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Category: Business

Explainer: How does China’s digital yuan work?

October 28, 2020October 22, 2020gtstimecom

China on Sunday concluded its largest pilot project to date for a central bank-backed digital yuan, with analysts saying the trial extended its lead in the global race to develop a central bank digital currency (CBDC). Under the trial programme, the central bank distributed “red envelopes” – a reference to China’s traditional way of gifting […]

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New BA boss urges transatlantic testing and corridors

October 27, 2020October 22, 2020gtstimecom

British Airways’ ICAG.L new boss appealed to Britain and the United States on Monday to back pre-flight COVID-19 testing with quarantine-free transatlantic travel corridors. “We need to work together on a testing pilot so flights can start between London and New York, traditionally one of the busiest airline routes in the world,” Sean Doyle said […]

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Welcome aboard, sort of: How to start a new job in 2020

October 26, 2020October 22, 2020gtstimecom

Sometimes Cara Tocci feels like she is living in an underground bunker in a very strange world, like a character from the television series “Lost.” During this very curious moment in human history, Tocci started a new job as vice president of global corporate communications at sneaker and apparel giant Foot Locker. “I’ve never even […]

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Wall Street bullish on Netflix results despite return of live sports, more competition

October 25, 2020October 22, 2020gtstimecom

Netflix Inc will tell investors on Tuesday how the ongoing COVID-19 pandemic affected membership in the third quarter – a period when analysts remain bullish on the company despite the return of live sports and more streaming competition. Shares of the online video pioneer, trading close to an all-time high at $530.79 on Friday, have […]

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EU set to gain WTO clearance for U.S. tariffs next week

October 24, 2020October 22, 2020gtstimecom

The European Union should gain formal clearance next week to impose tariffs on $4 billion of annual U.S. imports in a dispute over aircraft subsidies, a World Trade Organization document showed on Monday. The EU won the right to retaliation in its dispute with the United States over subsidies to planemaker Boeing BA.N this month, […]

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Japan to join forces with U.S., Europe in regulating Big Tech firms: antitrust watchdog head

October 23, 2020October 22, 2020gtstimecom

Japan will join forces with the United States and Europe to take on any market abuses by the four Big Tech companies, the new head of its antitrust watchdog said on Monday, a sign Tokyo will join global efforts to regulate digital platform operators. Kazuyuki Furuya, chairman of Japan’s Fair Trade Commission (FTC), also said […]

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Alibaba shops for hypermarket chain Sun Art in $3.6 billion deal

October 22, 2020gtstimecom

Alibaba Group Holdings BABA.N9988.HK said on Monday it will invest $3.6 billion to acquire a controlling stake in hypermarket operator Sun Art Retail Group Ltd 6808.HK, gaining further ground in China’s retail market. The e-commerce giant is hoping to further leverage its digital presence to support Sun Art’s 481 hypermarkets and three mid-size supermarkets in […]

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