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Coronavirus mortgage bailouts suddenly swell as homeowners face new struggles
World

Coronavirus mortgage bailouts suddenly swell as homeowners face new struggles

As of Tuesday, 4.68 million homeowners were in forbearance plans, allowing them to delay their mortgage payments for at least three months. This represents 8.8% of all active mortgages, up from 8.7% last week. Together, they represent just over $1 trillion in unpaid principal. The number of active forbearance plans rose by 79,000 in the past week, erasing roughly half of the improvement seen since the peak of May 22, according to Black Knight, a mortgage data and technology firm. By comparison, the number of borrowers in forbearance plans fell by 57,000 the previous week. Increases happened every day for the past five business days. After declining for three weeks, the number of borrowers delaying their monthly mortgage payments due to the coronavirus rose sharply once again. The mortga...
SFA recalls 10 winter melon products for high levels of sulphur dioxide
World

SFA recalls 10 winter melon products for high levels of sulphur dioxide

SINGAPORE: The Singapore Food Agency (SFA) on Monday (Jun 29) issued an advisory regarding ten varieties of winter melon products after samples were found to have high amounts of the allergen sulphur dioxide. Seven importers were directed to recall the products, many of which were imported from Malaysia. The products are as follows: All batches of Zheng Shi Ming candied melon strips (3kg) imported by Yuan Sang, manufactured on Jun 13, 2020 All batches of Sweet Homes preserved winter melon (250g) imported by Bake with Yen, manufactured on Apr 24, 2020 All batches of Winter Melon Sweet (300g) imported by Ah Pau Choy from Vietnam with expiry dates in October 2021 All batches of candied melon (300g) imported by Z T P Ginseng Birdnest from China, with best before dates before November ...
TikTok denies sharing Indian user data with Chinese govt
USA, World

TikTok denies sharing Indian user data with Chinese govt

NEW DELHI: TikTok denied Tuesday (Jun 30) sharing Indian users' data with the Chinese government, after New Delhi banned the wildly popular app in a sharp deterioration of relations with Beijing two weeks after a deadly border clash. "TikTok continues to comply with all data privacy and security requirements under Indian law and have not shared any information of our users in India with any foreign government, including the Chinese government," TikTok India chief Nikhil Gandhi said in a statement. "Further if we are requested to in the future we would not do so. We place the highest importance on user privacy and integrity," he said, adding that it had been invited to a meeting with the Indian government "for an opportunity to respond and submit clarifications". TikTok is owned by C...
Tesla’s China car registrations up 150per cent month on month in May
World

Tesla’s China car registrations up 150per cent month on month in May

U.S. electric vehicle maker Tesla Inc's China car registrations in May jumped 150per cent month on month, data from auto consultancy LMC Automotive showed. BEIJING: U.S. electric vehicle maker Tesla Inc's China car registrations in May jumped 150per cent month on month, data from auto consultancy LMC Automotive showed. Tesla's China registrations, including imported cars, grew to 11,565 in May from 4,633 units in April. Data from China Passenger Car Association shows sales of Tesla's Shanghai-made Model 3 sedan hit 11,095 units. Tesla did not immediately respond to a request for comment. (Reporting by Yilei Sun; editing by Jason Neely)
Mitsubishi Aircraft to slash over half its workforce in restructuring move
World

Mitsubishi Aircraft to slash over half its workforce in restructuring move

Mitsubishi Aircraft Corp. will cut more than half of its 2,000-strong workforce in a restructuring move as the coronavirus devastates travel demand and delays continue to plague its regional jet project, a source close to the matter said. The aircraft-making subsidiary of Mitsubishi Heavy Industries Ltd. will also close its U.S. headquarters, a development center in Canada and sales offices in the United States and Europe, the source said. While the company’s testing site in the state of Washington will remain, its workforce will be also drastically reduced. By making the small regional jet, now known as the Mitsubishi SpaceJet, MHI hoped to succeed in the commercial aircraft market as airlines shifted to small and midsize planes from larger ones to improve fuel-efficiency. The plane wa...
Possibly millions of jobs could be lost if planes stay grounded, Heathrow boss says
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Possibly millions of jobs could be lost if planes stay grounded, Heathrow boss says

related media assets (image or videos) available. Click to see the gallery. 2 related media assets (image or videos) available. Click to see the gallery. LONDON: Hundreds of thousands of jobs, if not millions, could be lost in Britain if aviation is not able to resume quickly, the chief executive of London's Heathrow Airport said on Monday (Jun 8). Britain introduced a 14-day quarantine period for international arrivals on Monday despite warnings from its biggest airlines that the move will decimate domestic tourism and damage exports. "We cannot go on like this as a country," Chief Executive John Holland-Kaye told Sky News. "We need to start planning to reopen our borders. "If we don't get aviation moving again quickly, in a very safe way, then we are going to lose hundreds of th...
Germany launches coronavirus app as EU eyes travel revival
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Germany launches coronavirus app as EU eyes travel revival

BERLIN: Germany appealed to the public on Tuesday to download a new smartphone app to help break the chain of coronavirus infections, one of several such apps that European governments hope will revive travel and tourism safely. The Corona-Warn-App, now available for Apple and Android devices, uses Bluetooth short-range radio to measure close contacts between people and issues a warning should one of them later test positive for COVID-19. "This app isn't a cure-all. It's not a free pass. But it's an important additional tool for containing the pandemic," Health Minister Jens Spahn told a launch event. Germany joins Italy, Poland and Latvia in launching apps based on technology from Apple and Alphabet's Google that preserves privacy by logging Bluetooth contacts securely on devices. ...
Japan may let in quota of 250 businesspeople from four countries daily
World

Japan may let in quota of 250 businesspeople from four countries daily

Japan plans to ease its coronavirus travel restrictions by letting in up to around 250 business travelers per day from Australia, New Zealand, Thailand and Vietnam, government sources said Thursday. The quota, which authorities aim to introduce this summer, will initially apply to businesspeople such as executives and engineers, the sources said, adding that the government task force on the virus response is expected to finalize the details of the plan soon. The nation currently has an entry ban in place for 111 countries and regions, with foreign travelers who have been to any of those areas within the last two weeks being turned away. The government is also considering setting up stations to conduct polymerase chain reaction (PCR) tests on people leaving Japan, as some countries have ...
Virtual tours and opportunities: The Singapore property market during COVID-19
Market, Singapore, World

Virtual tours and opportunities: The Singapore property market during COVID-19

Singapore is now in the first phase of the post-circuit breaker period. Some sectors of the economy have reopened, but it isn’t quite business as usual in the property sector. Money Mind reports. SINGAPORE: Singapore is now in the first phase of the post-circuit breaker period. Some sectors of the economy have reopened, but it isn’t quite business as usual in the property sector. Developers’ show galleries remain closed, and property agents are still unable to conduct face-to-face meetings or viewings with prospective buyers. Amid these challenging operating conditions, new private home sales fell 12 per cent in the first quarter. In the same period, prices fell 1 per cent. Most market watchers expect prices to continue this downward trend. Ms Christine Sun, head of research and c...
Malaysia resumes travel, haircuts and retail therapy as coronavirus curbs ease
World

Malaysia resumes travel, haircuts and retail therapy as coronavirus curbs ease

KUALA LUMPUR: Hair salons and shopping malls reopened, traffic jams returned and interstate travel resumed in Malaysia on Wednesday in a further easing of coronavirus restrictions to revive an economy hard hit by the pandemic. In the capital Kuala Lumpur, customers queued for temperature checks at malls while shop staff added the finishing touches to window displays. Barber shops and beauty salons were reopening to customers after having to remain shut for nearly three months. "Thank God the government decided to ease movement control order restrictions, so we can go out and get our hair cut and become handsome again," joked Abdul Rahman Mohamed after his trim. "Before we looked terrible." Malaysia confirmed two new COVID-19 infections on Wednesday, the lowest number since restrict...