NEW YORK (AP) — The cryptocurrency exchange Binance said it plans to buy its rival FTX Trading, in the latest example of how fortunes can change rapidly in the crypto world. Binance CEO Changpeng Zhao said on Twitter Tuesday that his company had signed a letter of intent to buy FTX because the smaller exchange…
BRUSSELS (AP) — The European Union has launched an investigation into Microsoft’s planned takeover of video game giant Activision Blizzard, fearing the $69 billion deal would distort fair competition to popular titles like Call of Duty. Microsoft, maker of the Xbox gaming system, first announced the agreement to buy the California-based game publisher in January,…
BERLIN (AP) — The German government may decide this week to block the sale of a chip factory to a Swedish subsidiary of a Chinese company, following a recent compromise over a Chinese shipping firm’s investment in a German container terminal. German company Elmos said late Monday that it was informed by the Economy Ministry…
NEW YORK (AP) — Michelle Gass, CEO of department store chain Kohl’s, is stepping down from her role early next month and will become the president of denim giant Levi Strauss & Co. Levi’s said Tuesday in a release that Gass will start on Jan. 2, and the board of directors has put in motion…
BERLIN (AP) — Adidas has appointed Bjørn Gulden, the CEO of rival Puma, as its new chief executive, and he will take over the German sportswear brand in January as the company weathers the fallout from its split with the rapper formerly known as Kanye West. Gulden will replace Kasper Rorsted, Adidas’ CEO since 2016,…
SAN JOSE, Calif. (AP) — A federal judge rejected a bid for a new trial for disgraced Theranos CEO Elizabeth Holmes after concluding a key prosecution witness’s recent remorseful attempt to contact her wasn’t enough to award her another chance to avoid a potential prison sentence for defrauding investors at her blood-testing company. The ruling…
TOKYO (AP) — Repayment of the more than 10 trillion yen ($68 billion) government funding for cleanup and compensation for the Fukushima Daiichi nuclear plant disaster has been delayed, the Japanese government says. The Board of Audit said in a report released Monday that the delay stems from technical difficulties and Tokyo Electric Power Co….
DUBAI, United Arab Emirates (AP) — Long-hauled carrier Emirates is buying five Boeing 777 freighters in a deal valued at more than $1.7 billion, further expanding its cargo flight capacity, the two companies announced Tuesday. Emirates previously announced a $1 billion investment to its cargo flights, including buying two new Boeing 777s and converting 10…
BANGKOK (AP) — Asian shares were mixed on Wednesday as investors awaited the outcome of the U.S. midterm elections and a major inflation update due later in the week. Tokyo’s Nikkei 225 index slipped 0.2% and the Hang Seng in Hong Kong also shed 0.2%, to 16,517.04. The Shanghai Composite index edged 0.1% higher to…
BEIJING (AP) — Renault SA and China’s Geely announced plans Tuesday for a jointly owned venture to produce gasoline-powered and hybrid powertrains, adding to a series of partnerships between global automakers to share soaring technology costs. The venture will have 17 plants with annual production capacity of 5 million powertrains, five research and development centers…
