SINGAPORE (Reuters) – DBS Group has agreed to buy Citigroup’s consumer business in Taiwan in a move that will see the Singapore-based bank pay S$956 million ($706.6 million) above the net asset value, making it Taiwan’s largest foreign bank by assets. DBS, Southeast Asia’s biggest lender, said in a statement on Friday that it will…
By Danielle Kaye NEW YORK (Reuters) – Apple Inc teased its metaverse ambitions on Thursday as CEO Tim Cook talked expansion of the company’s augmented reality apps, prompting strong investor response. The company has 14,000 AR apps on its App Store, and Cook suggested this number will rise with further investment. “We see a lot…
OMAHA, Neb. (AP) — The Alden Global Capital hedge fund is sending its own appeal to shareholders of newspaper publisher Lee Enterprises as part of its campaign to acquire the company. The New York-based hedge fund, which is already one of the nation’s largest newspaper owners, urged Lee shareholders Thursday to support two new directors…
By Danielle Kaye, Paresh Dave and Nivedita Balu (Reuters) -Apple Inc is overcoming the costly global shortage in computer chips, posting record sales over the holiday quarter, beating profit estimates and forecasting that its shortfall is narrowing. The iPhone maker, which is world’s largest company by market capitalization, has handled supply-chain challenges such as factory…
By Nick Carey BLYTH, England (Reuters) – Britishvolt said on Friday it will develop batteries for a fully-electric sports car in partnership with British carmaker Lotus, the first publicly-announced customer for the electric vehicle (EV) battery startup. Britishvolt said the research and development that will go into developing battery cells for a high-performance sports car…
The Home Depot on Thursday named a veteran executive as its new CEO. Edward “Ted” Decker, who has served as Home Depot’s chief operating officer since October 2020, will become president and CEO on March 1. Current Chairman and CEO Craig Menear will continue to serve as the company’s board chairman. Decker, 58, joined Atlanta-based…
NEW YORK (AP) — Visa’s fiscal first-quarter profits rose 27%, as improving economies worldwide, as well as more people using digital payments, helped lift the company’s fortunes. The San Francisco-based company said Thursday that it earned $3.96 billion, or $1.81 a share, in the final three months of 2021, up from a profit of $3.13…
SAN RAMON, Calif. (AP) — Apple shook off supply shortages that have curtailed production of iPhones and other popular devices to deliver its most profitable holiday season yet. The results posted Thursday for the final three months of 2021 help illustrate why Apple is looking even stronger at the tail end of the pandemic than…
By Hannah Lang and Mehnaz Yasmin (Reuters) -Commission-free brokerage Robinhood Markets Inc on Thursday posted a $423 million net loss in the latest quarter, and its shares tumbled as much as 15% in after-hours trade even as revenue edged past analysts’ estimates. Robinhood reported a net loss of $423 million or $0.49 per share in…
By David Shepardson and Diane Bartz WASHINGTON (Reuters) – The U.S. Federal Communications Commission (FCC) on Thursday voted to revoke the authorization for China Unicom’s U.S. unit to operate in the United States, citing national security concerns. The 4-0 vote to revoke the authority that had been granted in 2002 is the latest move by…
