FTX founder Bankman-Fried’s colleagues plead guilty to fraud
Gary Wang and Caroline Ellison have agreed to cooperate with the authorities, according to US prosecutors.
Category Archives: Economy
Musk says to step down as Twitter CEO after successor found
Musk says he will step down from platform as soon as he finds someone "foolish enough to take the job".
World Bank slashes China’s growth outlook to 2.7 percent in 2022
US-based institution sees China's economy growing 4.3 percent next year, down from 8.1 percent.
China’s smartphone giant Xiaomi slashes workforce: reports
Chinese smartphone maker says it has implemented routine "personnel optimisation and organisational streamlining".
Democratic stronghold Washington state may join GOP’s TikTok bans
Washington state is considering banning the Chinese-owned app for government business amid national security concerns.
China calls for ‘arduous efforts’ to revive economy
State planner's comments come after the release of worse-than-expected economic data for November.
Twitter suspends journalists who report on Elon Musk
Twitter owner accuses journalists of endangering his family as press groups condemn suspensions.
Apple looks beyond ‘iPhone factory’ China as dalliance sours
Tech giant is seeking to redirect supply chains to India and Vietnam amid fears of overdependence on China.
China’s retail, factory output slump as COVID curbs hit growth
Factory output and retail sales missed forecasts in November amid lockdowns and weakening global demand.
Australia accuses Apple, Microsoft of overlooking child sex abuse
Internet safety watchdog says tech giants should automatically scan for child exploitation material on their services.
China readying $143bn package for chip firms in face of US curbs
Beijing to roll out subsidies and tax credits to bolster semiconductor production and research, sources say.
Squeezed between China and Russia, Mongolia’s herders feel pinch
Mongolian tent-dwellers face growing hardship amid skyrocketing energy costs and falling livestock prices.
Australia lifts interest rates, adding to mortgage pain
Reserve Bank of Australia lifts benchmark rate to 3.1 percent in effort to bring down high inflation.
Fuel runs dry at South Korean petrol stations as truckers strike
Nearly 100 petrol stations across country run out of fuel as 25,000 truckers demonstrate over pay.
Chinese cold on overseas travel even if COVID curbs ease: survey
Fear of infection listed as top concern of those who are reluctant to travel in survey of 4,000 Chinese consumers.
China’s BYD says it will start selling EVs in Japan by early 2023
The world's largest EV maker plans to roll out the ATTO 3 sports utility vehicle in Japan starting January.
South Korea’s Yoon promises support to boost exports
South Korean leader also pledges to expand free trade agreements into Middle East, Central and South America.
FTX’s Bankman-Fried says he will testify before US Congress
FTX founder says he will testify when he has 'finished learning and reviewing' collapse of cryptocurrency exchange.
IMF head flags inflation, China slowdown as risks to Asia
Kristalina Georgieva says Southeast Asian economies are 'bright spot' in the global economy.
Australia says law making Google pay for news a ‘success’
Treasury report says media outlets have signed more than 30 deals compensating them for news shared on platforms.