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Wells Fargo Q4, 2018 Earnings Reflect Effect Of Its Multiple Scandals

A series of scandals that dented the image of one of the largest banks of the US which potentially resulted in a decline in deposits and loans at Wells Fargo as the bank announced a drop in its profit in the last three months of 2018 on Tuesday.   A year-on-year drop of 1 per cent in its...

VW & Ford Partner To Develop EVs And Self-Driving Cars And Save Costs

With the aim of saving billions of dollars, top global car makers Volkswagen AG and Ford Motor Co are entering into a partnership to develop commercial vans and pickups and would also jointly conduct projects for the development of technologies for electric and self-driving technology. The two...

Lawsuit Against Board Of Alphabet Over Alleged Sexual Misconduct Cover-Up

The board of Google parent Alphabet Inc has been slapped with two law suits by shareholders accusing the company of being directly involved in attempts of covering up of sexual misconduct claims that were pressed against two former executives in within the last five years.   There have been...

Following Apple’s Sales Warning, Price Of iPhones Slashed By Chinese Retailers

After soft sale and demand for iPhones forced US tech giant Apple to recently announce a very rare revenues and profit warning for the fourth quarter, a number of Chinese electronics retailers including Suning – backed by Alibaba, and JD.com, have decided to cut down the prices of iPhones this...

New Bid For Sears Put By Its Chairman Worth $5 Billion: Reuters

Chances of the US department store operator Sears Holdings Corp  being able to escape liquidation became rosier after a revised roughly $5 billion takeover bid for the company was presented by the Chairman of the company Eddie Lampert, according to a report in the news agency Reuters.  ...

Agreement For More Oil Production Signed Between Venezuelan And French Oil Firms

According to the announcement made by Venezuelan President Nicolas Maduro recently an agreement worth 400-million-U.S. dollar was signed between Venezuelan state-owned oil company PDVSA and French company Maurel & Prom. Under the agreement, both the companies would jointly work to ramp up...

Additional $2B To Be Invested In WeWork By Japan’s Softbank

According to media reports quoting sources, this year another $2 billion would be invested in shared working space app WeWork from Japan’s SoftBank Group. With the injection of this new investment, the total investments by the Japanese conglomerate SoftBank into the   office space...

Possible 80 Percent Drop In Q4 Profit For LG Electronics Due To Reduced TV Margins

Following on the heels of South Korean tech giant Samsung announcing massive drop in fourth quarter earnings and about a week after its first profit warning for the fourth quarter issued by US teach giant Apple Inc., another South Korean electronic gadgets giant - LG Electronics Inc said on Tuesday...

Apple’s iTunes Would Be Available On Samsung’s Smart Tvs As The Two Bury Rivalry

In a rare collaborative move, Apple has agreed to allow its iTunes services to be plated played on Samsung televisions which are sold from 2018 onwards.   This is being seen by many to be a rare exception to the long-standing policy of the iPhone maker of not allowing its software to be put...

Apple In China In 2019: Court Battle, Trade War And 5G Challenges

There are a lot challenges for Apple Inc with respect to China in the new year ranging from the roll out of 5G network, the outcome of the trade negotiations between the US and China and the impending threat of a ban on sale of some iPhone models  following a court order that has been...

Chinese Anti-Counterfeit Alliance Urges Apple To Abide By Court Order On Ban Of iPhone

Apple was called on to abide by a court order that bans sales of some iPhones China by national anti-counterfeit alliance of the country.   The court order banning the sale of some models of iPhones was made in December by in relation to a case filed by chip maker Qualcomm. Since then Apple...

2 Chinese Huawei Employees Punished By The Firm Over Iphone Tweet Goof Up

According to an internal memo issued by China's Huawei Technologies and seen by the media, two of its employees have been punished for them sending New Year greetings on the smartphone maker's official Twitter account through an iPhone.   Followers were sent a "Happy #2019" on New Year’s Day...
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