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Air Cargo is the New Place that Amazon has Started Flexing Muscles

Amazon.com Inc has leased 40 jets to meet the delivery demands from the retail giant's customers.   However valued business from FedEx Corp and United Parcel Service Inc. are being taken away from them by the company as the Prime Air planes are flying nearly full with lightweight loads, as...

As Barclays is Sued, U.S. Probes are Settled by Deutsche Bank and Credit Suisse

In order to resolve U.S. investigations into sales of the toxic debt that fueled the financial crisis, Deutsche Bank AG and Credit Suisse Group AG agreed to pay a combined $12.5 billion. With this the two banks have put behind them a major dispute – one that had weighed on their shares and raised...

GM LaysOff Shift In Detroit, Ford Shutting Kansas City Plant for a Week

To match production and demand, Ford Motor Co will close its Kansas City, Missouri pickup truck and van plant for a week in early January, the automaker said.   F-150 pickup trucks and Ford Transit vans are made at the plant. A couple of months ago, Ford also closed the Kansas City plant for...

More Polluting U.S. Diesel Vehicles Agreed to be Fixed and Bought Back by VW

As Volkswagen AG took new steps to put its emissions cheating scandal behind it, the German automaker has agreed to a $1 billion settlement to fix or buy back another 80,000 polluting diesel vehicles sold in the United States.   Volkswagen has now agreed to spend as much as $17.5 billion in...

Brussels says no Cause for Low Tax Bill as Apple Appeals Against EU Tax Ruling

As the European Union issued details of its ruling that Apple Inc. maker won sweetheart tax deals from the Irish government which amounted to illegal subsidies, the iPhone maker appealed on Monday against a $14-billion tax demand.   Underlining its anger with the European Commission, which...

China Aims Blow at Iron Rice Bowl, Heralding Social and Financial Change

The decades-old system of providing cradle-to-grave welfare support, known as the country's "iron rice bowl", system started by the Chinese government has been ordered to be smashed specifically with respect to the state firms.   But the decades-old system of providing cradle-to-grave...

In Newly Discovered Security Breach, Yahoo says One Billion Accounts Exposed

Claiming that data from more than 1 billion user accounts was compromised in August 2013, making it the largest breach in history, Yahoo Inc warned on Wednesday that it had uncovered yet another massive cyber attack.   The company had noted nearly half of the number of accounts hacked this...

GM, Ford Shares Suffer as China Talks about Penalizing U.S. Automakers Over Price-Fixing

After a Chinese official warned the government could slap a penalty on an unnamed U.S. automaker for monopolistic behavior, shares of U.S. automakers General Motors Co and Ford Motor Co skidded on Wednesday.   It was only a few days ago that U.S. President-elect Donald Trump questioned the...

Scale Issue is Left Lingering by Abandoned CBS, Viacom Merger

Sumner Redstone's holding company National Amusements Inc is under pressure to buy or partner with peers in an industry where scale matters after its decision to abandon a merger of its prized media assets, CBS Corp and Viacom Inc.   Scale was crucial for both companies, because it would...

In 'Massive' Cyber Attack, Thyssenkrupp Secrets Stolen

In cyber attacks earlier this year, hackers stole technical trade secrets from the steel production and manufacturing plant design divisions of ThyssenKrupp AG, the German company said.   Engaged in what it said were "organized, highly professional hacker activities", it had been targeted by...

$1.3 Billion to be Invested in Mexico by Retailer Wal-Mart de Mexico

In what is perceived as a show of commitment to Mexico at a time of uncertainty after the election of Donald Trump, retailer Wal-Mart de Mexico has announced that it will invest $1.3 billion in logistics in Latin America's No. 2 economy.   Wal-Mart spokeswoman Jo Warner assured the media...

From Smart Toothbrushes to o Cancer, Philips Bets Big on Software

A transformation at the former Dutch conglomerate, Philips, that its chief executive says will gather pace was reflected in the fact that these days the average researcher at Philips is more likely to be a software developer than an product engineer.   Noting that around 60 percent of the...
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