Business

The CEO of TikTok, Shou Zi Chew, has ended his first public hearing before the United States Congress, where he sought to allay worries over the app’s links to the Chinese government and its purported inability to prevent “harmful” content. Thursday’s meeting, which lasted longer than five hours, was held before the House Energy and Commerce Committee. Both Democrats and …

In light of growing global skepticism of TikTok, which may result in a US ban on the Chinese app, the emphasis has now shifted to the app’s enigmatic CEO, Shou Zi Chew. Thursday, the 40-year-old Singaporean will testify in front of the US House Energy and Commerce Committee regarding the app’s data security and privacy standards, as well as its …

Beginning on March 22, customers in the Philippines will be able to get their hands on the burgers from the restaurant owned by MrBeast, the online persona of Jimmy Donaldson, a YouTube star in the United States. MrBeast Burger is a smash burger, chicken sandwich, and fries restaurant brand that originated in the United States as a pop-up shop and …

Monday morning, Bessie Coleman, the first African American and Native American to achieve her international pilot’s license, landed at Max Westheimer Airport to encourage Oklahoma Aviation Academy students to chase their aspirations. In some aspects, it was the same as 1925. Bessie Coleman was represented by her great niece Gigi Coleman, who founded the Bessie Coleman Aviation All-Stars, a non-profit …

Following the announced takeover by UBS Group AG, the Monetary Authority of Singapore (MAS) confirmed today that Credit Suisse Group AG (CS) will continue to operate in Singapore without delays or limitations (UBS). Clients of CS will retain full access to their accounts, and all contracts between CS and its counterparties will remain in effect. The acquisition is not anticipated …

Friday, March 17, police in Vietnam arrested a Facebook user who was accused of “attempting to destroy the state” by uploading content that defamed leaders of the ruling Communist Party, according to the country’s security ministry. The police-run Ministry of Public Security stated in a statement that Phan Thi Thanh Nha, 39, was accused of uploading and sharing 25 articles …

The Monetary Authority of Singapore (MAS) announced on Thursday that Singapore banks DBS, OCBC, and UOB have “insignificant” exposure to struggling banking giant Credit Suisse (Mar 16). In response to media inquiries, MAS stated that Singapore’s financial sector is sound and resilient. “Singapore banks are well-capitalised and undergo regular stress tests against credit and other risks,” the financial authority stated. …

Credit Suisse accepted the offer from the Swiss central bank to help it financially hours after it made the announcement in an effort to reassure investors that it had the funds it needed to survive. Credit Suisse said that it would take out a loan from the Swiss National Bank for up to 50 billion Swiss Francs ($53.7 billion). On …

Big-box retailers are leaving Canada because they can’t replicate their U.S. success. Nordstrom closed its Canadian business last month due to a lack of a “realistic path to profitability.” But, Lowe’s sold its Canadian retail operation to Sycamore Partners for $400 million in cash. After raising financing to avoid bankruptcy, Bed Bath & Beyond’s Canadian businesses will close, according to …

Customers of Signature Bank, alarmed by the sudden failure of Silicon Valley Bank, withdrew almost $10 billion in deposits on Friday, a board member told CNBC. This rapid withdrawal of money caused the third-largest bank failure in U.S. history. Sunday evening, regulators announced that Signature was being taken over to preserve the bank’s depositors and the stability of the United …