Business

Straits Herald February 26, 2020

by Glenn CHAPMAN Walt Disney Co. said Tuesday chief Bob Iger was handing off the top executive post after building the media-entertainment powerhouse into the undisputed Hollywood leader. Disney’s board named Bob Chapek, a 27-year veteran of Disney, the new chief executive, effective immediately. Iger, who has been CEO for 15 years, will assume the […]

Straits Herald February 25, 2020

Three units of Goldman Sachs pleaded not guilty Monday in Malaysia over the investment bank’s alleged role in the multi-billion-dollar scandal at the country’s sovereign wealth fund 1MDB, official media reported. Huge sums were allegedly looted from the Malaysian fund in a globe-spanning fraud, which reportedly involved ex-leader Najib Razak and his inner circle. Goldman’s […]

Straits Herald February 15, 2020

by Martin Abbugao Asian plane makers have thrown huge sums at building jets but flagship projects have suffered repeated setbacks, and they face a tough time breaking into a market dominated by established players. The Asia-Pacific region is the world’s biggest aviation market for commercial aircraft and Japanese and Chinese firms have embarked on programmes […]

Straits Herald February 14, 2020

by Valentin Bontemps / Pierre Donadieu Cancel, delay or go ahead: the organisers of industry events are faced with a difficult choice as international gatherings of thousands or even of tens of thousands of people pose a risk of spreading the COVID-19 virus. The cancellation of the Mobile World Congress due to have been held […]

Straits Herald February 14, 2020

by Rob Lever Chinese tech giant Huawei was hit Thursday with fresh US criminal charges alleging a “decades-long” effort to steal trade secrets from American companies. A US indictment unsealed in New York alleges Huawei and its proxies conspired “to misappropriate intellectual property” from six US firms as part of a strategy to grow and […]

Straits Herald February 12, 2020

by Rob Lever A US regulatory agency said Tuesday it would review acquisitions made by five Big Tech firms over the past decade — opening the door to a wave of potential antitrust investigations. The bombshell announcement by the US Federal Trade Commission opens the door to fresh scrutiny of deals made by Amazon, Apple, […]

Straits Herald February 12, 2020

Boeing reported Tuesday no new plane orders in January and a drop in jet deliveries as the protracted grounding of the 737 MAX continued to weigh on the company. The aerospace giant booked orders for 45 jets in January 2019, but none during that period this year, according to its website, the latest bit of […]

Straits Herald February 12, 2020

by Laurent Thomet and Jing Xuan Teng The death toll in China from the new coronavirus epidemic jumped on Wednesday, as the chief of the World Health Organization urged countries to work together against the “grave threat” posed by the outbreak. The WHO is holding a conference in Geneva on combating the virus, which has […]

Straits Herald February 10, 2020

Hindus gathered in temples across Malaysia on Saturday to celebrate the annual Thaipusam festival, with many piercing their bodies with hooks and skewers, despite concerns about the deadly coronavirus outbreak. Massive crowds descended on the Batu Caves temple complex on the outskirts of capital Kuala Lumpur to participate in the event, where Hindus showcase their […]

Straits Herald February 9, 2020

by Thanaporn Promyamyai / Dene Chen A Thai soldier who killed at least 26 people before being shot dead in a mall by commandos went on the rampage because of a debt dispute, the kingdom’s premier said Sunday, offering the first official motive for the “unprecedented” shooting spree. Sharp-shooters brought an end to a 17-hour-ordeal […]

Straits Herald February 9, 2020

by Jocelyne Zablit Can the black comedy “Parasite” win South Korea its first Oscar ever? Will Laura Dern become the first in her acting family to nab an Oscar statuette? Here’s a look at some interesting facts and trivia ahead of the 92nd Academy Awards being held Sunday in Hollywood: ‘Parasite’ aims big “Parasite” already […]

Straits Herald February 8, 2020

by Paul Ricard and Brigitte Castelnau Chinese researchers investigating the animal origin of the deadly coronavirus outbreak in China said Friday the endangered pangolin may be the “missing link” between bats and humans, but other scientists said the search may not be over. An earlier study — since discredited — pointed to snakes, and there […]

Straits Herald February 6, 2020

Receiving money to “offset” buying planes and equipment did not necessarily constitute bribery, Malaysia’s prime minister said Thursday, days after AirAsia boss Tony Fernandes stepped aside temporarily in the wake of a $4 billion Airbus graft scandal. AirAsia founder and CEO Fernandes and company executive chairman Kamarudin Meranun deny allegations of misconduct, but have stepped […]

Straits Herald February 6, 2020

The former chief of Sri Lanka’s national carrier was arrested Thursday over allegations he received bribes for a multi-billion-dollar Airbus aircraft deal, as the fallout from corruption probes into the aviation giant grew. The country’s president ordered an investigation into the purchase after court documents mentioned SriLankan Airlines in corruption probes into Airbus. A French court […]

Straits Herald February 6, 2020

Malaysia’s former first lady, who allegedly bankrolled a luxurious lifestyle with kickbacks and stolen public money, went on trial Wednesday for corruption for the first time since her husband lost power. Rosmah Mansor, notorious for making overseas shopping trips and owning vast collections of handbags and jewellery, became a lightning rod for public anger as […]

Straits Herald February 6, 2020

A Malaysian journalist was charged Wednesday with causing public alarm with Facebook posts about the deadly coronavirus outbreak in China, as authorities warned against online “rumour-mongering”. The virus has so far killed almost 500 people and infected 24,000 others in China, and spread to more than 20 countries including Malaysia, which has 12 cases. It […]

Straits Herald February 5, 2020

The Federal Reserve permanently barred a senior Goldman Sachs executive from the banking industry over the 1MDB scandal, the US central bank announced Tuesday. The Fed action affects Andrea Vella, who had been placed on leave amid a crackdown over 1MDB, the scandal-plagued Malaysian investment fund for which Goldman Sachs helped raise $6.5 billion.  The […]

Straits Herald February 5, 2020

by M Jegathesan AirAsia’s colourful chief executive Tony Fernandes has stepped aside from the company while authorities probe unusual payments at the Malaysian carrier, as the fallout from a $4 billion bribery fine at Airbus reverberates across the industry. The shock decision came after Britain’s Serious Fraud Office (SFO) released details of a probe that […]

Straits Herald February 1, 2020

After European aerospace giant Airbus agreed to pay 3.6 billion euros ($4 billion) to Britain, France and the United States to settle a corruption probe, here are examples of other mega companies that have done the same. Odebrecht In 2016 the Brazilian construction giant Odebrecht and its petrochemicals subsidiary Braskem, mired in Latin America’s sprawling […]

Straits Herald February 1, 2020

Airbus is set to pay a massive 3.6 billion euros ($4 billion) in fines to Britain, France and the US to settle corruption inquiries sparked by suspicious equipment sales, according to a deal approved by a French court Friday. Airbus will pay 2.1 billion euros in to French authorities, as well as 984 million euros […]

Straits Herald January 31, 2020

Apple on Thursday said it has finished rolling out an overhauled map app in the US in another attempt to challenge Google’s popular smartphone navigation software. Apple spent years rebuilding the application, its cars traveling millions of miles to map roads, after a version launched in 2012 was so problematic it prompted a rare public […]

Straits Herald January 30, 2020

The Malaysian Navy has reassured the public that all Malaysian seamen, sailors, officers, and support staff who are stationed in China are free from the coronavirus nCov2019. Malaysia has ordered four Littoral Mission Ship (LMS) from China. These four vessels are currently being constructed in Wuhan, Hubei province, which is also the epicentre of the […]

Straits Herald January 30, 2020

A Los Angeles jury on Wednesday ordered Apple and Broadcom to pay $1.1 billion to a university in California for infringing on four Wi-Fi technology patents. Apple was ordered to pay $837 million and Broadcom must pay $270 million to the California Institute of Technology, in what is thought to be one of the largest […]