Investigators for special counsel Robert Mueller have told associates that Attorney General William Barr inadequately characterized the findings of their inquiry, which they say could be worse for President Donald Trump than Barr suggested, The New York Times reported Wednesday. The officials didn’t elaborate, The Times reported, but it said […]
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MIT terminates funding and research links with China’s Huawei and ZTE
The Massachusetts Institute of Technology is terminating all research and funding links with Chinese tech firms Huawei and ZTE in light of recent U.S. federal probes, according to a letter from university officials. MIT is one of several prestigious academic institutions in the U.S. to announce an end to ties […]
Ethiopia report calls on Boeing to confirm control issues are fixed before 737 Max 8 flies again
Ethiopia said Boeing must review the “controllability” of the 737 MAX 8 aircraft model and that aviation authorities should verify the flight control system was “adequately addressed” by the U.S. plane manufacturer. A Boeing 737 Max 8 plane killed all 157 people on board on March 10 just minutes into […]
UK narrowly votes to delay Brexit again — but the EU could refuse
In another nail-biting vote in the U.K.’s Parliament, lawmakers voted by a majority of just one to force Prime Minister Theresa May to seek an extension to the Brexit process and avoid a no-deal departure. Members of Parliament (MPs) voted for the draft legislation on Wednesday evening to prevent a […]
Ethiopian report says crew followed procedures: source
A preliminary report on the crash of an Ethiopian airliner to be released on Thursday will say that the Boeing 737 MAX crew followed all procedures, a person familiar with the report said. The report will not explicitly mention Boeing’s anti-stall MCAS software which has been at the centre of […]
India central bank cuts rates by 0.25%, sees need to spur growth
India’s central bank cut its benchmark interest rate by 25 basis points on Thursday, in a widely expected move to boost the economy, while keeping its monetary policy stance “neutral” despite subdued inflation. The six-member monetary policy committee (MPC) cut the repo rate to 6.00 percent as predicted by 57 […]
UniCredit reportedly ready to make rival bid for Commerzbank if Deutsche talks fail
UniCredit is reportedly ready to make a rival bid for Commerzbank if merger talks with fellow German lender Deutsche Bank fail. The Financial Times, citing people familiar with the matter, reported Thursday that the Italian bank was prepared to make a multibillion-euro offer for a sizable stake in Commerzbank. Commerzbank […]
Global investors haven’t bought enough Asian stocks, Fidelity says
Asia — especially high-growth regions such as China, India and Southeast Asia — is under-represented in global stock portfolios, according to asset management firm Fidelity International. The region has been driving a lot of the outperformance in emerging markets, Medha Samant, investment director at Fidelity International, told CNBC on Wednesday. […]
Walmart upgrades its baby registry, hoping to woo new parents, and keep their business
Walmart announced its new online baby registry Thursday morning, as the world’s largest retailer continues its aim to grab the market share left by the Babies R Us liquidation. Online traffic to Walmart’s babies pages is up 30% year over year, according to the retailer, but a spokeswoman declined to […]
Tencent sells $6 billion in bonds, marking Asia’s biggest sale this year
Chinese tech giant Tencent announced Thursday that it would issue bonds worth $6 billion. The notes are expected to be issued on April 11, the company’s board said in a statement dated Wednesday U.S. time, and they will bring in net proceeds of about $5.98 billion. According to Reuters, Refinitiv […]