BEIJING (Reuters) – Chinese e-commerce giant Pinduoduo plans to launch a cross-border e-commerce platform next month which will target the United States as its first market, a source with direct knowledge of the matter said. The company, a rival of Alibaba Group and JD.com in China, has briefed its merchants but details have not yet…
By Stephen Nellis (Reuters) – A former Apple Inc engineer on Monday pleaded guilty to trade secret theft – one of two people accused of stealing trade secrets from the iPhone maker’s nascent self-driving car program. U.S. federal prosecutors have alleged that Xiaolang Zhang downloaded the plan for a circuit board for Apple’s self-driving after…
By Rozanna Latiff KUALA LUMPUR (Reuters) – Former Malaysian prime minister Najib Razak arrived at the country’s top court on Tuesday for the final leg of his appeal to set aside his corruption conviction and 12-year jail sentence over a case linked to the 1MDB financial scandal. The Federal Court could potentially deliver its verdict…
TOKYO (Reuters) – Shares of Japan’s Hino Motors, Toyota Motor Corp’s truck and bus unit, were down more than 4% and the top loser on the Nikkei index on Tuesday, after its engine-related misconduct widened to small trucks. Hino President Satoshi Ogiso said on Monday that during a transport ministry investigation additional misconduct regarding emissions…
SEOUL (Reuters) – South Korean consumers’ inflation expectations fell in August after six months of rises, a central bank survey showed on Tuesday, while their assessment of economic conditions improved. The median of inflation expectations for the next 12 months fell to 4.3% in August from 4.7% in July, which was the highest since the…
(Reuters) -Zoom Video Communications Inc on Monday cut its annual profit and revenue forecasts as demand for the video-conferencing platform cools off from pandemic highs amid stiff competition from Microsoft Teams and Cisco WebEx. Shares of the pandemic darling fell 7% in extended trade after it reported its slowest quarterly revenue growth on record at…
HOUSTON (Reuters) -A U.S. court upheld a tribunal’s $8.75 billion award to U.S. oil producer ConocoPhillips over the expropriation of its Venezuelan oil assets, granting a default judgment in the case on Friday. The decision gives the U.S. company new authority to collect on a 2019 award by a World Bank tribunal. The award includes…
By Herbert Lash and Lawrence White NEW YORK/LONDON (Reuters) -U.S. and European shares tanked and the dollar surged on Monday as fears mounted that central bank efforts to tame rising consumer prices with inflation-busting interest-rate hikes will weaken the global economy and lead to a recession. The three major Wall Street indexes plunged about 2%…
A federal judge on Monday rejected a request by Ben & Jerry’s to block a plan by its corporate parent to allow its products to be sold in east Jerusalem and the occupied West Bank against the wishes of the Vermont ice cream maker’s independent board of directors. U.S. District Court Judge Andrew Carter said…
OMAHA, Neb. (AP) — Warren Buffett’s company has received clearance to boost its 20% stake in Occidental Petroleum to as much as 50%, but it’s not immediately clear how many more shares Berkshire Hathaway plans to buy or whether it will consider buying the entire company. Shares of the of the oil producer soared nearly…
