International Business News

Intel reports $4.2 bn profit, data centre business declines

Intel reports $4.2 bn profit, data centre business declines

Intel achieved 1 percent growth in the PC-centric business while data-centric revenue declined 7 percent, the company said in a statement as Apple announced to acquire the majority of Intel`s

Jul 26, 2019, 11:11 AM IST
SoftBank Group's $108 billion Vision Fund 2 draws in Microsoft, Apple

SoftBank Group's $108 billion Vision Fund 2 draws in Microsoft, Apple

The Japanese conglomerate itself plans to invest $38 billion in the fund, it said in a statement. Others set to join include Apple Inc and Taiwan`s Hon Hai Precision Industry Co Ltd (Foxconn) - both

Jul 26, 2019, 11:00 AM IST
Top investors lose $1 billion as China''s Nasdaq-style board reverses on day 2

Top investors lose $1 billion as China''s Nasdaq-style board reverses on day 2

All but four companies of the 25 stocks listed on the market fell as investors took profits from opening day gains, erasing about 9% of the total market capitalisation.

Jul 23, 2019, 14:11 PM IST
Huawei's US research arm slashes more than 70% of workforce

Huawei's US research arm slashes more than 70% of workforce

Futurewei, which employed 850 people in the United States, began laying off workers on Monday,  citing employees, including one who spoke as he left the company`s Silicon Valley campus.

Jul 23, 2019, 09:58 AM IST
Stellar debut for China's Nasdaq-style board adds $44 bn in market cap

Stellar debut for China's Nasdaq-style board adds $44 bn in market cap

Sixteen of the first batch of 25 companies - ranging from chip-makers to health care firms - more than doubled their already frothy initial public offering (IPO) prices on the STAR Market, operated

Jul 22, 2019, 16:07 PM IST
Microsoft beats estimates, powered by growing cloud profits

Microsoft beats estimates, powered by growing cloud profits

Since Chief Executive Satya Nadella took over in 2014, Microsoft has been shifting away from its Windows operating system software and towards cloud services, in which customers move their computing

Jul 19, 2019, 12:29 PM IST
Jeff Bezos world's richest person in Bloomberg Billionaires Index

Jeff Bezos world's richest person in Bloomberg Billionaires Index

The list of Bloomberg Billionaire index includes 18 Indians, and is topped by Reliance Industries Limited (RIL) Chairman Mukesh Ambani at rank 13.

Jul 17, 2019, 12:55 PM IST
Christine Lagarde resigns as IMF chief, starting race for her successor

Christine Lagarde resigns as IMF chief, starting race for her successor

A former French finance minister, Lagarde was the first woman to head the IMF and was known among policymakers as a tough negotiator.

Jul 17, 2019, 11:53 AM IST
China second-quarter GDP growth slows to 27-year low

China second-quarter GDP growth slows to 27-year low

China`s trading partners and financial markets are closely watching the health of the world`s second-largest economy as the Sino-U.S. trade war gets longer and costlier, fuelling worries of a global

Jul 15, 2019, 12:12 PM IST
Huawei to lay off hundreds of workers in US

Huawei to lay off hundreds of workers in US

Huawei is planning to lay off workers at a research facility called Futurewei Technologies that employs 850 people in research labs including in Texas, California and Washington state.

Jul 15, 2019, 11:57 AM IST
Accenture appoints Julie Sweet as CEO, David Rowland as Executive Chairman

Accenture appoints Julie Sweet as CEO, David Rowland as Executive Chairman

Julie Sweet named David Rowland will assume their respective role effective September 1, Accenture said.

Jul 12, 2019, 12:43 PM IST
US budget deficit widens to $747 bn in 9 months

US budget deficit widens to $747 bn in 9 months

The top three outlays for the nine months, from October to June, were $780 billion on social security, $512 billion on national defence, and $485 billion on medicare, according to data from the

Jul 12, 2019, 10:50 AM IST
Pakistani money in Swiss banks down by one-third to hit record low

Pakistani money in Swiss banks down by one-third to hit record low

The Pakistani money in Swiss banks had fallen by over 20 percent in 2017 (to CHF 1,115 million) and by 6 percent in 2016. Before that in 2015, these funds had risen 16 percent.

Jun 28, 2019, 10:44 AM IST
Pakistan rupee reaches record low, sliding more than 3% slide in a day

Pakistan rupee reaches record low, sliding more than 3% slide in a day

The rupee closed at 161.94 against the dollar in the interbank market, continuing a slide since Pakistan signed an agreement with the International Monetary Fund last month for a $6 billion loan.

Jun 27, 2019, 12:50 PM IST
Letting Google launch Android was his 'greatest mistake', admits Bill Gates

Letting Google launch Android was his 'greatest mistake', admits Bill Gates

Google had purchased the Android for $50 million in 2005 which today is one of the most popular mobile OS in the world.

Jun 24, 2019, 15:19 PM IST
Walmart to pay over $282 mn for violating US anti-corruption regulations in four countries

Walmart to pay over $282 mn for violating US anti-corruption regulations in four countries

According to the US Security and Exchange Commission (SEC), these violations were conducted by Walmart's third-party intermediaries who made payments to foreign government officials without

Jun 21, 2019, 12:31 PM IST
China's benchmark overnight repo rate falls to lowest in four years

China's benchmark overnight repo rate falls to lowest in four years

Traders attributed the decline in the interbank repo rate to ample cash conditions in the banking system following persistent central bank fund injections via open market operations in recent days to

Jun 21, 2019, 10:07 AM IST
US Fed holds rates steady, signals cuts possible later this year

US Fed holds rates steady, signals cuts possible later this year

While new economic projections showed policymakers` views of growth and unemployment largely unchanged, they saw headline inflation at just 1.5 percent for the year, down from the 1.8 percent

Jun 20, 2019, 11:28 AM IST
Facebook plans to launch cryptocurrency called Libra

Facebook plans to launch cryptocurrency called Libra

Facebook has linked with 28 partners in a Geneva-based entity called the Libra Association, which will govern its new digital coin set to launch in the first half of 2020, according to marketing

Jun 18, 2019, 16:04 PM IST
China's May industrial output growth cools to 17-year low as trade war bites

China's May industrial output growth cools to 17-year low as trade war bites

Industrial output grew 5.0 percent in May from a year earlier, data from the National Bureau of Statistics showed on Friday, missing analysts` expectations of 5.5% and well below April`s 5.4%. It was

Jun 14, 2019, 16:13 PM IST