Customers of Amazon.com filed a lawsuit against the online retailer in a Seattle, Washington, U.S. court, claiming they were charged for items they had promptly returned. In the proposed class action complaint filed on Tuesday, four residents of Illinois, Minnesota, and Missouri claimed that Amazon “wrongfully re-charged the purchase price and applicable taxes” for their…
The development of an advanced microprocessor by Huawei Technologies shows how determined and capable China is to counter U.S. sanctions, but observers said that the efforts are expected to be very expensive and may lead Washington to tighten restrictions. During U.S. Commerce Secretary Gina Raimondo’s unannounced visit to China last week, Huawei launched the most…
According to the IPO paperwork Arm filed on Tuesday, Apple and Arm have a new agreement for semiconductor technology that “extends beyond 2040.” The price range for Arm’s anticipated $52 billion initial public offering, which would be the biggest IPO in the United States this year, was revealed on Tuesday. SoftBank Group (9984.T), the firm…
After acquiring its struggling rival Credit Suisse, UBS announced on Thursday that it will eliminate 3,000 positions in Switzerland alone as part of a more than $10 billion cost-cutting programme. The newly formed bank giant’s intention to eliminate one in every twelve Swiss positions provides a sense of the magnitude of the restructuring as UBS…
Microsoft announced on Thursday that it would separate its Teams chat and video app from its Office product and make it simpler for rival products to integrate with its software. However, opponents claimed that Microsoft may need to take more steps to avoid a potential EU antitrust charge. The proposed modifications came a month after…
On Tuesday, HP Inc. lowered its forecast for the year’s earnings as it struggles with a personal computer industry downturn that has lasted over a year and weak demand in China, a crucial market. In trading after the market closed, the company’s shares in Palo Alto, California, decreased 5.2%. The demand for consumer devices, including…
By providing free cricket on cellphones, Walt Disney is seeking to turn around the fortunes of its streaming business in India. The company is banking that this move would increase advertising revenue and lessen the effects of a customer exodus. For the year ending in March 2022, the India streaming business, which by number of…
Nearly a year and a half after first promising to do so, Heineken has finally sold off its Russian company for €1 (or 86p). The division is being sold to a Russian company called Arnest, which makes aerosol cans, and the Dutch brewer stated it will result in a loss of €300 million. Following Russia’s…
In response to China’s restriction on Japanese seafood imports following the leak of treated radioactive water from the destroyed Fukushima nuclear power station into the sea, Russia intends to enhance its exports of marine products to China. According to Rosselkhoznadzor, a Russian agency that monitors food safety, 894 Russian enterprises are authorised to export seafood,…
Even as the Indian government looks to attract more investment into the expanding space business, Larsen & Toubro and Hindustan Aeronautics are among the companies being evaluated to possibly bid in India’s efforts to privatise its small satellite launch rocket, according to a report by Reuters quoting sources with knowledge of the matter. The Indian…
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