Beijing Sinnet Technology said Tuesday it would buy parts of Amazon’s cloud business in China for up to 2 billion Chinese yuan ($301 million), but the U.S. e-commerce giant said it was not exiting the world’s second-largest economy. In August 2016, Amazon signed a deal to let Chinese tech firm Sinnet operate services provided by […]
Read moreEuropean stocks are expected to open lower Tuesday, dragged down by negative sentiment in China and the U.S. The FTSE 100 is seen off by 7 points at 7,409; the German DAX is set to start lower by 8 points at 13,080 and the CAC 40 is seen down by 5 points at 5,336. In […]
Read moreOPEC, Russia and other producers are in the midst of a joint effort to force a rebalancing of the oil market, with prices climbing to two-and-a-half-year highs in recent weeks. However, with persistently strong oil exports dampening market sentiment and capping gains, CNBC takes a look at the world’s 10 leading oil exporters. Source: cnbc […]
Read moreAs President Donald Trump seeks to strengthen the U.S.-Philippine alliance, his administration is embarking on two controversial actions that risk inflaming Asia-Pacific tensions. That is, Washington has been helping Manila fund its deadly anti-narcotics campaign and is looking to maintain a military presence in the South China Sea to prevent Beijing from further territorial expansion. […]
Read moreFor the first time, the Food and Drug Administration has approved a digital pill — a medication embedded with a sensor that can tell doctors whether, and when, patients take their medicine. The approval, announced late on Monday, marks a significant advance in the growing field of digital devices designed to monitor medicine-taking and to […]
Read moreChina’s fixed-asset investment growth slowed to 7.3 percent in the January-October period, and came in slightly below market expectations. Analysts polled by Reuters had predicted investment growth of 7.4 percent. Private sector fixed-asset investment rose 5.8 percent in January-October, down from the first nine months of the year. Industrial output grew 6.2 percent in October […]
Read moreJapan’s SoftBank Group said on Tuesday that it was considering investing in Uber Technologies but there was no final agreement at this stage. “If conditions on share price and a minimum of shares are not satisfactory for the SoftBank Group side, there is a possibility the SoftBank Group may not make an investment,” it said […]
Read moreAmazon may not sell real tanks or fighter jets, but the Pentagon could soon be looking to buy other items in bulk from the e-commerce giant, according to a pending bill. The bill, formally known as the 2018 National Defense Authorization Act, is part of an annual measure that sets defense policy and authorizes spending […]
Read moreJia Yueting, the 44-year-old founder of Chinese tech company LeEco, once envisioned building a Chinese empire that would rival U.S. tech giants Netflix, Tesla and Apple all together. With that vision, Jia quickly expanded his company from a video streaming portal to a multinational conglomerate, or a “sharing ecosystem” as he called, selling products from […]
Read moreU.S. equities ended marginally higher on Monday as investor concerns about the progress in U.S. tax reform weighed on sentiment. In Asia, markets awaited the release of a slew of Chinese economic data points due later in the day. Proposed tax cuts were in focus stateside, with President Donald Trump joining the fray and calling […]
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