China’s Lenovo Group Ltd reported a 24% revenue decline for the third quarter, its largest revenue fall in 14 years as global demand for electronics slumped, and said it would look to cut spending and make workforce adjustments. The world’s largest maker of personal computers (PCs) said on Friday that total revenue during the October-December quarter […]
Microsoft has started discussing with ad agencies how it plans to make money from its revamped Bing search engine powered by generative artificial intelligence as the tech company seeks to battle Google’s dominance. In a meeting with a major ad agency this week, Microsoft showed off a demo of the new Bing and said it plans […]
U.S. Treasury Secretary Janet Yellen will travel to India next week for G20 finance meetings that will focus on unblocking distressed-country debt restructuring, boosting support for Ukraine and reforming multilateral development banks, a Treasury official said. Yellen will join fellow G20 finance ministers and central bank governors in Bengaluru on Feb. 23-25, spanning the first […]
Stock markets dropped across the globe on Friday and the dollar leapt to six-week highs as jobs data revived expectations the U.S. central bank would stick to its monetary tightening path. Data from the U.S. Labor Department overnight showed monthly producer prices had accelerated in January and the number of Americans filing new claims for unemployment […]
Boeing said on Thursday it is absorbing its decades-old aircraft-financing arm into its commercial airplanes unit as part of a push to simplify its corporate structure. After the retirement of Boeing Capital Corp (BCC) President Tim Myers this spring, Boeing said it would “realign” the financing arm within the commercial airplane unit while maintaining “strong coordination” […]
Oil fell 3% on Friday and was on course for a weekly decline, pressured by concerns of more U.S. Federal Reserve interest rate hikes that could weigh on demand, and signs of ample supply. Two Fed officials on Thursday warned additional hikes in borrowing costs are essential to lower inflation to desired levels. Heightened rate hike expectations […]
Twitter Inc has closed two of its three offices in India, Bloomberg News reported on Friday, citing people familiar with the matter. The social media company shut down offices in New Delhi and Mumbai but continues to operate its office in the southern tech hub of Bengaluru that mostly houses engineers, the report added. Twitter, under new […]
Mercedes-Benz Group on Friday warned of lower earnings this year amid economic uncertainty, and said it would look to sell more vehicles directly in major markets such as Britain and Germany as it continues to target high margins on flat volume. The premium automaker expects a lower adjusted return of 12%-14% on sales for its […]
Virgin Group won its trademark case against Alaska Airlines Inc for approximately $160 million on Thursday, with a judge in London ruling that it is entitled to royalties even though the U.S. airline no longer uses the Virgin brand. Virgin units Virgin Aviation TM Ltd and Virgin Enterprises Ltd argued Alaska is liable to pay […]
Two Federal Reserve officials said on Thursday the U.S. central bank likely should have lifted interest rates more than it did early this month, and warned that additional hikes in borrowing costs are essential to lower inflation back to desired levels. The Fed “has come an appreciable way in bringing policy from a very accommodative […]
