BUSINESS

TikTok To Fight US Ban Law In Courts

US and other Western officials have voiced alarm over the popularity of TikTok with young people, alleging it allows Beijing to collect data and spy on users
TikTok's CEO vowed Wednesday to fight in the courts to overturn a newly signed US law that could see the popular app banned due to allegations it is controlled by the China government.

TikTok Suspends Rewards Programme After EU Probe

TikTok Lite arrived in France and Spain in March allowing users aged 18 and over to earn points that can be exchanged for goods
TikTok on Wednesday announced the suspension of a feature in its spinoff TikTok Lite app in France and Spain that rewards users for watching and liking videos, after the European Union launched a probe.
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More beer was sold but the outlook remains hazy

Heineken Beer Sales Pop But Hazy Days Ahead

Dutch brewer Heineken said Wednesday its beer sales were up but saw a "challenging and uncertain" economic outlook and couldn't guarantee the same growth for the rest of the year.
ASML employs around 42,000 in the world

China, Future HQ: New ASML Boss Faces Bulging In-tray

Frenchman Christophe Fouquet takes the reins of Dutch chip giant ASML on Wednesday with a daunting to-do list, top of which will be steering business with China as semiconductors become a geopolitical battleground.
Critics allege TikTok is subservient to Beijing and a conduit to spread propaganda, claims that China and the company strongly deny

Bill To Ban TikTok In US Clears Congress

The US Senate on Tuesday approved legislation requiring the wildly popular social media app TikTok to be divested from its Chinese parent company ByteDance or be shut out of the American market.
New home sales picked up in March

New US Home Sales Pick Up In March

Sales of new homes across the United States increased sharply last month, according to fresh government data published Tuesday, though February's numbers were revised lower.
Thames Water's future is in doubt given soaring debts and chronic underinvestment amid speculation over a costly state bailout

How UK's Biggest Water Supplier Sank Into Crisis

Thames Water, the UK's largest water supplier, has been ravaged since privatisation by soaring debts and chronic underinvestment, sinking into a deep financial crisis which has sparked bailout speculation.
The services sector propped up the eurozone's economic activity in April

Eurozone Business Activity Accelerates In April

The HCOB Flash Eurozone purchasing managers' index (PMI) published by S&P Global registered a figure of 51.4 in April from 50.3 in March. It was the highest in 11 months. Any reading above 50 indicates growth, while a figure below 50 shows contraction.
The London stock exchange has in recent weeks been lifted by weakening of the pound

London Stock Market Hits Record High

The London index has in recent weeks been lifted by weakening of the pound, particularly against the dollar, as markets anticipate cuts to UK interest rates in the coming months thanks to slowing price rises.
Investors are hoping Amazon and other tech titans including Apple and Alphabet can deliver strong earnings this week

Most Asian Markets Rise With Earnings, US Data In View

Asian markets mostly rose Tuesday, with hopes for earnings this week from tech titans helping to offset worries about the Federal Reserve's interest rate plans ahead of the release of key US growth and inflation data.

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