Business & Finance News
KPMG and one of its partners have admitted to serious failings in compliance reports for Bank of New York Mellon , Britain’s accountancy watchdog said, potentially leading to heavy fines as the auditor comes under unprecedented scrutiny.
The chief executive of Toshiba Memory Corp, the world’s No. 2 producer of NAND flash memory chips, on Wednesday brushed aside concerns about falling memory chip prices and reaffirmed the company’s plan to go public in two to three years.
McDonald’s tax deal with Luxembourg did not breach EU state aid rules, EU antitrust regulators ruled on Wednesday, saying the reason the U.S. fast food chain did not pay some taxes was due to the mismatch between U.S. and Luxembourg laws.
Luxembourg welcomed on Wednesday the European Commission’s ruling that its tax deal with McDonald’s was not illegal after a three-year long investigation.
SAP SE , the German business software company, said on Wednesday it was teaming up with Alibaba to offer its flagship products on the Chinese company’s cloud infrastructure.
Global equities rallied for a second straight day on Wednesday while safe-haven assets such as U.S. bonds and the Japanese yen slipped to multi-week lows as investors bet the escalating U.S.-China trade spat would inflict less damage than feared.
Alibaba Group Holding Ltd will set up a dedicated chip subsidiary and aims to launch its first self-developed AI inference chip in the second half of 2019 that could be used for autonomous driving, smart cities and logistics.
China will not engage in competitive currency devaluations, Premier Li Keqiang stressed, hours after China hit back, with a softer punch than the one landed by the United States, in an escalating tariff war between the world’s largest economies.
Renault, Volkswagen and Fiat Chrysler led a 29.8 percent European car sales surge last month, the main regional industry body said, as automakers used discounts to clear inventory ahead of tougher emissions tests.
Asian stocks rose across the board on Wednesday as expectations that Beijing would implement stimulus to soften the economic blow from the Sino-U.S. trade war helped Chinese shares rally.
Tencent Music Entertainment Group , China’s biggest music-streaming company, has halved the amount it is seeking to raise in a U.S. listing to about $2 billion, according to three people close to the deal.
The executive from one of China’s biggest soybean crushers sat on a panel at a Kansas City agricultural exports conference, listening to an expert beside him explain why China would remain dependent on U.S. soybeans to feed its massive hog herds.
China’s agriculture industry and government are aiming to put the nation’s vast pig herd on a low-soymeal diet to reduce the country’s reliance on U.S. soybean imports, a move that would send shudders across the U.S. farmbelt and beyond. [L3N1VJ3WE]
With smart cancer diagnostics, one-stop-shop diabetes kits and AI systems to improve ambulance pick-ups for patients with chest pain, AstraZeneca aims to move from simply supplying drugs to become a broad healthcare provider in China.
Confidence among Asian companies slumped to the weakest in almost three years in the third quarter as businesses feared blowback from a worsening global trade war, a Thomson Reuters/INSEAD survey showed.
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