Business

British government restricts Huawei's involvement in 5G network, blocking access to core systems and government networks. Decision follows recommendations from officials and aligns with previous guidelines, despite ongoing tensions with the United States over potential security risks.

A new deadly coronavirus outbreak in China is causing significant market uncertainty, with Asian stocks experiencing sharp declines. Analysts warn of potential economic impact, noting losses in airline and tourism sectors. The virus draws comparisons to the SARS epidemic of 2002-2003, raising concerns about its global economic consequences.

The International Labor Organization warns of a critical global employment crisis, with unemployed individuals expected to rise to 190.5 million in 2020. ILO chief Guy Ryder describes the situation as "extremely worrying," noting significant underemployment and skill mismatches in the global workforce.

American electric car maker Tesla is set to establish its first European Gigafactory near Berlin, Germany. The 300-hectare property in Brandenburg will enable Tesla to use the prestigious "Made in Germany" label while creating thousands of job opportunities for local workers.

A week after Taal Volcano's eruption caused widespread ashfall, Philippine authorities have permitted businesses in Tagaytay City to reopen. Restaurants, hotels, supermarkets, and tourist attractions are now operational after securing necessary safety permits from local and national agencies.

Jollibee Foods Corporation successfully raised $600 million through its first perpetual securities issuance, aimed at supporting overseas expansion and replenishing costs from recent acquisitions like The Coffee Bean and Tea Leaf.

Toyota has invested $394 million in Joby Aviation, a Californian aerospace company developing an all-electric, six-rotor flying taxi with five seats. This strategic partnership aims to revolutionize air transportation, with Toyota's CEO Akio Toyoda emphasizing the goal of providing mobility freedom across land and sky.

Cathay Pacific Airways is offering up to one month of unpaid leave to its 27,000 employees, particularly pilots and cabin crew, as the airline struggles with financial losses from seven months of pro-democracy protests and reduced flight schedules.

Pinterest has surpassed Snapchat in user numbers, reaching 82.4 million users in the United States by the end of 2019. The platform's growth of over 9% highlights its universal appeal across different age demographics, positioning it as a versatile visual discovery platform.

Amazon has reinstated FedEx's ground and home delivery services for third-party sellers after temporarily suspending them last month. The e-commerce giant cited poor performance during the 2019 holiday season as the initial reason for the ban. Following FedEx meeting delivery requirements, Amazon has officially allowed the courier to resume services, with FedEx shares rising 3% on the announcement.