Wednesday, June 3, 2020
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Network / Business
Apple rolls out cheaper iPhone as pandemic curbs spending
/ from April 16, 2020
NEW YORK -- Apple is releasing a new iPhone that will be vastly cheaper than the models it rolled out last fall when the economy was booming and the pandemic had yet to force people to rethink their spending.The second-generation iPhone SE introduced Wednesday will sell for as little as ...
Oil plunges 25% as another virus-fueled trading week begins
/ from March 9, 2020
NEW YORK -- Oil prices are plunging amid concern a dispute among producers could lead a global economy weakened by Covid-19 to be awash in an oversupply of crude.Brent crude, the international standard, lost $11.44, or 25.3 percent, to $33.83 per barrel in electronic trading in London. Benchmark U.S. crude ...
Oil up, stocks down after Iran missile attack on US troops
/ from January 8, 2020
BEIJING -- Oil prices rose and Asian stock markets fell Wednesday after Iran fired missiles at US bases in Iraq in retaliation for the killing of an Iranian general.Brent crude futures, the benchmark for international oils, spiked more than $3 per barrel in London before retreating.Tokyo's stock market benchmark fell ...
Chinese utility buys 49% of Oman power grid
/ from December 17, 2019
BEIJING -- A Chinese state-owned utility said it has bought 49 percent of the power distribution grid in the Gulf nation of Oman.State Grid Corp. described the purchase as part of China's multibillion-dollar Belt and Road initiative to build trade-related infrastructure across Asia to Europe.State Grid released no financial details ...
Bangladesh sues RCBC in US court over $81-M heist
/ from February 1, 2019
DHAKA, Bangladesh -- The Central Bank of Bangladeshhas filed a lawsuit in a New York court against a Philippine bank, seeking damages and the return of $81 million stolen from its account with the Federal Reserve Bank of New York in 2016, an official said Friday.Abu Hena Mohd. Rajee Hassan, ...
Qatar will pull out of Opec amid tension with Saudi Arabia
/ from December 3, 2018
DUBAI, United Arab Emirates -- The tiny, energy-rich Arab nation of Qatar announced on Monday it would withdraw from Opec, mixing its aspirations to increase production outside of the cartel's constraints with the politics of slighting the Saudi-dominated group amid the kingdom's boycott of Doha.The surprise announcement from Qatar's minister ...
Toyota recalls over 1M vehicles to fix air bag problem
/ from November 2, 2018
DETROIT -- Toyota is recalling just over 1 million vehicles worldwide because the air bags could inflate without a crash or fail to work if there is one.The recall covers about 17,000 Scion xA vehicles in the US from 2004 through 2006. Also affected in Japan, Europe and elsewhere are ...
Cathay Pacific Air says data breach affected 9.4 million
/ from October 25, 2018
HONG KONG -- Hong Kong-based Cathay Pacific Airways said Thursday it has discovered unauthorized access to the personal data of 9.4 million passengers but had no evidence the leaked information had been misused.The breach was discovered during "ongoing security processes," the airline said in a statement.Hong Kong's privacy commissioner, Stephen ...
IMF downgrades outlook for world economy to 3.7 percent growth
/ from October 9, 2018
WASHINGTON -- The International Monetary Fund (IMF) is downgrading its outlook for the world economy, citing rising interest rates and growing tensions over trade.The IMF said Monday that the global economy will grow 3.7 percent this year, the same as in 2017 but down from the 3.9 percent it was ...
More US corporate giants warn tariffs will mean price hikes
/ from September 27, 2018
DETROIT -- From Ford to Walmart to Procter & Gamble, a growing number of iconic American companies are warning that President Donald Trump's tariffs on US imports are raising their costs and prices.Jim Hackett, CEO of Ford, the second-largest US-based automaker, said Wednesday that Trump's taxes on imported steel and ...