Washington accuses Huawei of racketeering
U.S. prosecutors have accused Huawei of racketeering, planning to steal trade secrets and assisting Iran. Karen Freifeld reported the news for Reuters: U.S. prosecutors on Thursday accused Huawei of stealing trade secrets and helping Iran track protesters in its latest indictment against the Chinese company, escalating the U.S. battle with the world’s largest telecommunications equipment […]
Google buys big data analytics firm for $2.6 bln
Google has finalized the acquisition of UK big data analytics firm Looker for $2.6 billion. Shashwat Awasthi and Yadarisa Shabong had the news for Reuters: Alphabet Inc-owned Google (GOOGL.O) said on Thursday it has completed its $2.6 billion buyout of privately held big-data analytics firm Looker Data Sciences after winning clearance from Britain’s competition watchdog. […]
Judge Approves Sprint-T-Mobile merger
A federal judge has approved the proposed merger between T-Mobile and Sprint. Arriana McLymore and Diane Bartz had the news for Reuters: T-Mobile US Inc edged closer to a takeover of Sprint Corp after a federal judge on Tuesday approved the deal, rejecting a claim by a group of states that said the proposed transaction […]
Simon Property Group buys fellow mall operator Taubman Realty
Mall operator Simon Property Group has agreed to buy peer Taubman Realty for $3.6 billion. Michelle Chapman and Anne D’Innocenzio had the news for the AP: As mall-based retailers struggle to compete with the onslaught from online shopping, the companies that own and manage the malls are finding their own business models severely challenged. For […]
Uber posts $1.1 bln loss for fourth quarter
Uber reported a loss of $1.1 billion for the fourth quarter of 2019. Cathy Bussewitz had the news for the AP: Uber is still losing money as it expands its food delivery business and develops technology for driverless cars. But revenue for its rides business nearly tripled in the final three months of last year […]
Huawei launches patent infringement suit against Verizon
Huawei has filed a lawsuit alleging patent infringement by Verizon. David Kirton reported the news for Reuters: China’s Huawei Technologies Co Ltd has launched legal action against Verizon Communications Inc (VZ.N), alleging the U.S. carrier used 12 of its patents without authorization. The telecommunications equipment maker is seeking compensation for the use of its technology […]
IBM’s Ginni Rommetty to step down from CEO post
IBM’s first female chief executive Ginni Rommetty will step down in April. CNBC’s Jordan Novet reported the news: IBM shares jumped as much as 5% on Thursday after the company said Arvind Krishna is becoming its 10th CEO, replacing Virginia “Ginni” Rometty. The change is effective on April 6, according to a statement. Jim Whitehurst, […]
Tesla beats forecasts with second quarterly profit for 2019
Tesla reported its a second profitable quarter for 2019, beating analyst forecasts. Lora Kolodny had the news for CNBC: Tesla has reported fourth-quarter results, and it’s a beat on earnings. The stock spiked as much as 13% on the news after hours. Here’s how the company did versus expectations: Earnings: $2.14 adjusted vs. $1.72 per […]
Apple reports forecast-beating Q4 results
Improved sales of iPhones pushed Apple’s fourth-quarter financial results above expectations. Kif Leswing reported the news for CNBC: Apple reported revenue and profit significantly higher than what Wall Street analysts expected and spiked as much as 3% before settling down up around 1% in after-hours trading. Apple’s revenue was up 9% to $91.8 billion, which […]
Ford in million-dollar settlement over transmission suit
Ford has reportedly agreed to settle a class action suit over faulty transmissions in Focus and Fiesta models. Phoebe Wall Howard reported the news for the Detroit Free Press Ford Motor Co. has agreed to settle a class-action lawsuit with nearly 2 million owners and former owners of Focus and Fiesta vehicles with bad dual-clutch […]
