Markets

BMW, Daimler and Ford have set up facilities in China to store data generated by their cars locally, they told Reuters, as automakers come under growing pressure in the world's biggest car market over how they handle information from vehicles.

A Russian court on Thursday said it had fined Tiktok 1.5 million roubles (US$20,425) over a failure to delete content Moscow deems illegal, part of a broader standoff between Moscow and big tech companies.

WASHINGTON: The number of Americans seeking unemployment benefits dropped last week to 406,000, a new pandemic low and more evidence that the job market is strengthening as the virus wanes and economy further reopens. Thursday’s report from the Labor Department showed that applications declined 38 ...

WASHINGTON: The US economy grew at a robust annual rate of 6.4 per cent in the first three months of this year, unchanged from the government's initial estimate. The recovery from last year's deep recession gained steam has been helped by vaccines to combat the virus and trillions of...

REUTERS: Acorns Grow Inc said on Thursday it was going public through a merger with blank-check company Pioneer Merger Corp in a deal valuing the savings and investing app at about US$2.2 billion. Acorns Grow will receive cash proceeds of over US$450 million from the deal, which includes a...

General Motors Co said Thursday it will be soon be restarting production at five assembly plants around the world that have been idled due to a global semiconductor chips shortage.

India's state-run Bharat Petroleum Corp could annually take up to 2 million tonnes of Iranian oil if the OPEC member offers concessions to make its crude oil attractive compared to rival grades, a company official said on Thursday.

OECD chief Angel Gurria said on Thursday he expects all the necessary elements for a global accord on taxing tech giants to be ready by June or July thanks to a sharp shift in the U.S. stance on the initiative.

HANOI: Vietnam on Thursday denied a U.S. Commerce Department's finding that said the country's car and light truck tires are being unfairly subsidised due to a currency undervaluation. "Vietnam doesn't dump nor subsidise its automobile tires for exports, and doesn't manipulate currency to gain ...

Chinese regulators including the central bank will crack down on manipulation of the forex market, according to a statement on Thursday on the central bank's website.