Samsung apologises after chairman jailed for union sabotage

Seoul:  The world’s biggest smartphone and chipmaker Samsung Electronics issued a rare apology Wednesday after its chairman was jailed for sabotaging union activities. Chairman Lee Sang-hoon and executive vice president Kang Kyung-hoon were both jailed for 18 months for leading a wide-ranging operation to deter staff at Samsung’s customer service unit operating a union. Samsung Electronics […]

US SEC settles with former Goldman banker over 1MDB scandal

WASHINGTON: The US Securities and Exchange Commission (SEC) has settled foreign corruption charges against former Goldman Sachs Group Inc executive Tim Leissner for his involvement in Malaysia’s multibillion-dollar 1MDB corruption scandal, the agency said on Monday. The SEC has permanently barred Leissner from the securities industry for violating the Foreign Corrupt Practices Act (FCPA) by […]

Instagram bans influencers promoting vaping products

Instagram is finally making rules to govern content in influencer advertising. Influencers, the photo-sharing app’s most-followed users who are paid by brands to post, will no longer be allowed to promote products related to vaping, tobacco and weapons, Instagram said Wednesday in a blog post. The decision came after the UK’s Advertising Standards Authority ruled […]

Ratan Tata: Legacy of India’s legendary dealmaker under threat

For more than 150 years, the Tata Group has been synonymous with India’s nation-building project, venturing into everything from autos to airlines when its country needed them. And no executive better personified the country’s emergence on the world stage than Ratan Tata, whose string of dazzling takeovers took a largely domestic firm global. Now at […]

Hong Kong unemployment rises to highest level since 2017 in November

Hong Kong: Hong Kong’s unemployment rate rose to the highest level since 2017 in November, as months of protests continued to damage the Asian financial hub’s economy. The overall unemployment rate rose to 3.2 per cent as of the end of November, the Hong Kong government said in a release on Tuesday. That’s in line […]