Home Economy Page 3

Economy

China to fine internet giant Tencent in antitrust blitz: Report

0
Tencent may be fined at least $1.5bn for not reporting details of investments and anti-competitive practices: Reuters.

China launches key module of space station planned for 2022

0
Tianhe module is one of three key parts of permanent space station China is building to rival the ISS.

Apple sales smash expectations on surging demand for devices

0
The tech giant reported second-quarter sales of $89.6bn, up 54 percent compared with the same period in 2020.

How much longer can the Fed be boring and predictable?

0
The Fed left its benchmark interest rate unchanged, but the bank cannot maintain an easy money policy indefinitely.

Hit the road, Jack! California gas prices rise to $4 a gallon

0
Gas prices are rallying in America's most populous state with possible spillover effects for the rest of the country.

Heavenly Harmony: China to launch space station core module

0
The launch, to take place as early as Thursday, is the latest big step forward for China's space exploration programme.

Boeing reports Q1 loss and another hit on Air Force One programme

0
Self-inflicted damage and a pandemic depressed demand for new planes pushing Boeing to a 6th straight quarterly loss.

Why are Middle East states selling off oil assets?

0
Saudi Arabia, UAE, Qatar, Oman and Kuwait have all accelerated plans to sell billions in energy assets.

Saudi Arabia in talks to sell 1% stake in Aramco: MBS

0
Crown Prince Mohammed bin Salman says Saudi Arabia is negotiating with a 'leading global energy company' for the sale.

Billionaire row: Musk takes swipe at Bezos over NASA moon project

0
Elon Musk recently won a coveted US government contract to build a spaceship to the moon. Jeff Bezos was not happy.

Alphabet sales beat analyst estimates on COVID advertising boost

0
Alphabet shares are up about 30 percent this year on optimism that vaccinations will revive shopping and travel.

JPMorgan chief signals it’s back to the office for US bankers

0
Employees at JPMorgan will be subject to a 50 percent occupancy cap until US authorities revise social-distancing rules.

Biden seeks $80bn for IRS enforcement to fund family programmes

0
The Biden administration hopes allocating an additional $80bn to boost tax auditing will help pay for family programmes.

Oil tanker leaks crude after collision near China’s Qingdao port

0
The A Symphony, a Suezmax tanker capable of carrying about one million barrels of crude, was struck by a bulk carrier.

Tesla stock tumbles despite record profits, Bitcoin boost

0
Tesla did not offer a specific estimate for vehicle deliveries in 2021, leaving investors shrugging without more data.

Turkey’s banks reluctant to finance Erdogan’s canal: Report

0
A sustainability pact that six of Turkey's top banks signed is a barrier to funding the project, Reuters reports.

HSBC profits more than double after reversing credit losses

0
The London and Hong Kong-based bank is planning to cut staff by about 35,000 to drive down costs.

South Korea beats virus blues as economy bounces back

0
Growth in Asia's fourth-largest economy was driven by exports of chip and electronics and a rise in investments.

US White House backs aggressive power grid emissions cuts: Report

0
Requiring power utilities to reduce use of coal and natural gas is a key part of US President Biden's climate plan.

Tesla beats quarterly revenue expectations on robust demand

0
Electric vehicle maker closed the session up 1.2 percent to $738.20 but its multi-year delivery outlook was unchanged.

Recent Posts