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TOKYO, Japan (AFP) — Bitcoin plunged 20 percent to a three-month low on Tuesday, its latest sharp loss following a series of setbacks for the cryptocurrency that, with a collapse across global mainstream markets adding to the selling. The virtual currency fell to $6,190 for the first time since mid-November, according to Bloomberg News, and represents the latest hammering for a unit that saw a stratospheric 26-fold rise last year. Tuesday’s collapse comes just six […]
NEW YORK, United States (AFP) — Wall Street stocks endured a brutal session Monday, with the Dow seeing one of its steepest ever one-day point drops, as the heady bullishness of early 2018 gave way to extreme volatility. The Dow Jones Industrial Average tumbled 4.6 percent to 24,345.75, having at one point plummeted nearly 1,600 points to hit a session low of 23,923.88. The broad-based S&P 500 dropped 4.1 percent to 2,648.94, while the tech-rich […]
by Rob Lever Agence France-Presse WASHINGTON, United States – Broadcom raised its bid for rival computer chipmaker Qualcomm on Monday to $121 billion, offering the richest-ever takeover effort in the tech sector in an effort to become the dominant player in the fast-growing market for connected devices. Singapore-based Broadcom, which has begun a process to reincorporate in the United States, called the hostile bid its “best and final offer.” The price hike steps up the pressure on California-based […]
SAN FRANCISCO, United States (AFP) – Two tech giants racing for a lead in autonomous driving clashed Monday in court as former Google car unit Waymo’s lawyer argued that Uber’s boss deliberately chose “to cheat” to get a leg up on competitors. The accusations flew in the opening day of a trial in which Google parent Alphabet’s Waymo division is seeking at least $1 billion over the theft of trade secrets from its self-driving car program. In opening remarks […]
BEIJING, China (AFP) — Japanese automaker Nissan Motor and its Chinese joint venture partner announced on Monday a $9.5 billion investment plan in China to increase annual sales by one million vehicles and boost electric car production. Dongfeng Motor Company is the latest Sino-foreign car company to splash out as China rolls out new regulations to limit gas vehicles and boost production of electric cars in coming years. Nissan’s high-end brand, Infiniti, will go all electric in […]
HONG KONG, China (AFP) — Asian markets tumbled on Monday after US stocks were pummelled at the end of last week, with traders fretting that a surging US economy will lead to sharp interest rate hikes by the Federal Reserve. The selling was also fuelled by profit-taking after a blistering January that saw several indexes strike record or multi-year highs, while tech firms took a hit from disappointing reports by Apple and Google parent Alphabet. […]
by Glenn Chapman Agence France-Presse SAN FRANCISCO, United States (AFP) — A billion-dollar trial pitting Alphabet-owned autonomous driving unit Waymo against Uber starts Monday, in what could be a blockbuster case between two technology giants over the alleged theft of trade secrets. The San Francisco courtroom battle will take place as Waymo and Uber race to perfect self-driving cars that people could summon for rides as desired in a turn away from car ownership. The […]
SAN FRANCISCO, United States (AFP) — Amazon has received patents for electronic systems that could enable warehouse monitoring through electronic pulses that guide employees by location. The patent filings, first reported this week by the news site Geekwire, come amid concerns over workplace conditions for the company, which has seen rapid growth in its warehouses or “fulfillment centers” key to its logistics. The publicly available patent documents show how wrist-worn devices could deliver ultrasonic pulses […]
WASHINGTON, United States (AFP) – Apple overtook Samsung in the fourth quarter as the largest smartphone producer in a declining global market for handsets, research firm IDC said Friday. A survey by IDC showed Apple — which reported its quarterly data Thursday — led all vendors with 77.3 million iPhones sold, giving it a 19.2 percent market share. Even though Apple’s fourth-quarter unit sales were down 1.3 percent from a year earlier, it was able to move ahead of […]
The Department of Finance (DOF) is now fine-tuning certain aspects of Package 2 Plus of the Duterte administration’s Comprehensive Tax Reform Program (CTRP), including adjustments covering excise taxes on tobacco products, to make sure that the proposal it submits to Congress is “solid, well-consulted and well-researched.” Finance Undersecretary Karl Kendrick Chua said some aspects of Package 2 Plus on the removal of the value-added tax (VAT) exemptions for coal and casino operations have already […]
by Tom Barfield Agence France-Presse FRANKFURT AM MAIN, Germany (AFP) – Shares in Germany’s biggest lender Deutsche Bank plunged on Friday after it said that President Donald Trump’s tax reforms in the US pushed it into the red in 2017. Deutsche Bank shares fell more than five percent to around 14 euros ($17.5) at the start of trade on Friday, pulling the overall market down by around 0.5 percent. Earlier, the Frankfurt-based bank had said that its […]
TOKYO, Japan (AFP) — Sony chief executive Kazuo Hirai, who led a major and successful overhaul at the Japanese electronics giant, will step down at the end of March, the firm said Friday. Hirai will become Sony chairman, filling a post that has been empty since June 2012, and will be replaced by the company’s current chief financial officer Kenichiro Yoshida on April 1. “As the company approaches a crucial juncture, when we will embark […]
