Business News
Huawei secretly helped North Korea build, maintain wireless network -Washington Post7/22/2019 4:30:21 PM Huawei Technologies Co Ltd [HWT.UL], the Chinese company put on a U.S. blacklist because of national security concerns, secretly helped North Korea build and maintain its commercial wireless network, the Washington Post reported on Monday, citing sources and internal documents.
Trump: 'We will have to find out' about Huawei's relationship with North Korea7/22/2019 4:29:12 PM Asked about a media report that said Huawei Technologies Co Ltd [HWT.UL] had secretly built and maintained North Korea's commercial wireless network, U.S. President Donald Trump said on Monday, "We will have to find out."
Trump is expected to drop in on White House tech meeting with Broadcom, Intel CEOs: sources7/22/2019 4:25:37 PM Chief executives from chipmakers Intel and Broadcom will attend a Monday meeting at the White House to discuss Huawei's blacklisting and other topics, and President Donald Trump is expected to drop in even though the meeting was not on his official schedule, according to two people briefed on the matter.
Wall Street mixed ahead of major earnings, key central bank meetings7/22/2019 4:13:27 PM The S&P 500 index pared early gains to tread water on Monday, as investors awaited key central bank meetings for direction on the path of interest rates and earnings from marquee names including Facebook and Amazon that are set to report this week.
Microsoft to pay criminal fine to settle U.S. anti-bribery charges7/22/2019 4:11:24 PM Microsoft Corp agreed on Monday to pay about $25.3 million, including a criminal fine, to settle U.S. charges it made improper payments that were used to bribe government officials in Hungary and other countries.
Fitch cuts Boeing's debt outlook to 'negative' on 737 MAX problems7/22/2019 4:02:44 PM Fitch Ratings lowered its debt outlook for Boeing Co to "negative" from "stable" on Monday, citing regulatory uncertainty around the timing of its 737 MAX jets' return to service.
Halliburton profit beats as company cuts cost; shares rise7/22/2019 3:54:30 PM Halliburton Co on Monday beat analysts' estimates for second-quarter profit as its largest oil-well services unit exceeded expectations, putting the company's shares on track for the biggest one-day gain in nearly three years.
Bunge and BP team up for Brazil sugar and ethanol venture7/22/2019 3:41:17 PM U.S. commodities trader Bunge Ltd and British energy company BP Plc said on Monday they will merge their Brazilian sugar and ethanol operations to create the world's third-largest sugarcane processor.
BP says biofuel to add to rather than replace gasoline in Brazil7/22/2019 3:41:17 PM BP does not expect supply from additional biofuel capacity in Brazil - where it is combining its unit with U.S. grain trader Bunge's - to replace diesel and gasoline demand, BP's head of Alternative Energy, Dev Sanyal, told Reuters.
Equifax to pay $700 million over 2017 data breach, compensate consumers7/22/2019 3:34:10 PM Credit-reporting company Equifax Inc will pay up to $700 million to settle U.S. federal and state probes into a massive 2017 data breach of personal information that affected around 147 million consumers, authorities said on Monday.
U.S. stocks gain ground on trade optimism; oil climbs7/22/2019 3:23:55 PM U.S. stocks advanced on Monday at the start of a heavy earnings week, while European shares overall were little changed, as investors took heart from potential progress in U.S.-China trade talks and escalating geopolitical tensions sent oil prices higher.
Philadelphia Energy Solutions files for bankruptcy after refinery fire7/22/2019 3:05:46 PM Philadelphia Energy Solutions (PES) filed for Chapter 11 bankruptcy protection, the company said on Monday, its second such filing in less than two years, after a fire last month prompted it to close the largest refinery on the U.S. East Coast.
Philips sales spurred by rising Chinese healthcare spending7/22/2019 2:58:52 PM Rising healthcare spending by the Chinese government helped Dutch health technology company Philips post better-than-expected sales growth for the second quarter, putting its shares among the top performers in Europe on Monday.
Toshiba Memory sees 'good chance' of M&A in push for data center business7/22/2019 2:46:27 PM Japan's Toshiba Memory said there was a "good chance" of acquisitions as it pushes to increase its share of the market for advanced storage products used in data centers.
Oil outlook sours as sanctions, global tensions fail to bring out bulls7/22/2019 2:15:03 PM Sentiment in the oil market has shifted dramatically in recent days, with hedge funds, producers and traders all taking a more bearish tack in response to what they see as weakness in worldwide demand.
Microsoft to invest $1 billion in OpenAI7/22/2019 2:13:04 PM Microsoft Corp said on Monday it was investing $1 billion in San Francisco-based OpenAI and that the two had formed a multi-year partnership to develop artificial intelligence supercomputing technologies on Microsoft's Azure cloud computing service.
Oil prices rise more than 1% after Iran seizes British tanker7/22/2019 12:38:57 PM Oil prices rose on Monday on concerns that Iran's seizure of a British tanker last week may lead to supply disruptions in the energy-rich Gulf.
Starbucks' China rival Luckin Coffee plans first foray overseas7/22/2019 11:22:49 AM Starbucks' Chinese challenger, Luckin Coffee , plans to open coffee shops in the Middle East and India, in its first move overseas.
Hyundai Motor lays out U.S. recovery plan, places hope on new SUV models7/22/2019 11:12:49 AM South Korea's Hyundai Motor Co laid out its U.S. sales turnaround plan on Monday with an expanded line-up of sport-utility vehicles (SUV), after posting its biggest quarterly profit jump in seven years.
Bayer could benefit from home advantage in St. Louis Roundup cancer trial: experts7/22/2019 10:52:11 AM Bayer AG , facing an upcoming trial in St. Louis over allegations that its Roundup weed killer causes cancer, has recruited Missouri-based expert witnesses to make its case in a place where it has century-old roots but where juries often hit companies with huge damages.