Despite pressure om the share price and questions being raised by its long-term business model, expectation beating second-quarter earnings was reported by Chinese electronics giant Xiaomi. Following its initial public offering in July, this is the first occasion that the company has issued its results publicly. The newly public company reported revenues of 45.24 billion yuan…
The lingering impact of its Brazilian dam collapse Donald Trump’s corporate tax cuts and a huge write-down against the US onshore oil and gas assets of the company impacted the profits for BHP which fell by 37 per cent, announced the company on Tuesday. An “exceptional loss” of $US5.2 billion ($7.1 billion), after tax, ate…
Websites in Europe may have to delete extremist content on their sites within an hour or face a fine according to a plan by the European Commission. Twitter, Facebook and YouTube among others are one who would be impacted by such a regulation. Such a regulation would be a shift by the EU away from…
A Wall Street Journal report claimed that an offer by Turkey to the United States of releasing detained American pastor Andrew Brunson if the US investigations against Turkish bank Halkbank is halted was turned down by the Trump administration. The proposal, according to the report, was dropping off of terrorism charges against the American pastor…
American could end up paying more for virtually everything they use in their daily lives – from cradles to coffins, if US president Donald Trump goes on to impose the threatened tariffs on $200 billion of Chinese imports, claimed a broad cross-section of U.S. businesses. While the earlier list for tariffs were drawn up carefully…
Growth is being given predominance over profit by Uber Technologies Inc. Chief Executive Officer Dara Khosrowshahi just like his predecessor. But because the ride-hailing service has reached a global scale, therefore it is finding it difficult to make growth gains. A second-quarter loss of $891 million was recently reported by Uber. While the loss is…
US retailing giant Walmart reported a 40 per cent increase in its online sales in the last quarter which drove its overall revenues to $128bn for the period. There was jump of 10 per cent in share of the company at the New York stock market. “We’re leveraging stores and e-commerce to make shopping faster…
Goldman Sachs says that Intel is facing a big problem with the issues in technology for manufacturing chips. The repeated delays in graduating itself to the manufacture of next generation chip process technologies resulted in the lowering of the rating for Intel by Goldman to sell from neutral. “We see Intel’s struggles with 10nm process…
In the first ever claims ruling about the Roundup weedkiller of the chemical giant Monsanto causes cancer, the US firm has bene ordered to $289 million in damages to a terminally ill school groundskeeper. The ruling came in favor of Lee Johnson by a San Francisco state court where the jurors discussed the case for…
Despite incurring an impairment charge on its Reebok brand, better than expected second quarter results was reported by German sportswear company Adidas. The company said that it is confident of achieving its full year targets while reporting strong net profit on Thursday. There was a 20 per cent increase in the net profit for the…
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