China factory explosion kills eight

BEIJING: At least eight people have been killed in an explosion at a biotech factory in northern China, state media reported on Sunday, revising the death toll upward by one. China’s state news agency Xinhua said the blast occurred on Saturday morning at the Jiapeng Biotech Company in Shanxi province. Earlier reports had put the…

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UBS banked Ghislaine Maxwell for years, moving her money after Epstein’s arrest

LONDON/TORONTO/FRANKFURT: Swiss banking giant UBS opened accounts for Ghislaine Maxwell in 2014, just months after JPMorgan Chase severed ties with Jeffrey Epstein, and helped manage up to $19 million of her assets in the years preceding her sex-trafficking conviction, according to documents. The documents, released last month by the U.S. Justice Department, offer new details…

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Washington Post publisher Will Lewis announces departure, following mass layoffs

WASHINGTON: Washington Post Publisher and Chief Executive Officer Will Lewis is stepping down from his role, the newspaper announced on Saturday, just days after carrying out sweeping layoffs across the organisation. In a message to staff, Lewis said he had taken “difficult decisions” during his tenure to secure the newspaper’s long-term sustainability and ensure it…

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India-US trade deal gives tariff-free access to Harley Davidson

India has agreed to sharply reduce import tariffs on high-end American automobiles and remove duties on Harley-Davidson motorcycles under an interim trade agreement with the United States, according to an official familiar with the matter. However, electric vehicles have been excluded from the concessions, a decision that effectively leaves US EV maker Tesla outside the…

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China steps up crypto crackdown, will vet real-world asset tokens

BEIJING: China vowed to further tighten its crackdown on virtual currencies on Friday and banned unauthorised offshore issuance of yuan-pegged stablecoins. Authorities will also strictly vet offshore issuance of tokens backed by Chinese onshore assets, according to a notice published on the central bank’s website. Although the statement largely reiterates Beijing’s existing ban on cryptocurrency,…

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