According to Wall Street analysts, Mastercard Inc and Visa Inc will rely on China reopening to boost travel spending as the pace of growth in other parts of the world slows from a post-pandemic boom. Executives from payment companies said on Thursday that there is still room for travel recovery in China, which reopened its…
Elon Musk told jurors on Monday that he was confident he had secured financial backing from Saudi investors in 2018 to take Tesla Inc private, and that he could even have used his stake in rocket company SpaceX to fund a buyout. During a five-hour trial in federal court in San Francisco, the billionaire, who…
The commerce minister of India has claimed that the iPhone maker Apple Inc. is planning to manufacture a quarter of all its iPhones in India. Apple is “another success story” for India, said Piyush Goyal, India’s minister of commerce and industry, while highlighting the success of the fifth-largest economy of the world. “They’re [Apple] already…
A French court has directed Uber to pay roughly 17 million euros ($18.43 million) in damages and lost wages to a community of drivers who contended they should have been regarded as employees instead of being regarded as being self-employed, according to reports quoting information from both the company and the representatives of the drivers involved…
The new owner of Twitter – Elon Musk, said in a tweet ion Saturday that there will be no advertisements for the users of a higher priced subscription of the social media platform. According to the tweet from the billionaire, ads are “too frequent on Twitter and too big,” and added that appropriate measures will…
According to a new report from the International Energy Agency, the world is entering a “new age of clean technology manufacturing” that could be worth hundreds of billions of dollars per year by the end of the decade, creating millions of jobs in the process. The IEA’s Energy Technology Perspectives 2023 report, which was released…
More on the mainland According to an investment fund manager, Chinese electronics manufacturers are poised to eat into market share held by Taiwanese rivals such as Foxconn and Pegatron. “Chinese companies are getting pretty competitive for iPhone assemblers. China is doing quite well in pretty much everything, except semiconductors,” Kirk Yang, chairman and CEO of…
Analysts predict that Chinese airlines will be the early winners of the country’s international reopening, having kept most widebody planes and personnel ready while foreign carriers struggled with capacity constraints following previous border openings. According to a McKinsey analysis of Cirium data, less than one-fifth of China’s widebody fleet of about 500 planes is in…
Despite the relaxation of Covid-related restrictions, the majority of Chinese people still don’t want to leave their apartments, according to a survey by Oliver Wyman. According to a survey conducted over the weekend, more than 90% of consumers said they were staying home. For at least the upcoming few months, nearly 60% of respondents said…
According to a Mastercard report released on Monday, US retail sales increased 7.6% between Nov. 1 and Dec. 24, which is the majority of the holiday season, as steep discounts enticed deal-hungry shoppers. The growth is greater than the 7.1% expansion Mastercard (MA.N) predicted in September, when it thought consumers would delay purchases until October…
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