With the aim of boosting its stake in Southeast Asian online retailer Lazada, ahead of Amazon’s much-anticipated entry into the region, Chinese e-commerce giant Alibaba is ponying up $1 billion. Effectively bringing its total investment to over $2 billion, its stake in the company will be increased from 51 percent to about 83 percent, Alibaba said on Wednesday.…
The iPhone chip supplier Qualcomm, must now wage a fight with U.S. regulators even as it contests a separate $1 billion lawsuit filed by Apple Inc which became clear after the ruling of a federal judge ruled late on Monday where the Federal Trade Commission’s antitrust lawsuit against Qualcomm Inc was allowed to be proceeded.…
State-sponsored cyber attacks against each other aimed at stealing trade secrets or other confidential business information has been vowed not to be conducted in an agreement between China and Canada with both the countries having signed the bilateral agreement. The Globe and Mail reported on Monday that the deal was described as a step toward…
A wild card into one of the biggest and most complicated recalls in automotive history is to be thrown by the expected bankruptcy of troubled air-bag maker Takata Corp. and it isn’t just a crisis for its employees and suppliers. From Tesla Inc. to Toyota Motors Corp., tens of millions of defective air-bag inflators used by 19 car and truck…
Banking passport into Ireland was acquired by Starling Bank which relies on a mobile phone app instead to cut running costs and appeal to new customers and is a new U.K. challenger bank that doesn’t have branches. Taking advantage of the EU ‘passporting’ rights that allow companies to set up in other nations more easily…
In a move that may allow Rome to solve its latest banking crisis on its own terms, preliminary approval for an Italian plan to wind down two ailing Veneto-based regional lenders with state money was given by the European Commission on Friday. Issuing an emergency decree that will effectively remove one its biggest banking headaches…
While insisting that their Persian Gulf neighbor shutter Al-Jazeera, cut back diplomatic ties to Iran and close down a Turkish military base in Qatar, Saudi Arabia and other Arab countries that have cut ties to Qatar issued a steep list of demands Thursday to end the crisis. The countries also demand that Qatar sever all…
A tepid reception from EU leaders was met, who stressed that many issues remain unresolved, to U.K. Prime Minister Theresa May’s proposal to safeguard residency rights of European Union citizens currently living in the U.K. Saying she wanted to offer them as much certainty as possible about their futures, almost all 3 million EU citizens…
UBS Asset Management said in a report that overtaking Japan’s to become the world’s second largest behind the United States’, China’s bond market will double in size from the current $9 trillion over the next five years. Local provinces and cities were prohibited from borrowing from banks in a law passed in 2015 and that is the underpinning…
As companies big and small continue to invest in it and develop their expertise, artificial intelligence has a bright future ahead even though it may still be in its nascent stage, says a senior executive at Chinese tech giant Tencent. He was very bullish about A.I. and a big proponent of offering A.I. as a service,…
