Commercial

US airlines won’t immediately bring Boeing 737 MAX back to the skies even if FAA says it’s good to go – reports

Aiming to win back public confidence in the Boeing 737 MAX, major US airliners are reportedly planning to hold demonstration flights with senior company officials, but not real passengers, on board to prove the model is safe.

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WTO Allows China to Impose Retaliatory Measures Worth $3.6 Bln Against US

This comes amid US President Trump’s announcement that the signing site of the ‘phase one’ trade deal with China would be announced ‘soon’. A World Trade Organization’s arbitrator ruled Friday that China could impose $3.6 billion worth of tariffs on US goods over its unfair anti-dumping practices.

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Half the world’s banks are too weak to survive downturn $

A new survey from consultancy McKinsey & Co has found that a majority of banks globally may not be economically viable because their returns on equity aren’t keeping pace with costs. The study looked at 1,000 banks in developed and emerging countries and found that just over a third had made a return on capital […]

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EU ‘Regrets’ Record US Tariffs Over Airbus, Sees no Other Way but to Retaliate – Trade Chief

The statement comes in response to the imposition of tariffs by the United States on a record $7.5 billion worth of EU goods, after the WTO ruled that EU nations gave illegal state aid to Airbus.

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Iran, Russia Turn to Trade in National Currencies to Ditch Dollar

Last week, the Trump administration imposed new economic sanctions against Iran, targeting its central bank and its sovereign wealth fund. The head of Iran’s Central Bank Abdolnaser Hemmati said Wednesday that Iran and Russia have turned to bilateral trade in national currencies as both countries fall under US sanctions.

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Chinese Negotiators Cancel Earlier Planned Trip to US Farms, Leaving Washington Early

Chinese trade negotiators suddenly changed their plans on Friday, cancelling a visit to meet US farmers after they wrapped up trade talks in Washington this week. The Chinese delegation has changed its travel schedule heading back to China earlier than planned, according to Nicole Rolf, the Montana Farm Bureau Federation’s director of national affairs.

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Facebook’s latest data breach feeds a list of HUNDREDS OF MILLIONS of its privacy abuse victims

Mark Zuckerberg’s mission to rehabilitate Facebook’s image is not going well. Since announcing a revamped “privacy-focused vision” for the company just months ago, it has faced multiple new and major security breaches.

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Brace for higher prices: New round of US-China tariffs comes into force

The trade war between the world’s two largest economies entered a new phase on Sunday, as US tariffs targeting Chinese-made products and Beijing’s retaliatory hikes on American imports both kick in.

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All Fair in Trade War? White House Aides Claim Trump Faked Phone Call with China – Report

It is alleged that the phone call, in which Chinese officials invited their US counterparts to resume trade talks, didn’t happen the way Donald Trump described it did. The POTUS has yet to comment on the speculation.

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Security Flaw Let Hackers Snoop on iPhone Users and Steal Their Data for Years, Google Reveals

There is no word on how many iPhones could have been impacted by the recently-discovered exploit, but they could number in the thousands in a worst-case scenario. Project Zero, a group of Google security analysts detecting and exploring zero-day vulnerabilities in popular software products, has reported a long-time hack in iPhones that helped crooks steal […]

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Russian telecom giant & China’s Huawei launch 5G zones in Russian cities

Russian mobile operator MTS has teamed up with Chinese tech giant Huawei for a 5G pilot scheme in Moscow and Kronshtadt, where for the first time the super-fast network will cover almost the entire city. The agreement between the two parties was signed during Chinese President Xi Jinping’s visit to Russia in June, when he […]

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Russian company taking Boeing to court in first lawsuit over 737 MAX planes

A Russian aircraft leasing company has filed a lawsuit in Chicago against Boeing to cancel its purchase of the grounded 737 MAX planes in the first court case of its kind after two deadly air crashes involving the planes.

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Dow Jones tanks 600+ points as Trump trades barbs with Beijing and the Federal Reserve

The Dow Jones saw a steep drop of 700 points after a threat from Beijing to slap new tariffs on billions of dollars in American goods, and a harsh response from US President Donald Trump, but picked up before ending 621 down.

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Full-on trade war: Trump jacks up tariffs on $550bn of Chinese goods, blasts ‘unfair’ response

US President Donald Trump has announced yet another major hike of existing and future tariffs on some $550 billion in Chinese goods, criticizing Beijing’s attempt to offset the losses as ‘unfair’ and ‘politically motivated.’

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Chinese app beats US tech giants like Apple, Amazon to be crowned world’s most innovative company

The world’s two most innovative companies this year are both from Asia, with Chinese tech platform Meituan Dianping unseating 2018 champion and Silicon Valley giant Apple, according to ratings by US business magazine Fast Company.

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