Business


Huawei deputy chairman defends its security policy Huawei deputy chairman defends its security policy
- March 31, 2019

Huawei Technologies released its financial reports from 2018 which show an increase of 19.5% over 2017. Meanwhile, Huawei's smartphone and consumer business continued to outpace growth in the rest of the business and now accounts for 48 per cent of total sales, according to the company. (more...)
Wuabit crypto wallet to be available to WhatsApp Users soon Wuabit crypto wallet to be available to WhatsApp Users soon
- March 31, 2019

WhatsApp is one of the commonly used digital messaging apps around the globe and Wuabit could just have hit a gold mine by enabling WhatsApp users to transact and also trade through a built-in Wuabit wallet feature. A spokesperson of the company revealed that the public Beta testing would happen next month (April 2019). "We are near completing the wallet core service starting with BTC", a spokesperson of the company told the daily. (more...)
Wells Fargo CEO Tim Sloan to step down immediately Wells Fargo CEO Tim Sloan to step down immediately
- March 31, 2019

Sloan will be temporarily replaced by C. Allen Parker, who has served as Wells Fargo's general counsel. He even frequently traveled to Capitol Hill to face lawmakers and their tough questions and also update them on the bank's progress. Wells Fargo is still weathering a sustained backlash from its admission two years ago that it opened millions of sham accounts customers did not want and more recent revelations that it mistakenly foreclosed on hundreds of customers and improperly repossessed ... (more...)
Ford government will fight for Windsor auto jobs after Fiat announces cuts Ford government will fight for Windsor auto jobs after Fiat announces cuts
- March 31, 2019

FCA announced Friday that it's moving up the scheduled shutdown at its Windsor Assembly Plant to the weeks of April 1 and 8. "We're here to support workers, we want to fight for every single job", he said by phone ahead of a meeting with FCA president Reid Bigland. (more...)
US, China resume trade talks in Beijing after 'productive working dinner' US, China resume trade talks in Beijing after 'productive working dinner'
- March 31, 2019

At their summit in Argentina in December, Xi and U.S. President Donald Trump agreed to a truce in which both promised to refrain from imposing further tariffs for 90 days while trying to complete trade negotiations. A U.S. administration official told Reuters earlier this week that Lighthizer and Mnuchin were "literally sitting there going through the texts", a task typically delegated to lower-level deputies. (more...)
AstraZeneca inks $6.9-bn breast, gastric cancer therapy deal with Daiichi AstraZeneca inks $6.9-bn breast, gastric cancer therapy deal with Daiichi
- March 31, 2019

To fund the transaction, AstraZeneca will place new ordinary shares in the company with both existing and new institutional investors. It is now in development for the treatment of multiple HER2-expressing cancers, including breast and gastric cancer, and in patients with HER2-low expression but other expressions of the disease are on the allies' radar. (more...)
Texas investigating San Antonio's Chick-fil-A airport ban Texas investigating San Antonio's Chick-fil-A airport ban
- March 31, 2019

In the wake of San Antonio's decision to exclude Chick-fil-A from a concession agreement for the city's airport, the Texas Attorney General's Office sent a letter to the mayor and city council members informing them that a discrimination investigation has been opened. (more...)
Monsanto ordered to pay $80 mn in Roundup cancer trial Monsanto ordered to pay $80 mn in Roundup cancer trial
- March 31, 2019

Monsanto will pay the Sonoma County resident $ 75 million in punitive damages and an additional $5.2 million in compensatory damages. In February 2015, Hardeman was diagnosed with B-cell non-Hodgkin's lymphoma (NHL) after repeated exposure to the glyphosate in Roundup. (more...)
Pivotal vote on 29 March: the Brexit day that wasn't Pivotal vote on 29 March: the Brexit day that wasn't
- March 31, 2019

Getting another vote on a deal would be tricky, as parliament speaker John Bercow has already warned he will not let her bring the same deal back again and again. Irish prime minister Leo Varadkar will travel to Paris on Tuesday to meet with president Emmanuel Macron, and German chancellor Angela Merkel will travel o Dublin on Thursday for talks. (more...)
U.S., China report progress in Beijing trade talks U.S., China report progress in Beijing trade talks
- March 31, 2019

After the latest round of face-to-face talks, Chinese negotiators frustrated USA officials by sending back text on IP with entire sections crossed out that had already been agreed to by Mr Lighthizer and Mr Liu, people familiar with the situation said. (more...)
Boston Dynamics shows off its nimble warehouse robot
- March 30, 2019

Now the company has perfected its Handle robot so it can stack heavy boxes as if they were blocks in an extreme version of Tetris . Handle was designed by Boston Dynamics as a " mobile manipulation robot designed for logistics ". The on-board vision system tracks the marked pallets for navigation and finds individual boxes for grasping and placing. The boxes shown in the video weigh around 12 pounds, but the company says that Handle is created to be able to manage boxes weighing up to ... (more...)
Eurostar trains cancelled due to trespasser wearing England flag
- March 30, 2019

British police arrested a man for blocking the railway line on Saturday after Eurostar , which runs trains between London, Paris and Brussels, had to suspend all trains in and out of Britain for several hours. The Eurostar press service warns that even after the restoration of traffic, long delays in the movement of trains are nearly inevitable, and recommends exchanging or returning tickets purchased in advance. (more...)
Goldman Sachs fined £34m over reporting failures Goldman Sachs fined £34m over reporting failures
- March 30, 2019

In addition, the United Kingdom watchdog found that Goldman Sachs didn't take enough care to organise and control its affairs when concerning transaction reporting. The FCA stresses in this latest case that it feels it has given the industry considerable support with getting transaction reporting right, and has explained its importance to market and firm surveillance. (more...)
Sony's Kaz Hirai confirms he's retiring this summer Sony's Kaz Hirai confirms he's retiring this summer
- March 30, 2019

He had handed over previous year as CEO to Kenichiro Yoshida, whom he praised for his "strong leadership" that was to lead to an "even brighter future for Sony ". Kenichiro Yoshida, Sony's former CFO, took over the company after Hirai had brought it back from the brink. I feel great pride in having supported Sony's corporate governance efforts, as Sony distinguishes itself by being at the forefront among Japanese corporations by ensuring a sophisticated Board composition, with the vast ... (more...)
Swedish bank's offices raided in money laundering probe Swedish bank's offices raided in money laundering probe
- March 30, 2019

Swedbank's headquarters were the target of a police raid on Wednesday, as part of a separate probe to find out whether it breached insider rules by giving its biggest investors advance notice of a February 20 laundering report. Both the Estonian and Swedish financial supervision authorities are now investigating the involvement of Swedbank in the case. While the bank didn't want to comment on the sum quoted by SVT, it did tell the broadcaster that the internal report is an example of ... (more...)
Lyft in the fast lane after shares debut on Nasdaq Lyft in the fast lane after shares debut on Nasdaq
- March 30, 2019

It marks the first time that most people who have used their smartphone to summon a vehicle dispatched by Lyft or its bigger rival, Uber, will have a chance to make a bet on whether the ride-hailing phenomenon will continue to transform transportation and eventually become a major money maker. (more...)
Q4 GDP Growth Estimate Cut To 2.2% Q4 GDP Growth Estimate Cut To 2.2%
- March 30, 2019

Excluding the volatile trade and inventories components of GDP, final sales to domestic purchasers increased at a downwardly revised 2.1% pace, after 2.9% in the third quarter. While the expansion has moderated, the labour market has remained in generally solid shape despite some recent gyrations. By this measure, the economy grew 2.9 percent in 2018. (more...)
Google Pulls Ex-Gay Torture App After HRC Pressure Google Pulls Ex-Gay Torture App After HRC Pressure
- March 30, 2019

The tech giant has been criticised in recent weeks for not taking action on the app, which is made by US Christian group, Living Hope Ministries , and bears the same name. The app has been removed from Apple's , Microsoft's , and Amazon's app stores, says Axios . So-called conversion therapy is a debunked practice that's tantamount to child abuse and is proven to have unsafe consequences for its victims. (more...)
The next-gen Smart will be built and engineered by China's Geely The next-gen Smart will be built and engineered by China's Geely
- March 30, 2019

A Smart Fortwo Cabrio Electic Drive vehicle is plugged at a recharging station during the 87th International Motor Show at Palexpo in Geneva, Switzerland, March 8, 2017. Li Shufu, Geely Holding chairman, added his company "fully respected" the value of Smart. As part of the new product plan - precise details of which have not been disclosed - Smart will expand into the B-segment. (more...)
Nissan urged by governance panel to end Ghosn's era of one-man rule Nissan urged by governance panel to end Ghosn's era of one-man rule
- March 30, 2019

In measures announced in Yokohama , where Nissan Motor Co.is headquartered, the governance committee said it concluded that the "root cause of the misconduct was the concentration of all authority in Mr. Nishioka also told the briefing that the capital structure between Nissan and Renault was a matter for the companies, and it was not appropriate for the committee to get involved. (more...)
Kia Mohave Masterpiece Concept debuts in Seoul Kia Mohave Masterpiece Concept debuts in Seoul
- March 30, 2019

Kia Motors has taken to the Seoul motor show with two new concept cars, the Mohave Masterpiece and SP Signature . The first is the chunky Mohave Masterpiece and the second is the more compact SP Signature . Spotted undergoing testing as a camouflaged prototype in late January, the all-new Mohave is now attending the Seoul Motor Show in concept form. The production model will be revealed later this year. (more...)
Sports Direct proposes possible offer for Debenhams Sports Direct proposes possible offer for Debenhams
- March 30, 2019

Debenhams shares jumped 54% higher to 3.39p after the indicative bid move but still remain well below the cash offer Ashley has indicated. It added: " Sports Direct would seek to run the Debenhams business for the benefit of all Debenhams stakeholders rather than for the benefit of Debenhams existing lenders". (more...)
Walgreens Also Plans To Begin Selling CBD Products At IN, KY Stores Walgreens Also Plans To Begin Selling CBD Products At IN, KY Stores
- March 29, 2019

Is CBD oil, derived from certain varieties of cannabis plants, legal to possess and ingest in Texas? Walgreens will sell the CBD products in Oregon, Colorado, New Mexico, Kentucky, Tennessee, Vermont, South Carolina, Illinois and in, according to CNBC . (more...)
Ashley mulls last-ditch Debenhams bid Ashley mulls last-ditch Debenhams bid
- March 29, 2019

The move comes as Debenhams , which is struggling under nearly £500 million of debt, moves closer to a pre-pack administration or debt-for-equity swap, which could save the business but wipe out shareholders, including Sports Direct . Ailing British department store group Debenhams said on Tuesday it would give "due consideration" to any offer for the company from major shareholder Sports Direct but warned an offer would not address its immediate funding needs. (more...)
Erdogan Faces Tough Challenge in Turkey's Local Elections Erdogan Faces Tough Challenge in Turkey's Local Elections
- March 29, 2019

Washington has opposed Turkey's plans to buy Russia's S-400 air defense system, on allegations that it would "compromise" the Lockheed Martin-made F-35's security. The dispute is one part of a growing rift between Washington and Ankara who are at odds over Syria and also a USA refusal to extradite a US-based preacher Turkey blames for a 2016 failed coup. (more...)

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