TOKYO: Nintendo cut its full-year net profit forecast on Tuesday (Feb 7), saying the global chip shortage and other supply chain problems had hit console sales in the nine months to December. The Japanese gaming giant also trimmed the annual hardware sales forecast for its Switch console to 18 million […]
Business
WASHINGTON : A U.S. judge issued a public ruling on Friday evening that denies a request by the U.S. Federal Trade Commission to stop a plan by Meta Platforms Inc to buy virtual reality content maker Within Unlimited, nixing regulators’ attempt to block the deal over concerns it would reduce […]
MUMBAI: Under-fire Indian tycoon Gautam Adani insisted Thursday (Feb 2) that the fundamentals of his conglomerate were “strong” even as shares in its companies plunged again after the group cancelled a multi-billion-dollar stock sale. Adani’s empire has lost more than US$100 billion following explosive allegations of accounting fraud last week […]
LONDON: Half a million people stopped work over pay in Britain on Wednesday leaving transport networks paralysed and thousands of classrooms empty in the largest walkout in over a decade. As Europe battles a cost-of-living crisis, Britain’s umbrella labour organisation the Trades Union Congress (TUC) called it the “biggest […]
MUMBAI: A US$2.5 billion share sale by India’s Adani Enterprises remains on schedule at the planned issue price, the company told Reuters on Saturday (Jan 28), while sources said bankers were considering changes due to a market rout in the group’s shares. Bankers on the deal were considering extending the […]
WASHINGTON: The House Foreign Affairs Committee plans to hold a vote next month on a bill aimed at blocking the use of China’s popular social media app TikTok in the United States, the committee confirmed yesterday. The measure, planned by the panel’s chair Representative Michael McCaul, a Republican, would aim […]
THE HAGUE : ASML Holding NV said on Saturday it understood progress had been made towards an agreement among several governments on new restrictions on semiconductor manufacturing equipment exports to China. ASML, a key supplier to chipmakers, has been restricted from selling its most advanced tools to China since 2019. […]
NEW YORK: From CNN to the Washington Post, US media are facing tough times, as a series of outlets have announced layoffs this winter amid fears of an economic downturn. Vox Media, owner of the Vox and The Verge websites as well as the landmark New York Magazine and its […]
WASHINGTON: Twitter boss Elon Musk announced in a series of tweets on Saturday (Jan 21) that the company’s subscription service would show less advertising to users, including an ad-free tier. The announcement comes as the social network has faced major economic uncertainty since its takeover by Musk in October. “Ads […]
WASHINGTON : Major unions and public interest and environmental groups are urging President Joe Biden to reject efforts by the European Union and other foreign governments to revise U.S. electric vehicle tax incentives. The $430 billion U.S. Inflation Reduction Act (IRA) passed in August restricts $7,500 consumer tax credits to […]