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TOKYO, Japan (AFP) — Japanese technology giant Fujifilm said Tuesday it was suing US firm Xerox, seeking more than $1 billion in damages after a merger between the two firms was scrapped last month. Fujifilm slammed what it said was a “unilateral decision to terminate without legitimate cause” the planned merger announced in January. The merger was shelved after a lawsuit by powerful shareholders Carl Icahn and Darwin Deason, who together own more than 15 […]
SYDNEY, Australia (AFP) — Apple was Tuesday fined Aus$9 million (US$6.7 million) by an Australian court for making false claims about consumer rights when refusing to fix faulty iPhones and iPads previously repaired by a third party. Customers of the US tech giant had complained to the Australian Competition and Consumer Commission (ACCC) after an operating system update disabled their devices in a global issue known as “error 53”. The users were told by Apple […]
HONG KONG, China (AFP) — Fresh fears of a trade war between the world’s top two economies sent most Asian markets tumbling on Monday after the United States and China imposed tit-for-tat tariffs on billions of dollars of imports. Energy firms were among the biggest losers as oil prices plunged ahead of a key OPEC meeting, where Saudi Arabia and Russia are expected to lift a two-year-old production cap. Donald Trump’s decision to hit China […]
TOKYO, Japan (AFP) — Tokyo stocks opened lower on Monday amid lingering worries over a US-China trade war and after a strong earthquake shook western Japan with no immediate reports of major damage. The benchmark Nikkei 225 index slipped 0.39 percent or 88.97 points to 22,762.78 in early trade, while the broader Topix index was down 0.53 percent or 9.51 points at 1,779.53. “Concerns over a US-China trade war are weighing on the market, prompting […]
TOKYO, Japan (AFP) — Japan’s SoftBank is planning to invest between $60-100 billion in a solar power project in India, a Japanese report said Friday, as the firm looks to expand its interests into various sectors. The report by public broadcaster NHK comes after SoftBank announced in March it would partner Saudi Arabia on a multi-billion dollar solar project that the company’s founder called the largest in the world. NHK said the massive investment in India […]
SAN FRANCISCO, United States (AFP) — Snapchat messaging service on Thursday set out to spread its reach, and panache, to other smartphone apps with a software kit that promised to share little data about users. Parent company Snap said people will be able to use Snapchat credentials to sign into apps the way they might do using Facebook or Google credentials, while strictly limiting access to personal data or activity tracking. The software kit […]
TOKYO, Japan (AFP) — The Tokyo DisneySea theme park is getting a $2.3 billion overhaul and adding a section based on the wildly popular movie “Frozen” to its offerings, its operator said Thursday. Oriental Land, which runs the ocean-themed park as well as the adjacent Tokyo Disneyland and hotels, said the 250-billion-yen ($2.3-billion) undertaking will be the most expensive expansion plan in the site’s 35-year history. The project will add attractions replicating the Kingdom of […]
LONDON, United Kingdom (AFP)–Rolls-Royce, the British maker of plane engines, said Thursday that it plans to cut 4,600 mainly British jobs by 2020, adding to thousands of cuts already announced in recent years. “Rolls-Royce announces the next stage in our drive for pace and simplicity with a proposed restructuring that will deliver improved returns, higher margins, and increased cash flow,” the group said in a statement. The London-listed company, whose engines are used in Airbus […]
HONG KONG, China (AFP) — Asian markets mostly fell Thursday after the Federal Reserve hiked interest rates and signaled a more hawkish tone for future moves, while US President Donald Trump stoked trade war fears by suggesting he will hit China with fresh tariffs. After a keenly watched meeting, the US central bank lifted borrowing costs, as expected, but indicated another two this year and four in 2019 as the world’s top economy continues to […]
The dollar extended gains against its peers in Asian trade Wednesday as investors await a key Federal Reserve decision later in the day, but most equity markets dipped. As the euphoria over the historic summit between Donald Trump and Kim Jong Un recedes, investors are focusing on macroeconomic issues with concerns over global trade causing some discomfort. “With a rate hike widely expected, investors are focused on the Fed’s statement wording, economic projections and press […]
by Kevin Trublet © Agence France-Presse LONDON, United Kingdom (AFP) — Bitcoin, the star of the cryptocurrency world, is widely seen as a freewheeling tool as open as the internet itself. But analysts have cast doubt on the veracity of that perception, highlighting that the bulk of bitcoin is in fact heavily concentrated in the hands of a powerful few. Some 1,000 bitcoin holders — out of a total 11 million — hold some 35.4 […]
TOKYO, Japan (AFP) — Toyota said Wednesday it was investing $1 billion in Asia ride-share company Grab, as the Japanese automaker looks to expand beyond its core business into the “mobility” sector. Grab, which is headquartered in Singapore, is a leading player in the ride-share industry in Asia, and earlier this year agreed to acquire US giant Uber’s regional operations. In a statement, Toyota said the deal “is aimed at achieving connectivity for Grab’s rental […]
