JINJIANG, China — With a dragnet closing in, engineers at a Taiwanese chip maker holding American secrets did their best to conceal a daring case of corporate espionage. As the police raided their offices, human resources workers gave the engineers a warning to scramble and get rid of the evidence. USB drives, laptops and documents […]
Read moreWalt Disney said on Thursday it was willing to divest Twenty-First Century Fox assets that generated up to $1 billion in earnings before interest, tax, depreciation, and amortization (EBITDA) to get a regulatory nod for the deal. Disney in a regulatory filing said it was willing to divest the assets, potentially including regional sports networks. […]
Read moreElectric car maker Tesla’s move last week to cut 9 percent of its workforce will sharply downsize the residential solar business it bought two years ago in a controversial $2.6 billion deal, according to three internal company documents and seven current and former Tesla solar employees. The latest cuts to the division that was once […]
Read morePolice in Tempe, Arizona said evidence showed the “safety” driver behind the wheel of a self-driving Uber was distracted and streaming a television show on her phone right up until about the time of a fatal accident in March, deeming the crash that rocked the nascent industry “entirely avoidable.” A 318-page report from the Tempe […]
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OPEC heads into showdown over oil output, with Saudi Arabia and Iran on different sides
OPEC is scrambling to reach a deal over production policy amid heightened political tensions between some member states. Energy ministers have been laying the groundwork all week for Friday’s biannual meeting in Vienna, Austria, where OPEC is expected to ease supply constraints that have been in place since January 2017. De-facto OPEC leader Saudi Arabia […]
Read moreU.S. protectionism is self-defeating and a “symptom of paranoid delusions” that must not distract China from its path to modernization, Chinese state media said on Friday as Beijing kept up with its war of words with Washington over trade. U.S. President Donald Trump threatened on Monday to hit $200 billion of Chinese imports with 10 […]
Read moreGoogle-owned video-sharing service YouTube has announced new features to help creators make money on the platform, amid ongoing concerns surrounding advertising and monetization. The firm said in a blog post Friday that it would let YouTube channels offer $4.99-a-month “channel memberships” that users can buy to access exclusive content. The premium subscription feature was previously […]
Read moreAirbus issued its strongest warning yet over the impact of Britain’s departure from the European Union, saying that a withdrawal without a deal on future trade would force it to reconsider its long-term position in the U.K. In a memorandum issued late on Thursday, Airbus said softer plans for a transition period ending in December […]
Read moreEuropean markets are set to open slightly higher Friday morning, amid ongoing tensions in the energy market ahead of an OPEC meeting that could expand crude production. The FTSE 100 is seen 12 points higher at 7,568; the CAC is also expected to open up around 12 points at 5,326 while the DAX is poised […]
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Euro zone hits 'historic moment' as it closes eight years of financial support to Greece
The euro zone ended nearly a decade of financial assistance and austerity in Greece early on Friday. After a marathon meeting that culminated with an agreement on debt relief, euro zone members have congratulated Greece for legislating hundreds of measures over the last three years and restoring economic growth. Greece is now due to successfully […]
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