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Oil giant BP cuts thousands of jobs to slash costs
British energy giant BP on Thursday said it would axe 4,700 staff jobs, or about five percent of its workforce, and is cutting thousands of contractor roles to reduce costs.
China to probe US chips over dumping, subsidies
China said Thursday it would launch a probe into US exports of chips used in everything from cars to home appliances over concerns about alleged dumping and subsidies. Beijing did not say when the probe would be launched, nor how long it would take.
Chinese apps including TikTok hit by privacy complaints in Europe
Online privacy campaigners said Thursday they had filed complaints in several European countries against six Chinese companies including TikTok, accusing them of "unlawfully" sending Europeans' personal data to China.
Apple loses top spot in China smartphone sales to local rivals
Apple lost its status as the best selling smartphone brand in the crucial Chinese market last year, new data showed Thursday, with a pair of local rivals surpassing it with surging shipments. Also coming in at 15 percent, with total smartphone sales narrowly behind Apple's, were Chinese brands Oppo and Honor, the data showed.
Sri Lanka signs landmark $3.7 bn deal with Chinese state oil giant
Sri Lanka has secured its biggest-ever foreign investment after signing a deal with Chinese state-run oil giant Sinopec, officials said on Thursday. "During President Anura Kumara Dissanayake’s four-day state visit to China, Sri Lanka marked a significant milestone by securing the largest foreign direct investment to date," it said.
UK economy rebounds but headwinds remain for govt
Britain's economic growth rebounded less than expected in November, official data showed Thursday, dealing a fresh blow to a Labour government that is battling headwinds. Britain's economy has stagnated since Labour won a general election in July, which saw the party end 14 years of rule by the Conservatives having pledged to drive growth.
Chinese give guarded welcome to spending subsidies
Beijing is hoping subsidies for rice cookers, microwave ovens and smartphones can boost sluggish spending and help the country weather an economic storm from incoming US president Donald Trump.
World Bank plans $20 bn payout for Pakistan over coming decade
The World Bank plans to loan cash-strapped Pakistan $20 billion over the coming decade to nurture its private sector and bolster resilience to climate change, Prime Minister Shehbaz Sharif said. Sharif said the World Bank funding would be used for "child nutrition, quality education, clean energy, climate resilience, inclusive development and private investment".
Nintendo rumour mill in overdrive over new Switch
Speculation over Nintendo's new console, a successor to the wildly popular Switch, reached a fever pitch Thursday with specialist media predicting an imminent announcement from the Japanese gaming giant. A Nintendo spokesman told AFP on Thursday that there was "nothing we can share" regarding the announcement.
AFP
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