WASHINGTON: Goldman Sachs on Thursday (Oct 22) said it was clawing back US$174 million in executive compensation and had agreed to pay US$2.9 billion over its role in Malaysia’s 1MDB corruption scandal, lifting a cloud that has hung over the bank for years. The settlement with the US Department of […]
Business
NEW YORK: Intel on Thursday (Oct 22) missed third-quarter revenue estimates for its data-centre chip unit as the COVID-19 pandemic crippled sales to government and business customers, sending its shares down 10 per cent. Revenue from Intel’s data-centre business fell 7 per cent to US$5.9 billion in the reported quarter, […]
NEW YORK: US companies’ borrowings for capital investments fell about 13 per cent in September from a year earlier, the Equipment Leasing and Finance Association (ELFA) said on Thursday (Oct 22). The companies signed up for US$8.7 billion in new loans, leases and lines of credit last month, down from […]
Amazon.com Inc said on Thursday it has invested US$100 million in opening new warehouses in Mexico, including its first shipping centers outside the populous capital area, in a bid to offer faster deliveries. MEXICO CITY: Amazon.com Inc said on Thursday it has invested US$100 million in opening new warehouses in […]
Wipro announced it has entered into an agreement with enterprise application software provider SAP to offer advanced customer-specific content and training assets and boost productivity. Wipro on Thursday announced it has entered into an agreement with enterprise application software provider SAP to offer advanced customer-specific content and training assets and […]
CALIFORNIA: Facebook said on Wednesday (Oct 21) it is launching its dating service in 32 European countries after the rollout was delayed earlier this year due to regulatory concerns. The social media company had postponed the rollout of Facebook Dating in Europe in February after concerns were raised by Ireland’s […]
Flipkart and Amazon are likely to sell about 15 mn smartphones in India during the festive sales, which will account for over 36 per cent of total expected sales for October-December, Techarc said E-commerce firm Flipkart and Amazon are likely to sell about 1.5 crore smartphones in the country during […]
WASHINGTON: The US economy continued to recover at a slight to modest pace through early October as consumers bought homes and increased spending, but the picture varied greatly from sector to sector, the Federal Reserve said on Wednesday (Oct 21). The Fed’s Beige Book report was decidedly more upbeat than […]
The value of global trade is set to fall by 7per cent to 9per cent in 2020 from the previous year, despite signs of a fragile rebound led by China in the third quarter, a United Nations report said on Wednesday. GENEVA: The value of global trade is set to […]
Snapchat saw its daily active user base jump to touch 249 million, from 238 million in last quarter, as the company registered a 52% increase in revenue at $679 million in its third quarter Snapchat saw its daily active user base jump to touch 249 million, from 238 million in […]