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Kraft Heinz To Reissue Its Previous Earnings Due To Employee Misconduct

Kraft Heinz Co., which is being investigated by the United States Securities and Exchange Commission in relation to its procurement activities, would be restating its annual financial results for the financial years 2016 and 2017, as well as for the nine months of 2018 because of misreporting of...

Uber Accused Of ‘Illegal Operations’ In Australia, Class Action Lawsuit Filed

Citing allegations of conducting their business in an illegal manner in Australia which is resulting in financial damage to the local taxi industry workers and operators, a class action lawsuit has been filed in the country against the United States based ride hailing company Uber Technologies....

Tesla Aims To Raise $2.7B In Capital, CEO Musk Also To Increase His Share

Tesla announced that it wants to raise as much as $2.7 billion from its planned sale of notes and stock to raise much-needed capital – an announcement which was made by the company just a day ago.   The reason for the increase in offering was because of the high positive response from...

Qualcomm Earnings Report Gives Glimpse Of Apple Settlement

The impact on the bottom line of US based chip maker Qualcomm because of its legal fight with iPhone maker Apple Inc over patent rights was made clear for investors. It also included the undisclosed multibillion dollar payment from the case settlement with Apple as one time payment and future...

Security Vulnerability In Huawei Equipment Was Found By Vodafone In 2011 & 2012

Telecoms group Vodafone, the second largest telecom service provider of the world, claims to have identified security issues in the telecom equipment that it had purchased from China's Huawei for its business in Italy in two consecutive years of 2011 and 2012.   This was announced by the...

GE Reports Lower Than Expected Drop In Earnings And Cash Burn

General Electric (GE) investors were partly relieved after the US firm reported a better than expected drop in its earning and spent less cash than what analysts feared it would during the first quarter of the current year.   While Wall Street estimated that there would be a 44 per cent drop...

Helpful Drivers Of Jaguar Land Rover Could Earn Cryptocurrency

United Kingdom’s largest auto maker Jaguar Land Rover (JLR) intends to allow drivers of its cars to earn the IOTA cryptocurrency as a reward for them allowing sharing of their data. the company announced this and said that it is carrying out a test for a software for this purpose.   “Smart...

Ford’s Strong Q1 Performance Sends Its Shares Past The Psychological $10 Mark

Increased demand for its F-Series pickups and results of the massive cost cuts employed by Ford Motor Co. is now getting reflected in the earnings outlook for the US automaker.     The company’s adjusted profit was way beyond the average estimate of 26 cents a share of analysts at 44...

Its Smartphone-Modem Business Is Being Attempted To Be Sold By Intel

Intel now has officially moved away from the race for 5G chipsets because it is now seeking to divest its smartphone-modem business.   According to a report published in the Wall Street Journal, this business unit of Intel was considered for purchase by Apple Inc. and had initiated talks for...

Toyota Shelves Its U.S Connected Vehicle Tech Installation By 2021

The plan of installation of Dedicated Short-Range Communications technology in vehicles the US which allows cars and trucks to communicate with each other to avoid accidents is being stopped for the time being by Toyota Motor Corp, the company has said.   There has been indecision among...

Uber Aims $91.5 Billion Value In IPO, Reports Q1 Loss In Filing

US ride hailing company Uber is targeting to gain a market valuation of up to $91.5 billion from its initial public offering which would make it one of the largest IPOs issued by a company in the US in many years now. Analysts would also be looking closely at the success of the IPO which would...

Microsoft Goes Past $1 Trillion Market Value Following Strong Q3 Earnings

The market valuation of Microsoft went past Apple Inc's $980 billion market capitalisation following a rise of 4.4 per cent in its shares to $130.54 in late trading after the company announced good forecast on a conference call with investors.   On Wednesday, Microsoft executives predicted...
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