Shortage of Chinese parts caused $50 billion fall in February’s global exports: U.N.

China’s exports of vital parts and components for products ranging from automobiles to cellphones are estimated to have shrunk by an annualized 2% in February, costing other countries and their industries $50 billion, a United Nations agency said on Wednesday. The world’s second-largest economy – and epicenter of the coronavirus outbreak that has spread to […]

Continue Reading

Telecom Italia fined 116 million euros for broadband market abuse

Italy’s competition watchdog said on Friday it had fined former phone monopoly Telecom Italia (TIM) 116 million euros ($131 million) for abusing its dominant position in the broadband market in an attempt to obstruct the entrance of rivals. The Italian antitrust authority said in a statement that Telecom Italia had conducted a “premeditated anti-competition strategy” […]

Continue Reading

Canada’s tourism industry ‘deeply affected’ by virus outbreak: minister

The outbreak of the new coronavirus is hammering Canada’s tourism industry, a senior government official said on Friday, as the number of visitors from China plummeted and after the cancellation of a major technology convention. Chinese tourists generate about C$2 billion annually in Canada, but their numbers have dwindled and revenue from their visits is […]

Continue Reading