As Moscow tries to ease trade with India in the face of Western sanctions, three Russian insurance companies have received financial support from Russia’s state-owned reinsurer, enabling them to obtain Indian approval to offer marine insurance coverage to tankers, according to two sources. Due to a series of sanctions imposed by the United States and…
If ByteDance, the company that owns TikTok, uses all of its legal options to oppose legislation that would remove the platform from U.S. app stores, the Chinese business would sooner close down its loss-making app than sell it, according to four people. According to people close to ByteDance, the algorithms TikTok uses to run its…
Although there isn’t much competition in India’s electric vehicle market now, foreign automakers like Tesla will level the playing field, according to MG Motor India CEO Emeritus Rajeev Chaba. Currently, there isn’t much competition. Because consumers don’t have many attractive options, numbers are still limited, Chaba said to CNBC’s Sri Jegarajah in Gurugram, India. About…
As consumers brushed aside concerns of a weakening economy to swipe cards on everything from travel to dining out, Visa’s second-quarter profits blew past Wall Street estimates on Tuesday, sending its shares up 2.7% after the bell. Despite higher loan rates for longer periods of time, U.S. consumer spending has been impressively robust, with consumers…
According to market statistics, Apple suffered from Huawei’s new product introductions in the premium class, which caused the iPhone maker’s smartphone shipments in China to fall 19% in the first quarter of the year—the lowest level since 2020. From 19.7% a year earlier, Apple’s share of the largest smartphone market in the world dropped to…
Western officials have expressed concern over TikTok’s growing popularity among youth, claiming the platform is controlled by Beijing and used as a propaganda tool. Bytedance, the company’s owner, has refuted these accusations. A possible US app ban, according to TikTok, would “trample the free speech” of 170 million people. On Saturday, the US House of…
The global shipping sector stated in a letter released on Friday that with attacks in the Middle East intensifying, merchant ships and seafarers are becoming increasingly at danger at sea, and the UN needs to take more action to safeguard supply chains. Since Israel began its war in Gaza in October, tensions have increased throughout the Middle…
According to three people with direct knowledge of the situation, UBS is cutting costs associated with its operations in China by closing portions of its private funds business and laying off one-third of its workforce. According to two of the three sources, UBS plans to close up to 17 of its 19 equities and bond…
Apple said on Friday that it has taken Meta Platforms’ WhatsApp and Threads down from the Chinese App Store at the behest of the Chinese government, which used the excuse of national security issues. Two more international chat applications, Telegram and Signal, were also taken down from the market on Friday, according to app tracking…
Legal experts say that Tesla and Elon Musk are attempting to resurrect Musk’s $56 billion compensation plan by utilising a little-known corporate law provision. This is an unproven strategy that might land the business in legal hot water once more. Despite the fact that a Delaware judge had revoked Musk’s 2018 compensation agreement in January,…
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