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No More Extension Of Waivers On Iranian Oil Imports: US

39% Rise In Huawei Revenues For First Quarter Despite Increased US Pressure

Reader's Pick

Saudis Hacked Phone Of Amazon CEO Bezos To Access Private Data 03/31/2019

Kellogg Agrees To Sell Its Snacks To Ferrero For $1.3 Billion 04/02/2019

Pinterest Preparing For Possible April IPO Launch 03/24/2019

Social Media Executives May Be Held Responsible For ‘Harmful Content’ 04/06/2019

AI Ethics Council Shut Down By Google Within A Week Of Unveiling 04/06/2019

Latest Business News
No More Extension Of Waivers On Iranian Oil Imports: US

No More Extension Of Waivers On Iranian Oil Imports: US

Markets

All the waivers given to some countries linked to the sanctions on Iranian oil by the United States would not be renewed, the Trump administration announced on Monday. Several countries were not imposed additional sanctions by the US for continuing to import Iranian oil even after a sanction on the country targeting its oil exports was imposed by the US last November.   "President Donald J...
39% Rise In Huawei Revenues For First Quarter Despite Increased US Pressure

39% Rise In Huawei Revenues For First Quarter Despite Increased US Pressure

Companies

Despite being cornered in a number of western countries including the United States, there was a 39 per cent increase in the first-quarter revenue at 179.7 billion yuan ($26.81 billion) for the Chinese tech giant Huawei Technologies, the company announced on Monday.   This is the first ever quarterly results revealed by the Chinese company.    The company also notched a net...
Pinterest IPO Values The Firm At $12.7 Billion

Pinterest IPO Values The Firm At $12.7 Billion

Companies

Despite the bad performance of the stocks of US ride hailing company Lyft Inc after its much hyped IPO, the market apparently seems to be showing some confidence in the tech IPO market because of the more than expected valuation for online scrapbook firm Pinterest Inc’s initial public offering which valued the company $12.7 billion on Wednesday.   The mobile app of Pinterest allows its...
Amazon To Close China Online Store As Intense Rivalry Hits It

Amazon To Close China Online Store As Intense Rivalry Hits It

Companies

Instead of selling goods over its e-commerce platform, e-commerce giant Amazon wants to concentrate on the profitable businesses of selling overseas goods and cloud services in China and has thus announced the closure of its online stores in the Chinese market which has the largest population in the world.   This decision is a clear indication of the level completion foreign e-commerce...
Almost All UK Adults Could Get £300 From Mastercard, After Court Ruling

Almost All UK Adults Could Get £300 From Mastercard, After Court Ruling

Companies

A court ruling in the United Kingdom that has allowed the filing initiation of a £14bn class action lawsuit against Mastercard has raised the possibility of every adult citizen in the country getting a payout of up to £300 from the payments company.   It has been alleged that over a period of 16 years, Mastercard had charged excessive transaction fees from about 46 million UK consumers...
Apple Talking To Firms For Possible Self Driving Car Sensor Supplier: Reuters

Apple Talking To Firms For Possible Self Driving Car Sensor Supplier: Reuters

Companies

According to a report from Reuters quoting sources with knowledge, iPhone maker Apple is holding negotiations with at least four companies for selecting as possible suppliers of lidar sensors in self-driving cars with the aim of judging the technology of the suppliers while still carrying on with its own program of development of the lidar unit.   This report clearly indicates that the...
Lufthansa Reports Q1 Loss Due To High Fuel Cost And Higher Capacity In Europe

Lufthansa Reports Q1 Loss Due To High Fuel Cost And Higher Capacity In Europe

Companies

Increase in jet fuel costs and the increasing capacity of seats in Europe were cited to be the reasons for an operating loss of 336 million euros or $380 million for the first quarter of the current year for Lufthansa. As a consequence, the shares of the company dropped on Tuesday.   The largest airline of Germany was severely hit by 202 million euro because increased costs of jet fuel...
J&J Share Rise Despite Firm Reporting Drop In Earning For Q1

J&J Share Rise Despite Firm Reporting Drop In Earning For Q1

Companies

Global healthcare giant Johnson & Johnson (J&J) reported a 14 per cent dip in its profits for its first quarter because of increasing legal costs as the company negotiates thousands of lawsuits against it over allegations that its talc baby powder was causing harm to users. the company has already expended almost $400 million to settle 25,000 cases related to its very successful product –...
Overtime Work Culture Defended As Being A 'Huge Blessing' By Alibaba Founder

Overtime Work Culture Defended As Being A 'Huge Blessing' By Alibaba Founder

Companies

The often criticised but rampant work culture of gruelling overtime at many of the tech companies of China has been defended by the billionaire founder of the Alibaba Group Jack Ma. He has said that such a work culture is a "huge blessing" especially for the young employees.   These comments were made by the founder owner of the Chinese e-commerce giant as he weighed into a debate related...
Disney Stocks Touch Record High After Announcing Launch Of Streaming Platform

Disney Stocks Touch Record High After Announcing Launch Of Streaming Platform

Companies

Following the announcement of the long awaited launch of its streaming services and some positive reviews and comments about the proposed business where in they said that the aggressive pricing strategy of the video streaming services is good enough to help it rival the likes of Netfilx and Amazon, the shares of Walt Disney Co reached an all time high on Friday.   On the other hand, there...
Uber’s I.P.O. Filing Shows It Lost $1.8 B In 2018

Uber’s I.P.O. Filing Shows It Lost $1.8 B In 2018

Companies

The US ride hailing company Uber opened up its finances in a prospectus on its IPO on Thursday as it prepares for the largest initial public offering in years.    While there is much enthusiasm about the IPO among investors and analysts, questions about the sustainability of the business model of Uber was raised by the contents of the prospectus. In the filing, the company said that...
Tesla, Panasonic To Watch Electric Cars Demand Before New Investment In Battery Plant

Tesla, Panasonic To Watch Electric Cars Demand Before New Investment In Battery Plant

Companies

According to a statement issued by US electric car maker Tesla on Thursday, new investments in the Gigafactory of Tesla would be made as needed jointly by Panasonic Corp and the U.S car maker.   In a separate statement, Panasonic said that before taking a final call on investments for capacity expansion of Tesla’s Gigafactory in Nevada, it would closely monitor the demand position in the...

World

Cyberterrorism: the electronic banking system at risk

Cyberterrorism: the electronic banking system at risk
Once hailed for the increased financial security it would provide, the digital revolution is now showing its dark side, with a new and potent form of digital threat. Across the world, increases in...

New Draft Law In China For IP Right Protection & Banning Forced Tech Transfer

New Draft Law In China For IP Right Protection & Banning Forced Tech Transfer
China is set to address one of the key demands on trade by the United States – which was one of the reasons for the trade war, by accelerating a lawmaking process that would draft a new legislation...

Trade War Main Risk In Next 6 Months For Asian Businesses: New Survey

Trade War Main Risk In Next 6 Months For Asian Businesses: New Survey
A Thomson Reuters/INSEAD survey noted a very cautious optimism within Asian companies for the last quarter of the current year as they closely watch the outcome of the trade negotiations between the...

South Korea Trying To Insulate Itself From US-China Trade War

South Korea Trying To Insulate Itself From US-China Trade War
Despite the temporary 90 day truce, the ongoing trade war between the United States and China has created a sense of uneasiness and uncertainty among Asian nations.     South Korea is one...

Study Blames Global Warming For Vanishing Snow In Switzerland

Study Blames Global Warming For Vanishing Snow In Switzerland
According to a report from the University of Geneva which was based on a study that made use of a new tool called the Swiss Data Cube that global warming could probably be the reason for the...

People

Japan Prosecutors Arrest Carlos Ghosn Again

Japan Prosecutors Arrest Carlos Ghosn Again
It was less than a month that former Nissan chief Carlos Ghosn, who has been arrested again, had been granted bail. Ghosn was arrested from his home in Tokyo on early Thursday morning over fresh...

Saudis Hacked Phone Of Amazon CEO Bezos To Access Private Data

Saudis Hacked Phone Of Amazon CEO Bezos To Access Private Data
According to the claims of an investigator, the phone of Amazon chief executive Jeff Bezos, the richest man in the world, was hacked by Saudi Arabia to access some of the personal dtat of Bezos....

People With Depression Likely To Fall Into A Crippling Debt Issue: UK Study

People With Depression Likely To Fall Into A Crippling Debt Issue: UK Study
A recent analysis in the United Kingdom has suggested that those individuals who have a mental health condition are more likely to fall in a debt related problem three and a half time more than those...

Carlos Ghosn To Fight The 'Meritless' Charges Against Him, Granted Bail

Carlos Ghosn To Fight The 'Meritless' Charges Against Him, Granted Bail
After having been released from detention on a bail bond of $9 million, the ousted Nissan Motor Chairman Carlos Ghosn is reportedly now making fresh preparations to create a strong defence for...

Nissan & Japanese Prosecutors Targeted By New Lawyer Of Carlos Ghosn

Nissan & Japanese Prosecutors Targeted By New Lawyer Of Carlos Ghosn
The charges that were brought against the dismissed Nissan chairman Carlos Ghosn by the Japanese auto maker were termed as an internal company matter by the new lawyer of Ghoisn as the car maker,...

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