Business & Finance News
China’s state-owned automaker FAW Group said it signed a deal with 16 banks for a credit line worth over 1 trillion yuan ($144 billion), but did not give specific reasons as to why it wanted to secure access to such a large amount of funding.
Hyundai Motor posted a 68 percent plunge in quarterly net profit, missing an analyst consensus by a large margin, as U.S. recall costs weighed. Third-quarter net profit came in at 269 billion won ($236.14 million), compared with 852 billion won booked in the same period a year earlier.
Shares of Cathay Pacific Airways Ltd slid nearly 7 percent to a nine-year low on Thursday after it said data of about 9.4 million passengers of Cathay and its unit, Hong Kong Dragon Airlines Ltd, had been accessed without authorization.
Asian shares dived on Thursday as hundreds of billions of dollars hemorrhaged from global markets after a rout in tech stocks inflicted the largest daily decline on Wall Street since 2011, wiping out all its gains for the year.
Shares of Cathay Pacific Airways Ltd dropped more than 6 percent on Thursday to a nine-year low after it said data of about 9.4 million passengers of Cathay and its unit, Hong Kong Dragon Airlines Ltd, had been accessed without authorization.
Shares of Cathay Pacific Airways Ltd were set to fall 2.5 percent on Thursday after the airline said data of about 9.4 million passengers of Cathay and its unit, Hong Kong Dragon Airlines Ltd, had been accessed without authorization.
Hong Kong’s privacy commission on Thursday expressed serious concern over a data breach at Cathay Pacific Airways and urged the airline to notify passengers affected by the leak as soon as possible and explain the details.
Asian shares dived on Thursday as hundreds of billions of dollars hemorrhaged from global markets after a rout in tech stocks inflicted the largest daily decline on Wall Street since 2011, wiping out all its gains for the year.
Broadcom Inc is facing antitrust scrutiny from the European Union over the possible use of its market dominance to pressure customers to buy its semiconductors, Bloomberg reported on Wednesday.
Microsoft Corp beat Wall Street estimates for revenue and profit in its first quarter on Wednesday, as more businesses signed up for its Azure cloud computing services and Office 365 software.
Advanced Micro Devices Inc on Wednesday forecast fourth-quarter revenue below estimates as the chipmaker faces dwindling demand from cryptocurrency miners for its high-margin graphic processors and excess inventory, sending its shares down 22 percent.
Chevron Corp has settled claims by the U.S. government and the state of Mississippi that it violated provisions of the Clean Air Act and will spend approximately $162 million as part of the settlement, the U.S. Justice Department said on Wednesday.
Verizon Communications Inc said on Wednesday it will spend $25 million to update its network in Florida’s Panhandle, an area hard-hit by service outages after Hurricane Michael.
Asian share markets face a rough ride on Thursday after a tumble in technology stocks inflicted the largest daily decline on Wall Street since 2011, wiping out all its gains for the year.
Top Bank of America Corp executives, including Chief Executive Officer Brian Moynihan, made a surprise appearance at a gathering of the bank’s senior dealmakers on Tuesday in an effort to boost morale, two people familiar with the matter told Reuters.
Copyright 1997-2019 Wall Street Reporter / Octagon Media Corp.
