The escalating trade war between Washington and Beijing dominated discussions at the G-7 gathering in France.Politicsread more
The latest round of tariff announcements in the last few days means that by the end of the year, essentially all Chinese goods exported to the U.S. will be subject to duties.China Economyread more
Futures fell after Trump said the U.S. will raise tariffs on more than $500 billion worth of Chinese imports, increasing trade tensions.Marketsread more
Tensions stemming from the U.S.-China trade war escalated sharply over the last few days, with much happening as Asian markets were shut down for the weekend.China Economyread more
Clouding the G-7 gathering, which represents the world's major industrial economies, are the tit-for-tat tariffs between Washington and Beijing.Politicsread more
Neither the U.S. nor China wants to be seen as the party that derailed trade talks, says William Reinsch of Center for Strategic and International Studies.World Economyread more
China said Friday it will be resuming 25% duties on U.S. autos, and a further 5% on auto parts and components.Asia Marketsread more
World leaders, environmental groups and celebrities have publicly decried the vast swaths of forest being destroyed by the fires.World Newsread more
Education Minister Ong Ye Kung says the Singapore government has been preparing for the challenge of an aging workforce "for the past 20 years."Employmentread more
Megvii is known for its facial recognition technology and while revenue grew over 350% in 2018, its losses have widened.Technologyread more
Stocks in Asia fell Monday afternoon following an escalation in the U.S.-China trade war late last week.Asia Marketsread more
The CEO of Hong Kong airline Cathay Pacific, Rupert Hogg, is to step down as the company's leader "in view of recent events."
The airline has been under huge political pressure from Beijing after one of its pilots was found to have taken part in the ongoing protests in Hong Kong. Another pilot was then said to have misused company information related to the protests. Both were subsequently sacked by the airline.
In a statement to the Hong Kong Stock Exchange on Friday, Cathay Pacific's board confirmed that Hogg would step down as CEO despite there not being any matter that shareholders needed to be made aware of.
"He has also confirmed that he has resigned to take responsibility as a leader of the Company in view of recent events and that he is not aware of any disagreement with the Board," added the statement.
From Monday, Hogg will be replaced by Augustus Tang. The airline also confirmed that Paul Loo has resigned as an Executive Director and Chief Customer and Commercial Officer and, on Monday, will be replaced by Ronald Lam.
In a separate statement issued by the airline, outgoing CEO Hogg said: "These have been challenging weeks for the airline and it is right that Paul and I take responsibility as leaders of the company."
Cathay's chairman, John Slosar, added that it was time to put "a new management team in place who can reset confidence".
On Wednesday, the airline announced that it had fired two pilots it had previously suspended. One had been arrested and charged over clashes between police and anti-government protesters on July 28.
Meanwhile, it was revealed that another cockpit crew member was said to have been suspended for misusing company information by posting on social media details of Hong Kong police officers travelling on the airline.
Last week, the Civil Aviation Authority (CAA) of China issued a warning to Cathay Pacific, related to the pilot actions, describing them as a "major aviation safety risk."
Protests in Hong Kong are now several weeks old and have morphed from concerns over an extradition bill into wider concerns about basic freedoms and the level of control coming from Beijing.
Hong Kong is a Chinese territory of 7.4 million people which was formerly part of the British Empire. It has been a specially administered region of China since July 1, 1997.
It has its own government, currency, police force and civil service but mainland China handles foreign affairs and defense.
At the conclusion of its statement Friday, the airline loosely referenced the tension that has crippled the financial hub for almost 3 months.
"Cathay Pacific is fully committed to Hong Kong under the principle of 'One Country Two Systems' as enshrined in the Basic Law. The Company is confident that Hong Kong will have a great future."
The board changes were announced after the close of Friday trade on Hong Kong's Hang Seng index.