International News - Page 20

Brazil bandits rob Samsung smartphones, tablets worth $36 mn

Bandits attacked a Samsung Electronics Co Ltd factory near Sao Paulo late Sunday and held workers hostage while they robbed truckloads of smartphones, tablets and notebook computers that police valued at $36 million.

M&A activity expected to pick-up as SE Asia e-commerce market soars

In Southeast Asia, there is no one company with the number one position in two markets. Therefore the region is ripe for M&A activity and we expect to see market developments in the near future, says Frost & Sullivan.

China's top graft-buster says ruling Communist Party not off limits in probes

The party this week announced that Xu Caihou, who retired as vice chairman of the powerful Central Military Commission last year, had been expelled from the party and will be court-martialled after being accused of corruption.<br />

As iWatch launch nears, Apple poaches senior exec from luxury watch brand Tag Heuer

Tag Heuer, part of luxury goods group LVMH, said on Friday its vice president for sales, Patrick Pruniaux, who had been with the brand for seven years, was leaving on Monday to join Apple. It did not say what his new job would be.<br />

Banks shouldn't offer customers bitcoin accounts: EU banking authority

Bitcoin, the best known of the 200 or so computer-generated currencies, started circulating in 2009, and acceptance has been growing as more merchants allow customers to pay for goods and services in the currency.<br />

Facebook buys LiveRail in bid to boost video ads

Facebook Inc is acquiring video advertising company LiveRail in the Internet social network's latest step to make video ads a bigger part of its business.

Two counts dismissed in Rajaratnam brother's insider trading trial

Rengan Rajaratnam, a former Galleon fund manager, still faces a conspiracy count, after U.S. District Judge Naomi Reice Buchwald at a hearing in Manhattan dismissed other counts related to improper trading in technology company Clearwire Corp.<br />

Google buys music streaming service Songza for $15 mn

Google said on Tuesday it would explore ways to incorporate aspects of Songza into its existing streaming music service over the coming months. For now the four-year-old Songza service, which creates "expert-curated" music playlists intended to match users' activities and tastes, will remain unchanged for existing users.<br />

Dow, S&P end at record highs on uptick in US manufacturing activity

Financial data firm Markit said its final U.S. Manufacturing Purchasing Managers Index rose to 57.3 in June, the highest since May 2010, although it was slightly lower than the preliminary read of 57.5.<br />

JPMorgan CEO Dimon diagnosed with throat cancer, to begin treatment shortly

He will undergo radiation and chemotherapy treatment that is expected to last about eight weeks.<br />

Twitter replaces CFO Mike Gupta with former Goldman exec Noto

Both Gupta, who joined Twitter in 2012 from social gaming company Zynga Inc, and Noto will take up their new roles within 30 days, Twitter said in a regulatory filing.<br />

BNP Paribas agrees to pay $9 bn after pleading guilty to violating US sanctions against Sudan

In an unprecedented move, regulators also banned BNP for a year from conducting certain U.S. dollar transactions, a critical part of the bank's international business.<br />

Tata Steel's UK plant to axe approximately 400 jobs

A consultation process, which will take over 45 days, will begin soon with affected employees and their representatives.

France proposes 1 bn euro credit line for Indian infra projects

The credit line would be available over three years and would be delivered through the French Development Agency, Fabius, who began his India visit on Monday, told reporters in New Delhi.<br />

India has the potential to be world's largest economy, says Facebook's Sandberg

India, an emerging global economic power, has the potential to become the largest economy in the world, Facebook Chief Operating Officer (COO) Sheryl Sandberg said today.

France confident of $20 bn Rafale deal with India: All you need to know

France pushed for a larger defense partnership with India as its Foreign Minister Laurent Fabius on Monday.

RIP Orkut: Google to shut its first social networking service in September

Google Inc will shut down its early social-networking service, Orkut, which was launched ten years ago but has failed to put Google ahead in what has become one of the Web's most popular businesses.

General Motors recalls another 8.23 mn cars, to compensate for ignition switch deaths

General Motors Co on Monday widened the list of older models it is recalling for potentially deadly ignition switches, adding 8.23 million compact and midsize cars that it has linked to seven crashes and three fatalities.

Global M&As hit 7-year high, deals worth over $1 trillion in last quarter

At over $1 trillion, the second quarter of 2014 was the highest in deal volume since the second quarter of 2007 and was up significantly from the $680 million in the first quarter of 2014.<br />

China plans 1,800 km-long rail link with Pakistan that runs through PoK

India has reportedly conveyed its reservations in this regard to China as it is being constructed through the disputed territory.<br />

Japan's unemployment rate at 16-year low, employment levels highest since 1992

The jobless rate in the world's third-largest economy fell to 3.5 percent, the lowest since 1997 and a level the Bank of Japan says is near full employment.

CNBC anchor says Apple CEO Tim Cook is gay, admits to error

CNBC anchor Simon Hobbs was part of a panel on a show discussing that there are CEOs at top American companies who are gay but have not publicly spoken about their sexual preferences.<br />

Cost cutting: China to curb constructions of unapproved govt buildings

The Communist Party has been eager to project a frugal image since Xi Jinping became president last year, renewing efforts to stamp out corruption

Neo version of A330 : Airbus set to upgrade its bestseller with new Rolls-Royce engines

Airbus, which has promised investors a decision before the end of the year on whether to revamp the 253- to 295-seat A330 passenger jet, said none had been taken so far.

Poker brand 888 bites back, cancels Suarez sponsorship deal after his ban

Poker brand 888 has cancelled its sponsorship deal with Luis Suarez after the Uruguay striker was banned from all soccer-related activity for four months for biting an opponent during a World Cup match.

Hunt for missing Malaysia Airlines Flight MH37 shifts farther south in Indian Ocean

The search for missing Malaysia Airlines Flight MH370 will shift south along a narrow arc identified as the most likely resting place of the plane, the Australia's deputy prime minister said on Thursday.<br />

Won't help clear India's oil payments to Iran, says US Fed

The US Federal Reserve is not involved in clearing payments made by India to Iran to pay some of its dues for oil

Tech moguls are trying to raise big money to fight big money problem in Washington

A group of influential Internet moguls aim to fix what they refer to as the "big money problem" in Washington politics by, well, raising cash.

Apple to start making larger iPhones from next month

Apple Inc's suppliers will begin producing larger versions of the iPhone in China next month, Bloomberg reported citing sources.

Swiss govt to relax rules for foreign assistance in tax evasion cases

The proposed revision in Switzerland's Tax Administrative Assistance Act would do away with an existing requirement where all individuals are given prior information before any details about them are shared with a foreign jurisdiction for alleged tax crimes.<br />