The Trump Administration's five-pronged Clean Network initiative aims to strip away Chinese phone makers' ability to pre-install and download U.S. apps. Under U.S. sanctions, Huawei already lost access to key Google services, which has dealt a blow to its overseas phone sales. Oppo, Vivo, Xiaomi, and other Chinese phone makers could suffer the same setback as Huawei, should the Clean Network applies to them.
Germany's Lufthansa said it does not expect air travel demand to return to pre-crisis levels before 2024 as a steep drop in revenue pushed it to its worst-ever quarterly operating loss of 1.7 billion euros ($2.02 billion). The airline said on Thursday the collapse in demand for air travel due to the COVID-19 pandemic meant it carried 96% fewer passengers between April and June than a year earlier, leading to an 80% drop in second-quarter revenue to 1.9 billion euros. Despite cost cuts, it posted an adjusted operating loss of 1.7 billion euros compared to 754 million euros a year earlier - the worst quarterly result in the company's 67-year history.
Aboard Air Force One on Friday, President Trump told reporters, "As far as TikTok is concerned, we're banning them from the United States." But as events progressed, the White House seemed to be offering the popular video-sharing app's owners an off-ramp. They're now in talks with Microsoft, which wants to acquire the app, and Trump has set a September 15 deadline for the companies to reach an agreement. (He also says any deal should include a payment to the Treasury.) Otherwise, he says, the U.S. government will ban the app.Before last weekend's news, there already was bipartisan agreement around doing something about TikTok. Over the weekend, Senator Chuck Schumer forcefully denounced...
Germany's BioNTech and China's Shanghai Fosun Pharmaceutical on Wednesday announced the start of another COVID-19 vaccine trial in China with a total of 144 participants. "The study is designed to support the regulatory approval process for the Chinese market and intends to confirm that the safety and immunogenicity profile observed in participants from the German and U.S. trials is comparable to that of Chinese participants," BioNTech said in a statement.