Fed signals first US rate hike since pandemic coming in

Federal Reserve Chair Jerome Powell is seen delivering remarks on a screen as a trader works on the trading floor at the New York Stock Exchange on Dec 15, 2021. (Reuters photo) Federal Reserve Chair Jerome Powell on Wednesday gave a clear signal the central bank is ready to raise US interest rates in March […]Read More

Microsoft sees strong earnings on cloud computing

Microsoft sees strong quarterly earnings SAN FRANCISCO: Microsoft beat market expectations Tuesday with strong quarterly performance in cloud computing and software, still benefitting from the pandemic’s online shifting of work, play, shopping and learning. The US tech colossus, which announced last week a blockbuster deal to buy gaming giant Activision Blizzard, said profit jumped to […]Read More

Netflix stung by slowing subscriber growth

Netflix sees slowing subscriber growth SAN FRANCISCO: Netflix on Thursday reported cooling subscriber growth as fierce competition and the pandemic weigh heavy despite hits like “Squid Game” and “Money Heist.” The streaming service ended the year with 221.8 million subscribers, just below target, after booming during coronavirus lockdowns that kept people at home and on […]Read More

Unilever won’t up £50bn offer for GSK-Pfizer unit

British pharmaceutical group GlaxoSmithKline said it had received three unsolicited offers from Unilever for GSK Consumer Healthcare — all of which were rejected for being too low LONDON: Consumer goods giant Unilever on Wednesday said it would not increase a £50-billion offer for the consumer healthcare unit owned by pharmaceutical groups GlaxoSmithKline and Pfizer. British […]Read More

Mandatory Chinese Olympics app has ‘devastating’ encryption flaw: analyst

All those attending the Olympics in Beijing have to download MY2022, an app China says is to monitor Covid, but which anaylsts warn has “devastating” security flaws WASHINGTON: An app all attendees of the upcoming Beijing Olympics must use has encryption flaws that could allow personal information to leak, a cyber security watchdog said Tuesday. […]Read More

UK jobs picture robust as Omicron struck

The UK unemployment fell back almost to its pre-pandemic level late last year LONDON – Britain’s unemployment rate dropped and payrolls recovered further at the end of last year despite the onset of the Omicron variant, official data showed Tuesday. The unemployment rate fell to 4.1 percent in the three months to the end of […]Read More

Chip crisis pushes European car sales to new low

Car sales in Europe fell to their lowest point since statistics began in 1990 PARIS – EU car sales fell to a new low last year as the auto sector was hobbled by the Covid pandemic and a shortage of computer chips, industry figures showed Tuesday. Registrations of new passenger cars in the EU slid […]Read More

Bank of Japan lifts inflation forecast, no policy change

Japan’s central bank has revised up its inflation forecast TOKYO – Japan’s central bank revised its inflation forecast on Tuesday and adjusted its view of price risks, while leaving its monetary easing policy in place in a nod to lingering pandemic uncertainty. As prices rise swiftly in other economies, Japan’s inflation remains relatively feeble, and […]Read More

Head of Credit Suisse resigns over Covid rules breach

Credit Suisse’s now former chairman, Antonio Horta-Osorio, had vowed to tackle risk at the scandal-plagued bank ZURICH – The head of Credit Suisse has resigned less than a year after taking the reins of the scandal-hit bank following reports that he had broken Covid quarantine rules. Antonio Horta-Osorio’s resignation was effective immediately following an investigation […]Read More

Suu Kyi hit with five new charges

In this file photo taken on Sept 5, 2015, National League for Democracy chairperson Aung San Suu Kyi delivers a speech during a voter education campaign at the Hsiseng township in Shan State. (Photo: AFP) A Myanmar junta court has hit ousted civilian leader Aung San Suu Kyi with five new corruption charges related to […]Read More