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Trump's China tech war backfires on automakers as chips run short

Automakers around the world are shutting assembly lines because of a global shortage of semiconductors that has been exacerbated by the US actions against key Chinese chip factories, officials said

JPMorgan profit jumps 42% on reserve release, investment banking strength

The big US lenders spent 2020 grappling with the economic fallout of the Covid-19 pandemic, setting aside billions to cover expected loan losses

China's fight against new wave of Covid infections clouds economic recovery

New cases in China are at 10-month highs

GE alleges Siemens Energy used stolen trade secrets to rig contract bids

The litigation is the latest legal battle involving the corporate rivals, which have squared off in lawsuits over patent infringement as recently as last year

At least 35 killed in 6.2-magnitude Indonesia earthquake, hundreds injured

A 6.2-magnitude earthquake on Indonesia's Sulawesi island killed 35 people and injured hundreds, with the meteorological agency warning of aftershocks, possibly strong enough to trigger a tsunami

Japan's exports seen rising for 1st time in 2 yrs, core CPI to drop: Report

Japan's exports likely rose for first time in two years in December as overseas demand improved but a continued surge in coronavirus cases and extended lockdowns could hurt shipments in coming months

Gold prices increase on Biden's stimulus plans, Fed's dovish stance

Gold rose as prospects of a substantial US pandemic relief package boosted the metal's appeal as an inflation hedge, while the Federal Reserve's dovish stance on monetary policy also supported prices

Carlos Ghosn hid scale of Nissan salary, fearing dismissal from Renault

Carlos Ghosn concealed the scale of his compensation at Nissan because he feared the French government would force him out of Renault if it discovered how much he earned, a court was told

Software firm SAP forecasts flat 2021 revenue after fourth-quarter recovery

SAP forecast flat revenue and a decline in operating profit in 2021, as it released preliminary annual results that came at the high end of guidance slashed last autumn

'Not the time' to discuss any change to bond purchases, says Fed's Powell

With the US economy still far from its inflation and employment goals it is too early for the Federal Reserve to discuss changing its monthly bond purchases, Fed Chair Jerome Powell said

US weekly jobless claims jump on Covid-19, renewed supplementary payments

The number of Americans filing first-time applications for unemployment benefits surged last week, confirming a weakening in labor market conditions as coronavirus affects businesses

AirAsia X shows court creditors' support for restructuring plan: Report

Most of AirAsia X's lessors support a restructuring plan, and the Malaysian airline has received interest from potential investors for fundraising after reorganisation, court documents show

Oil prices mixed as lockdowns in Chinese cities raise questions on demand

Oil prices were mixed as strong import data from China, the world's biggest crude importer, that boosted sentiment earlier ran into concerns about Chinese cities in lockdown due to coronavirus

Airbnb CEO says travel never going back to the way it was before pandemic

Airbnb CEO Brian Chesky predicted travel would permanently change due to the pandemic with people seeking out thousands of smaller cities and spending more time visiting friends and family

Heir to Samsung faces day of reckoning after four years of graft trial

A South Korean court will sentence Samsung heir Jay Y Lee on a bribery charge, a ruling likely to have ramifications not just for his company but for all of South Korea's chaebol conglomerates

GE alleges Siemens Energy used stolen trade secrets to rig contract bids

General Electric accused a Siemens Energy subsidiary of using stolen trade secrets to rig bids for lucrative contracts supplying gas turbines to public utilities, and cover-up improper business gains

Trump administration takes final swipes at China and its companies

Trump admin took another swipe at China and its biggest firms, imposing sanctions on officials and companies for alleged misdeeds in South China Sea and imposing an investment ban on nine more firms

Google closes Fitbit deal as US, Australia probe $2.1 billion transaction

Google closed its deal to buy fitness tracking company Fitbit, the companies said, even as US and Australian competition regulators said they were continuing probes of the $2.1 billion transaction

IMF urges countries to continue strong fiscal and monetary support

In October, the Fund forecast a 4.4% global GDP contraction for 2020, followed by a rebound to growth of 5.2% for 2021.

'Not the time' to discuss any change to bond purchases: Fed's Powell

Powell promised that would be the case with the current purchases as well.