International Business News

Federal Reserve raises rates amid stronger inflation, drops crisis-era guidance

Federal Reserve raises rates amid stronger inflation, drops crisis-era guidance

The Fed has raised rates seven times since late 2015 on the back of the economy`s continuing expansion and solid job growth, rendering the language of its previous policy statements outdated.

Jun 14, 2018, 10:51 AM IST
Uber hires Facebook's product director as its driver product head

Uber hires Facebook's product director as its driver product head

Uber has been without a head of driver product since Aaron Schildkrout left in December, after a three-year stint with the company.

Jun 14, 2018, 10:29 AM IST
Tesla cutting 9% of jobs across the company, says Elon Musk

Tesla cutting 9% of jobs across the company, says Elon Musk

Tweeting pictures of an email he said had been leaked to media, Musk said that the cuts were part of a simplification of Tesla`s management structure promised last month.

Jun 13, 2018, 12:32 PM IST
HSBC to invest $15-17 billion by 2020 as strategy pivots to growth

HSBC to invest $15-17 billion by 2020 as strategy pivots to growth

The update marks a definitive pivot in HSBC`s post-2008 crisis strategy, from cost-cutting and restructuring to investment and expansion as it seeks to improve returns.

Jun 11, 2018, 14:47 PM IST
Xiaomi logs $1 billion first-quarter loss but record overseas revenue ahead of IPO

Xiaomi logs $1 billion first-quarter loss but record overseas revenue ahead of IPO

Expectations of a highly sought after IPO have grown after Xiaomi, founded only eight years ago, blew past its 100 billion yuan ($15.6 billion) sales target for 2017 with a couple of months to spare.

Jun 11, 2018, 14:43 PM IST
Google faces $11bn fine in second EU anti-trust case

Google faces $11bn fine in second EU anti-trust case

In 2017, EU antitrust investigators fined Google $2.7 billion for violations pertaining to its treatment of comparison shopping services.

Jun 07, 2018, 12:50 PM IST
Goldman Sachs vice president charged with insider trading

Goldman Sachs vice president charged with insider trading

The US Securities and Exchange Commission on Thursday charged a vice president at Goldman Sachs Group Inc with insider trading.

May 31, 2018, 21:59 PM IST
US to slap tariffs on steel, aluminum from EU on Thursday

US to slap tariffs on steel, aluminum from EU on Thursday

The two sources briefed on the matter said the decision would land before a Friday expiration deadline for exemptions to the planned tariffs.

May 31, 2018, 13:04 PM IST
Uber, Waymo in talks about self-driving partnership - Uber CEO

Uber, Waymo in talks about self-driving partnership - Uber CEO

Waymo plans to roll out an app-based service this year offering rides to passengers in a fully self-driving Waymo car with no driver.

May 31, 2018, 11:57 AM IST
Singapore Airlines to launch world's longest commercial flight in October

Singapore Airlines to launch world's longest commercial flight in October

Singapore Airlines is Airbus` first and to date only customer for the A350-900ULR, an ultra-long range version of the fuel-efficient twin-engine A350 jet.

May 30, 2018, 11:46 AM IST
Global shares fall on Italian turmoil, euro near 6-1/2 month lows

Global shares fall on Italian turmoil, euro near 6-1/2 month lows

FTSE futures slipped 0.5 percent while Eurostoxx 50 futures eased 0.1 percent.

May 29, 2018, 11:56 AM IST
Oil prices slump as OPEC and Russia consider output boost

Oil prices slump as OPEC and Russia consider output boost

Brent crude futures fell $2.35, or 3 percent, to settle at $76.44 a barrel. 

May 26, 2018, 09:02 AM IST
Facebook, Twitter introduce new guidelines for political ads

Facebook, Twitter introduce new guidelines for political ads

Facebook has begun labelling all political and issue ads, including a "Paid for by" disclosure from the advertiser at the top of the advertisement.

May 25, 2018, 17:58 PM IST
Samsung must pay Apple $539 million in patent lawsuit: US court

Samsung must pay Apple $539 million in patent lawsuit: US court

Under the US patent law, infringement of a design patent can result in a plaintiff receiving total profits made through the product.

May 25, 2018, 10:38 AM IST
Facebook refuses to compensate users over misuse of personal data by Cambridge Analytica

Facebook refuses to compensate users over misuse of personal data by Cambridge Analytica

Cambridge Analytica used the data of millions of Facebook users to target ads during political campaigns, including the US presidential vote. 

May 25, 2018, 07:04 AM IST
Lenovo posts biggest loss since 2009, high costs overshadow revenue growth

Lenovo posts biggest loss since 2009, high costs overshadow revenue growth

The company, which lost the world`s largest PC maker crown to HP Inc in 2017, has seen its core PC business suffer from a shrinking market globally, while its smartphone business struggles to stay

May 24, 2018, 13:27 PM IST
Foxconn unit aims to raise $4.3 billion in biggest China IPO since 2015

Foxconn unit aims to raise $4.3 billion in biggest China IPO since 2015

With 10 percent of its enlarged capital offered in the IPO, Foxconn Industrial Internet would have a valuation of 271.3 billion yuan ($42.62 billion) at listing.

May 23, 2018, 10:26 AM IST
Adobe to buy Magento Commerce for $1.68 billion

Adobe to buy Magento Commerce for $1.68 billion

Shares of Adobe rose about 1 percent in extended trading after the Photoshop maker also said it would buy back up to $8 billion of shares through its fiscal year 2021.

May 22, 2018, 14:01 PM IST
As bitcoin world wobbles, mining rig company plans $2 billion IPO

As bitcoin world wobbles, mining rig company plans $2 billion IPO

Canaan is expected to present itself to investors not so much as a bitcoin company, but as a chip designer focused on developing other markets in artificial intelligence and blockchain, the

May 22, 2018, 12:22 PM IST
Sony buys EMI Music Publishing in $1.9 bn deal

Sony buys EMI Music Publishing in $1.9 bn deal

Sony signed a deal with Abu Dhabi-based investment firm Mubadala to buy its 60 percent holding in EMI, giving the Japanese firm an indirect stake of approximately 90 percent, Sony said in a statement

May 22, 2018, 12:20 PM IST

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