In the first quarter of the current year, Amazon.com made a profit of more than $1bn a month, the company has announced. Against a sale of $59.7bn, the company made a profit of $3.6bn for the three months ending 31… Read More ›
Economy & Finance
Zurich Insurance to pay $5.1 million to U.S. in tax evasion case
The development underscores U.S. due diligence on recovering tax dues by its citizens. Nowhere to run, nowhere to hide from U.S. tax authorities. In a significant development, the U.S. Department of Justice (DOJ) stated, Zurich Insurance will pay a penalty… Read More ›
Apple To Have Disappointing iPhone Sale In 2019: Goldman Sachs
US tech giant Apple Inc would not be able to meet up with expectations of the Wall Street in terms of its iPhone shipments in late 2019, said Goldman Sachs in a report. The market expects that the iPhone maker… Read More ›
5G Supply Failure Pushes Nokia To A Surprise Quarterly Loss
The failure of being able to deliver 5G telecoms equipment in time was the primary factors for a surprise quarterly loss for Finland’s Nokia, the company announced and added that the there was pressure on the company to make investment… Read More ›
Swedbanks admits to money laundering
Investors are concerned over the involvement of U.S. authorities. A U.S. sanction on the bank could significantly hamper its ability to transact in the U.S. dollar. On Thursday, in a significant development that adds pressure to the business environment in… Read More ›
Merger between Deutsche Bank & Commerzbank called off citing risks
Both banks have cited growing risks which impact synergy as reasons for calling off the merger. On Thursday, Deutsche Bank and Commerzbank stated, they have ended their merge talks. The announcement has cited restructuring costs, execution risks, and capital requirements,… Read More ›
Harley Davidson Blames EU Tariffs For Drop In Profits, Trump Backs Harley
United States president Donald Trump has stood out in support of Harley Davidson motorbike maker by pledging to reciprocate against the so called “unfair” trade import duties imposed on the bikes of the company by the European Union The US… Read More ›
Why Are American Cars Not Successful In Japan
Japanese car brands such as Toyota, Nissan, and Honda are known to dominate the US market while the home grown brand fail to achieve similar standards. And on the converse, very few American made brand cars can be seen on… Read More ›
Tobacco Firm Owned Life Insurance Firm To Offer Rebate To Smokers Who Quit
A wholly owned subsidiary Reviti will be launched by Philip Morris International and the new company would offer smokers bonus for quitting smoking or switching to a product taht is less carcinogenic such as the vaping devices that are offered… Read More ›
SoftBank eyeing to purchase 5% stake in German payments company Wirecard AG
SoftBank aims to buy bonds that can be later converted into Wirecard shares. As per a report from Bloomberg citing sources familiar with the matter at hand as saying, the SoftBank Group Corp is looking to acquire a 5% stake… Read More ›
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