Business

Straits Herald January 16, 2020

by John Biers Goldman Sachs reported a drop in fourth-quarter profits on Wednesday following a mixed performance in its operating businesses as it set aside $1.1 billion in anticipation of settlements in the 1MDB scandal. Chief Executive David Solomon said the “preponderance” of the $1.1 billion was related to 1MDB, a scandal-plagued Malaysian investment fund […]

Straits Herald January 15, 2020

OPEC on Wednesday raised its 2020 estimate for growth in global demand for oil, while noting that increased output from non-OPEC members would probably more than make up for it. The oil cartel now expects demand for crude oil to grow by 1.22 million barrels per day from last year’s level, a slight increase of […]

Straits Herald January 13, 2020

Airbus recorded one of their best years yet, with delivery and order-taking for 2019 surpassing previous years. The European conglomerate delivered 863 commercial aircraft to 99 customers in 2019, outpacing its previous output record set in 2018 by eight percent. In the 17th yearly production increase in a row, Airbus progressed on the transition to all NEO variants and by […]

Straits Herald January 10, 2020

by Dave Chan Canadian Prime Minister Justin Trudeau said Thursday “multiple” intelligence sources indicate that Iran shot down a Ukrainian airliner after it took off from Tehran, killing all 176 on board, including 63 Canadians. Trudeau’s comments came as images posted on social media increasingly pointed to a catastrophic mistake by Tehran’s air defense batteries […]

Straits Herald January 8, 2020

Malaysian authorities played a series of phone recordings 45-minute audio recordings implicating former Premier, Najib Razak in covering up the 1MDB scandal. Authorities from the Malaysian Anti-Corruption Commission (MACC) revealed that Najib reaching out to UAE’s Crown Prince Mohammed Bin Zayed to secure a meeting on how to ‘resolve the “impasse” relating to the 1MDB […]

Straits Herald January 6, 2020

Malaysian health authorities will carry out temperature screening of passengers arriving on flights from Wuhan, China following the recent outbreak of a mysterious respiratory illness there. Health Ministry of Malaysia’s Disease Control Division (DCD) informed of this through a statement issued on Saturday (Jan 4). The move comes after health authorities in Wuhan confirmed on […]

Straits Herald January 4, 2020

Apple chief Tim Cook saw his annual pay slip to $11.6 million in 2019 after the company registered a weaker financial performance compared with the previous year, according to documents filed Friday. Cook, who took home $15.7 million in 2018, is paid a base salary of $3 million, in addition to a bonus and various […]

Straits Herald January 2, 2020

by Glenn Chapman / Julie Jammot / with Rob Lever in Washington The screens will be bigger and bolder, the cars will be smarter and some of the technology will be up-close and personal — even intimate. The 2020 Consumer Electronics Show opening in Las Vegas will be crammed with the latest in connected devices, […]

Straits Herald January 2, 2020

French media giant Vivendi said Tuesday it would sell 10 percent of its Universal Music Group subsidiary to a consortium led by the Chinese behemoth Tencent for three billion euros.  The agreement, worth around $3.36 billion, is “based on an enterprise value of 30 billion euros for 100 percent of UMG’s share capital” and is expected […]

Straits Herald December 31, 2019

Iran’ Revolutionary Guards have seized a ship suspected of fuel-smuggling and arrested 16 Malaysian crew members, state media reported on Monday. The website of IRIB state television said the Guards confiscated 1.3 million litres of “smuggled fuel” from the unnamed vessel 15 nautical miles from Abu Musa island. “The ship’s 16 crew who are of […]

Straits Herald December 30, 2019

by Catherine Lai A rom-com about a lesbian flight attendant and a romance in a gay spa are among the shows featured on Asia’s first LGBT-focused streaming service, which is pushing boundaries in an often highly conservative region.  GagaOOLala brings more than 1,000 feature films, shorts, web series, and documentaries to people across Asia, where […]

Straits Herald December 25, 2019

by Marlowe Hood The climate summit in Madrid earlier this month did not collapse — but by almost any measure it certainly failed. Five years after the fragile UN process yielded the world’s first universal climate treaty, COP25 was billed as a mopping-up session to finish guidelines for carbon markets, thus completing the Paris Agreement […]

Straits Herald December 24, 2019

by John Biers Boeing on Monday pushed out its embattled chief executive, Dennis Muilenburg, as it attempts to pivot from a protracted crisis surrounding the grounding of its top-selling 737 MAX after two deadly crashes. More than nine months after the MAX was grounded and a week after halting production of the aircraft, Boeing named […]

Straits Herald December 23, 2019

2019 is drawing to a close. Here are some of the biggest events that unfolded around the world: Global Climate Emergency 2019 is set to be the second hottest year ever recorded. Record temperatures in Europe, North Pole, and Australia. Young Swedish activist Greta Thunberg inspires climate protests worldwide, culminating in her being named as […]

Straits Herald December 22, 2019

Russia carried out tests Monday to ensure the “security” of its internet infrastructure in case of a foreign cyberattack, measures that rights activists worry could also tighten censorship and lead to online isolation. A controversial law that allows the country to cut internet traffic from international servers came into force in November, but the communications […]

Straits Herald December 20, 2019

Malaysia’s extraordinary 1MDB corruption scandal allegedly saw top officials loot billions from a state fund and go on a worldwide spending spree — buying up super-yachts, paintings by Van Gogh and Monet, and financing a Hollywood blockbuster. The controversy has had a huge impact in Malaysia, contributing to the downfall of a coalition that had […]

Straits Herald December 20, 2019

Goldman Sachs is in talks with American authorities to admit guilt and pay a massive fine in the 1MDB bribery scandal to end a US criminal probe, according to a report on Thursday. The global finance giant is near an agreement with the Justice Department on a fine of close to $2 billion in the […]

Straits Herald December 19, 2019

Eight-year-old Ryan Kaji earned $26 million in 2019 on his YouTube channel, making him the highest-paid creator on the platform, according to a list published Wednesday by Forbes magazine. Kaji, whose real name is Ryan Guan, was already the video platform’s highest earner in 2018, with $22 million, according to Forbes. His channel “Ryan’s World,” […]

Straits Herald December 17, 2019

US regulators said Monday they had permanently barred a former Goldman Sachs executive from the securities industry over bribery in Malaysia’s 1MDB scandal. The settlement comes more than a year after Tim Leissner admitted bribery and money laundering conspiracy charges related to the case, which rocked the Malaysian political scene and the giant Wall Street […]

Straits Herald December 15, 2019

Indonesia has filed a World Trade Organization lawsuit against the European Union over plans to phase out palm oil-based biofuel for cars, the trade ministry said. The action could escalate a trade dispute between Indonesia — the world’s top palm oil producer – and the EU, which plans to end its use of biofuels by […]

Straits Herald December 12, 2019

Twitter co-founder Jack Dorsey is funding research aimed at changing the way information circulates on social media — with the goal of combating online violence, hate and disinformation. Dorsey on Tuesday announced he would fund an independent team of five architects, engineers, and designers — dubbed Bluesky — to develop an “open and decentralized standard […]