World

US calls for release of citizen journalist Zhang Zhan
31Dec mmBy Mike TrudellNo Comments
China, World

US calls for release of citizen journalist Zhang Zhan

United States Secretary of State Mike Pompeo has called for the release of citizen journalist Zhang Zhan who was detained in May for her live stream reporting from Wuhan over Covid-19 and later sentenced to four years of imprisonment."The United States strongly condemns the People's Republic of China's (PRC) sham prosecution and conviction of citizen journalist Zhang Zhan on December 28. We call on the PRC government to release her immediately and unconditionally," Pompeo said in a statement.This comes after a Shanghai court sentenced Zhang to four years in prison on charges of disseminating information that provokes conflict.Pompeo said the Chinese Communist Party (CCP) has shown once again that it will do whatever it takes to silence those who question its official line, even regarding c...
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EU and China to sign investment deal amid unease over rights
29Dec mmBy Mike TrudellNo Comments
China, Market, World

EU and China to sign investment deal amid unease over rights

Despite rising concerns about the human rights situation in Xinjiang, the European Union (EU) and China are set to sign a business investment deal, which, EU hopes will help correct an imbalance in market access and create new investment opportunities for European companies in China by ensuring they can compete on an equal footing.According to an EU official with direct knowledge of the talks, the provisional agreement is set to be announced on Wednesday.The deal was sealed after China committed to pursuing ratification of the International Labor Organization's rules on forced labor, according to the unnamed official.The EU previously said the agreement, known as CAI, which includes provisions for settling disputes, should increase the transparency of Chinese state subsidies and make susta...
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Boeing ‘inappropriately coached’ pilots in 737 MAX testing: US Senate report
29Dec By Desk TeamNo Comments
World

Boeing ‘inappropriately coached’ pilots in 737 MAX testing: US Senate report

Boeing officials "inappropriately coached" test pilots during recertification efforts after two fatal 737 MAX crashes, according to a lengthy congressional report released on Friday. WASHINGTON: Boeing officials "inappropriately coached" test pilots during recertification efforts after two fatal 737 MAX crashes killed 346 people, according to a lengthy congressional report released on Friday. The report from the Senate Commerce Committee Republican staff raised questions about testing this year of a key safety system known as MCAS tied to both fatal crashes was contrary to proper protocol. The committee concluded Federal Aviation Administration (FAA) and Boeing officials "had established a pre-determined outcome to reaffirm a long-held human factor assumption related to pilot reacti...
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Cricket-England’s entire tour of India to be held at three venues
29Dec By Desk TeamNo Comments
World

Cricket-England’s entire tour of India to be held at three venues

India and England will play four tests, five Twenty20 matches and three one-dayers in February-March in India with the high-profile series restricted to just three venues due to the COVID-19 pandemic, both cricket boards said on Thursday. MUMBAI: India and England will play four tests, five Twenty20 matches and three one-dayers in February-March in India with the high-profile series restricted to just three venues due to the COVID-19 pandemic, both cricket boards said on Thursday. The series will kick off on Feb. 5 with Chennai hosting the opening two tests before the sides head to the Western Indian city of Ahmedabad to play the first international match at the world's largest cricket stadium. The Motera stadium, with a capacity of 110,000, has displaced the Melbourne Cricket Groun...
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China strategically captured entire supply chain of America: US-based advocacy group
28Dec mmBy Mike TrudellNo Comments
China, World

China strategically captured entire supply chain of America: US-based advocacy group

Over the past year, China has strategically captured the entire supply chain of United States, making dependent on Beijing, and hurting American workers on the job front, said Lucas Kunce, the national security director at the American Economic Liberties Project.In an interview, Kunce said that the business people who testified during the congressional hearings on tariffs revealed that the United States cannot produce essential products including certain weapons systems and US dollars "without some components or resources coming from China.""So, China has strategically captured our entire supply chain," he said. "And it makes us vulnerable, and it hurts American workers too because we are losing skills that we need to try to get back and we're losing good-paying jobs."Kunce noted that the ...
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Shortages, jams and shutdowns: UK readies for Brexit ‘no-deal’ chaos
26Dec By Desk TeamNo Comments
Market, World

Shortages, jams and shutdowns: UK readies for Brexit ‘no-deal’ chaos

LONDON: Food shortages, tailbacks and congested ports: As talks with Brussels remain unresolved three weeks before leaving the European Union single market, the United Kingdom is preparing for a chaotic "no-deal". Business groups this week warned of difficulties from Jan 1 as a frustrating lack of clarity on a post-Brexit trade deal has left many companies unable to plan properly. "While Britain's businesses are hoping that a Brexit deal will be reached, companies across many sectors will face disruption," said Darren Jones, chair of the parliament's Business, Energy and Industrial Strategy Committee, after meeting business representatives on Tuesday (Dec 8). Businesses warned of "potential food shortages and price rises, and the threat of heaping significant costs onto our car indu...
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The best high-yield savings and checking account offered by a big bank
26Dec By Desk TeamNo Comments
World

The best high-yield savings and checking account offered by a big bank

Editor's Note: APYs listed in this article are up-to-date as of the time of publication. They may fluctuate (up or down) as the Fed rate changes. CNBC will update as changes are made public. Brick-and-mortar banks may not be known for offering the highest rates, but many consumers find comfort putting their money into an established institution versus a newer online-only bank. Discover is a popular option, as the big-name financial institution still offers savers a competitive rate (unlike many brick-and-mortar banks), as well as other easy access to other Discover accounts that help you manage your money in one place. CNBC Select reviewed the high-yield savings accounts offered by the largest banks and/or credit unions, and we found that the Discover Online Savings Account ranks as our be...
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The deeply reported inside story of Instagram is the 2020 business book of the year, according to the FT
26Dec By Desk TeamNo Comments
World

The deeply reported inside story of Instagram is the 2020 business book of the year, according to the FT

UKRAINE - 2020/11/06: In this photo illustration an Instagram logo is seen displayed on a smartphone. (Photo Illustration by Valera Golovniov/SOPA Images/LightRocket via Getty Images) Looking for business books to inspire you or even to give as gifts? Here are the top business books of the year, according to The Financial Times and McKinsey, including their Business Book of the Year winner for 2020 and the five runners up for the award. 'No Filter: The Inside Story of How Instagram Transformed Business, Celebrity and our Culture' "No Filter," by Bloomberg reporter Sara Frier, was named the winner of the 2020 Business Book of the Year by the Financial Times and McKinsey on Tuesday. Bloomberg News Technology Reporter Sarah Frier speaks onstage during the Onward18 Conference - Day 1 on Oc...
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Airbnb doubles in US market debut, gaining elite status
26Dec By Desk TeamNo Comments
Market, World

Airbnb doubles in US market debut, gaining elite status

NEW YORK: Airbnb shares more than doubled in a sizzling US market debut on Thursday (Dec 10) which vaulted the home-sharing platform into an elite group of richly valued companies. Shares opened at US$146, a dizzying rise after the San Francisco-based firm priced them at US$68 for its initial public offering. They closed at US$144.71, a jump of 113 per cent in the market debut. At those levels Airbnb is worth more than US$100 billion, including options and restricted shares, up from the bumped-up US$47 billion at the IPO price. That puts the 13-year-old company on par with major global firms such as IBM, 3M and American Express, for example. Airbnb raised some US$3.4 billion in the offering amid a feverish rush for new shares in companies adapting to lifestyle changes imposed by t...
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Up to 1 billion people in Asia to face lethal heatwave conditions by 2050 due to climate change: Report
20Dec By Desk TeamNo Comments
Asia, China, Singapore, World

Up to 1 billion people in Asia to face lethal heatwave conditions by 2050 due to climate change: Report

BANGKOK: Up to 1 billion people in Asia could live in areas experiencing lethal heatwaves by 2050 as a result of worsening climate change, according to a new report by consulting firm McKinsey Global Institute (MGI). The modelling in the report outlines that severe heat is just one of the major risks forecast for the continent under RCP8.5, a worst-case scenario situation that could result without collective action to reduce carbon emissions. Without vastly improved action to reach the goals of the Paris Agreement, Asia is expected to see temperature rises of more than two degrees from pre-industrial levels. While much of the risk lies in subcontinental Asian countries such as India, Bangladesh and Pakistan, Southeast Asia would also face more frequent, dangerous heat conditions, ...
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