The fourth quarter of 2018 so far has been very bad for American International Group Inc (AIG) which is an amount of between $750 million and $800 million for losses because of natural catastrophe, said the chief executive officer of the company. AIG CEO Brian Duperreault said at the Goldman Sachs U.S. Financial Services Conference…
The strategic move will see the Chinese giant increase its footprint in the lucrative EU market. On Wednesday, Alibaba Group Holding Ltd stated it has signed an agreement with the Belgium government to launch an e-commerce trade hub. The move will include investments in logistics infrastructure. The strategic move is part of Alibaba’s Electronic World…
Verizon and Samsung Electronics Co Ltd are slated to launch 5G models in the first half of 2019. U.S. chipmaker Qualcomm Inc has unveiled a next generation mobile phone processor that will power 5G smartphones in the United States in 2019. The key feature of Qualcomm’s Snapdragon 855 chip, which was launched at an event…
The ad operations of Google and Facebook in the EU will be significantly affected if the proposal is agreed upon by all 28 member states of the European Union. As per a European source, France and Germany have sought to salvage a EU tax proposed that aims to levy digital tax on large tech firms…
The synergies of the deal will enable TIBCO to add business intelligence features to its software platform that serves large banks. According to sources familiar with the matter at hand, TIBCO Software Inc, is in the process of acquiring Orchestra Networks, a French data management firm. The acquisition will boost its ability to help clients…
The move follows similar measures undertaken by the U.S., Australia, and New Zealand. On Wednesday, Britain’s BT Group Plc stated it will remove Huawei Technologies Co’s equipment from its core 4G network within two years. The development brings BT’s mobile phone business in line with an internal policy to keep the equipment of Huawei Technologies…
These sensors are used by Apple’s iPhone X, which was launched in 2017. In a development that underscores the growing debate in Japan as to whether foreign workers should be allowed in the country midst a labour shortage,Japan’s Sharp Corp has laid off around 3,000 foreign workers, said a labor union, as the electronic giant…
Audi is taking a very systematic approach to the future of mobility. On Tuesday, Volkswagen’s Audi stated, it would sink in $15.9 billion (14 billion euros) through 2023 in autonomous driving, electric mobility and digitalization. For the next five years, Audi has projected its total expenditure to be around 40 billion euros, said the carmaker…
With Dublin as its new European headquarters, Bank of America will operate through its branches in Amsterdam, Brussels, Frankfurt, London, Madrid, Milan, Paris and Zurich. On Monday, Bank of America stated, having received the necessary court and regulatory approvals, it has completed the shifting of its market and banking operation from London to Dublin. The…
Activist hedge fund Third Point, led by investor Daniel Loeb, has been pressurizing Nestle to sell its stake in L’Oreal. On Monday, in a report published by the Financial Times which triggered fresh rounds of speculation, Paul Bulcke, Nestle’s Chairman, stated the company’s stake in French cosmetics firm L’Oreal was “something active on the board’s…
