At a time when high-roller VIP punters are backing off, Casinos in Macau face a growing volume of bad debt provisions, further hitting earnings in the world’s largest gambling hub. The operators in the southern Chinese territory have been prompted… Read More ›
FIH Mobile, a subsidiary of Foxconn, is buying the feature phone business from Microsoft for $350 million. According to the deal, Microsoft would hand over the rights to use the Nokia brand, feature phone software, services, and other contracts and… Read More ›
A white elephant in the making, unlikely to attract tenants and possibly never even to be completed, the plan to build a financial district from scratch was viewed by Saudi Arabia’s neighbors as among the glossiest excesses of the kingdom’s… Read More ›
Having taken hits recently, two key components of Elon Musk’s empire are under pressure which some analysts believe, won’t see relief in sight anytime soon. Share prices have fallen for Musk’s co-founded companies – SolarCity and Tesla Motors. Despite a… Read More ›
Hackers are relying on the vulnerabilities in SWIFT’s messaging systems to hide their digital footprints. A second bank has been compromised due to these vulnerabilities. In the wake of Bangladesh’s central bank being hacked due to hackers exploiting vulnerabilities in… Read More ›
With the aim to “encourage more businesses to switch to hydrogen-fuelled vehicles”, the U.K. government has launched a £2 million ($2.89 million) fund to provide subsidies. Private businesses, as well as organizations such as police forces and health trusts would… Read More ›
Soccer club Tottenham Hotspur has taken home an unlikely consolation prize even though it narrowly missed out on clinching the English Premier League (EPL) title,. The area surrounding Spurs’ home stadium, White Hart Lane in north London, recorded the greatest… Read More ›
Demanding that the veil of secrecy that surrounds tax havens be lifted, world leaders at a London summit this week would be urged to recognize that there is no economic benefit to tax havens by more than 300 economists, including… Read More ›
In order to rein in costs Sprint has vowed to cut expenses by $2 billion for 2016-2017. Facing widening losses, and having added fewer subscribers than it initially expected, Sprint Corp has vowed to cut more than $2 billion in… Read More ›
A request that has met with substantial opposition, shareholder Qatar has asked Volkswagen for a seat on the company’s executive committee as they are frustrated with the pace of reform at Volkswagen, reported Reuters quoting two sources familiar with the… Read More ›
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