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Samsung Electronics chairman Lee Kun-hee dies at 78

Seoul - Samsung Electronics chairman Lee Kun-hee, who transformed the South Korean firm into a global tech titan, died at the age of 78 on Sunday, the company said.

Samsung Electronics chairman Lee Kun-hee dies at 78: company

Seoul - Samsung Electronics chairman Lee Kun-hee died at the age of 78 on Sunday, the company said.Lee, who turned the South Korean firm into a global tech giant, was left bedridden by a heart attack in 2014.

China's super rich got $1.5 trillion richer during pandemic: report

Bejing - China's super wealthy have earned a record $1.5 trillion in 2020, more than the past five years combined, as e-commerce and gaming boomed during pandemic lockdowns, an annual rich list said Tuesday.

SK Hynix in $9 bn deal for Intel's flash memory chip business

Seoul - The world's second-largest chipmaker, South Korea's SK Hynix, announced a record $9 billion deal Tuesday to buy Intel's flash memory chip operation as it seeks to bolster its position against rival behemoth Samsung Electronics.

SK Hynix to buy Intel's NAND memory chip business in $9bn deal

Seoul - The world's second-largest chipmaker, South Korea's SK Hynix, is to buy Intel's flash memory chip operation in a deal worth $9 billion, it said Tuesday, as it seeks to bolster its position against Samsung.

U.S. new jobless claims hit highest level since mid-August

The number of Americans seeking unemployment benefits rose last week by the most in two months, to 898,000, a historically high number and evidence that layoffs remain a hindrance to the economy’s recovery from the pandemic recession.

Ruby Tuesday files for bankruptcy — the latest casualty of virus

Ruby Tuesday Inc., the struggling casual restaurant chain, filed for bankruptcy Wednesday, partly blaming the "unprecedented impact" of the coronavirus pandemic.

Q&A: Consumer and business outlooks since COVID-19 Special

Many businesses are facing uncertainty and across many sectors the outlook is bleak. One reason for this is due to low levels of consumer confidence. But is this so for all sectors, and how will things unfold? An expert from Experian weighs in.

Bottled water billionaire pips Jack Ma to become China's richest

Bejing - A businessman who spun his wealth from bottled water and vaccines has usurped tech tycoon Jack Ma as China's richest man, the Bloomberg Billionaires Index showed Thursday.Nongfu Spring founder Zhong Shanshan's net worth has hit $58.

Beirut businesses crowdfund to rebuild after blast

Beirut - Standing in the gutted ruins of her bar destroyed by Beirut's massive port blast, Lebanese entrepreneur Gizelle Hassoun said she hopes crowdfunding can help save her business from the rubble.

Q&A: B2B holiday marketing during the pandemic Special

The COVID-19 crisis has led to dramatic economic shifts and forced businesses to evolve with changing customer behaviors. This means businesses need to pivot their B2B holiday marketing strategies.

One million Americans file for jobless benefits as economy sinks

The number of Americans who filed for unemployment benefits for the first time came in above 1 million for the 22nd time in 23 weeks as the economy struggles to recover from the coronavirus pandemic.

Spike in demand: stinky durians enjoy online virus boom

Petaling Jaya - When a coronavirus lockdown confined Malaysians to their homes, street traders selling durians moved their pungent produce online -- and have been enjoying an unexpected spike in demand.

Uber keeps Asia HQ in Singapore, ditching Hong Kong move

Fpo - Uber will keep its Asian headquarters in Singapore for now, the ride-hailing giant said Thursday, blaming regulatory uncertainty for thwarting a mooted shift to Hong Kong.

E-bike revolution tempts Ferrari owners

Apo - What better partner for a Cowboy than a Prancing Horse?The Agnelli family's Exor holding company is best known as the owner of Ferrari, the four-wheeled supercar with the stallion logo.

Libya small businesses struggle to rebuild after waves of unrest

Tripoli - Libyan businessman Mahmud al-Sharkassi surveyed the ruins of his factory on the outskirts of war-scarred capital Tripoli, disheartened but determined to get back to work."This used to be the heart of my project.

UK unveils post-Brexit border plans and ad campaign

London - Britain on Monday launched another Brexit advertising blitz and unveiled its first detailed proposals for managing the country's borders after cutting ties with the European Union.

Record debts come due for struggling Canadian energy industry

The Canadian energy industry has borrowed heavily to survive a series of catastrophes and is facing $6 billion in refinancing in the next six months, the Bank of Canada said in May.

Hong Kong businesses back new security law despite fears

Fpo - China's new security law has sent fear coursing through many Hong Kong residents, but the city's commercial community has largely embraced it as a way to get back to doing business.

Women bear the brunt of virus fallout in workplace

London - The reverberating economic shock of the coronavirus crisis has delivered a massive setback for women because so many work in the badly exposed services sector, experts say.

Top Russia newspaper editors quit, denouncing censorship

Moscow - Senior editors at Russia's most influential business newspaper quit Monday in protest against what they say is censorship while its founder accused the new owner of seeking to destroy the daily.

Top Russia newspaper editors quit, denouncing censorship

Moscow - Senior editors at Russia's leading business newspaper quit Monday in protest against what they say is censorship under new ownership, as a months-long dispute between journalists and management came to a head.

Q&A: Importance of fraud trends as businesses open up Special

As many businesses attempt to return to something resembling normalcy, some risks might be greater than they were before the shutdown. This includes cybersecurity and fraud issues. An expert presents some core advice.

Russian small businesses reopen to uncertain future

Moscow - When Moscow authorities closed non-essential businesses to stop the spread of the coronavirus, Boris Kupriyanov began to personally deliver books to his customers.This, he said, has helped him and his indie bookstore survive over the past two months.

J.C.Penny is the fourth major retailer hit by COVID-19 pandemic

Corpus Christi - J.C.Penny is the latest retail giant to see its downfall hastened by the coronavirus crisis. The 118-year-old company filed for Chapter 11 bankruptcy on Friday - even as it has been struggling to overcome a decade of business problems.

What is the future work, in the post-COVID world?

Coping with the coronavirus on a day-to-day basis, both from the health and economic perspective, is a preoccupation for most people. But what will the post-coronavirus world look like? How will businesses seek to organize their practices?

CEO Analysis: COVID-19 impact on data-driven decisions Special

Businesses face unprecedented uncertainty over the short-to-medium term. This makes the collection and analysis of data, as close to real-time as possible, more essential than ever. A CEO outlines how and why this matters.

Virus upends outsourcing as firms 'reshore', embrace AI

Mumbai - Coronavirus is permanently shaking up the global outsourcing industry as lockdowns from Bangalore to Manila prompt firms to "reshore" jobs and, with AI, to move further away from needing humans at all.

COVID-19: How companies are shifting to meet new demands

COVID-19 is requiring many companies to shift their business model to meet new demands. We looks at some examples of how companies that are getting creative to help the medical industry during this crisis.

Russia's small businesses buckling under virus restrictions

Moscow - When President Vladimir Putin announced a paid holiday for the month of April to keep Russians home and prevent the coronavirus from spreading, many small business owners braced themselves.
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