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According to the latest media reports, South Korea and China are set to hold bilateral talks on the economy later this week. The talks will be held on Saturday in Qingdao, eastern China, where deputy ministers of the two sides will hold annual economic cooperation talks, South Korea’s Yonhap news agency said. The meeting comes amid escalating China-US trade and security tensions

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Apple became the fastest-growing smartphone maker in China in the second quarter. The cheaper iPhone SE and the popularity of the iPhone 11 series, along with deep discounts, helped Apple get a boost. The sell-through volume for iPhones in China was 7.4 million units in the April to June quarter, a 32% growth year-on-year, according to Counterpoint Research. On a quarter-on-quarter basis, iPhone sales jumped 225%

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Five days after a massive ransomware attack, some of Garmin's services are beginning to come back online. Sam Curry, chief security officer of cybersecurity company Cybereason, said the ransomware attack on Garmin was "crippling," and called it "the corporate equivalent of a heart attack." "The longer Garmin is offline, the cost of recovery increases and could cost tens of millions of dollars more," he said.

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Facebook has rescheduled its second-quarter earnings report due to a conflict related to an antitrust hearing. On Wednesday, the House Judiciary Antitrust Subcommittee will hold a hearing with the chief executives of Amazon (AMZN), Apple (AAPL), Facebook, and Google-owner-Alphabet (GOOGL). The Facebook earnings report comes after the market close. Amazon also reports second-quarter earnings after the close Wednesday.

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Moderna Inc and Pfizer Inc launched two 30,000-subject trials of COVID-19 vaccines that could clear the way for regulatory approval and widespread use by the end of this year, the companies said on Monday. The trials, both announced on Monday, are the first late-stage studies supported by the Trump administration's effort to speed development of measures against the novel coronavirus.

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Gold prices broke all previous records on Monday morning as political tensions between China and the US escalated. In the morning of Asian trading hours on Monday, spot gold traded at about $1,931.11 per ounce after earlier trading as high as $1,943.9275 per ounce. Those levels eclipsed the previous record high price set in September 2011. Coronavirus crisis also played a major role in the recent price action

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Mark Zuckerberg, Jeff Bezos, Tim Cook and Sundar Pichai -- the CEOs of Facebook, Amazon, Apple and Google-owned Alphabet -- were scheduled to sit before the House Judiciary Subcommittee on Antitrust. Late on Thursday, a source familiar with the matter said the hearing was very likely to be delayed.

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McDonald’s will require customers to wear face coverings, starting Aug. 1, and will pause its reopening of dining rooms for another 30 days as coronavirus cases continue to surge in some parts of the country. McDonald’s joins other large retailers and restaurant companies such as Walmart, Kroger and Starbucks, in requiring customers to wear masks across all U.S. locations.

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TikTok, The Chinese-owned video-sharing app, which already employs 1,400 people in the U.S., has hired dozens of staff from Google and Facebook including several high-profile executives to help the company expand rapidly within the region. TikTok and Facebook declined to comment. Worldwide, TikTok employs 172 ex-Googlers and 165 ex-Facebookers, according to an analysis on LinkedIn

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Chinese stocks mostly deepened losses by the close as U.S.-China tensions worsened on Friday. In mainland China, the Shanghai composite pared some losses but still ended the day 3.86% lower at 3,196.77, while the Shenzhen composite tumbled 5% to close at 2,138.36. The Shenzhen component dived 5.31% to close at 12,935.70. The Chinese yuan, a barometer of Sino-U.S. tensions, looks set for its worst week in two months

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Coronavirus pandemic has ended the three-decade growth of Australia as its budget deficit is expected to deepen significantly. The government said its budget deficit is forecast to deepen significantly to 85.8 billion Australian dollars ($61.27 billion) in the financial year that ended on June 30 and further widen to 184.5 billion ($131.78 billion) in the new fiscal year, biggest since the World War II

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Over the past few weeks, Thailand has lost many Government Ministers holding key positions, due to the coronavirus crisis. So far, six Thai ministers have resigned including Finance minister Uttama Savanayana. The country also lost Deputy Prime Minister Somkid Jatusripitak, whom the Reuters report referred to as an “economic policy czar.” Thailand’s economy depends heavily on tourism and coronavirus has thrashed all economic activities

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According to the Bloomberg Billionaire Index, Amazon founder and CEO Jeff Bezos added $13 billion to his net worth on Monday. It was the most significant single-day increase in personal wealth since the index started in 2012, Bloomberg reported after analysts raised their targets for Amazon's stock, which jumped 7.9 percent Monday, ahead of the company's second-quarter earnings report

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Walmart said Tuesday that it will give another round of bonuses to hourly employees and close its stores on Thanksgiving Day. The big-box retailer said in a news release that it will spend about $428 million on the bonuses to thank employees for working during the pandemic. Full-time hourly employees will receive $300 and part-time and temporary workers will get $150. The company will pay the bonuses on Aug. 20

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India's biggest airline IndiGo has become the latest carrier to reveal how hard it has been hit by the collapse in demand for flights due to Covid-19. The airline said it will shed 10% of its staff amid a slump in revenues. In a letter to investors, IndiGo's chief executive Ronojoy Dutta said: "It is impossible for our company to fly through this economic storm without making some sacrifices"

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After five days of intense discussions, European Union leaders have agreed on a 750 billion euro stimulus plan to help fund Europe's recovery from the coronavirus crisis. The deal would focus on providing funding across three pillars: creating reforms to help businesses rebound from the pandemic, rolling out new measures to reform economies over the long haul, and investing to help protect from "future crises."

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The New York Times is moving some staff out of Hong Kong due to a new security law imposed by China on the city, as both foreign and local media face increased uncertainty in the Asian financial hub. Some NYT employees in Hong Kong "have faced challenges securing work permits," the paper reported Tuesday in an article detailing the decision to move some staff to Seoul, South Korea

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Delta Air Lines posted its worst loss since 2008, and it warned that bookings are declining as Covid-19 cases rise, forcing the airline to trim its schedule again. The company had planned to add 1,000 flights a day to its August schedule as Delta reported a modest pickup in bookings. The airline said it lost $2.8 billion, excluding special items. Including those items, Delta's net loss came to $5.7 billion

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Disney heiress Abigail Disney is among the millionaires calling for governments to impose higher taxes on the wealthy to help fund the recovery from the coronavirus pandemic. “Tax us. Tax us. Tax us,” an open letter from the group calling itself “Millionaires for Humanity” read. The 83 signatories on the letter also included Abigail’s brother Tim, Ben & Jerry’s co-founder Jerry Greenfield, as well as British movie director, Richard Curtis

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Chairman of the New York-based office space sharing company WeWork, the company is set to see positive cash flow and profits in 2021, a year ahead of schedule, company chairman Marcelo Claure said in an interview with the Financial Times published Sunday. “Everybody thought WeWork was mission impossible. And now, a year from now, you are going to see WeWork to basically be a profitable venture ” Claure said

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Tim Clark, The President of Dubai's flagship carrier Emirates airline says that the airline plans to cut 10-20% of its workforce and that it was burning up to $1 million cash an hour at the worst of the COVID-led global restrictions that saw a sudden and exhaustive freeze in air travel across almost all regions of the world. Clark made these comments in an interview with CNN's Richard Quest

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According to the data compiled by Bloomberg Billionaire Index, India's richest man and Chairman of Reliance Industries is now worth $68.3 billion, surpassing Buffett's $67.9 billion as of Thursday. Shares of Ambani's Indian conglomerate have more than doubled since a low in March as its digital unit got more than $15 billion in investments from companies including Facebook Inc. and Silver Lake

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The current director-general of WTO, Ricardo Azevedo, said he will leave the Organization on August 31 as the Geneva-based is going through a serious identity crisis. Some of the key candidates to take the helm of the World Trade Organization are, Jesus Seade Kuri from Mexico, Ngozi Okonjo-Iweala from Nigeria and Abdel-Hamid Mamdouh from Egypt

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UK finance minister Rishi Sunak has unveiled another £30 billion ($37.6 billion) coronavirus stimulus package aimed at stemming Britain's growing jobs crisis and lifting the economy out of its worst slump in centuries. Speaking in parliament on Wednesday, Sunak said that significant job losses are the most "urgent challenge" the UK economy faces, as he announced a package of tax breaks

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The coronavirus pandemic has now claimed one of the country’s oldest and most prestigious retailers. Brooks Brothers, pioneer of the polo and uniform of the polished prepster, filed for bankruptcy on Wednesday, as it continues to search for a buyer. The biggest issue for the retailer was rent, and the pandemic torpedoed a sale process that began in 2019.

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