Saturday, 6 June 2020

Business

US lifts ban on suppliers selling to China’s ZTE

REUTERS: The U.S. Department of Commerce lifted a ban on U.S. companies selling goods to ZTE Corp, allowing China’s second-largest telecommunications equipment maker to resume business. The Commerce Department removed the ban shortly after ZTE deposited US$400 million in a U.S. bank escrow account as part of a settlement reached ...

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Facebook Hires AI Chip Development Head

LONDON: Facebook is continuing to devote more resources to the development of AI-focused chips, bringing aboard a senior director of engineering from Google who worked on chips for Google’s products to lead its efforts, Bloomberg reports. We’ve reached out to Google and Facebook for confirmation. Shahriar Rabii spent nearly seven ...

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First space tourist flights could come in 2019

(AFP) WASHINGTON: The two companies leading the pack in the pursuit of space tourism say they are just months away from their first out-of-this-world passenger flights – though neither has set a firm date. Virgin Galactic, founded by British billionaire Richard Branson, and Blue Origin, by Amazon creator Jeff Bezos, ...

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Chinese Authorities Crack Down On Cryptocurrency Gambling

BIEJING: According to a July 12 announcement made by the Guangdong Provincial Public Security Department, the police in the province have launched an extensive enforcement action against illegal gambling organizations. This operation involves 21 security authorities and has, to date, disabled 70 websites, approximately 540 gambling apps, and over 250 ...

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Apple launch $300 Million Fund for China Clean Energy

SHANGHAI: Apple Inc will launch a $300 million clean energy fund in China, the firm said in a statement on Friday, working with its suppliers to invest in renewable energy projects that could power close to 1 million homes in the country. China’s government has made cutting pollution a key ...

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Exxon Mobil joins exodus of firms from lobbying group ALEC

(Reuters) HOUSTON: Exxon Mobil said on Thursday it ended its association with the American Legislative Exchange Council, a conservative political group that several other prominent US corporations have left in recent years. “We review our memberships on an annual basis and this year have decided to discontinue our membership in ...

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Founder of Papa Johns steps down

LONDON: Pizza chain Papa John’s International Inc said its founder and former chief executive, John Schnatter, resigned as chairman of the board. The company said Olivia Kirtley would act as lead independent director, and added it would appoint a new chairman in the coming weeks. The resignation comes after Forbes ...

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Facebook facing UK fine over data protection breaches

LONDON: Britain’s information regulator slapped Facebook with a small but symbolic fine for breaches of data protection law after millions of users’ data was improperly accessed by consultancy Cambridge Analytica. The 500,000 pound ($663,850) fine is less that 10 minutes worth of revenue for the social media firm worth $590 ...

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India cuts Iranian oil imports ahead of US sanctions

NEW DELHI: Indian refiners cut imports of Iranian oil last month as they started weaning their plants off crude from the country to avoid sanctions by the United States that are set to take effect in November. India’s monthly oil imports from Iran declined to 592,800 barrels per day (bpd) ...

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Trade war: US lists next $200 bn Chinese goods to face tariffs

WASHINGTON: The United States late Tuesday announced it was starting the process to slap 10 percent tariffs on another $200 billion in Chinese export goods as soon as September, escalating the trade war between the world’s two largest economies. President Donald Trump vowed to hit back on a growing list ...

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