Tuesday, December 1, 2020
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Network / Business
World shares slip on doubts over Covid vaccines, outbreaks
/ from November 12, 2020
WORLD stocks fell back on Thursday, November 12, after an overnight comeback by big technology shares that have thrived during the pandemic.Excitement over news of potentially effective vaccines for Covid-19 has been tempered by concerns over the logistical challenges of ensuring access to billions of people. Meanwhile, caseloads are rising, ...
Cathay Pacific cuts 8,500 jobs, shutters regional airline
/ from October 21, 2020
HONG KONG — Hong Kong airline Cathay Pacific Airways said Wednesday it would cut 8,500 jobs and shut a regional airline as it grapples with the plunge in air travel due to the pandemic.About 5,300 employees based in Hong Kong and another 600 elsewhere will likely lose their jobs, and ...
Microsoft attempts takedown of global criminal botnet
/ from October 13, 2020
Microsoft announced legal action Monday seeking to disrupt a major cybercrime digital network that uses more than 1 million zombie computers to loot bank accounts and spread ransomware, which experts consider a major threat to the U.S. presidential election.The operation to knock offline command-and-control servers for a global botnet that ...
2 more ex-Wirecard managers arrested, ex-CEO back in custody
/ from July 23, 2020
BERLIN -- Two more former executives at bankrupt German payment company Wirecard were arrested on Wednesday in the fraud scandal that brought down the one-time tech star and its former CEO was taken back into custody after the case against him was expanded, prosecutors said.The former Wirecard managers are suspected ...
Wirecard headquarters raided in probe of accounting scandal
/ from July 3, 2020
BERLIN -- Investigators searched the headquarters of German payment systems provider Wirecard and four other locations Wednesday as part of their probe of an accounting scandal that led to the arrest of the company's longtime CEO and forced the firm to file for bankruptcy protection.Twelve prosecutors were supported by 33 ...
Ex-CEO of Wirecard arrested in scandal over missing billions
/ from June 24, 2020
BERLIN -- The former CEO of German financial technology company Wirecard has been arrested on suspicion of misrepresenting the firm's finances in an accounting scandal that centers on a missing 1.9 billion euros ($2.1 billion), prosecutors in Munich said Tuesday.Markus Braun resigned on Friday after the company said that auditors ...
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 ...