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Business and Economy Latest News
Nokia to cut up to 14,000 jobs as 5G demand slows
Finnish telecom giant Nokia said Thursday it would cut up to 14,000 job as profits fell on weakening demand for its 5G equipment in North America. Nokia had hoped that its 5G rollout in India would compensate for a slowdown in spending by North American telecom operators this year, but was faced with a disappointment.
Country Garden denies founder flees China as default looms
Chinese property giant Country Garden denied Thursday its founder and chairwoman had fled the country, as the debt-saddled builder flirts with a default that could send shockwaves through the industry. But her company is now on the frontlines of China's property crisis that has seen a string of debt-laden builders either defaulting or threatening to do so.
Country Garden denies founder, chairwoman have fled China
Chinese property giant Country Garden denied Thursday its founder and chairwoman had fled the country, as the debt-saddled builder flirts with a default that could send shockwaves through the industry. But her company is now on the frontlines of China's property crisis that has seen a string of debt-laden builders either defaulting or threatening to do so.
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