Business

NEW YORK CITY: WeWork is warning there’s “substantial doubt” about its ability to stay in business over the next year because of its financial losses and its need for cash, among other factors. The New York-based workspace-sharing company said on Tuesday that its ability to stay in operation is contingent …

Elon Musk says he may need to get surgery before a proposed “cage match” with Mark Zuckerberg.  Tech billionaires have been taunting each other about a ‘cage match’ for weeks. Elon Musk says he may need to get surgery before a proposed “cage match” with Mark Zuckerberg. The two tech …

The company whose name became synonymous with remote work is joining the growing return-to-office trend as Zoom is asking workers who live within 80 kilometres of a Zoom office to head into it at least two days a week.  Employees unhappy with new policy asked questions during Zoom meeting last …

BEIJING: China last month suffered its biggest fall in exports for more than three years, official data showed on Tuesday, as the world’s second-largest economy is battered by sluggish global demand and a domestic slowdown. The data will likely ramp up calls for leaders to do more to revive growth, …

TOKYO: Japanese investment giant SoftBank Group reported on Tuesday a surprise net loss of more than $3 billion in the first quarter as it was hit by a drop in the share prices of major holdings as well as a weaker yen. The firm has made huge bets to find …

SAN FRANCISCO, United States —PayPal on Monday launched a stablecoin digital currency backed by US dollars to be used for transactions at its global online payments platform. PayPal USD is issued by Paxos Trust Company and backed by dollar deposits and similar cash holdings, the online payments giant said in …

JAKARTA: Indonesia’s economic growth accelerated faster than expected in the second quarter of the year, official data showed on Monday, the strongest rate in three quarters despite lagging exports. ACCELERATED GROWTH People gather in the park of the National Monument (Monas) in Jakarta on Sunday, Aug. 6, 2023. Statistics Indonesia …

LOS ANGELES: Hollywood’s pink wave has yet to crest as Warner Bros.’ “Barbie” dominated for a third straight weekend in North American theaters, pushing the film’s global haul past $1 billion in a first for a solo woman director, industry watcher Exhibitor Relations said Sunday. The Greta Gerwig-directed blockbuster has …

MONTREAL, Canada: The Canadian government has guaranteed billions in new commercial loans to finance the controversial Trans Mountain pipeline project amid growing concerns of huge cost overruns. The government nationalized the project, running from Alberta province to the Pacific coast, in 2018. The new loan guarantees — totaling up to …

OMAHA, Nebraska: Profits rebounded at Warren Buffett’s conglomerate along with the value of its $353 billion stock portfolio in the second quarter to hit $35.9 billion, and Berkshire Hathaway’s assorted businesses also performed well, led by strong results in its core insurance businesses, particularly Geico. Berkshire Hathaway said Saturday that …