Wednesday, 30 September 2020

Business

Tesla reportedly working on new Smartwatch with Xplora

LONDON: A recent FCC filing has revealed that Tesla Motors is apparently working to develop a new smartwatch. But the main question that arises here is why? The Elon Musk owned brand is known for its automobiles, although, it seems like it now also diversifying to include IoT products as ...

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Roche ‘disappointed’ with trial results for colitis drug

ZURICH: Roche Holding’s experimental drug etrolizumab did not fare well in late-stage clinical trials in treating people with moderate to severe ulcerative colitis, the Swiss drugmaker said. “Mixed results were seen in studies evaluating etrolizumab as an induction therapy, and both studies evaluating etrolizumab as a maintenance therapy failed to ...

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U.S. businesses in China face uncertainty after WeChat bans

HONG KONG: As Tencent assesses how its business might be impacted by a U.S. decision to ban its messenger app WeChat in the country, American companies in China may become unintended casualties due to their heavy reliance on the app, experts said. U.S. President Donald Trump unveiled sweeping bans on ...

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US signs $1 billion vaccine deal with Johnson & Johnson

WASHINGTON: The US government announced a new $1 billion investment in a COVID-19 vaccine being developed by Johnson & Johnson, guaranteeing 100 million doses. J&J, via its subsidiary Janssen, had already received $456 million in March. The new money will allow the company to ramp up production so that doses ...

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TikTok working on the new data center in Ireland

LONDON: TikTok said they are already working on the new Irish data center even before President Trump hinted about banning the app in the U.S. “It’s a significant investment,” TikTok Public Policy for Europe director Theo Bertram told the BBC, adding that the construction is a symbol of the company’s long-term ...

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European stocks rise, gold hits record awaiting US stimulus talks

BRUSSELS: European stock markets climbed solidly Wednesday after a mixed Asian showing, with traders tracking talks on a key US stimulus package that fuelled another record-high finish on Wall Street. Approaching midday, London’s benchmark FTSE 100 index was up 1.0 per cent, helped also by strong rebounds for the UK ...

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Chinese artificial intelligence company files $1.4 billion lawsuit against Apple

SHANGHAI: Chinese artificial intelligence company Shanghai Zhizhen Intelligent Network Technology Co., also known as Xiao-i, has filed a lawsuit against Apple, alleging it has infringed on its patents. The company is calling for $1.43 billion in damages and demands that Apple cease “manufacturing, using, promising to sell, selling, and importing” ...

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Pharma giant Sanofi charged with fraud

PARIS: French prosecutors have indicted pharma giant Sanofi for manslaughter over birth defects linked to an epilepsy drug, the company said Monday, in a long-running case that has also seen it charged with fraud. The charges relate to the drug valproate, marketed as Depakine among other trade names, which studies ...

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Amazon to invest $10 bn in space-based internet system

WASHINGTON: Amazon says it will invest $10 billion for its planned space-based internet delivery system after winning US regulatory approval to deploy more than 3,000 low-orbit satellites. The US tech giant said on Thursday it is moving forward with its Project Kuiper, one of several systems planned to bring internet ...

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Bitcoin price reaches $12,000

LONDON: Bitcoin was at $11,918 on Sunday, according to Coin Market Cap data. At the Binance cryptocurrency exchange trading platform its value was increasing by 5.41 percent, up to $11,980. In the course of Sunday trading, the Bitcoin price reached the $12,000 mark for the first time since 9 August ...

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