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S&P, Nasdaq fall as tech rally loses steam; Dow rises

S&P, Nasdaq fall as tech rally loses steam; Dow rises

US Treasury prices rose on Thursday, as trade disputes between the United States and its major trade partners were in focus ahead of the Group of Seven (G7) summit. A trader works on the floor of the New York Stock Exchange shortly after the opening bell in New York, US. (Reuters pic) NEW YORK: The […]

June 8, 2018 | By | Reply More
McDonald’s plans US layoffs in cost-cutting move

McDonald’s plans US layoffs in cost-cutting move

McDonald’s USA President Chris Kempczinski announced the job cuts in a message to employees. The job cuts at McDonald’s are part of a wider restructuring as it tries to boost its US business. (AFP pic) NEW YORK: Fast food giant McDonald’s said Thursday it plans to cut an unspecified number of jobs as part of […]

June 8, 2018 | By | Reply More
Argentina clinches $50 billion IMF financing deal

Argentina clinches $50 billion IMF financing deal

Argentina requested IMF assistance on May 8 after its peso currency weakened sharply in an investor exodus from emerging markets. A man walks past the International Monetary Fund (IMF) logo at its headquarters in Washington, US. (Reuters pic) BUENOS AIRES: Argentina and the International Monetary Fund have reached an agreement for a three-year, $50 billion(RM199 […]

June 7, 2018 | By | Reply More
Walmart sues to bar former tax executive from joining Amazon

Walmart sues to bar former tax executive from joining Amazon

Lisa Wadlin told Walmart in January she was considering resigning as senior vice president, chief tax officer, but the company did not learn she was joining Amazon until separation papers were signed on May 15, according to the lawsuit. Walmart. (Reuters pic) WILMINGTON: Walmart Inc has asked a court to block a former top tax […]

June 7, 2018 | By | Reply More
Facebook admits privacy settings ‘bug’ affecting 14 million users

Facebook admits privacy settings ‘bug’ affecting 14 million users

Facebook said this affected users posting between May 18 and May 27 as it was implementing a new way to share some items such as photos. Facebook logo. (AFP pic) SAN FRANCISCO: Facebook acknowledged Thursday a software glitch that changed the settings of some 14 million users, potentially making some posts public even if they […]

June 7, 2018 | By | Reply More
Aviation’s most outspoken boss thinks women cannot do his job

Aviation’s most outspoken boss thinks women cannot do his job

THE International Air Transport Association (IATA), a trade association for airlines, was founded in 1945 to promote the interests of carriers around the world. In recent years the airline cartel of old has been accused of being out of tune with the times, particularly by low-cost carriers such as Ryanair, which is Europe’s biggest. At […]

June 7, 2018 | By | Reply More
Time-scale payments unheard of in construction sector: Experts

Time-scale payments unheard of in construction sector: Experts

PETALING JAYA: The lopsided terms in two gas piping projects worth RM9.4 billion, which raised eyebrows in the market, have never been seen in the corporate financing scene in Malaysia, industry players say. “I’ve never heard of a project that was funded according to time scale. That’s highly abnormal,” Proactive Consultancy Sdn Bhd consultant director […]

June 7, 2018 | By | Reply More
US says reached deal with China's ZTE

US says reached deal with China's ZTE

WASHINGTON: US Commerce Secretary Wilbur Ross said today that Washington has reached a deal with ZTE Corp that would reverse a ban on buying parts from US suppliers, allowing China’s No. 2 telecommunications equipment maker to get back into business. Under the deal, ZTE will change its board and management within 30 days, pay a […]

June 7, 2018 | By | Reply More
Xiaomi’s forthcoming IPO shows how the rules of business are changing

Xiaomi’s forthcoming IPO shows how the rules of business are changing

IN 1987, when Lei Jun was a computer-science student in Wuhan, on the banks of the Yangtze River, he read a book about Steve Jobs and vowed to emulate him. If all goes to plan, this summer Mr Lei will take a leap towards that dream with the flotation of his firm, Xiaomi, at a […]

June 7, 2018 | By | Reply More
Rent the Runway is taking clothes-sharing mainstream

Rent the Runway is taking clothes-sharing mainstream

AT ABOUT 4.30am the first of thousands of black garment bags arrive by truck at a vast warehouse less than ten miles (16km) from Lower Manhattan. The bags brim with designer dresses and other trendy clothing and accessories. Workers begin inspecting the garments. A billowy, patterned blouse smells a bit ripe. A floor-length red gown has a tear. […]

June 7, 2018 | By | Reply More