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US appeals court reinstates verdict asking Teva to pay $235.5 million to GSK

Oct 03, 2020 00:00 am UTC| Business

The U.S. Federal Circuit Court of Appeals in Washington, D.C. reinstated a 2017 jury verdict ordering Teva Pharmaceutical Industries Ltd to pay $235.5 million to GlaxoSmithKline Plc for selling a generic version of a heart...

UK ferry operator P&O to scrap route to Belgium due to COVID impact

Oct 02, 2020 23:54 pm UTC| Business

PO Ferries will scrap its loss-making route between Hull and Zeebrugge, Belgium due to a coronavirus-induced sharp drop in demand. The ferry operator said it had to take difficult action due to the extended impact of...

Hyundai's US retail sales surge 7% in Q3

Oct 02, 2020 23:32 pm UTC| Business

Hyundai Motor Co. sold 161,354 units in the US via retail in the third quarter, up 7 percent from the same period last year due to rising demand for its sport utility vehicles. According to Randy Parker, vice president...

Too much sugar keeps Subway's rolls from being classified as bread in Ireland

Oct 02, 2020 00:00 am UTC| Business

Irelands Supreme Court ruled that the rolls that Subway uses in its hot sandwiches contain too much sugar to be considered as bread and entitled to zero VAT charges. The court concluded that the sugar content is around...

H&M to close 250 stores as it accelerates digital investment

Oct 01, 2020 23:57 pm UTC| Business

Swedens HM, the worlds second-biggest fashion retailer, plans to cut 250 of its stores 5,000 stores beginning next year as it accelerates plans to increase digital investment. The Stockholm-based firm said it would also...

Burger King hopes to crown itself with a Michelin star

Oct 01, 2020 23:51 pm UTC| Business

Burger King has launched a petition demanding a Michelin star for its new Master Angus burger, which elicited a response on Facebook from the Michelin Guides social media team. In its reply to the post by Burger King...

US makes it illegal to facilitate ransomware payments

Oct 01, 2020 23:42 pm UTC| Business

The US Treasury has started a crackdown on consultants who help organizations to facilitate ransomware payments by making the practice illegal. The Treasurys Office of Foreign Assets Control and its Financial Crimes...

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Economy

European Stocks Slide as Trump Tariff Threats Rekindle Trade Tensions

European shares fell sharply on Monday as fresh tariff threats from U.S. President Donald Trump rattled global markets, reigniting trade tensions and casting uncertainty over previously reached agreements. The renewed...

Trump Escalates Greenland Rhetoric, Citing Russia Threat and Pressure on Denmark

U.S. President Donald Trump intensified tensions with Europe on Sunday after claiming that Denmark has failed to counter what he described as a growing Russian threat to Greenland, adding that the United States would move...

Asian Currencies Steady as China Growth Lifts Yuan Amid U.S. Tariff Concerns

Most Asian currencies traded largely unchanged on Monday as markets adopted a cautious, risk-off stance following renewed U.S. tariff threats against Europe, even as slightly stronger-than-expected economic data from China...

Asian Stock Markets Slide as Trump’s Greenland Tariff Threat Shakes Global Sentiment

Asian stock markets mostly declined on Monday as renewed trade tariff threats from U.S. President Donald Trump reignited global risk aversion. Investor sentiment weakened after Trump announced potential tariffs of up to...

China Economic Growth Slows in Q4 as Domestic Demand Weakens Despite Meeting 2025 Target

Chinas economic growth slowed to a three-year low in the fourth quarter, highlighting mounting pressure on the worlds second-largest economy as weak domestic demand, a prolonged property downturn, and structural imbalances...

Politics

Trump Criticizes NYSE Texas Expansion, Calls Dallas Exchange a Blow to New York

U.S. President Donald Trump has sharply criticized the establishment of a Dallas-based stock exchange branded as a New York Stock Exchange, calling the move unbelievably bad for New York and warning that it represents a...

CBS News to Air Delayed 60 Minutes Report on El Salvador’s CECOT Mega-Prison

CBS News is set to air a previously postponed 60 Minutes investigation on Sunday night, focusing on El Salvadors controversial CECOT mega-prison and the treatment of migrants deported from the United States. The report,...

Vietnam Communist Party Congress to Shape Leadership and Economic Strategy

Hundreds of delegates from Vietnams ruling Communist Party are gathering in Hanoi under tight security for a pivotal week-long congress that will determine the countrys top leadership and set economic and security...

Iran Warns of Harsh Response to Possible U.S. Strike Amid Deadly Nationwide Protests

Irans president has warned that any U.S. military strike against the country would trigger a harsh and regrettable response, as Iran faces mounting international scrutiny over its deadliest wave of protests in decades. The...

Japan Snap Election Fuels Debate Over Consumption Tax Cut Amid Rising Living Costs

Japans expected snap general election is intensifying debate over a possible cut to the consumption tax, as both ruling and opposition parties signal support for easing the burden on households facing rising living costs....

Science

NASA and SpaceX Target Crew-11 Undocking From ISS Amid Medical Concern

NASA has confirmed that the agency, in coordination with SpaceX, is targeting no earlier than 5 p.m. Eastern Time (2200 GMT) on Wednesday, January 14, for the undocking of the SpaceX Crew-11 mission from the International...

Neuralink Plans High-Volume Brain Implant Production and Fully Automated Surgery by 2026

Elon Musks brain-computer interface company Neuralink is preparing for a major expansion, announcing plans to begin high-volume production of its brain implant devices and transition to a fully automated surgical procedure...

Jared Isaacman Confirmed as NASA Administrator, Becomes 15th Leader of U.S. Space Agency

The U.S. Senate has officially confirmed billionaire private astronaut Jared Isaacman as the new NASA administrator, making him the 15th leader in the agencys history. The confirmation, which took place on Wednesday, marks...

Senate Sets December 8 Vote on Trump’s NASA Nominee Jared Isaacman

The U.S. Senate Commerce Committee announced it will vote on December 8 on President Donald Trumps renewed nomination of private astronaut and tech entrepreneur Jared Isaacman to lead NASA. Isaacman, known for his...

NASA Cuts Boeing Starliner Missions as SpaceX Pulls Ahead

NASA has significantly scaled back Boeings Starliner program after years of technical issues and delays, announcing that the next Starliner mission to the International Space Station (ISS) will fly without astronauts. The...

Technology

Micron to Buy Powerchip Fab for $1.8 Billion, Shares Surge Nearly 10%

Shares of Taiwans Powerchip Semiconductor Manufacturing Corp jumped nearly 10% on Monday following news that U.S. memory chip giant Micron Technology plans to acquire one of Powerchips fabrication facilities in Taiwan,...

Tesla Revives Dojo Supercomputer Project With AI5 Chip at the Core

Tesla Inc (NASDAQ: TSLA) is set to restart development of its next-generation supercomputer, Dojo3, marking a renewed push into artificial intelligence infrastructure. Tesla CEO Elon Musk confirmed on Sunday that work on...

South Korea Seeks Favorable U.S. Tariff Terms on Memory Chip Imports

South Korea is moving to secure favorable treatment from the United States on tariffs affecting memory chip imports, following recent trade actions announced by the U.S. government. A spokesperson from South Koreas...

South Korea Sees Limited Impact From New U.S. Tariffs on Advanced AI Chips

South Koreas trade minister said a newly announced U.S. tariff on certain advanced computing chips is expected to have only a limited short-term impact on South Korean companies, while cautioning that future measures could...

Elon Musk Seeks $134 Billion in Lawsuit Against OpenAI and Microsoft Over Alleged Wrongful Gains

Elon Musk has escalated his legal battle against OpenAI and Microsoft, seeking up to $134 billion in damages over what he claims are wrongful gains stemming from his early involvement in the artificial intelligence...

Digital Currency

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