LATEST ARTICLES

China fund managers slash ZTE valuation after U.S. sanction

SHANGHAI (Reuters) - Chinese funds have slashed valuations of ZTE Corp after the United States banned American companies from selling components to the telecoms equipment maker for seven years, a move ZTE said threatened its very survival. The logo of China's ZTE Corp is seen on a building in Nanjing, Jiangsu province, China April 19, 2018. REUTERS/Stringer The...

Amazon to double down on groceries; foray deeper into fresh produce in India

BENGALURU (Reuters) - Amazon.com Inc expects groceries and household products to account for over half of its business in India in the next five years, as it moves to broaden offerings in the segment and foray into areas such as fresh produce. The logo of Amazon is pictured inside the company's office in Bengaluru, India, April 20, 2018. Picture...

Springsteen’s ‘Born to Run’ lyrics could fetch $300,000 at auction

(Reuters) - Bruce Springsteen’s early, handwritten manuscript to “Born to Run,” the rocker’s 1975 star-making hit, is expected to fetch between $200,000 and $300,000 when it goes up for auction in June, Sotheby’s said on Friday. FILE PHOTO: Singer Bruce Springsteen performs during the closing ceremony for the Invictus Games in Toronto, Ontario, Canada September 30, 2017. ...

Apple offers battery replacement for some MacBooks after flaws reported

(Reuters) - Apple Inc (AAPL.O) on Friday said component failure in a limited number of MacBook Pros has caused built-in battery to expand, adding, it will offer worldwide free replacement for such batteries. FILE PHOTO: The Apple Inc. store is seen in Los Angeles, California, U.S., September 16, 2016. REUTERS/Lucy Nicholson/File Photo Apple said the flaw, reported in some...

U.S. appeals court blocks Indiana ‘selective’ abortion law

(Reuters) - A federal appeals court on Thursday declared unconstitutional an Indiana law signed by then-Governor Mike Pence that banned women from having abortions because of the gender, race or disability, including Down’s syndrome, of their fetuses. U.S. Vice President Mike Pence participates in the opening session of the Americas Summit in Lima, Peru April 14, 2018. REUTERS/Andres StapffThe...

China trade body urges tighter corporate compliance after ZTE woes: document

BEIJING (Reuters) - A state-backed Chinese trade body said compliance is now a core risk for Chinese firms and that the government must speed up the implementation of guidelines on corporate oversight following a U.S. ban on sales to ZTE Corp. The logo of ZTE Corp is seen on its building in Beijing, China April 19, 2018. Picture taken...

Artist Jeff Koons, New York gallery are sued over late sculptures

NEW YORK (Reuters) - A Wall Street investor sued American artist Jeff Koons and a prominent New York City gallery on Thursday for more than $39 million over their failure to deliver three Koons sculptures, alleging a scheme to deceive customers. Artist Jeff Koons poses for a photo at the unveiling oh his public art piece "Seated Ballerina" at...

Novartis CEO feels heat on U.S. generics, Cosentyx drop

ZURICH (Reuters) - Swiss drugmaker Novartis’ first quarterly results under new CEO Vas Narasimhan have been marred by a prized psoriasis treatment that disappointed and a sharp slump in sales by its U.S. generics unit. FILE PHOTO: Logo of Swiss drugmaker Novartis is seen at its branch in Schweizerhalle near Basel, Switzerland, March 29, 2018. REUTERS/Arnd Wiegmann/File PhotoThe stock...

Consumer activists, experts advise against buying ZTE phones

(Reuters) - Consumer activists and technology experts are advising consumers to hold off on buying Android handsets from China’s ZTE until the company clarifies whether U.S. sanctions against the company prevent it from providing operating system updates for its devices. A ZTE smart phone is pictured in this illustration taken April 17, 2018. REUTERS/Carlo Allegri/IllustrationThe U.S. Commerce...

Exclusive: Facebook to put 1.5 billion users out of reach of new EU privacy law

SAN FRANCISCO (Reuters) - If a new European law restricting what companies can do with people’s online data went into effect tomorrow, almost 1.9 billion Facebook Inc users around the world would be protected by it. The online social network is making changes that ensure the number will be much smaller. Facebook members outside the United States and Canada,...