he said."There is a cloud of uncertainty that is hanging over Swedbank...
August 29, 2019

Swedbank names Henriksson new CEO in bid to rebuild trust

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