PARIS: Shares in European aircraft maker Airbus tumbled nearly nine percent Thursday after French daily Le Monde reported that it could face fines of several billion dollars under a US corruption inquiry. The newspaper said the US Department of Justice opened a probe for “improper practices” at the end of 2017 and informed Airbus it […]
NEW YORK: US pharmaceutical and cosmetics group Johnson & Johnson saw its shares plunge Friday after a media report alleged the group had deliberately concealed for decades that its baby powder sometimes contained asbestos. A lengthy investigation by the Reuters news agency, which reviewed thousands of company documents, showed the company marketed talc-based products that, […]
FRANKFURT, Germany: German authorities have fined luxury automaker Audi €800 million ($925 million) for selling cars with excessive diesel emissions. Prosecutors in Munich said Tuesday that the fine was imposed because Audi neglected its oversight duties in selling cars with engines made by it and group partner Volkswagen that did not conform to legal limits […]
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SAN FRANCISCO: Apple said on Thursday it will host an event on Sept. 12 at the Steve Jobs Theater in the company’s Cupertino, California, campus, where it is widely expected to unveil new iPhone models. Analysts believe Apple plans to release three new smartphones this year, including one with a larger display than previous models. […]
BUENOS AIRES: Argentina’s President Mauricio Macri said Wednesday that the International Monetary Fund has agreed to accelerate funding in support of his government’s austerity program, but the move did little to calm the market as the country’s currency came under renewed pressure. IMF chief Christine Lagarde said the Washington-based lender would look at speeding up […]
LONDON: Tesla shares fell nearly 4 percent on Monday as a $113 cut in JPMorgan Chase’s price target for the electric carmaker added to growing doubts among market players about a plan to take the company private. Slashing its price target for Tesla from $308 to $195, the brokerage said it did not believe Chief […]
SHANGHAI: China’s state media on Monday lashed out at the policies of US President Donald Trump in an usually direct attack, accusing him of “starring in his own carefully orchestrated street fighter-style deceitful drama.” Trump’s wish for others to play along with his drama is “wishful thinking,” the ruling Communist Party’s People’s Daily newspaper said […]
SHANGHAI: China’s Huawei on Friday said it could replace Samsung as the world’s top smartphone maker by late next year, just days after data showed it surpassed Apple for the number-two spot despite being essentially barred from the key US market. The chief of Huawei’s consumer division, Richard Yu, made the remark at the release […]
NEW YORK: Amazon’s quarterly profit soared past $2 billion for the first time, as revenue from online shopping and its cloud computing business grew. The Seattle-based company reported net income of $2.53 billion, or $5.07 per share, for the three months ending June 30. That blew past the $2.48 per share Wall Street analysts expected, […]
