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Pompeo: US Would Win Trade War with China

Secretary of State Mike Pompeo vows the United States will be victorious in any trade war with China, a day before the Trump administration’s latest tariffs on Chinese imports go into effect. Pompeo told Fox News on Sunday. “We are going to get an outcome which forces China to behave …

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Comcast Outbids Fox With $40B Offer for Sky

Comcast beat Rupert Murdoch’s Twenty-First Century Fox in the battle for Sky after offering 30.6 billion pounds ($40 billion) for the British broadcaster, in a dramatic auction to decide the fate of the pay-television group. U.S. cable giant Comcast bid 17.28 pounds a share for control of London-listed Sky, bettering a 15.67 offer by …

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UK PM’s Team Makes Plans for Snap Election

British Prime Minister Theresa May’s aides have begun contingency planning for a snap election in November to save both Brexit and her job, the Sunday Times reported. The newspaper said that two senior members of May’s Downing Street political team began “war-gaming” an autumn vote to win public backing for a new …

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US-China Tensions Rise as Beijing Summons US Ambassador

Tensions between China and the United States escalated Saturday as China’s Foreign Ministry summoned U.S. Ambassador to China Terry Branstad to issue a harsh protest against U.S. sanctions set for the purchase of Russian fighter jets and surface-to-air missiles. The move came hours after China canceled trade talks with the …

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Rising Oil Prices Haven’t Hurt US Economy

America’s rediscovered prowess in oil production is shaking up old notions about the impact of higher crude prices on the U.S. economy. It has long been conventional wisdom that rising oil prices hurt the economy by forcing consumers to spend more on gasoline and heating their homes, leaving less for …

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Technology Enhances Food Delivery Experiences

Self-driving technology is making online shopping a more convenient, more cost-effective experience. One new startup in San Jose, California, is launching a fully driverless delivery service, which many predict is something customers will be seeing a lot more of in the future. Faiza Elmasry takes a look at how these …

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Facebook to Drop On-site Support for Political Campaigns

Facebook Inc. said Thursday that it would no longer dispatch employees to the offices of political campaigns to offer support ahead of elections, as it did with U.S. President Donald Trump in the 2016 race. The company and other major online ad sellers, including Alphabet Inc.’s Google and Twitter Inc., have long offered free dedicated assistance …

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China’s Alibaba Scraps Plan to Create 1M US Jobs

Alibaba Chairman Jack Ma said Wednesday that the Chinese e-commerce giant had canceled plans to create 1 million jobs in the U.S., blaming the ongoing trade war for the decision, according to Chinese news agency Xinhua. “This commitment is based on friendly China-U.S. cooperation and the rational and objective premise …

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Amazon’s Use of Merchant Data Under EU Microscope

EU regulators are quizzing merchants and others on U.S. online retailer Amazon’s use of their data to discover whether there is a need for action, Europe’s antitrust chief said on Wednesday. The comments by European Competition Commissioner Margrethe Vestager came as the world’s largest online retailer faces calls for more …

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Report: Cryptocurrency Exchanges at Risk of Manipulation

Several cryptocurrency exchanges are plagued by poor market surveillance, pervasive conflicts of interest and lack sufficient customer protections, the New York Attorney General’s office said in a report published on Tuesday. The study found that online platforms where virtual currencies such as bitcoin can be bought and sold by individuals …

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Kenya Taxi Drivers Create New Ride Hailing App

In Kenya, a new taxi hailing app developed by local taxi drivers is in its fourth month of operation in Nairobi. Dubbed BebaBeba by the Drivers and Partners Association of Kenya (DPAK), it was created to compete with Uber and other ride hailing apps. Rael Ombuor reports from Nairobi. …

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