Business & Finance News
EU antitrust regulators are asking retailers and manufacturers whether Amazon’s sales of own brand products similar to theirs have harmed their business, a move which could lead to a formal case and possibly fines against the U.S. tech giant.
A U.S. trade judge on Friday declined to block the importation of Apple Inc iPhones with chips from Intel Corp , handing a major defeat to Qualcomm Inc in its high-stakes legal dispute with the iPhone maker.
Credit Suisse Group AG has agreed to pay $10 million to settle U.S. charges related to its handling of customer orders and alleged fraudulent electronic trading practices.
Shares of Tesla Inc plunged 13 percent on Friday after U.S. securities regulators accused Elon Musk of fraud and sued to have him banned from the leadership of the electric carmaker, although sources said the high-tech billionaire could still reach a settlement.
The cost to insure debt holdings in electric carmaker Tesla Inc rose to its highest-ever level on Friday as the bond market reflected growing worries about a default, following the news that Chief Executive Elon Musk had been accused of fraud by federal regulators.
Facebook Inc has discovered a security flaw affecting about 50 million user accounts which could have allowed attackers to take over those accounts, the social networking company said on Friday.
U.S. stocks were little changed on Friday afternoon as a drop in Facebook after it disclosed a security breach pulled Wall Street off the highs following a boost from Intel and energy companies.
Google Chief Executive Sundar Pichai has agreed to testify before the U.S. House Judiciary Committee later this year over Republican concerns that the company is biased against conservatives, a senior Republican said on Friday.
Salix Pharmaceuticals, a unit of Bausch Health Companies Inc , has moved to settle charges brought by the U.S. Securities and Exchange Commission that it misled investors about the company’s prospects, the SEC said on Friday.
BMW’s association of independent German car dealerships advised its members to sign new long-term contracts with the carmaker before a deadline at the end of the month to avoid disruptions to the sale of cars and spare parts.
The cost to insure debt holdings in electric carmaker Tesla Inc , whose chief executive has been accused of fraud by federal regulators, rose to its highest-ever level on Friday as the bond market reflected growing worries about a default.
Shares of Tesla Inc plunged up to 13 percent on Friday as investors worried about the future of Chairman and Chief Executive Elon Musk at the electric carmaker after U.S. securities regulators accused him of fraud.
Intel and other chipmakers helped U.S. stocks overturn losses and move higher in late morning trading on Friday, while gains in energy and healthcare stocks also boosted the market.
U.S. consumer spending increased steadily in August, supporting expectations of solid economic growth in the third quarter, while a measure of underlying inflation remained at the Federal Reserve’s 2 percent target for a fourth straight month.
With growth in many European, Asian and emerging markets mostly uninspiring, the United States is increasingly the main motor behind the global economy.
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