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Americans would dominate board of new TikTok US entity: W.House
Americans would dominate board of new TikTok US entity: W.House
by  AFP

A deal for the Chinese parent company of popular video-sharing app TikTok to sell its US operations would see the creation of a board dominated by Americans, the White House said Saturday. "There will be seven seats on the board that controls the app in the United States, and six of those seats will be Americans," White House press secretary Karoline Leavitt told Fox News.

Novartis chief eyes ways to end higher US drug prices: media
Novartis chief eyes ways to end higher US drug prices: media
by  AFP

Amid a threat of towering US tariffs, Swiss pharmaceutical giant Novartis is seeking ways to enable Americans to pay less for their medicines, its chief said in an interview published Saturday. "We are working with the government and trying to find constructive solutions so that Americans pay less for their medicines," he told the Swiss daily.

Trump's $100,000 fee for H-1B visas, a tech industry favourite, concerns India
Trump's $100,000 fee for H-1B visas, a tech industry favourite, concerns India
by  AFP

India's leading trade body said on Saturday it was concerned by a new annual $100,000 fee that US President Donald Trump ordered for H-1B skilled worker visas, an addition that could have major repercussions for the tech industry where such permits are widespread. It was also concerned by the short timeline, with the new fees under Trump's order coming into effect on Sunday.

Bumper harvest falls flat for Italy's Asti vineyards
Bumper harvest falls flat for Italy's Asti vineyards
by  AFP

The storied Asti region of northern Italy saw a lush harvest this year but many winegrowers are leaving some grapes on the vine, choosing to produce less as US and Russian demand drops. - Hot summer - Leaving grapes is what some winegrowers are doing in Asti to produce less sparking white.

Trump sees progress on TikTok, says will visit China
Trump sees progress on TikTok, says will visit China
by  AFP

US President Donald Trump hailed on Friday a call with Chinese counterpart Xi Jinping, claiming a deal to sell blockbuster app TikTok could be a "formality" and saying he would visit China, which gave a more cautious assessment of their talks. Trump said that Xi "approved" the deal during the phone call, but later said: "We have to get it signed...

Porsche slows electric shift, prompting VW profit warning
Porsche slows electric shift, prompting VW profit warning
by  AFP

German sports car maker Porsche said Friday that it would dramatically slow its shift to electric vehicles amid weak demand, prompting parent company Volkswagen to warn of a multibillion-euro hit. The maker of the 911 sports car cited the "significant slower growth of the demand for exclusive battery-electric vehicles" as a reason for making the changes.

Independence of central banks tested by Trump attacks on US Fed
Independence of central banks tested by Trump attacks on US Fed
by  AFP

For months, US President Donald Trump has been piling pressure on the Federal Reserve over delayed cuts to interest rates, casting the institution's independence into doubt. Cutting interest rates helps households borrow for consumption and businesses for investment, promoting growth but at the risk of spurring inflation.