About 300 people queued at Apple’s store in Mumbai on Tuesday, as fans took selfies with Chief Executive Tim Cook, who inaugurated the first retail store run by the tech giant in India, underscoring the importance of its market. “The energy, creativity, and passion in Mumbai is incredible!” Cook, who is making his first visit to […]
Alphabet’s Google LLC on Tuesday convinced a U.S. appeals court to cancel three anti-malware patents at the heart of a Texas jury’s $20 million infringement verdict against the company. The U.S. Court of Appeals for the Federal Circuit said that Alfonso Cioffi and Allen Rozman’s patents were invalid because they contained inventions that were not included in […]
Top shareholder of HSBC renewed its call for breaking up of the Asia-focused bank on Tuesday, saying the lender has failed to address key business model challenges which has resulted in deterioration in its operating performance. Ping An Asset Management Company (Ping An AMC) said in a statement HSBC has “drained” its Asia unit of dividends […]
Microsoft Corp is developing its own artificial intelligence chip code-named “Athena” that will power the technology behind AI chatbots like ChatGPT, the Information reported on Tuesday, citing two people familiar with the matter. The company, which was an early backer of ChatGPT-owner OpenAI, has been working on the chip since 2019 and it is being […]
Consumers are starting to fall behind on their credit card and loan payments as the economy softens, according to executives at the biggest U.S. banks, although they said delinquency levels were still modest. Profits at Bank of America Corp , JPMorgan Chase & Co, Wells Fargo & Co and Citigroup Inc beat analyst forecasts as lending giants earned […]
Johnson & Johnson on Tuesday cautioned investors over the lingering impact of inflation-driven costs this year as the healthcare conglomerate issued a conservative full-year profit forecast, and its shares fell more than 2%. J&J also said it expected a steep decline in sales of its blockbuster Crohn’s disease drug Stelara once it loses U.S. patent protection […]
Bank of America Corp’s first-quarter profit beat analysts’ estimates as it collected hefty interest payments from customers, while its bond traders had their best quarter in a decade. Rival banking giants JPMorgan Chase and Co and Citigroup Inc also reaped windfalls from higher interest payments in the first quarter, while setting aside billions of dollars to prepare for a worsening […]
Climate change and environmental-related natural disasters are associated with massive human losses, physical damages, and economic and fiscal losses, all affecting countries’ ability to meet their development goals. There is also growing global recognition that such disasters could pose risks to financial system stability, for example through loan losses and repricing of financial instruments, that would […]
Activist investor Trillium Capital said on Monday stock-photo company Getty Images Holdings Inc should expand and create partnerships with technology firms and publishers to grow its revenue. Last week, Trillium asked Getty for a board seat and urged the company to evaluate strategic options including a sale. According to Trillium’s Monday statement, Getty should expand its partnership with […]
The Swiss government has awarded an advisory mandate worth up to 8.7 million Swiss francs ($9.70 million) to Alvarez & Marsal Switzerland, linked to the rescue of Credit Suisse, according to state procurement platform Simap.ch on Monday. Swiss authorities last month engineered a takeover of struggling Credit Suisse by rival UBS that included over 200 billion […]
