KPMG faces a 14.4 million pound ($17.6 million) penalties after admitting to misleading regulators during spot checks on audits of Carillion and Regenersis.   The British auditing regulator, the Financial Reporting Council (FRC), told a London tribunal on Thursday that it was seeking a...

Indian tax officials froze $478 million in deposits held in local bank accounts of China's Xiaomi Corp in February as part of an investigation into potential tax fraud, according to a report published by Reuters quoting two sources and a court filing document,    The financial freeze by...

A broad sell-off in technology equities has resulted in Apple losing its title of the most valuable firm of the world. For the first time in almost two years, Saudi Arabian oil and gas firm Aramco has reclaimed the top rank from Apple.   Investors have been dumping technology...

According to Dubai Airports CEO Paul Griffiths, air passenger volume in Dubai might approach pre-pandemic levels in 2024, a year earlier than previously predicted.   “We recorded 13.6 million passengers in that first quarter [at Dubai International Airport]. This is causing us to revise our...

Toyota Motor cautioned that "extraordinary" increases in raw material costs might shave a fifth off full-year earnings, a clear warning that the world's largest automaker by sales can no longer ignore the global supply-chain crisis.   The Japanese conglomerate also reported a 33% reduction...

Coinbase's CEO claimed that a statement in the company's most recent quarterly filing did not signal the cryptocurrency exchange operator was facing bankruptcy and was made to comply with a Securities and Exchange Commission (SEC) requirement.   Brian Armstrong made his remarks...

According to an internal letter of global electric car making leader Tesla seen by Reuters, the company has paused most of its production at its Shanghai plant due to challenges obtaining parts for its electric vehicles, the latest in a series of setbacks for the factory.   The automaker's...

Tyson Foods Inc boosted its full-year sales forecast on Monday, citing higher meat prices as a reason for exceeding quarterly revenue and earnings expectations.   In premarket trade, the stock gained around 2 per cent.   The White House and Congress have questioned meatpackers about...

The Biden administration of the United States cranked up a national security investigation of Russia's AO Kaspersky Lab antivirus software earlier this year amid heightened fears of Russian hackers following Moscow's invasion of Ukraine, said a report published by Reuters based on source...

Higher oil and gas prices, excellent refining profits, and the strong performance of Shell's trading division helped the company post a record first-quarter profit of $9.13 billion on Thursday.   Shell, the last of the major energy companies to announce earnings, joins industry competitors...

Uber, the ride-hailing and delivery service firm, has lost $5.9 billion, owing to its investments in other businesses.   Almost all of the loss, according to the corporation, was caused by a drop in the value of assets in businesses like as Didi in China and Grab in Southeast Asia.  ...