Category: Business

The U.S. government will quickly investigate the circumstances surrounding Eastman Kodak Co’s announcement of a $765 million government loan to make drugs at its U.S. factories, President Donald Trump said on Tuesday. The company’s shares closed down 3.61% at $14.40 after the Wall Street Journal reported earlier that the U.S. Securities and Exchange Commission would […]

Self-driving truck entrepreneur Anthony Levandowski on Tuesday received an 18-month prison sentence in the highest-profile trade secrets theft case in Silicon Valley in recent years. Here is a look at where the law stands on taking documents when leaving a job. What was Levandowski convicted of? Prosecutors said Levandowski deliberately moved over 14,000 sensitive files […]

Senior U.S. and Chinese officials will review the implementation of their Phase 1 trade deal and likely air mutual grievances in an increasingly tense relationship during an Aug. 15 videoconference, two people familiar with the plans said. U.S. Trade Representative Robert Lighthizer and Chinese Vice Premier Liu He, the principal negotiators for the two countries, […]

Japan’s services sector contracted for a sixth straight month in July, suggesting economic activity remained under pressure from the coronavirus crisis as the third quarter got under way. The final Jibun Bank Japan Services Purchasing Managers’ Index (PMI) edged up to a seasonally adjusted 45.4 in July, hardly an encouraging change from 45.0 in June […]

Wall Street ended higher after a choppy session on Tuesday, lifted by Apple and energy stocks but limited by declines in AIG and Microsoft while investors awaited more U.S. government stimulus to fight economic fallout from the COVID-19 pandemic. Apple (AAPL.O) climbed 0.7%, up for a fifth straight session as investors cheered the iPhone maker’s […]

White House officials on Tuesday could not say how the U.S. government would receive a portion of the proceeds from any sale of TikTok’s U.S. operations, one day after President Donald Trump called for a cut of the money. “There’s no specific blueprint here,” White House economic adviser Larry Kudlow said on Fox Business Network […]

China is looking to reduce its reliance on overseas markets and technology for its economic development, government advisers say, as U.S. hostility and a global pandemic increase external risks that could hamper longer-term progress. The country’s leaders have proposed a so-called “dual circulation” model of growth to steer the economy, the sources said, which would […]