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Apple on Monday unveiled a star-packed original video service, a subscription plan for magazines and newspapers, and a credit card as part of a new strategic move for the iPhone maker.The US tech giant, aiming to emphasise digital content and services to make up for a slump in smartphone sales, also announced Apple Arcade, a game subscription service for mobile and other devices.Director Steven Spielberg, TV host Oprah Winfrey and Hollywood stars Jennifer Aniston, Reese Witherspoon and Steve...
Airbus SE secured a US$35 billion jet deal from China during a state visit by President Xi Jinping to the French capital, dealing a fresh blow to Boeing Co as it grapples with the grounding of its bestselling jet.It was among 15 business contracts between China and France that were signed on Monday, including a €1 billion (US$1.1 billion) contract for EDF to build an offshore wind farm in China, the French presidency said.The mammoth Airbus order included 290 A320-series narrow-body planes and...
The rising trade tensions between the United States and China should not be defined simply as a new cold war between the world’s two largest economies, according to international relations expert Dr Parag Khanna.It is a much broader dynamic that reflects the changing centre of gravity for trade from one focused on the transatlantic movement of goods to Eurasia, said Khanna, the founder of Singapore-based strategic advisory firm FutureMap and the author of six books."
For Dimitra Dionysopoulou, who lives in the shadow of the Acropolis, there is no mistaking the signs of the Airbnb takeover in her neighbourhood.“Renovation noise, debris disposal bins on every street, and rolling luggage,” said the 50-year-old Athenian mother.Dionysopoulou has lived her entire life in the middle-class district of Koukaki, now in the midst of a home-sharing frenzy. In 2016, it was named Airbnb’s fifth fastest growing neighbourhood globally with an 800 per cent jump in activity…
There are finally enough signs of an emerging pork catastrophe in China to propel prices and get funds to turn bullish again.African swine fever, which is highly lethal and difficult to contain, was first reported in China last August. It’s taken time for the disaster to play out, but it’s arrived. Pork prices in the Asian nation have shot up, and the Chinese government said its sow breeding herd was down about 15 per cent. That decline is bigger than the entire herd of North America.Earlier…
Great Wall Motors, China’s top seller of sport-utility vehicles and pickup trucks, is betting on expansion in overseas markets to counter a slowdown in the domestic car market, Wei Jianjun, its chairman, said on Monday.The company, which exports cars to countries such as South Africa, Chile and Russia, aims to export 60,000 units this year, a third more than last year’s actual exports of 45,129 units, Wei said in an interview."
The chance of a recession in the United States is "not extraordinary", according to the president of the Chicago Federal Reserve, conveying a more benign outlook for the world’s largest economy than the fear that has roiled stock markets from New York to Sydney.Growth in "the US economy has slowed but is still robust", said Charles Evans, with the United States’ US$21 trillion economy expected to grow by about 2 per cent this year, which is "pretty good", putting the probability of a recession...
Amid China’s economic downturn, its booming education industry has become a bright spark in the gloom thanks to surging demand for after-school learning, resulting in an influx of investment capital.Within the rapidly expanding private education sector, the fastest growth comes from after-school tutoring, such as private tuition tutoring and English instruction classes as Chinese parents have no qualms about spending on such programmes to help their children."
Naspers, the biggest investor of Chinese technology giant Tencent Holding, is spinning off its main internet businesses in Amsterdam in a push to boost its value.The units that the South African company will list on Euronext Amsterdam include its 31 per cent stake in Hong Kong-traded Tencent, which runs the world’s biggest video games business by revenue and China’s largest social media operation, as well as holdings in Russian internet platform Mail.
China has embraced the idea of defaults imposing some discipline on debtors in its bond market. And some of the most troubled debtors are local governments’ financing vehicles (LGFV). So an LGFV default has long seemed on the cards. But it just isn’t happening.Moody’s Investors Service thought the first one might come in 2017. Almost two years later, there have been some close calls – including with a late payment by a unit owned by Qinghai province on a dollar bond last month that caused…
A “circus”, “Disneyland” and a “failed state”. Prior to the turmoil unleashed by its vote in 2016 to leave the European Union, it was unthinkable that Britain – a country long admired for its political stability and pragmatism – could be referred to in such a disparaging way.Yet with Britain now knee-deep in a political and constitutional crisis – and just weeks away from crashing out of the EU with no agreement in place on how to continue doing business with the bloc – the country’s reputation…
World markets are taking a turn for the worse and crying out for central banks to adjust policies to stop the rot. Global manufacturing has taken a dive, stock market confidence is on the ropes and the US Treasury yield curve is firing early warning shots about a possible future recession. It is not panic stations yet, but the US Federal Reserve seems ready for action. The Fed cannot succeed in isolation and needs other central banks to join forces to stop a deeper crisis unfolding. The worry…
Chinese consumers are less confident about their personal finances, income growth and are cautious of making big purchases than they were a year ago as the country’s economic slowdown is beginning to weigh on sentiment, a Credit Suisse study has found.The number of respondents expecting an improvement in the state of their personal finances in the next six months has "decreased significantly by 5 percentage points to 30 per cent in 2018, after a strong recovery in 2017," according to the Credit...
A Chinese copycat of the Range Rover Evoque has been banished from forecourts in China, a rare legal victory for foreign companies locked in intellectual property disputes with local firms.A court in Beijing ordered Jiangling Motors to immediately stop making and selling the Landwind X7 after finding it copied five unique features from the Evoque, manufacturer Jaguar Land Rover Automotive said in a statement Friday.The Beijing Chaoyang District Court also ruled that Jaguar Land Rover be paid...
China plans to accelerate commercialisation of 5G as development of the advanced wireless technology enters a "final sprint" phase, with winners poised to achieve accelerated economic development, according to a senior Chinese government official.Wang Xinzhe, chief economist at China’s Ministry of Industry and Information Technology (MIIT), said the agency has set a number of priorities to speed up the commercialisation of 5G as the next generation wireless technology enters what he called the ...
China’s oil giants aim to spend the most in five years in pursuit of higher energy output. But unlike global rivals investing in top-tier assets, the state-owned producers are trying to boost supply from fields that are either old and high-cost or new and challenging.China’s big three – PetroChina, Sinopec and CNOOC – are raising combined capital expenditure to about 517 billion yuan (US$77 billion), up 18 per cent from last year. That is almost back to levels seen before oil’s collapse in 2014…
When Apple boss Tim Cook takes the stage at the Steve Jobs Theatre in Silicon Valley on Monday, he will usher in a new era for the world’s largest technology company.The chief executive is expected to unveil streaming video and news subscriptions, key parts of Apple’s push to transform itself into a leading digital services provider.

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