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Trump says ZTE to pay fine to reopen

US President Donald Trump said the US would allow Chinese telecommunications equipment maker ZTE Corp (中興通訊) to remain in business after paying a US$1.3 billion fine, changing its management and board and providing “high-level security guarantees.” In a tweet on Friday evening, Trump confirmed a dealFULL STORY

US-China spat frustrates Asia-Pacific free-trade drive

The US and China’s on-again, off-again trade dispute is casting a shadow over Asia-Pacific nations’ efforts to further open up global trade, a senior Australian government official said. Delegates at an APEC forum in Port Moresby this weekend pledged to keep pursuing a free and fairFULL STORY

US files WTO trade protest against Canada over wine

The US on Friday filed a trade complaint against Canada over unfair regulations that Washington says impede the sale of US wine in one of the northern neighbor’s provinces. Adding another item to the growing list of US trade disputes, US Trade Representative Robert Lighthizer saidFULL STORY

Fiat Chrysler warns 5.3m owners: Do not use cruise control until software update

Fiat Chrysler Automobiles (FCA) NV is recalling more than 5.3 million vehicles in the US, Canada and elsewhere because in rare but terrifying circumstances, drivers might not be able to turn off the cruise control. The company is warning owners not to use cruise control untilFULL STORY

Apple sees steep rise in US national security requests

Apple Inc on Friday issued its twice-yearly transparency report on government data requests, showing another sharp increase in US national security-related requests. Apple said it received 16,249 national security requests affecting up to 8,249 accounts during the second half of last year. The number of requests roseFULL STORY

Learning to nap in New York, the city that never sleeps

By Laura Bonilla

New York is the city that never sleeps, but arduous commutes, hellish hours and ultracompetitive jobs mean even the most wired of party animals or dedicated employees have to recharge their batteries. However, instead of knocking back a coffee or quaffing an energy drink, a growingFULL STORY

Baked goods and Wi-Fi — Climbing Everest in luxury

By Annabel Symington

Wi-Fi, baked goods and trendy coffee: Gone are the days of deprivation at Everest Base Camp, with hipster perks and modern conveniences ensuring life is cushier than ever on the roof of the world. The Khumbu Glacier at the foot of Everest transforms every spring intoFULL STORY

Tokyo tackles tourism boom, readies for Olympics with new cab

By Jack Tarrant

Tokyo’s taxi industry is undergoing some radical changes as Japan, already dealing with unprecedented levels of tourism, gears up to host two major sporting events in the next 26 months. More than 28 million tourists visited Japan last year and the government has set a goalFULL STORY

TAIEX flat despite unease over summit’s cancelation

Local shares on Friday closed little changed amid lingering geopolitical concerns after US President Donald Trump on Thursday canceled a planned summit with North Korean leader Kim Jong-un, dealers said. While electronics heavyweights generally remained in the doldrums and petrochemical stocks were hit by aFULL STORY

Spain, Italy political risks rattle bond, stock markets

Borrowing costs in southern Europe on Friday shot up and stock markets in Madrid and Milan, Italy, tumbled as a no-confidence motion proposed against Spain’s prime minister exacerbated a sell-off sparked by growing political risk in Italy. Spanish Socialist Workers’ Party secretary-general Pedro Sanchez on FridayFULL STORY

US stocks dip as oil, energy firms fall sharply

Energy companies and oil prices on Friday took their worst losses in months on reports OPEC countries plan to produce more oil soon. Stock indexes finished an indecisive week with small losses. US crude oil sank 4 percent after multiple reports indicated that Russia and OPECFULL STORY

Crude oil prices fall after hints of restraint easing

Oil prices on Friday fell the most in 11 months in New York as Saudi Arabia said it expects OPEC and its partners to boost supplies later this year, easing restraints intact since early last year. US futures were down 4 percent, the biggest drop sinceFULL STORY

New Taiwan dollar slides as greenback rises against peers

The New Taiwan dollar on Friday fell against the US dollar, shedding NT$0.15 to close at NT$29.945. Turnover totaled US$815 million during the trading session. The greenback opened at NT$29.945 and moved between NT$29.908 and NT$29.954 before the close. That compared with a close of NT$29.912FULL STORY

World Business Quick Take

SMARTPHONES Xiaomi eyes Hong Kong IPO Xiaomi Corp (小米) aims to seek formal Hong Kong stock exchange approval on June 7 for an initial public offering (IPO) that could raise about US$10 billion, people with knowledge of the matter said. The Beijing-based smartphone maker hopes to priceFULL STORY

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