Facebook signs deals with three more Australian media firms

Australia’s parliament passed landmark legislation on Thursday requiring global tech giants to pay for news content. Facebook Inc says it has signed preliminary deals with three Australian media firms, a day after the country’s Parliament passed a law forcing it to pay media companies for using content on its platform. Facebook said it signed partnership […]

Saudi HQ: Kingdom will require foreign firms to set up shop

Saudi Arabia has offered firms a package of incentives including tax breaks to urge them to set up shop in the kingdom under a plan dubbed ‘Project HQ’, which is also designed to shift the Gulf’s business hub away from Dubai. Saudi Arabia said it will stop working with foreign firms that don’t base their […]

Zombie nation: UK risks creating unviable firms, think-tank warns

Resolution Foundation says government loan guarantees incentivise banks to lend to firms with weak prospects. The British government has risked creating a legion of “zombie” companies by encouraging banks to lend 45 billion pounds ($62bn) to small businesses with a 100 percent state guarantee during the COVID-19 pandemic, a leading think-tank warned on Wednesday. The […]

Anti-trust crackdown: China issues new rules targeting tech firms

The rules are likely to pressure firms such as Alibaba, JD.com, Ant Group and Tencent which dominate e-commerce in China. China’s market regulator has released new anti-monopoly guidelines aimed at internet platforms, tightening existing restrictions faced by the country’s technology giants. The new rules, published on Sunday, formalise an earlier anti-monopoly draft law released in […]

Picking up steam, US firms add 174,000 jobs in January

The US labour market picked up steam in January as US companies added 174,000 jobs in a month, the ADP Research Institute said on Wednesday. Good news from the United States labour market surfaced on Wednesday. US firms added 174,000 jobs last month, the latest ADP National Employment Report showed. That’s a stark improvement over […]

How shipping firms realised they had humanitarian crisis on hand

Terence Tsai started hearing about the growing labor crisis in shipping in a roundabout way. First, in March, an official at a ship management company in Hong Kong let slip that a captain had purposefully diverted a vessel under its control into the middle of the ocean to protest the treatment of himself and his […]

Davos meeting: Firms warned not to slide on women’s equality

Business leaders, campaigners and politicians told Monday’s online meeting organised by the World Economic Forum that women risk losing hard-won gains at work because of pandemic fallout. Companies need female employees to help them bounce back from the coronavirus pandemic and must not let gender equality slip off their agenda due to the tough business […]

Chinese telecoms firms seek review of US delisting move

New York Stock Exchange had removed three China telecoms firms after former US President Trump’s executive order barring investments in military-linked companies. China’s three biggest telecommunications firms said they requested a review of the New York Stock Exchange’s decision to delist their shares more than a week ago, a move triggered by an executive order […]

Biden mulls forming US role to fix anti-competitive firms: Report

The rise of Big Tech firms that allegedly suppress competition has become a policy issue for governments in Europe and China. The incoming administration of US President-elect Joe Biden is considering creating a White House position focused on competition policy and issues relating to antitrust, two sources familiar with internal deliberations told the Reuters news […]

British firms call for $10.3bn in urgent COVID-19 aid

The UK’s biggest lobby group has asked the government to extend its job support programme until the end of June. British firms have asked for another 7.6 billion pounds ($10.3bn) of emergency government help, saying they cannot wait until finance minister Rishi Sunak’s March budget to learn if they will get more pandemic support. With […]

Robots rising: Firms debut fuzzy pets, household helpers at CES

Exhausted from the isolation, extra chores and sleepless nights of the coronavirus pandemic? Get a robot to help. Firms debuted artificial intelligence-enabled gadgets aimed at making staying home during the COVID-19 crisis easier, safer and less frustrating at this year’s first fully virtual Consumer Electronics Show. Plenty of people adopted pets during the pandemic to […]

In last China swipe, Trump hits officials, firms with US bans

In its waning days, the administration of US President Donald Trump has taken another swipe at China and its biggest firms, imposing sanctions on officials and companies for alleged misdeeds in the South China Sea and imposing an investment ban on nine more firms. The moves will further increase tensions with China, Washington’s strategic rival […]

Venezuela mulls letting private firms operate state oilfields

Venezuelan officials have met in recent months with small domestic oilfield contractors to propose letting them operate fields owned by state-owned Petroleos de Venezuela (PDVSA) while pocketing part of the proceeds, six people with knowledge of the talks told Reuters news agency. The talks show that President Nicolas Maduro, facing a collapse in crude output […]

‘Gathering storm’: EU firms say US-China decoupling is hurting

Rivalry between US and China in tech is the biggest source of concern, European business groups say in a new report. Digital decoupling between China and the United States could severely affect European companies in China and they should “prepare for the worst,” EU business groups said, adding that they may be forced into a […]

Navajo Nation reaches deal with mining firms in toxic 2015 spill

Under the settlement with the Navajo Nation, Sunnyside Gold Corp will pay the tribe $10m. The Navajo Nation and the US state of New Mexico have reached multimillion-dollar settlements with mining companies to resolve claims stemming from a 2015 spill that resulted in rivers in three western states being fouled with a bright yellow plume […]

Big firms gave $1.1m to Republicans who objected to Biden’s win

Six of the biggest money managers gave a combined $1.1 million to Republican lawmakers who objected to certifying results of the 2020 presidential election, a new study shows. Political action committees of BlackRock Inc., Vanguard Group, JPMorgan Chase & Co., Fidelity Investments, State Street Corp. and Bank of New York Mellon Corp. contributed to one […]

Firms debut Bluetooth N95 masks, AI perfume at virtual CES

From sanitising robots to personalised perfume dispensers to creative automotive technology and innovative apps, cutting-edge products and high-tech advances from around the world are on display at the annual Consumer Electronics Show. CES is also normally one of the biggest and most crowded events held in Las Vegas, Nevada in the United States. But this […]

US Chinese telcoms ban sees Wall St firms plan to reduce exposure

Goldman Sachs, JPMorgan, and Morgan Stanley plan to reduce exposure to Chinese telecom firms named in a US ban on investments in companies Washington says are linked to China’s military. Wall Street firms in Hong Kong including Goldman Sachs and JPMorgan have set out plans to reduce exposure to Chinese telecom companies named in a […]

Index compiler MSCI to remove China telecom firms after Trump ban

Decision could have larger effect on the firms’s shares than the New York Stock Exchange’s move to delist them. MSCI Inc. will remove China’s three major telecommunications companies from its indexes on Friday, giving global funds just one day to adjust billions of dollars of passive investments. The index provider’s decision to cut China Mobile […]

‘Dark days of labour market’: US firms shed jobs as COVID surges

Private companies in the United States shed workers in December for the first time in eight months as out-of-control COVID-19 infections unleashed a fresh wave of business restrictions, setting the tone for what is likely to be a brutal winter for the economy. The ADP National Employment Report on Wednesday showed job losses across all […]

Germany to require women on large firms’ boards

German legislators move to even up executive boards after voluntary efforts to close the country’s gender gap failed. German listed companies must include women on their executive boards as part of a landmark bill agreed by the country’s coalition government Wednesday after voluntary efforts failed to close a gender gap. Listed companies with four executives […]

Double U-turn? US exchange may yet delist China telecoms firms

New York Stock Exchange had been planning to reverse its decision to delist three Chinese telecoms firms. The New York Stock Exchange is considering proceeding in delisting three major Chinese telecommunications firms after Treasury Secretary Steven Mnuchin criticized its shock decision to grant the companies a reprieve, said three people familiar with the matter. The […]

US exchange u-turn on Chinese telecom firms boosts Asian stocks

Asian stocks headed higher on Tuesday with Chinese stocks getting a boost after the New York Stock Exchange made a surprise about-turn on its decision to delist the shares of three of China’s biggest telecommunications companies. Qatari stocks were also up sharply on hopes of a resolution to the years-long dispute with its Gulf neighbours, […]