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Business

Samsung, Apple to Boost Cellphone Manufacturing in India

A security officer talks on a phone in front of an image of an iPhone displayed at an Apple store in Ahmedabad, India, Saturday, Aug. 1, 2020. (Ajit Solanki/AP Photo) NEW DELHI—Three contract manufacturers for Apple iPhones and South Koreas Samsung have applied for large-scale electronics manufacturing rights in India under a $6.5 billion incentive scheme announced by the government, a minister said Saturday. The scheme will extend cash incentives of 4-6 percent for five years on incremental sales of goods manufactured in India with 2019-2020 as the base year, Technology Minister Ravi Shankar Prasad told reporters. The international cellphone manufacturing companies that have applied under the scheme are SamsunRead More – Source [contf] [contfnew] The Epoch Times [contfnewc] [contfnewc]

Business

Golf: South African Branden Grace tests positive for Covid-19 at Barracuda Championship

TRUCKEE, CALIFORNIA (REUTERS) – South Africa's Branden Grace has withdrawn from the Barracuda Championship prior to the third round after testing positive for COVID-19, the PGA Tour said on Saturday (Aug 1). Grace, who was tied for second place after two rounds at Tahoe Mountain Club in California, must now self-isolate for 10 days, which will rule him out of next week's PGA Championship. "I felt great all week," said Grace. "Last night, I was tired and thought it had to do with the altitude. This morning, I notified the PGA Tour about my symptoms before going to the golf course. "I wanted to get tested out of respect for my peers and everyone involved with the tournament. "While it is unfortunate given my position on the leaderboard, the most important thing is our health." The PGA Tour has implemented its response plan in consultation with medical experts,Read More – Source [contf] [contfnew] straitstimes [contfnewc] [contfnewc]

Business

Football: Juve crash on season finale, Inter second in Serie A

TURIN, ITALY (AFP) – J Juventus crashed to their second consecutive defeat as the Serie A champions finished their season with a 3-1 home loss against Roma on Saturday (Aug 1), days before their Champions League campaign resumes. Inter Milan took second place with a 2-0 win over direct rivals Atalanta in Bergamo, who fell to their first league defeat since January. Juventus had already wrapped up their ninth straight league title and are looking towards their last 16 home game against Lyon next Friday when Maurizio Sarri's side need to overturn a 1-0 first-leg deficit. Cristiano Ronaldo was rested for the final match with nothing left to play for against fifth-place Roma who are already assured of the Europa League group stage next term. Sarri had threatened to field Juventus's Under-23 team after his tired troops fell 2-0 to Cagliari during the week. Argentine Gonzalo Higuain spearheaded the Juventus attack and finished off an Adrien Rabiot cross after just six minutes ..

Business

Football: Immobile equals Serie A scoring record in Lazio loss at Napoli

MILAN (REUTERS) – Lazio forward Ciro Immobile equalled the Serie A scoring record for a single season when he was on target in his side's 3-1 loss at Napoli in their final game of the season on Saturday (Aug 1). In a game which finished with an angry exchange between members of the two team benches, the 30-year-old took his tally to 36 goals, equalling the record set by Gonzalo Higuain for Napoli in the 2015-16 season. He also finished the season five goals clear of the next leading scorer, Cristiano Ronaldo of Juventus. Tempers boiled over at the end as Napoli coach Gennaro Gattuso and his counterpart Simone Inzaghi were involved in a heated argument and Gattuso had to be restrained as he ranted at another member of the Lazio staff. "We said something to each other, there were a few too many words," said Gattuso afterwards. "I went too far, I have to be honest. The match got us all wound up." Inzaghi said: "It wasn't nice to see but these things happen. The important th..

Business

How to prepare for a retrenchment

Act surprised, even if you aren't. And make them feel awful. That's the first thing you should do if your boss says you're being laid off, said Mr Roy Cohen, who runs his own career consulting business. "Always convey utter, absolute shock," he said. Please subscribe or log in to continue reading the full article. Learn more about ST PREMIUM. Enjoy unlimited access to ST's bestRead More – Source [contf] [contfnew] straitstimes [contfnewc] [contfnewc]

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Sound financial planning is core tenet in his life

Building solid financial foundations through investing for the long term is something that has stood Mr Laurent Bertrand in good stead over the years. He also hopes to help others reduce financial anxiety through developing their own financial-planning road maps. Please subscribe or log in to continue reading the full article. Learn more about ST PREMIUM. Enjoy unlimited acceRead More – Source [contf] [contfnew] straitstimes [contfnewc] [contfnewc]

Business

Trouble ahead when gold glitters

It is easy to forget now but there was a time early on in the pandemic when the price of gold was in free fall. But the precious metal has since seen one of the most ferocious rallies ever. At the close of trading in New York on July 24, bullion had spiralled to about US$1,900 an ounce, some 30 per cent higher than the low it hit in March and just 1 per cent off a record high set back in 2011. Please subscribe or log in to continue reading the full article. Learn more about ST PREMIUM. EnjoRead More – Source [contf] [contfnew] straitstimes [contfnewc] [contfnewc]

Business

Eastman Kodak top executive got Trump deal windfall on an ‘understanding’

NEW YORK/LONDON: Eastman Kodak Co on Monday (Aug 1) granted its executive chairman options for 1.75 million shares as the result of what a person familiar with the arrangement described as an "understanding" with its board that had previously neither been listed in his employment contract nor made public. One day later, the administration of President Donald Trump announced a US$765 million financing deal with Eastman Kodak, and in the days that followed the stock soared, making those additional options now held by executive chairman Jim Continenza worth tens of millions. Advertisement Advertisement The decision to grant Continenza options was never formalized or made into a binding agreement, which is why it was not disclosed previously, according to the person familiar with the arrangement. The options were granted to shield Continenza's overall stake in the company from being diluted by a US$100 million convertible bond deal clinched in May 2019 to help Eastman Kodak sta..

Business

SoftBank to maintain stake in Arm after partial sale: Nikkei

REUTERS: SoftBank Group Corp will keep a stake in its chip company Arm Holdings Ltd, even if it sells part of it to Nvidia Corp or through an initial public offering, the Nikkei Asian Review reported. The Japanese conglomerate is currently negotiating terms with Nvidia after receiving an approach last month, the report said, citing an unidentified source familiar with the matter, adding that it is possible that SoftBank would take stake in Nvidia after it bought Arm. Advertisement Advertisement The report did not mention how much stake the company will retain in Arm. SoftBank did not respond to a Reuters request for comment. The Wall Street Journal reported last month that SoftBank was exploring options including a full or partial sale or public offering of Arm. SoftBank acquired the British chip designer for US$32 billion in 2016, its largest-ever purchase, in part to expand into the internet of things, which connects everyday devices from traffic signals to refrigerators to t..

Business

Facebook puts global block on Brazil’s Bolsonaro supporters

BRASILIA: Facebook said on Saturday (Aug 1) it has put a global block on certain accounts controlled by supporters of Brazil's President Jair Bolsonaro implicated in a fake news inquiry, a day after it was fined for not complying with a Supreme Court judge's order to do so. A spokesperson for Facebook said the order was "extreme" and threatens "freedom of expression outside of Brazil's jurisdiction", but said the company has agreed to the order. Advertisement Advertisement "Given the threat of criminal liability to a local employee, at this point we see no other alternative than complying with the decision by blocking the accounts globally, while we appeal to the Supreme Court," the spokesperson said. Justice Alexandre de Moraes had ruled on Thursday that Facebook and Twitter failed to comply with orders to block the accounts because they were only blocked within Brazil, but remained accessible with foreign IP addresses. On Friday, he ruled that Facebook must pay ..

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