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Facebook, Oculus execs ordered to pay $500m in virtual reality lawsuit

LOS ANGELES: Facebook's virtual reality subsidiary Oculus and its executives have been ordered by a Dallas jury to pay game developer ZeniMax Media $500 million in damages over copyright infringement and the violation of a non-disclosure agreement.

Sony logs 42 pct plunge in Q1 operating profit on quake damage

TOKYO: Japan's Sony Corp on Friday reported a 42 percent decline in first-quarter operating profit due to earthquake damage to one of its key image sensor factories.

Global growth tops agenda as G7 meeting kicks off in Japan

Sendai, Japan: Finance ministers and central bankers from the G-7 kicked off meetings in Japan on Friday that could highlight a divide among the club of rich nations over currency policy and how to rev up global growth.

Currency wars, fiscal stimulus rift in focus at G7 meeting

TOKYO: Finance ministers and central bankers from the G-7 meet in Japan this week for talks likely to highlight a sharp divide over currency policy and how to breathe life into the wheezing global economy.

Nikkei plunges 3.6% after BOJ inaction stuns investors

TOKYO: Japanese stocks gave up early gains and took a u-turn that wiped out much of the previous week's four-day rally in a single afternoon after the Bank of Japan disappointed investors by holding off on expanding monetary stimulus.

Top foreign and local stories at 4pm

Top foreign and local stories at 4pm

Japan auto, electronics sector face disruption due to quake damage

TOKYO: Toyota Motor Corp said on Sunday it would suspend production at plants across Japan after earthquakes in the country's south disrupted the automaker's supply chain, while other manufacturers extended stoppages due to damaged factories.

Japanese supliers admit falsifying materials data

TOKYO: Two Japanese companies admitted falsifying data on the quality of building materials, raising concerns about the safety of rubber goods and other inputs for ships, trains and buildings.

Copper supply risks back after Chile quake

SYDNEY: A powerful earthquake in Chile has turned the copper market's focus back onto supply risks rather than Chinese demand, after mine operations were once again disrupted in a country that accounts for a third of the world's supply of the metal.

Huge rise in Japan factory output

TOKYO: Japan’s September factory production posted its biggest rise in eight months, official data showed, but the news failed to dispel doubts about the strength of the wider economy following a recent string of weak figures.