Amazon (AMZN.O) founder and executive chair Jeff Bezos is set to sell nearly $5 billion worth of shares in the e-commerce giant, according to a regulatory filing, following the stock reaching a record high. The planned sale of 25 million shares was revealed in a notice filed after market hours on Tuesday. During the session, …
The European Union is preparing to levy customs duties on inexpensive goods purchased from Chinese online retailers like Temu, Shein, and AliExpress, according to a report by the Financial Times citing sources familiar with the matter. The European Commission is expected to propose eliminating the current 150 euros ($161) threshold for duty-free imports later this …
Nokia announces $2.3 billion acquisition of Infinera Corp (INFN.O) to bolster its optical network business, particularly in North America. The deal includes paying $6.65 per share, a 26.4% premium over Infinera’s Thursday closing price of $5.26, with at least 70% of the payment in cash. Shareholders of Infinera have the option to receive up to …
Nokia plans $2.3 billion acquisition of Infinera to expand optical network capabilities. Read More »
India’s second-largest IT services exporter, Infosys (INFY.NS), announced that CEO Salil Parekh has resolved allegations of insider trading violations, according to the country’s markets regulator on Thursday. Parekh has agreed to pay a fine of 2.5 million rupees (approximately $30,000) for inadequate controls to prevent insider trading, the Securities and Exchange Board of India reported.
South Korea’s exports likely increased for the ninth consecutive month in June, mainly due to semiconductor sales to the U.S., though the growth rate probably slowed because of calendar effects, a Reuters poll indicated on Thursday. Exports from Asia’s fourth-largest economy are estimated to have risen by 6.3% in June compared to the previous year, …
Toyota’s (7203.T) global production decreased for the fourth consecutive month in May compared to the previous year, primarily due to reduced output in several overseas markets. The decline was particularly pronounced in China, where local brands have become increasingly competitive. In May, production dropped by 4% to 812,191 vehicles, with a 22% decrease in China. …
Toyota’s Global Output Declines in May, Notably in China Read More »
China’s ride-sharing app operator Dida has set the price of its shares at HK$6 each, aiming to raise US$30 million in its Hong Kong initial public offering, according to two sources with direct knowledge of the matter on Wednesday. The sources requested anonymity to discuss confidential information. According to a regulatory filing, the Beijing-based company …
Paramount Global (PARA.O) announced it will increase subscription rates for its flagship streaming services, citing a need to restructure its operations and manage debt. Talks of a potential sale of Redstone’s controlling stake to Skydance Media have reportedly collapsed. Starting August 20, new users of the Paramount+ with Showtime plan will see a $1 monthly …
Paramount Global plans to increase prices for its streaming subscriptions. Read More »
AT&T CEO John Stankey stated on Monday that Congress should empower the Federal Communications Commission to mandate contributions from Big Tech companies to a government fund that subsidizes telecom and broadband services. Currently, fees are imposed on cell phone and landline service subscribers to support the Universal Service Fund, which spends about $8 billion annually, …
AT&T is calling on Big Tech companies to help fund telecom and broadband subsidies. Read More »
China’s Premier Li Qiang used his address at a World Economic Forum meeting in Dalian to respond to accusations from the U.S. and EU that Chinese companies benefit from unfair subsidies and are set to flood their markets with inexpensive green technologies. Li’s remarks come as China and the European Union prepare for technical talks …
China responds to Western claims of overcapacity in EVs and lithium batteries Read More »
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