Wednesday, 20 November 2019

Business

OPEC chief visits Iran as US sanctions waivers expire

TEHRAN: OPEC Secretary-General Mohammed Barkindo visited Tehran for an oil and gas expo just hours before sanctions waivers the US granted to Iran’s biggest oil customers were set to expire. The OPEC chief visit came as China, Turkey and Iraq said that they cannot abide by the unilateral US sanctions and ...

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Adidas profits beat expectations as eCommerce booms

BERLIN: Adidas reported a 17 percent rise in first quarter net profit on Friday, helped by high-margin eCcommerce, even as overall sales growth slowed due to supply chain issues in the North American market, as well as a decline in Europe. Adidas shares, which have risen by a quarter this ...

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Ericsson launches AI lab in Canada

MONTREAL: Swedish telecoms giant Ericsson announced the launch of its “global artificial intelligence accelerator” in Montreal, where other tech heavyweights like Google, Facebook and Microsoft have invested in AI research and development. The specialized lab will focus on “using AI and automation technologies to create data-driven, intelligent products and services” ...

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Tesla sued over California ‘Autopilot’ death

NEW YORK: The family of a California man killed in a Tesla has filed a wrongful death lawsuit against the company, blaming Tesla’s self-driving technology as “defective,” attorneys said Wednesday. The lawsuit, filed on April 26 in California Superior Court, asserts that the March 2018 death of Walter Huang resulted ...

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Royal Dutch Shell beats profit expectations

LONDON: Royal Dutch Shell reported on Thursday a small drop in first quarter profit to $5.4 billion, but still easily beat forecasts, helped by stronger trading and liquefied natural gas earnings. Shell’s results outshone those of rivals Exxon Mobil, Chevron and BP which all saw sharp declines in profits in ...

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EU fine on Google weighs on parent Alphabet profits

SAN FRANCISCO: Google parent Alphabet reported that profit in the first three months of this year sagged under the weight of a hefty antitrust fine in the European Union. Alphabet said that profit in the first-quarter fell 29 percent to $6.7 billion on revenue that climbed 17 percent to $36.3 ...

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Virgin Australia to defer deliveries of Boeing 737 MAX aircraft

SYDNEY: Virgin Australia Holdings said on Tuesday it had reached an agreement with Boeing to delay deliveries of the US planemaker’s now contentious 737 MAX aircraft. Last month, Australia’s civil aviation safety authority suspended Boeing’s 737 MAX aircraft from flying to or from Australia, following fatal crashes involving Boeing’s latest ...

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Apple cracks down on 3rd-party parental control apps

LONDON: Apple has always believed that parents should have tools to manage their children’s device usage. It’s the reason they created, and continue to develop, Screen Time. Other apps in the App Store, including Balance Screen Time by Moment Health and Verizon Smart Family, give parents the power to balance ...

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Microsoft tops $1 trillion as it predicts more cloud growth

NEW YORK: Microsoft Corp briefly topped $1 trillion (774 billion pounds) in value for the first time after executives predicted continued growth for its cloud computing business. The Redmond, Washington-based company beat Wall Street estimates for quarterly profit and revenue, powered by an unexpected boost in Windows revenue and brisk ...

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