Biden to strike China with tougher regulations on U.S. tools & chip imports
The Biden administration intends to broaden curbs on American shipments of semiconductors used in chip manufacturing and artificial intelligence to China starting next month.Officials, who spoke on the condition of anonymity, revealed that the Commerce Department plans to publish proposed rules based on restrictions conveyed in letters to three American companies earlier this year: Lam […]
EU intends to cap Russian gas rates as Putin cautions a frost warning
President Vladimir Putin threatens to shut off all energy supplies if the European Union placed a price restriction on Russian gas on Wednesday, increasing the possibility of rationing this winter in some of the richest nations in the world.The increasing conflict might increase already exorbitant European gas prices, adding to the already staggering costs that […]
U.S. canned cocktails await Suntory as Japanese market withdraws
The Japanese beverage company Suntory Inc. introduced a powerful, lemony beverage in Australia last year, and it swiftly rose to the top of the country’s canned cocktail market. The company is currently working to repeat that performance in North America, which is essential to achieving its goal of dominating the fastest-growing market for alcoholic beverages […]
EU gas markets prepare for price hike after latest Russia gas curtailment
When the markets open on Monday, European gas consumers who are already suffering from record-high prices will suffer even more as Russia said that one of its main supply pipes to Europe would remain closed indefinitely, raising concerns about possible energy restrictions.Lower Russian gas exports before and during its invasion of Ukraine in February had […]
U.S. regulators will review the audits of Alibaba and other Chinese companies
Three sources familiar with the situation said that U.S. officials had chosen e-commerce behemoth Alibaba Group Holding Ltd (9988.HK) as well as other U.S.-listed Chinese corporations for audit inspections beginning next month.The action comes after Beijing and Washington struck a historic audit agreement on Friday that allows American regulators to review accounting firms in Hong […]
Attorneys caution that the U.S.-China audit agreement is not finalised yet
After Beijing and Washington reached a long-awaited audit agreement, investors in U.S.-surveyed Chinese companies experienced a great deal of comfort; however, legal experts and China watchers caution the two sides could still disagree over how the agreement is understood and put into practise.Since more than ten years ago, U.S. officials have wanted access to the […]
Global recession danger is increasing as consumer price inflation takes a toll
According to surveys released on Tuesday, the probability of a worldwide recession is rising as consumers cut down on purchases in response to inflation that is at a generational high and as central banks aggressively tighten monetary policy at a time when it is most needed. Additionally, Russia’s invasion of Ukraine plus China’s severe COVID-19 […]
How will Philips’ recall of sleep apnea equipment affect consumers?
Physicians are trying to find replacements for the expanding number of individuals who use them after a widespread recall of Philips (PHG.AS) respiration machines in 2021 due to a risk of serious damage. The 5.5 million gadgets, which include manual ventilators and non-invasive breathing devices intended to treat sleep apnea, a disorder characterised by brief […]
CEO of Philips retires amidst a huge recall which is underway
The Dutch health technology giant Philips (PHG.AS) announced on Tuesday that Frans van Houten, the Chief Executive will depart the company in October. This comes after a significant product recall reduced Philips’ market value by more than half during the previous year. Philips outed that Roy Jakobs, who is in charge of the group’s Connected […]
Amin Nasser, a Saudi Aramco native engineer who rose to the top
At a business gathering in Riyadh this year, the Saudi gas minister paused at around 9 o’clock and informed the crowd that Amin Nasser, the president of state-owned oil company Saudi Aramco, had to go to bed. He wasn’t saying that lightly. In his four decades of work, Nasser has developed a reputation for a […]