Home » Business

Apple Issues Bond Worth $7 Billion To Fund Dividends And Buybacks

Apple Issues Bond Worth $7 Billion To Fund Dividends And Buybacks

Apple sold bonds worth $7 billion with a view to funding dividends and stock buybacks. The notes were sold in six parts making the iPhone maker the second-most active issuer of debt in the United States from the non-financial sector... 
Alibaba Planning To Issue A US Dollar Bond

Alibaba Planning To Issue A US Dollar Bond

Reports indicate that Chinese online retail giant Alibaba intends to float a dollar bond later this month. According to sources this will be announced next week while the price will be made public prior to the Thanksgiving holiday... 
Qualcomm Inks $12 Billion Deals With Xiaomi, Oppo And Vivo

Qualcomm Inks $12 Billion Deals With Xiaomi, Oppo And Vivo

Non-binding deals valued at approximately $12 billion were signed between Qualcomm and three of the biggest smartphone vendors in China as the chipmaker moved to strengthen its ties with Chinese partners. This comes at a time when... 
Ford Forms Joint Venture With Chinese Firm Anhui Zotye Automobile

Ford Forms Joint Venture With Chinese Firm Anhui Zotye Automobile

Ford has announced that it will making a major investment in the electric-car manufacturing sector in China, currently the biggest market in the market for vehicles powered by batteries. The second-biggest automaker in the United States... 
Google Shutting Down Flight Data API Service QPX Express Next Year

Google Shutting Down Flight Data API Service QPX Express Next Year

Google has announced that its travel search data feed will be shut down in April next year. The airfare search feed, QPX Express API, was unveiled after the online search giant acquired ITA seven years ago at a price of $700 million.... 
Visa To Unveil Visa Direct In Europe

Visa To Unveil Visa Direct In Europe

Visa’s real-time payments platform Visa Direct is set to be launched in Europe allowing companies on the continent to leverage the global scale and reach of the financial institution in transforming cross-border and domestic payments.... 
Counterfeits Proliferate On Marketplaces As Online Shopping Takes Root

Counterfeits Proliferate On Marketplaces As Online Shopping Takes Root

An Organization for Economic Cooperation and Development (OECD) report indicates that the trade in pirated and counterfeit goods has almost doubled between the years 2008 and 2013. In that period the trade in these goods has ballooned... 
New Way Of Coating iPhones In Gold Patented By Apple

New Way Of Coating iPhones In Gold Patented By Apple

A patent granted to Apple has been published and it details a way for making enclosures used in electronic devices from hardened gold. This is because 18-karat gold naturally possesses low hardness but the iPhone maker has come up... 
Azure Is Growing At A Faster Rate Than Amazon Web Services

Azure Is Growing At A Faster Rate Than Amazon Web Services

Even though Amazon Web Services is still the leader in the market for cloud infrastructure, Microsoft Azure is experiencing a growth rate that is twice that of AWS. Partly this is because those who have used the servers and the desktop... 
Forex Banks At Wells Fargo Fired After Internal Probe

Forex Banks At Wells Fargo Fired After Internal Probe

Four foreign-exchange bankers at Wells Fargo have been fired after an investigation that was conducted by regulators as well as the bank itself. This is an indication that the bank’s problems were not confined to its retail-banking... 
Alphabet’s Project Loon To Offer Limited Internet To Puerto Rico

Alphabet’s Project Loon To Offer Limited Internet To Puerto Rico

Alphabet has partnered with AT&T to deploy experimental communications balloons which will provide internet to residents of U.S. territory Puerto Rico who are suffering from the after-effects of Hurricane Maria which destroyed... 
Alibaba Cloud To Beat Microsoft Azure In 2 To 3 Years

Alibaba Cloud To Beat Microsoft Azure In 2 To 3 Years

Chinese online retailing giant Alibaba has said that its cloud division will unseat the Azure platform of Microsoft to become the second-biggest provider of cloud computing services and infrastructure in the world. According to the... 
Royal Dutch Shell To Sell Stake In Comgas As Divestment Strategy Goes Full Steam

Royal Dutch Shell To Sell Stake In Comgas As Divestment Strategy Goes Full Steam

Royal Dutch Shell has entered an agreement with Cosan Limited, an energy conglomerate in Brazil, to sell its stake in Comgas. Cosan already has a 63.1% stake in Comgas. The deal will see Royal Dutch Shell dispose of its 16.8% interests... 
BMW Seeking A Joint Venture With Great Wall

BMW Seeking A Joint Venture With Great Wall

Reports indicate that German carmaker BMW and Chinese auto firm Great Wall Motor are considering forming a joint venture which will focus on building electric vehicles. This would be the second time BMW is partnering with a Chinese... 
Costco Launches Delivery Services As Competition Heats Up

Costco Launches Delivery Services As Competition Heats Up

Costco Wholesale Corporation has announced a same-day delivery service as competition among retailers heighten. The same-day delivery service will be offered through a partnership with Instacart, a grocery delivery firm, for orders... 
Coca Cola Buys Anheuser-Busch InBev’s Stake In Coca Cola Beverages Africa

Coca Cola Buys Anheuser-Busch InBev’s Stake In Coca Cola Beverages Africa

Anheuser-Busch InBev has sold its equity stake in Coca Cola Beverages Africa to Coca Cola at a price of $3.15 billion. The deal to sell the 54.5% stake was agreed upon last year in December and will see the operations of Coca Cola... 
Minimum Participation Condition For Novo Banco’s Sale To Lone Star Waived

Minimum Participation Condition For Novo Banco’s Sale To Lone Star Waived

The sale to Lonestar of Portugal’s 75% stake in Novo Banco will proceed after the private equity firm assented to the waiver of a minimum participation condition. The condition stated that at least 75% of bondholders in the nationalized... 
Verizon Seeking FCC Nod In Bid To End Legacy Services

Verizon Seeking FCC Nod In Bid To End Legacy Services

Reports indicate that U.S. telecommunications giant Verizon has sought permission from the Federal Communications Commission seeking the discontinuation of four legacy DS0 services currently in use in seven states. The low-speed and... 
Nvidia’s Shield Video Streaming And Gaming Device Now Works With Google Assistant

Nvidia’s Shield Video Streaming And Gaming Device Now Works With Google Assistant

Nvidia has announced that Google Assistant now works on its video gaming and streaming device, Shield. The addition of the virtual assistant technology from the online search giant will present direct competition to Apple TV. However... 
ABB To Purchase GE’s Industrial Solutions Unit $2.6 Billion

ABB To Purchase GE’s Industrial Solutions Unit $2.6 Billion

Swiss engineering firm ABB has announced that it is acquiring the industrial solutions business unit of General Electric at a price of $2.6 billion. Under the deal ABB will continue to use GE’s brand. ABB is betting that it can increase... 
Twitter Lunches A Lighter Version Of Its App For Android Users In Emerging Markets

Twitter Lunches A Lighter Version Of Its App For Android Users In Emerging Markets

Twitter is testing an app on the Android operating system named Twitter Lite which is designed for mobile networks that have slow speeds and expensive data prices. The app is expected to consumer less data on wireless carriers and... 
Cisco To Offer Digital Solutions In Partnership With Mercy Corps

Cisco To Offer Digital Solutions In Partnership With Mercy Corps

Mercy Corps and Cisco are partnering on an initiative intended to assist in delivering development assistance and aid better and faster to more people across the globe. The initiative is expected to run for five years and will cost... 
Verizon To Offer Free Calls And SMS After Mexico Earthquake

Verizon To Offer Free Calls And SMS After Mexico Earthquake

After the latest earthquake in Mexico, Verizon has announced that it will be providing free calls on both the wireless and wireline services between Mexico and the United States so that friends and family in the two countries can remain... 
Facebook Fined In Spain Over Privacy Law Breach

Facebook Fined In Spain Over Privacy Law Breach

Spain has slapped $1.4 million fine on Facebook after the data watchdog in the European country found that the social media giant was guilty of breaking privacy laws. According to the data watchdog, the social media giant broke the... 
Snap Inc Downgraded By Analyst Over Growth Fears

Snap Inc Downgraded By Analyst Over Growth Fears

The rating of the stock of Snap Inc has been cut by Deutsche Bank analysts over the fact that despite the disappearing message company’s advertising technology improving, advertiser interest was waning. According to analyst Lloyd... 
Amazon Hunting For A Second Corporate Headquarters

Amazon Hunting For A Second Corporate Headquarters

Amazon has announced that it is looking for a site for its second headquarters. The development of the headquarters which will be known as ‘HQ2’ will cost around $5 billion and will generate approximately 50,000 jobs. According... 
Oracle NetSuite Recognized As Leading Commerce Suites In B2B Category

Oracle NetSuite Recognized As Leading Commerce Suites In B2B Category

Oracle NetSuite has been recognized as a leading provider of financials that are cloud-based in the third quarter of this calendar year. Consequently the application has been recommended for business-to-business customers who are midsized... 
Efforts To Restart Exxon’s Baytown Refinery In High Gear

Efforts To Restart Exxon’s Baytown Refinery In High Gear

Exxon Mobil has revealed that its Baytown refinery located in Houston will be restarted after it was shut down following Tropical Storm Harvey. The Baytown refinery is the second biggest oil refinery in the United States with an average... 
Renault-Nissan Alliance In Joint EV Venture With Dongfeng Motor Corp

Renault-Nissan Alliance In Joint EV Venture With Dongfeng Motor Corp

The alliance between Renault and Nissan has announced that it is planning to produce electric cars in China in partnership with Dongfeng Motor Corp, a Chinese automaker. The new partnership will be known as eGT New Energy Automotive.... 
Google And Apple Both Pursuing Same Augmented Reality Strategy

Google And Apple Both Pursuing Same Augmented Reality Strategy

In an effort to make augmented reality more popular, Google has changed its strategy and is now no longer requiring devices to have special depth sensors fitted in them. Rather it is developing software targeted at developers and this... 
Amazon Struggles In China In The Face Of Stiff Competition

Amazon Struggles In China In The Face Of Stiff Competition

According to analysts in the retail sector the launch of Amazon’s Prime program in China hasn’t paid off as was expected. In launching the membership program in the world’s most populous country Amazon was hoping free international... 
CapitaLand Inks Property Management And e-Commerce Deals With Alibaba

CapitaLand Inks Property Management And e-Commerce Deals With Alibaba

Capitaland, a real estate developer has disclosed that it entered into a deal with Alibaba to manage the online retail giant’s Shanghai headquarters. The deal will also see Capitaland, which owns and manages properties worth S$80... 
Baidu To Sell Its Food Delivery Business To Tech Rivals

Baidu To Sell Its Food Delivery Business To Tech Rivals

Ele.me, Baidu’s takeout delivery business, is being sold by the Chinese online search giant to a firm that is backed by the biggest online retailer in China, Alibaba. The deal will involve both cash and stock. According to sources... 
First Crude Consignment From Libya In Five Years Lifted By Shell

First Crude Consignment From Libya In Five Years Lifted By Shell

The largest oil trader in the world, Royal Dutch Shell, loaded a consignment of crude from Libya. This was the first such loading in five years, a sign that Libya is making a comeback as a leading oil producer. The cargo, which consisted... 
Volkswagen Microbus Coming Back To Market

Volkswagen Microbus Coming Back To Market

Volkswagen Group has announced plans to revive its popular microbus as an electric vehicle. The old microbus was among the most recognizable Volkswagens in the brand’s 1960s hippie heyday. The company made the announcement at... 
Target Records Sales Increase In Latest Quarter

Target Records Sales Increase In Latest Quarter

Target Corp.’s (NYSE:TGT) efforts to revamp its business showed signs of success in its latest quarter. Target reported a profit of $672 million, or $1.22 a share, compared with $680 million, or $1.16 a share, a year earlier.... 
Judge Rules Against Costco In ‘Tiffany’ Rings Case

Judge Rules Against Costco In ‘Tiffany’ Rings Case

A federal judge has ruled against Costco (NASDAQ:COST) in a case that accused the company of illegally using the Tiffany & Co. (NYSE:TIF) brand in conjunction with ring sales and marketing. The judge ruled that Costco must pay... 
Disney To Launch Its Own Streaming Services

Disney To Launch Its Own Streaming Services

The Walt Disney Company (NYSE:DIS) is launching two Netflix-style streaming services in a bid to address the pressure on its television business. Disney reported a slight decline in revenue and a 9 percent drop in net income for its... 
Boeing Reaches Deal To Provide New Presidential Aircraft

Boeing Reaches Deal To Provide New Presidential Aircraft

Boeing Co. (NYSE:BA) has been awarded the Air Force contract to build two 747s that will become future Air Force One aircraft. The aerospace giant will sell the U.S. Air Force two commercial 747-8 jetliners that will be modified into... 
Michael Kors Adding Jimmy Choo To Its Portfolio

Michael Kors Adding Jimmy Choo To Its Portfolio

Michael Kors (NYSE:KORS) has bid $1.2 billion to buy London-listed luxury shoemaker Jimmy Choo (LON:CHOO). The valuation is 15.2 times forward earnings before interest, taxes, depreciation and amortization. The total price, including... 
KKR To Acquire WebMD In $2.8B Deal

KKR To Acquire WebMD In $2.8B Deal

Global investment firm Kohlberg Kravis Roberts (NYSE:KKR) has agreed to buy WebMD Health Corp. (NASDAQ:WBMD) for about $2.8 billion. KKR will pay $66.50 per share in cash in the transaction. The financing for the transaction is fully... 
Amazon’s Whole Foods Deal Under Scrutiny

Amazon’s Whole Foods Deal Under Scrutiny

A group of Democrats in Congress sent a letter this week urging the U.S. Department of Justice and the Federal Trade Commission to conduct an in-depth review of Amazon.com Inc.’s (NASDAQ:AMZN) $13.7 billion deal to purchase Whole... 
Carrier Corp. Begins Hundreds Of Layoffs

Carrier Corp. Begins Hundreds Of Layoffs

Thursday was the last day of work for hundreds of Carrier Corporation workers. The Carrier fan coil manufacturing facility in Indianapolis has begun laying off 338 employees. The layoffs are part of the previously announced plan, the... 
Disney Adding Three More Ships To Cruise Line

Disney Adding Three More Ships To Cruise Line

Disney Cruise Line’s (NYSE:DIS) fleet will be growing by three. The new ships would be similar in size to Disney’s newest ships, Disney Dream and Disney Fantasy. Each of those ships carry about 2,500 passengers at double occupancy.... 
Google Back Taxes Dismissed By French Court

Google Back Taxes Dismissed By French Court

A Paris court has dismissed a €1.11 billion ($1.27 billion) tax bill levied against Google. That amount represents five years of back taxes for a period ending in 2010. The ruling was a major victory for Google. The dispute had been... 
Sears Announces New Round Of Store Closures

Sears Announces New Round Of Store Closures

Sears Holdings (NASDAQ:SHLD) has announced a new round of store closings, this one targeting 43 Sears and Kmart locations. The company says that eight Sears department stores and 35 Kmart discount stores chain will close. The retailer... 
Microsoft Announces Layoffs In Sales Force

Microsoft Announces Layoffs In Sales Force

Microsoft (NASDAQ:MSFT) has begun laying off thousands of employees, mostly in its sales department. The eliminations will be some of the most significant to the sales force in years. The layoffs also expected to impact local marketing... 
Nearly 3 Dozen Arrested In China Over Transit Elevated Bus Investments

Nearly 3 Dozen Arrested In China Over Transit Elevated Bus Investments

This week, police in Beijing announced that it had started an investigation into the company behind the Transit Elevated Bus, or TEB. So far, the police have arrested 32 people for illegal fundraising linked to the project. There had... 
Uber-Google Lawsuit Turns Focus To Internal Emails

Uber-Google Lawsuit Turns Focus To Internal Emails

The lawsuit over self-driving car technology involving Uber and Google’s parent company Alphabet (NASDAQ:GOOG) continues, with internal emails from Uber now being entered into the record. Uber is saying no one at the ride-hailing... 
Reports Of Nike Deal With Amazon Tank Rivals Values

Reports Of Nike Deal With Amazon Tank Rivals Values

Reports have emerged of a potential deal for Nike (NYSE:NKE) to begin selling its sneakers directly through Amazon.com (NASDAQ:AMZN). Nike would potentially also be selling its athletic gear directly on Amazon’s e-commerce site....