US banks set aside billions as buffer against bad loans

Three major US banks have set aside an additional $23 billion as a backstop against bad loans, highlighting the brittle state of the US economy due to the coronavirus pandemic, the companies said Tuesday.

Business

China's trade rises as economy recovers from virus slump

China's trade improved in June in a fresh sign the world's second-largest economy is recovering from the coronavirus pandemic. But its exporters face threats including tension with Washington and a possible downturn in U.S. ...

Business

Tencent profits up as gamers stay home but WeChat ban looms

Chinese tech firm Tencent, the parent company of social media giant WeChat, said Wednesday its revenue jumped 28 percent in the first half of this year as the coronavirus pandemic kept people glued to their screens.

Business

Global watchdog proposes tax overhaul for Big Tech

A global economic watchdog on Monday proposed an overhaul of international tax rules to make sure big tech companies pay their dues, and warned that failure to adopt it would make the economic recovery from COVID-19 harder.

Business

Emirates set for Boeing talks on 777X delays: CEO

Emirates Airline will hold talks with US aviation giant Boeing over the delayed 777X "before and during" this month's Dubai Air Show, the company's chief executive said on Monday.

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