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World / Business Standard

US President Biden's TikTok, oil moves test the loyalty of young voters

Recent moves by President Joe Biden to pressure TikTok over its Chinese ownership and approve oil drilling in an untapped area of Alaska are testing the loyalty of young voters, a group that's largely been in his corner. Youth turnout surged in the three elections since Donald Trump was elected president in 2016, helping Biden eke out victories in swing states in 2020, pick up a Democratic Senate seat in the 2022 election and stem potential losses in the House. But the 80-year-old president has

25 Mar 2023 7:01 pm
Apple CEO praises China's innovation, history of cooperation during visit

Cook is in Beijing to attend the China Development Forum, a government-organised event being held again in full force after the country ended its Covid controls late last year

25 Mar 2023 3:09 pm
Small US banks see record drop in deposits after SVB collapse: Fed data

Deposits at small banks fell $119 billion to $5.46 trillion in the week ended March 15

25 Mar 2023 3:06 pm
Afghanistan beats Pakistan for first time in Twenty20 international cricket

Afghanistan defeated Pakistan in a Twenty20 for the first time on Friday after the latter was restricted to 92-9. Pakistan, without five rested frontline players including captain Babar Azam, struggled on a slow and low pitch at Sharjah Cricket Stadium against the Afghans, whose six bowlers shared all nine wickets. Afghanistan overcame falling to 45-4 in the 10th over to cruise home at 98-4 and win by six wickets with more than two overs to spare. Mohammad Nabi raised Afghanistan's first victory

25 Mar 2023 2:55 pm
2 dead, 9 missing in chocolate factory blast in Pennsylvania: Police

An explosion at a chocolate factory in Pennsylvania Friday evening killed two people and left several others missing as investigators begin to determine a cause. West Reading Borough Police Department Chief of Police Wayne Holben confirmed there were two fatalities, nine people missing and several others injured by the explosion at the R.M. Palmer Co. plant in West Reading. The explosion at 4:57 p.m. sent a plume of black smoke into the air and resulted in the destruction of a building at the fa

25 Mar 2023 2:52 pm
Gordon Moore, credited for bringing PCs to millions of homes, dies at 94

Gordon Moore came up with the 'Moore's Law' that would push semiconductor companies to put billions of dollars into research and develop the industry at breakneck speed

25 Mar 2023 1:28 pm
Meta Platforms Inc sued by its home county over social media addiction

Issues around social media addiction were highlighted at a Congressional hearing Thursday

24 Mar 2023 10:13 pm
Donald Trump predicts 'death and destruction,' attacks Manhattan DA

New York City police officers put up security barricades outside Manhattan Criminal Court and Bragg's office earlier this week, but so far, protests have been minimal

24 Mar 2023 9:15 pm
How China, US and others watered down a key UN climate document

The US State Department declined to comment. A senior administration official defended the final IPCC summary for policymakers, saying it was clear about the critical message

24 Mar 2023 8:04 pm
European Union leaders grapple with banking crisis as economy weakens

European Union leaders gathered Friday to gauge the risk of a banking crisis developing from recent global financial turbulence and hitting the economy even harder than the energy crunch tied to Russia's war in Ukraine. The deliberations by EU government heads in Brussels follow US regulators shutting down two US banks, including Silicon Valley Bank, and a Swiss-orchestrated takeover of troubled lender Credit Suisse by rival UBS. The emergency actions on both sides of the Atlantic revived memori

24 Mar 2023 6:13 pm
Xiaomi's revenue and profit slides in Q4 due to China's Covid-19 curbs

The company's revenue for 2022 was 280.04 billion yuan, a drop of 14.7%, while net income came in at 8.52 billion yuan, down 61.4%

24 Mar 2023 5:19 pm
Hong Kong traffic accident leaves some 70 people injured including children

Four passenger buses and a truck collided near a Hong Kong road tunnel on Friday and about 70 people were injured, including children. Most of the injuries were minor. The accident occurred after midday near a tunnel entrance on Tseung Kwan O Road in Lam Tin, a residential area in Kowloon. Some 60 people sustained light injuries and around nine others suffered more serious injuries, police said. It was unclear what caused the collision. Scores of firefighters, paramedics and police rushed to the

24 Mar 2023 3:06 pm
Nuclear drone to generate 'radioactive tsumani' tested: North Korea

North Korea claimed on Friday to have tested a nuclear-capable underwater drone designed to generate a gigantic radioactive tsunami that would destroy naval strike groups and ports. Analysts were skeptical that the device presents a major new threat, but the test underlines the North's commitment to raising nuclear threats. The test this week came as the United States reportedly planned to deploy aircraft carrier strike groups and other advanced assets to waters off the Korean Peninsula. Militar

24 Mar 2023 1:33 pm
US Prez Biden's Canada agenda stocked from Ukraine to climate change

President Joe Biden arrives in Canada on Thursday with a focus on several of the world's largest challenges: the war in Ukraine, climate change, trade, mass migration and an increasingly assertive China. The administration has made strengthening its friendship with Canada a priority over the past two years and Biden's meetings with Canadian Prime Minister Justin Trudeau in the capital of Ottawa is an opportunity to set plans for the future. This visit is about taking stock of what we've done, wh

23 Mar 2023 11:07 pm
Sri Lanka's Election Commission postpones postal voting for local polls

Sri Lanka's election body on Thursday postponed the postal voting for the local body polls scheduled to take place next month due to a severe paucity of funds. The local body polls, which were earlier scheduled on March 9, got postponed to April 25, due to a plethora of reasons linked to Sri Lanka's current economic crisis. The Election Commission Director General Saman Sri Ratnayake on Wednesday met representatives of all the political parties seeking their opinion on whether postal voting shou

23 Mar 2023 9:25 pm
Defence budget readies US for possible China confrontation: Pentagon

The US military must be ready for possible confrontation with China, the Pentagon's leaders said Thursday, pushing Congress to approve the Defence Department's proposed USD 842 billion budget that would modernize the force in Asia and around the world. This is a strategy-driven budget and one driven by the seriousness of our strategic competition with the People's Republic of China, Defence Secretary Lloyd Austin said in testimony before the House Appropriations subcommittee on defence. Pointing

23 Mar 2023 9:19 pm
Dollar falls for sixth day, BoE, SNB, Norges Bank raise interest rates

Futures imply around a 50% chance of one more quarter-point hike, in contrast to Europe where markets see around 50 bps of further tightening

23 Mar 2023 8:16 pm
Beijing's population declines for first time in 19 years, shows report

For the first time in 19 years, Beijing witnessed a drop in its population drop in 2022, according to a media report

23 Mar 2023 1:35 pm
Citi names Indian origin Selva as COO to lead risk management overhaul

Veteran company executive previously handled roles in consumer banking, retail, cards

23 Mar 2023 12:03 pm
Canada lawmaker quits Justin Trudeau's party amid China allegations

A lawmaker said late Wednesday that he is stepping down from Prime Minister Justin Trudeau's Liberal party after a media report raised questions about his dealings with China, a claim that comes amid an investigation into allegations of Chinese meddling in Canada's elections. Member of Parliament Hang Dong said the report quoting anonymous sources was an attack on his reputation and his loyalty to Canada. He said he will leave the Liberals and sit in Parliament as an independent lawmaker to avoi

23 Mar 2023 10:58 am
S Korea co-sponsors UN resolution on Pyongyang rights after 5-yr hiatus

South Korea has co-sponsored a UN draft resolution on North Korea's human rights violations for the first time in five years, a diplomatic source said on Thursday.

23 Mar 2023 10:52 am
Apply for jobs, give interviews on tourist, biz visa in US: Federal agency

The US has announced that individuals travelling to the country on a business or tourist visa - B-1 and B-2 - can apply for new jobs and even appear in interviews, but the prospective employees must ensure that they have changed their visa status before starting a new role. B-1 and B-2 visas are generally referred to as B visas, and they are the most common types of visa issued for a wide range of uses in the United States. The B-1 visa is issued mainly for short-term business trips, while the B

23 Mar 2023 10:08 am
UK Foreign Secretary says attack on Indian High Commission 'unacceptable'

UK Foreign Secretary James Cleverly responded to the attack on Indian High Commission and called the attack by the Khalistani elements unacceptable in a statement on Thursday

23 Mar 2023 10:05 am
Security beefed up around Indian Consulate in San Francisco amid protest

The protesters included turbaned men of all ages who chanted pro-Khalistan slogans. They came in from different parts of the Bay area

23 Mar 2023 9:27 am
Macron pushes forward controversial pension reform despite tensions

French President Emmanuel Macron has said that his government's controversial pension reform plan should become law before the end of the year

23 Mar 2023 9:23 am
Credit card debt at record high as US Fed Reserve raises rates again

As the Federal Reserve raises interest rates again, credit card debt is already at a record high, and more people are carrying debt month to month. The Fed's interest rate increases are meant to fight inflation, but they've also led to higher annual percentage rates (APRs) for people with credit card debt, which means they pay more in interest. The Fed announced Wednesday that it would increase rates another quarter of a point. With inflation still high, people are leaning on their credit cards

23 Mar 2023 8:01 am
First Republic Bank's rating downgraded to 'B' by Fitch amid cash crunch

The bank is currently operating at a loss and that is not sustainable over the longer term absent a balance sheet restructuring, they said

23 Mar 2023 7:59 am
TikTok CEO plans to tell Congress app is safe to use, urge against ban

TikTok's CEO plans to tell Congress that the video-sharing app is committed to user safety, data protection and security, and keeping the platform free from Chinese government influence. Shou Zi Chew is due to answer questions on Thursday from US lawmakers concerned about the social media platform's effects on its young user base and possible national security risks posed by the popular app, which was founded by Chinese entrepreneurs. Chew is sticking to a familiar script as he urges officials a

22 Mar 2023 5:59 pm
Central banks in spotlight as US authorities focus on financial stability

SVB's collapse kicked off a tumultuous 10 days for banks which led to the 3 billion Swiss franc ($3.2 billion) Swiss regulator-engineered takeover of Credit Suisse by rival UBS

22 Mar 2023 5:18 pm
North Korea test-fires cruise missiles towards Eastern water, says S Korea

South Korea says North Korea has test-launched multiple cruise missiles toward the North's eastern waters. The launches on Wednesday are the North's fourth weapons tests since the US and South Korean militaries began large-scale military drills last week. North Korea views the drill as a preparation to attack it. The US-South Korean military drills are to end on Thursday. South Korea's Joint Chiefs of Staff said North Korea fired several cruise missiles from its northeastern coastal town of Hamh

22 Mar 2023 2:56 pm
Japan's Kishida, Zelenskyy hold talks on wide-ranging issues in Kyiv

Japanese Prime Minister Fumio Kishida and Ukraine President Volodymyr Zelenskyy held bilateral talks in Kyiv on Tuesday and discussed wide-ranging issues as they condemned Russian aggression

22 Mar 2023 2:55 pm
Russia ready to switch to yuan in foreign trade, says Vladimir Putin

Russia is ready to increase settlements in yuan in its foreign trade, President Vladimir Putin said during talks with his Chinese counterpart Xi Jinping

22 Mar 2023 1:17 pm
EU condemns gender-based discrimination by Taliban in Afghanistan

Where activities cannot be continued in line with the EU's principled approach, the EU support to those activities will be reconsidered, the statement said

22 Mar 2023 12:00 pm
At least 3 killed, 44 injured after 6.8 magnitude quake jolts Afghanistan

The death toll stands at three after a powerful earthquake of magnitude 6.8 jolted Afghanistan on Tuesday, Khaama Press reported citing the Taliban-led Ministry of Public Health of Afghanistan.At least 44 people have been injured due to the quake, the strong tremors of which were also felt in Pakistan.However, the casualties may rise as the earthquake reported was powerful and felt in most parts of the country.There could be more casualties as the quake was so powerful in most parts of the count

22 Mar 2023 11:53 am
TikTok CEO warns users about ban ahead of US Congress hearing on March 23

Shou Zi Chew, the CEO of Chinese short-form video platform, which faces a nationwide ban in the US, has warned users as he prepares to appear before the US Congress on March 23

22 Mar 2023 11:08 am
Ex British PM Johnson admits misleading parliament in 'partygate' scandal

I accept that the House of Commons was misled by my statements that the rules and guidance had been followed completely at No.10, Johnson said on Tuesday

22 Mar 2023 9:27 am
Milwaukee mass shooting kills teenage boy, injures 5 women, says police

A 15-year-old boy died and five young women were injured in a Milwaukee mass shooting in the latest violence to target the city's young people, police said. The 15-year-old boy died at the scene following the shooting that occurred about 11:30 p.m. Monday on the city's north side, Milwaukee police said. The Milwaukee County Medical Examiner's Office identified the boy as Davion Patterson. Five women, ages 18, 19, 21, and two 22-year-olds, were taken to a hospital for treatment of non-fatal injur

22 Mar 2023 9:26 am
Japanese Prime Minister Fumio Kishida arrives in Kyiv for surprise visit

Japanese Prime Minister Fumio Kishida arrived in Kyiv for a surprise visit Tuesday, according to Japan's NHK. Footage from the national broadcaster showed Kishida walking on the platform of a train station, escorted by a few people who appeared to be Ukrainian officials. His visit comes as Chinese President Xi Jinping meets with Russian officials in Moscow, where he invited President Vladimir Putin to a summit in Beijing later this year.

21 Mar 2023 5:32 pm
An earthquake of 4.5 magnitude hits Litayan in Philippines, says USGS

The earthquake occurred at 02:43:27 (UTC+05:30) and hit Litayan, Philippines on Tuesday, at a depth of 592.5 km, the USGS informed

21 Mar 2023 9:34 am
Biden signs bill to declassify information related to origins of Covid

US President Joe Biden on Monday signed a Bill, the COVID-19 Origin Act of 2023, that requires the Director of National Intelligence to declassify information related to the origins of COVID.The US President in a statement on Monday said: My Administration will continue to review all classified information relating to COVID-19's origins, including potential links to the Wuhan Institute of Virology; will declassify & share as much of that information as possible.\Today, I am pleased to sign into

21 Mar 2023 9:26 am
To calm turmoil, UBS to buy Credit Suisse in $3.25 billion rescue deal

Banking giant UBS is buying troubled rival Credit Suisse for almost USD 3.25 billion, in a deal orchestrated by regulators in an effort to avoid further market-shaking turmoil in the global banking system. Swiss authorities pushed for UBS to take over its smaller rival after a plan for Credit Suisse to borrow up to 50 billion francs (USD 54 billion) failed to reassure investors and the bank's customers. Shares of Credit Suisse and other banks plunged this week after the failure of two banks in t

20 Mar 2023 9:30 am
Joe Biden calls Israeli PM Benjamin Netanyahu with judicial plan 'concern'

President Joe Biden spoke Sunday with Israeli Prime Minister Benjamin Netanyahu to express concern over his government's planned overhaul of the country's judicial system that has sparked widespread protests across Israel and to encourage compromise. The White House said Biden reiterated U.S. concerns about the measure to roll back the judiciary's insulation from the country's political system, in a call a senior administration official described as candid and constructive. There was no immediat

20 Mar 2023 9:28 am
Ahead of Xi's visit to Russia, Putin accuses West of fueling Ukraine crisis

Putin also said that the international security and cooperation architecture is being dismantled. Russia has been labeled an 'immediate threat' and China a 'strategic competitor'

20 Mar 2023 9:20 am
IMF to approve $2.9 bn bailout package for Sri Lanka: Central bank governor

The IMF package will include budgetary support to Sri Lanka's government, which is a new element in IMF lending, he added

19 Mar 2023 5:15 pm
Disney instructs to identify layoff candidates, may cut 4K jobs in April

It is unclear whether Disney will start laying off employees in small batches or lay off thousands all at once

19 Mar 2023 1:28 pm
As US-S Korea conduct military drills, N Korea launches missile into sea

Japan says North Korea has launched a suspected missile toward the sea. Japan's coast guard said it confirmed that what appeared to be a North Korean missile was fired Sunday morning. Further launch details were not immediately available, it said. South Korea's Yonhap news agency cited the South's military as saying that North Korea had fired a ballistic missile toward its eastern waters. Calls to the South's Joint Chiefs of Staff were not immediately answered on Sunday. The launch, if confirmed

19 Mar 2023 9:20 am
Japan will carefully monitor investigation against Putin: PM Kishida

Japan will carefully monitor the developments of an investigation against Russian President Vladimir Putin, said Japanese Prime Minister Fumio Kishida on Saturday, reported Kyodo News

19 Mar 2023 9:18 am