Best Buy, the largest U.S. consumer electronics retailer, will cut ties with China’s Huawei Technologies, a person familiar with the matter said, amid heightened scrutiny on Chinese tech firms in the United States. Best Buy will stop selling Huawei’s devices over the next few weeks, according to the person with […]
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China will win the A.I. race, according to Credit Suisse
The two largest economies in the world are dominating global research and development in the artificial intelligence field, but China is likely to emerge the winner, according to Credit Suisse. That prediction was based largely on one reason: China lacks “serious law” about data protection, which gives companies pretty much […]
The five biggest global political risks for the rest of 2018
Four of the five biggest threats to the global political system this year are directly related to President Donald Trump’s administration, according to an assessment from a Washington-based policy think tank. “What’s worrisome about the first days of President Trump’s second year is that the political stress emanating from Washington […]
Chinese consumers are increasingly preferring to buy domestic: Credit Suisse
Chinese consumers, especially the younger ones, increasingly favor local brands, a Credit Suisse survey has found. The bank, which released the Emerging Consumer Survey report Wednesday, found 19 percent of Chinese consumers surveyed saying local sportswear brands are worth paying for. That’s an improvement from the 15 percent who said […]
Asian shares trade mixed after Fed raises rates; dollar downbeat
Asian markets traded mixed Thursday in what proved to be a choppy session after the U.S. Federal Reserve raised interest rates for the first time this year. Japan’s Nikkei 225 rose 0.74 percent and the broader Topix edged up by 0.38 percent, with the mining and oil sectors climbing 4.53 […]
Zuckerberg: I haven’t seen a ‘meaningful number of people’ deleting Facebook accounts
Facebook CEO Mark Zuckerberg has not seen a “meaningful number of people” deleting their accounts in the wake of the Cambridge Analytica data scandal, he told The New York Times on Wednesday evening. Facebook has been under fire after reports in The Observer and The New York Times said London-based […]
Singapore wins sixth consecutive title of ‘world’s best airport’
Singapore’s Changi Airport has been named “world’s best airport” for the sixth consecutive year — as regional rival Hong Kong came in fourth place. The 2018 iteration of the annual World Airport Awards from research group Skytrax was based on 13.73 million survey questionnaires across more than 500 airports worldwide, […]
Tractor maker Deere & Co fears a hit from Trump tariffs and retaliation on US exports
U.S. tractor maker Deere & Co is bracing for a negative financial impact from U.S. tariffs on steel imports and worries that retaliatory tariffs on American agricultural exports could follow, Chief Executive Samuel Allen told Reuters in an interview on Wednesday. The 25 percent tariffs, which U.S. President Donald Trump […]
Asian shares edge higher after Fed raises rates; dollar downbeat
Asian markets rose on Thursday after the U.S. Federal Reserve raised interest rates for the first time this year. Japan’s Nikkei 225 rose 0.84 percent and the broader Topix edged up by 0.46 percent, with the mining and oil sectors climbing 4.5 percent and 2.8 percent, respectively, in early morning […]
Mark Zuckerberg says he’s ‘really sorry’ about the company’s data scandal
Facebook CEO Mark Zuckerberg has explicitly apologized forthe Cambridge Analytica data scandal that’s been making headlines over the last several days. “This was a major breach of trust, and I’m really sorry that this happened,” Zuckerberg said on CNN Wednesday evening, elaborating on the statement he posted to his Facebook […]