Business

Business

LA County Can Reopen Barbershops, Restaurants, Salons: Officials

Los Angeles County, which accounts for over half of Californias COVID-19 deaths, is moving deeper into phase two of the states reopening plan, which lets operations resume at places like barbershops and restaurants. Chair of the L.A. County Board of Supervisors Kathryn Barger told a press conference Friday that state authorities approved a regional variance—a kind of permit that lets counties further open their economies if they meet benchmarks—including around case, hospitalization, and testing data. “Our Board of Supervisors voted to seek a variance from the State to align with the majority of other counties in California,” Barger said, adding, “Today, we got word that Gov. Newsom approved the variance, allowing barbershops, hair salons, and restaurants to reopen.” She said the move represents “monumental progress for Los Angeles County on the path toward recovery.” The variances allow counties to move deeper into phase two of Californias reopening roadmap. The county submitted i..

Business

Covid-19 will likely speed up shift to decentralise CBD, experts say

The Covid-19 pandemic will likely accelerate the shift towards decentralising the Central Business District (CBD) by bringing workplaces closer to homes while increasing recreational and residential options in the city centre, industry observers say. "Before the pandemic, global business districts were in a high-stakes race to attract talent, new business and capital. For the most part, this will continue, albeit under new rules," Mr Marc Lhermitte, a partner at Ernst & Young Advisory, France, said. The pandemic has raised awareness of the need for risk management and business continuity planning, while lockdowns and forced telecommuting have revealed that some functions within organisations can operate from home. Showsuite Consultancy chief executive Karamjit Singh said: "As a result, we expect to see a fundamental shift in corporate planning, which would have flexible and remote working options to better manage talent, costs and risks. Some major global technology companies have a..

Business

Keppel sharpens focus on four key areas with 10-year road map

Keppel Corporation has unveiled a 10-year road map that sharpens its focus on four key segments with an eye on mergers and acquisitions and divestments of selected assets. Its Vision 2030 plan – a year in the making – redefines the firm's various businesses into four areas – energy and environment; urban development; connectivity; and asset management. Keppel, one of the world's largest oil-rig makers, also wants to pivot from lumpy project-based earnings towards recurring income in hopes of earning a market re-rating. It also aims to crank up its efforts to meet a 15 per cent return-on-equity target. Chief executive Loh Chin Hua said: "This plan is a big step up (from Vision 2020 adopted in 2014). The Keppel of 2014 is very different from the Keppel of 2020. Much water has gone under bridge. My colleagues are bolder now. "We started out as a conglomerate with disparate businesses unified by name and a common heritage; we are becoming one that is clearly an integrated bu..

Business

Bank lending dips for 2nd straight month, consumer loans shrink

Bank lending declined for a second consecutive month in April, with consumer loans taking a bigger hit than business loans from the disruption caused by circuit breaker measures. Total lending dropped 0.4 per cent to $689.7 billion last month, from $692.4 billion in March. It rose 2 per cent over the same month last year, preliminary data from the Monetary Authority of Singapore showed yesterday. Total business lending last month dipped 0.1 per cent to $433.8 billion, from $434.2 billion in March, with financial institutions and businesses in manufacturing and general commerce on the downtrend. But sectors such as agriculture, construction, and transport, storage and communication saw small increases in lending over the same period. Consumer loans shrank across all segments, falling 0.9 per cent to $255.9 billion last month, from $258.2 billion in March. Maybank Kim Eng economist Lee Ju Ye noted Singapore's circuit breaker measures to counter the spread of Covid-19 have had a..

Business

Senator Cruz seeks federal Twitter probe as Trump feuds with company

Business U.S. Senator Ted Cruz on Friday urged the Treasury and Justice Departments to investigate whether Twitter, which is embroiled in a feud with the White House, is violating U.S. law by letting top Iranian officials use the social media platform. FILE PHOTO: Senator Ted Cruz (R-TX) questions judicial nominees during a hearing before the Senate Judiciary Committee on Capitol Hill in Washington, U.S., December 4, 2019. REUTERS/Joshua Roberts/File Photo 30 May 2020 11:40AM Share this content Bookmark WASHINGTON: U.S. Senator Ted Cruz on Friday urged the Treasury and Justice Departments to investigate whether Twitter, which is embroiled in a feud with the White House, is violating U.S. law by letting top Iranian officials use the social media platform. Cruz, a Republican ally of President Donald Trump, wrote a letter asking the Justice and Treasury Departments to open an investigation into Twitter Inc "for possible criminal violations" of U.S. sanctions against Iran. Adverti..

Business

US pipeline operator Energy Transfer warns of coming job cuts

Business U.S. pipeline operator Energy Transfer LP will begin cutting about 6per cent of its workforce next week, underscoring the spreading impact of weak oil and gas prices on the energy business. FILE PHOTO: Construction work continues on Sunoco's Mariner East II natural gas pipeline near Morgantown in Chester County, Pennsylvania, August 1, 2017. REUTERS/Charles Mostoller/File Photo 30 May 2020 09:30AM Share this content Bookmark REUTERS: U.S. pipeline operator Energy Transfer LP will begin cutting about 6per cent of its workforce next week, underscoring the spreading impact of weak oil and gas prices on the energy business. Marshall McCrea, chief commercial officer for the Dallas-based company, said in a recorded message to employees the cuts would begin Monday and affect about 6per cent of the company's staff, according to two people familiar with the recording. Advertisement Advertisement U.S. oil and gas producers have curtailed or shut in wells in response..

Business

Exclusive: Zoom plans to roll out strong encryption for paying customers

Business Zoom , the video conferencing provider whose business has boomed with the COVID-19 pandemic, plans to strengthen encryption on video calls made by paying clients and institutions like schools, but not for users of its popular free accounts, a company official said Friday. FILE PHOTO: Small toy figures are seen in front of diplayed Zoom logo in this illustration taken March 19, 2020. REUTERS/Dado Ruvic/Illustration 30 May 2020 08:45AM (Updated: 30 May 2020 10:40AM) Share this content Bookmark SAN FRANCISCO: Video conferencing provider Zoom plans to strengthen encryption of video calls hosted by paying clients and institutions such as schools, but not by users of its free consumer accounts, a company official said on Friday. The company, whose business has boomed with the coronavirus pandemic, discussed the move on a call with civil liberties groups and child-sex abuse fighters on Thursday, and Zoom security consultant Alex Stamos confirmed it on Friday. Advertisement ..

Business

Pubs to reopen in just FOUR WEEKS as Brits told pints in beer gardens possible in July

PUBS with beer gardens are expected to reopen first with pints being pulled in July at the earliest, the government has said. Restaurants with outdoor areas are also likely to be able to serve customers again when restrictions are eased. All venues for socialising, including theatres, clubs and cinemas, have been closed for more than two months after the Prime Minister announced last orders on March 20. [contfnewc] Environment Secretary George Eustice said the coronavirus infection rate is believed to be lower outdoors. He said: “The sectors that are going to have the greatest challenge getting back to work, which we recognise, and I’m sure the Chancellor recognises this too, the hospitality sector and some of those other ticketed venues, in particular cinemas and in particular theatres, restaurants and pubs, will also face a challenge getting back into operation. “And that is why we won’t be loosening the restrictions on them until at least July and even then it is likely that in..

Business

Basketball: NBA board likely to approve chief’s restart plan, play set to resume on July 31

(REUTERS) – The National Basketball Association's board of governors is expected to approve commissioner Adam Silver's recommendation on a format to restart the coronavirus-hit season in Florida in a vote next Thursday, ESPN reported on Friday (May 29) night. According to the report, "numerous members" of the board have said that from a group of return-to-play plans, support is growing for one that would see 22 teams play at Disney's ESPN Wide World of Sports Complex near Orlando. On a call among the board of governors on Friday, "an overwhelming majority"of owners indicated they would approve a plan, ESPN reported. In order to proceed, any plan would need a 75 per cent margin to be approved. The Athletic's Shams Charania reported earlier in the day that Silver informed the board that a target date for the resumption of play is July 31. According to the ESPN report, among the likely specifics of his proposed plan are: – There would be regular-season and play-in..

Business

Swimming: South-east Asia’s artistic teams show solidarity with group workout over Zoom

SINGAPORE – South-east Asia's national artistic swimmers are used to representing their respective countries at various sporting events, and Saturday (May 30) was no different. But instead of competing for medals at a major Games, the swimmers were team-mates in a group workout conducted over Zoom and broadcast live on Facebook. The two hour workout, organised by the Singapore Swimming Association (SSA) for the region, was led by 15 athletes from Vietnam, Malaysia, Thailand, Philippines, Brunei, Indonesia and Singaporeans Debbie Soh, Miya Yong and Ariel Sng. SSA's vice-president of artistic swimming Steve Chew said the objective of the workout was for the artistic swimmers in the region "to show their solidarity, unity and enthusiasm and to inspire others during this Covid-19 pandemic". Each swimmer took turns demonstrating and leading the various exercises, which focused on areas such as core strength and flexibility. For some, like Sng and Brunei swimmer Hafizah Ahmad,..

1 2 3 143
Page 2 of 143