International News - Page 8

After Ola, SoftBank invests $250 mn in Uber's rival GrabTaxi

Japanese telecom giant SoftBank will invest $250 million in Southeast Asian mobile taxi booking app GrabTaxi, the two firms said today, as rivalry in the region between US-based Uber and homegrown rivals increases.

GlaxoSmithKline says it will axe hundreds of jobs in US

Many of the jobs lost will be from GSK's Research Triangle Park site in North Carolina as drug research is consolidated in Philadelphia and in Stevenage, near London.<br />

Uber inks deal for its app to be on all phones that use America Movil in Mexico

Uber Inc has signed a deal with billionaire Carlos Slim's America Movil to bring its app, to new customers in Latin America.

Boost for growth: China could save over $30 bn this year from falling oil prices

China is set to save a whopping $30 billion from its oil bills this year

Saudi emerges king at OPEC meet: Oil prices will remain low for now

The oil ministers of OPEC countries decided to keep the total production of oil at 30 million barrels per day.

Why the hell does Twitter want to spy on your mobile apps?

The feature, called "app graph," will allow the company to see what other applications users may have installed on phones or other devices.

Last minute objection from Argentina, WTO trade deal delayed

The World Trade Organization postponed adoption of the first global trade reform in its 19-year history on Wednesday, delaying by a day after a last-minute objection from Argentina, diplomats said.

Oil prices jittery as OPEC leader Saudi Arabia refuses to cut production

OPEC leader Saudi Arabia signaled on Wednesday it was unlikely to push for a major change in oil output at the producer group's meeting this week, a day after Russia refused to cooperate in any production cut. Saudi Oil Minister Ali al-Naimi said he expected the oil market "to stabilize itself eventually" but did not comment on talks with Russia held on Tuesday, which produced no firm pledge from Moscow to help support flagging oil prices.

Recession a possibility in Europe, warns German Chancellor

German Chancellor Angela Merkel Tuesday warned that Europe could slide back into recession, media reported.

China slaps Microsoft with $140 mn in back taxes

The Redmond, Washington-based company did not confirm the report, but also did not deny that it was the company involved.<br />

European Parliament may force Google to break up

In a move to curb the dominance of the search giant, the European Parliament is poised to call for a break-up of Google, the Financial Times reported.

US diplomats praise Modi, say new era has emerged for India

Praising Prime Minister Narendra Modi for his "determination" for development for all, two of the top US diplomats have said that "a new era" has emerged in India under his leadership.

Deflation bites: China ready to cut interest rates again, relax lending restrictions

Economic growth has slowed to 7.3 percent in the third quarter and policymakers feared it was on the verge of dipping below 7 percent - a rate not seen since the global financial crisis.

Apple's $450 million e-book settlement gets final court approval in US

The $400 million comes on top of earlier settlements with five publishers in the case, which provided $166 million for e-book purchasers.

Toyota Lexus to recall 422,509 vehicles from 2006-11 in US due to fuel leak

The recall covers Lexus LS from model years 2007 to 2010, Lexus GS from 2006 to 2011 and Lexus IS from 2006 to 2011.

Google tests replacing web ads with contributions

Google on Thursday began rolling out a way for people to support websites they frequent and, in return, be rewarded with ad-free pages.

China pledges $45.6 billion for energy and infra projects in Pak over next 6 years

The deal further cements ties between Pakistan and China at a time when Pakistan is nervous about waning US support as troops pull out of Afghanistan.

Launch more `Created in China' products and services urges Chinese PM

With factory growth stalling and a decelerating property market hurting demand for steel, cement and several other products, Beijing is under pressure to drive new areas of growth.

Aviva likely to buy out Friends Life, UK insurance firm, in 5.6 billion deal

Aviva's all-share offer of 0.74 shares for every Friends Life share implies a 15 percent premium to the closing price on Friday.

World markets headed for second week of gains as ECB signals QE expansion

World shares headed for a second week of gains on Friday after more reassuring U.S. data, while the yen pulled out of its dive as Japan's finance minister warned its recent weakening had been "too rapid".<br />

Singapore gets cracking: To regulate, cap fees charged by Uber, GrabTaxi

Singapore said on Friday it plans to regulate fast-growing third-party taxi booking services like Uber and GrabTaxi for the first time, capping fees and requiring them to dispatch only licensed cabs and drivers.

After Alstom deal, Blackstone now set to buy GE's Japan real estate arm for $1.6 bn

The deal comes as GE, whose financial arm was hit hard during the 2008 global financial crisis, moves back to its<br /> industrial roots including a recent deal to buy most of French giant Alstom's energy assets for 12.4 billion euros ($15.6 billion).<br />

Tech Mahindra makes its biggest acquisition abroad, buys LCC for $240 mn

Mahindra Group's IT arm Tech Mahindra has announced today that it signed a definitive agreement to acquire acquire US-based network solutions company Lightbridge Communications Corporation (LCC) for $240 million (Approx Rs 1,500 cr)

Not enough: Tech industry gives thumbs down to Obama's immigration rule changes

Major changes would require Congressional action, however, and tech industry executives are worried that partisan rancor over Obama's unilateral action could set back chances for legislation.<br />

Temporary visas to green cards: How Obama's new immigration plan impacts tech industry

The administration also rejected proposals made by tech companies that would speed up long wait lists for green cards.

Mozilla-Google deal ends. Yahoo will now become Firefox's default search engine

The partnership, which integrates Yahoo search into Firefox's browser for desktop PCs and mobile devices such as smartphones, will produce a "share gain" for Yahoo.

Nokia launches N1 Android tablet, an iPad lookalike

The aluminum-cased N1, which runs on Google's Android Lollipop operating software but features Nokia's new Z Launcher intelligent home screen interface, is due to be in stores in China in the first quarter of next year for an estimated price of $249 before taxes, with sales to other markets to follow.

BMW, Honda, 3 other automakers to recall cars in US over lethal air bags

The U.S. auto safety regulator has told Japanese supplier Takata Corp and five automakers to expand nationwide a regional recall of potentially lethal air bags, increasing pressure on the industry to move faster in a growing scandal.

Jack Ma increases investment in entertainment sector

A firm controlled by Alibaba founder Jack Ma and social media firm Tencent are set to invest a combined 2.8 billion yuan to raise their stakes in Huayi Brothers Media Corp, as China's tech giants push into entertainment.

The future? Toyota hopes to revolutionise market with hydrogen-powered Miraii

The world's largest automaker announced Tuesday that it will begin selling fuel cell cars in Japan on 15 December and in the US and Europe in mid-2015.