LONDON (AP) — Chipmaker Intel scored a decisive legal victory Wednesday in a long-running battle against European Union competition watchdogs after a court reversed itself and threw out a billion euro antitrust fine issued more than a decade ago. The EU’s General Court annuled the 1.06 billion euro fine ($1.43 billion at current exchange rates)…
(Reuters) -Microsoft will begin offering more information to customers about how it automatically renews Xbox online gaming subscriptions in Britain, the UK’s competition watchdog said on Wednesday. The Competition and Markets Authority (CMA) said it had secured undertakings from the U.S. tech giant to inform customers upfront about auto-renewals for Xbox Live Gold and Game…
BEIJING (Reuters) -Apple Inc achieved its highest-ever market share in China in the fourth quarter, when it was the top-selling vendor there for the first time in six years, research firm Counterpoint Research reported on Wednesday. The milestone coincided with the release of the iPhone 13, and amid otherwise stagnant demand for handsets as chief…
By Joyce Lee and Heekyong Yang SEOUL (Reuters) – South Korea’s LG Display Co Ltd on Wednesday reported a 30% drop in quarterly operating profit as a one-off cost related to profit-sharing plan and lower TV panel prices offset solid shipments of smaller screens for computers, laptops and smartphones. The Apple Inc supplier posted an…
BERLIN (AP) — The German government on Wednesday cut its growth forecast for this year, but said that Europe’s biggest economy remains “robust” and will return to its pre-pandemic size in 2022. The Economy Ministry predicted that gross domestic product will grow by 3.6%, down from the 4.1% Germany’s previous government forecast in late October….
By Foo Yun Chee (Reuters) – Intel on Wednesday won its appeal against a 1.06-billion-euro ($1.2 billion) EU antitrust fine handed down to the U.S. chipmaker twelve years ago for stifling a rival, in a major setback for EU antitrust regulators. The European Commission penalised Intel in 2009 for trying to block rival Advanced Micro…
By Susan Mathew (Reuters) – U.S. stock futures rose on Wednesday, with a surge in Microsoft lifting Nasdaq 100 futures, while investors keenly awaited the Federal Reserve’s monetary policy decision later in the day. The move comes after two days of wild swings, driven by uncertainty about the Fed’s next move and rising worries about…
By Anna Ringstrom STOCKHOLM (Reuters) -Hygiene products group Essity reported a bigger-than-expected drop in fourth-quarter profit on Wednesday and said it planned to further hike prices in the face of record high costs for raw material, energy and distribution. Operating profit at the world’s second-biggest maker of consumer tissue fell 34% from a year earlier…
BEIJING (AP) — Asian stock markets tumbled by unusually wide margins Thursday after the Federal Reserve indicated it plans to start raising interest rates soon to cool inflation. Market benchmarks in Tokyo and Hong Kong fell by more than 2%. Seoul and Sydney sank nearly 3%. Wall Street’s benchmark S&P 500 index lost 0.1% on…
HONG KONG (Reuters) -China Evergrande Group and its financial advisers will hold a call with investors at 9 pm (1300 GMT) on Wednesday, sources said, the first such call since it defaulted on some dollar bond payments last month. Evergrande, once China’s top selling real estate developer, has more than $300 billion in liabilities, including…
