07/16/2019

Brazil’s vice president says no restrictions on Huawei

Brazil Vice-President Hamilton Mourao gestures during a press conference with foreign journalists in Rio de Janeiro, Brazil, on July 15, 2019 (MAURO PIMENTEL)Rio de Janeiro (AFP) – China’s Huawei will not be restricted in Brazil where plans are under way to launch a 5G network, the country’s vice pr

07/16/2019

Wall Street notches fresh records as global stocks gain

The market is still counting on the US central bank to cut interest rates sooner rather than later (MOHD RASFAN)New York (AFP) – Global stocks edged higher Monday, with US indices notching fresh records at the start of an earnings-rich week following mixed Chinese economic data.Expectations for the

07/16/2019

EU agrees measures against Turkey for Cyprus drilling

The EU will sanctions Turkey for what it called “illegal” drilling in Cyprus’s exclusive economic zone (-)Brussels (AFP) – The European Union on Monday agreed measures to punish Turkey for pursuing drilling operations off Cyprus despite repeated warnings.The EU will halt high-level dialogue with Tur

07/16/2019

US-China trade officials to talk again ‘this week’: official

US Treasury Secretary Steven Mnuchin said no date has yet been agreed for in person trade talks with China (NICHOLAS KAMM)Washington (AFP) – Top US and Chinese trade negotiators are due to speak by telephone in the coming days, but no face-to-face talks have been scheduled yet, US Treasury Secretary

07/16/2019

IKEA closing only US furniture factory, cutting 300 jobs

IKEA said it is cheaper to produce wood shelves and storage units and import them into the US market, than to produce them in Danville, Virginia (JUSTIN SULLIVAN)Washington (AFP) – IKEA said it will close its only US factory at the end of the year, cutting 300 jobs, as it will be more cost effective

07/15/2019

Huawei says it plans to invest $3.1 billion in Italy

Huawei — a leader in next-generation 5G wireless technology — is subject to US sanctions over concerns about its ties to the government in Beijing (FRED DUFOUR)Milan (AFP) – Chinese tech giant Huawei said Monday it plans to invest $3.1 billion (2.75 billion euros) in Italy over three years, as the f

07/15/2019

LVMH teams up with Stella McCartney

Fashion designer Stella McCartney “was the first to put sustainability and ethical issues on the front stage,” said LVMH boss Bernard Arnault (Patrick KOVARIK)Paris (AFP) – French luxury and fashion giant LVMH said Monday it will buy a minority stake in Stella McCartney’s design house, which has cut

07/15/2019

Atlantia, Delta picked to reboot ailing Alitalia

Four big investors are said to be lined up now for a reboot of the ailing Italian carrier Alitalia (PACO SERINELLI)Milan (AFP) – Italy’s state railway Ferrovie dello Stato (FS) on Monday said it had chosen the Atlantia group and US airline Delta as partners to reboot the ailing carrier Alitalia.The

07/15/2019

EU agrees sanctions against Turkey for drilling off Cyprus

The EU will sanctions Turkey for what it called “illegal” drilling in Cyprus’s exclusive economic zone (-)Brussels (AFP) – European Union officials on Monday agreed political and financial sanctions against Turkey after Ankara went ahead with drilling operations off Cyprus despite repeated warnings,

07/15/2019

France begins process to allocate 5G frequencies: regulator

France’s telecoms regulator has officially launched the process to allocate to operators frequencies for next-generation 5G mobile telephone networks; this image from April 18, 2019 during Orange Business Summit shows French telecom group Orange’s and 5G’s logo (ERIC PIERMONT)Paris (AFP) – France’s

07/15/2019

Amazon staff stage strikes in Germany on big sale day

Amazon workers went on strike in Germany to demand better wages as the US online retail giant launched its Prime Day global shopping extravaganza (Peter Endig)Berlin (AFP) – Amazon employees went on strike at seven locations in Germany on Monday, demanding better wages as the US online retail giant

07/15/2019

Markets slightly firmer after doubts over slowing Chinese economy

Global markets were slightly firmer after initial wariness sparked by news the Chinese economy grew at the slowest pace in nearly three decades in the first quarter (MOHD RASFAN)London (AFP) – World stock markets were slightly firmer Monday, mostly posting modest gains after initial doubts on news t

07/15/2019

Boeing shares fall as 737 MAX grounding drags on

Boeing 737 MAX planes are being stored near Boeing Field in Seattle as the planes remain grounded after two deadly crashes (STEPHEN BRASHEAR)New York (AFP) – Boeing shares fell early Monday after major US airlines announced more flight cancellations because they expect the 737 MAX aircraft to be gro

07/15/2019

Automation has doubled in global manfacturing

Robots manufactured by Comau are pictured on the assembly line of the Fiat 500 BEV Battery Electric Vehicle, the first of its kind in Europe, during its inauguration at the Fiat Chrysler Automobiles (FCA) Mirafiori plant in Turin on July 11, 2019 (Miguel MEDINA)Washington (AFP) – The use of robots i

07/15/2019

One in five US Twitter users follows Trump: survey

President Donald Trump’s Twitter account is followed by nearly one out of five American adults who use the platform, a survey shows (SAUL LOEB)Washington (AFP) – Nineteen percent of US Twitter users follow President Donald Trump on the social platform, and a majority of those people approve of his j

07/15/2019

Tech tax set to dominate G7 finance minisers meeting

The French tax on big tech firms is often call the GAFA tax, short for Google, Apple, Facebook and Amazon (Damien MEYER)Paris (AFP) – A row over taxing tech giants is set to dominate a meeting of G7 finance ministers near Paris this week, with the world’s leading industrialised nations already riven

07/15/2019

Asian markets mixed as China growth slows further

Asian markets had a mixed day after a record-breaking lead from Wall Street (MOHD RASFAN)Hong Kong (AFP) – Asian markets recovered after an early stumble on Monday as data showed China’s economy growing at its weakest pace in nearly three decades, hit by the US trade war, while investors debated the

07/15/2019

Carmaker PSA in reverse as Chinese sales hit a wall

With sales slumping in China and a handful of other markets, Europe now accounts for nearly 9 out of 10 vehicles sold by French carmaker PSA (SEBASTIEN BOZON)Paris (AFP) – French carmaker PSA said Monday its sales slumped in the first half of the year as it pulled out of Iran and sales in China plun

07/15/2019

Zimbabwe inflation rate soars to 175%

Zimbabwe in 2016 began issuing “bond notes”, a parallel currency meant to be equivalent to the US dollar, when there was a shortage of cash circulating in the country (Wilfred Kajese)Harare (AFP) – Zimbabwe’s annual inflation rate hit 175 percent in June, official data showed Monday, stoking fears o

07/15/2019

Toxic employers face jail as South Korea tackles workplace bullying

A new South Korean law will criminalise business owners who unfairly dismiss employees harassed at work (Jung Yeon-je)Seoul (AFP) – After enduring months of constant harassment at work, South Korean office worker Christine Jung finally confronted her aggressor — only to be fired and sued for defamat

07/15/2019

Asian markets in retreat as China growth slows further

Asian investors ignored a record-breaking lead from Wall Street, sending regional markets lower at the start of the week (MOHD RASFAN)Hong Kong (AFP) – Asian markets slipped on Monday as data showed China’s economy growing at its weakest pace in nearly three decades, hit by the US trade war, while i

07/15/2019

China GDP growth slows to 6.2% in second quarter

Beijing has introduced measures this year to boost the economy (JUSTIN SULLIVAN)Beijing (AFP) – China’s growth slowed to its weakest pace in almost three decades in the second quarter, with the US-China trade war and weakening global demand weighing on the world’s number-two economy, official data s

07/15/2019

As China locks up Muslims in Xinjiang, it opens its doors to tourists

From the expansive dunes of the Taklamakan Desert to the snow-capped peaks of Tianshan, Chinese authorities are selling troubled Xinjiang as a tourist idyll, welcoming travellers even as they send locals to internment camps (GREG BAKER)Kashgar (China) (AFP) – From the expansive dunes of the Taklamak