Business

Airbnb has banned individuals under 25 from booking entire properties in Canada following a tragic incident in Toronto. The company's blanket policy affects young adults of legal age, raising concerns about fairness and effective safety strategies. Analysts suggest alternative approaches to preventing dangerous rental situations.

Appleby, an international law firm, was at the center of the 2017 Paradise Papers leak, exposing confidential financial transactions of wealthy individuals. The 13.4 million leaked documents sparked global controversy, highlighting the firm's regulatory challenges and potential financial improprieties.

Mike Lynch, former Autonomy CEO, faces £3.8bn civil fraud trial in London over allegations of deceitfully overstating company's worth before HP's £8.4bn acquisition. Prosecutors claim Lynch and executives artificially inflated profits for three years, leading HP to significantly overpay for the company.

A senior Goldman Sachs executive, Andrea Vella, was permanently banned from banking by the US Federal Reserve for his role in the 1MDB fraud. Regulators found he failed to disclose crucial information about financier Low Taek Jho's involvement in bond offerings, engaging in unsafe and unsound practices.

TCL Communication will cease manufacturing BlackBerry-branded Android devices this August, concluding a partnership that began in 2016 and helped resurrect the once-struggling smartphone brand.

The Organization of Petroleum Exporting Countries (OPEC) and allies are holding an emergency meeting to address sharp oil price declines caused by coronavirus concerns. With China's economic slowdown and global market uncertainty, the group seeks to stabilize petroleum markets and mitigate potential economic disruptions.

Singapore has updated its Global Investor Programme (GIP) to make it easier for successful businessmen and entrepreneurs to obtain Permanent Residence, aiming to strengthen the country's banking and finance sector and attract innovative commercial opportunities.

International companies are temporarily closing outlets in China to help control the coronavirus spread, with over 200 Chinese deaths and nearly 10,000 global infections reported. Automobile and technology giants are suspending operations in response to the developing pandemic.

The Allied Pilots Association (APA) filed a lawsuit against American Airlines to immediately stop US-China flights, citing safety concerns during the coronavirus pandemic. The union seeks a temporary restraining order, highlighting the need to protect crew and passenger well-being amid global health risks.

The Malaysian Rubber Glove Manufacturers Association reports surging global demand for medical gloves as coronavirus spreads. MARGMA President Denis Low confirms urgent requests from China and pledges to prioritize supplying affected regions with increased production of protective medical gloves.