Asian stocks perked up on Thursday after U.S. Federal Reserve Chair Jerome Powell reaffirmed interest rates would stay low, calming market fears that higher inflation might prompt the central bank to tighten the monetary spigot.
Australian carrier Qantas reported a US$5.5 billion plunge in revenue during the second half of 2020 and said international passenger flights would not resume until October as the pandemic continued to devastate the industry.
The Australian parliament on Thursday passed a new law designed to force Alphabet Inc's Google and Facebook Inc to pay media companies for content used on their platforms in reforms that could be replicated in other countries.
The Australian Parliament on Thursday passed the news media and digital platforms mandatory bargaining code that would make it compulsory for Alphabet Inc's Google and Facebook Inc to pay media companies for content.
One of the European Union's most powerful data regulators has warned companies may yet face massive disruption to translatlantic data flows as a result of an EU court ruling last year, despite efforts by policymakers to avoid that outcome.
UOB’s net profit for its fourth quarter fell 32 per cent as net interest income declined.
UOB, a strong player in the small- and medium-sized enterprises space, does not see concentrated risks in its loan book, estimating credit costs for the year at 30-40 basis points.
Reddit recovered from an hour-long outage that affected thousands of users on Wednesday afternoon as volatility returned to stocks including GameStop GME.N> and AMC that were at the center of a slugfest between retail traders and Wall Street.
JPMorgan Chase & Co pledged another US$350 million on Thursday to help grow Black, Latinx and women-owned businesses, part of a broader effort at the bank to help close the U.S. racial wealth gap.
Facebook Inc is exploring potential licensing agreements in the coming year with Canadian media outlets and expanding its investment in local journalism initiatives, a source familiar with the company's thinking said on Wednesday.
