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Business 24 Jul 2019 | 11:09 PM

What Google, Facebook could face in US antitrust probe

NEW YORK: The U.S. Department of Justice is investigating whether big technology companies are engaged in anticompetitive behaviour, addressing a rising tide of criticism they have become too powerful to the detriment of consumers

Business 18 Jul 2019 | 11:56 PM

Boeing takes US$4.9b charge for prolonged grounding of 737 MAX planes

SEATTLE: Boeing Co said on Thursday it would take an after-tax charge of US$4.9bil in the second quarter on estimated disruptions from the prolonged grounding of its lucrative 737 MAX passenger jets after two deadly crashes.

Business 13 Jul 2019 | 3:13 AM

FTC approves US$5b fine against Facebook for privacy violations

LOS ANGELES: The Federal Trade Commission voted to fine Facebook around $5 billion for violations of the FTC's consumer-privacy rules, according to multiple media reports -- the biggest privacy-related fine in the commission's history.

Business 12 Jul 2019 | 12:00 AM

Deutsche Bank faces US Department of Justice probe over 1MDB

New York: The US Department of Justice is investigating Deutsche Bank AG as part of a broadened probe of Malaysia’s scandal-plagued 1MDB investment fund, according to a source.

Business 25 Jun 2019 | 10:41 PM

Wall Street sinks as hopes fade for rate cuts, trade progress

NEW YORK: Wall Street stock indexes fell on Tuesday, led by a sharp selloff in technology shares, as simmering trade concerns and disappointing economic data sent buyers to the sidelines, while the Federal Reserve chairman pushed back on pressure from President Donald Trump to cut interest rates.

Business 06 Jun 2019 | 1:54 AM

Should Big Tech fear US antitrust enforcers?

NEW YORK: The arcane topic of antitrust law is getting more attention with the U.S. government gearing up to investigate whether Alphabet Inc's Google, Facebook Inc, Apple Inc, and Amazon.com Inc compete fairly.

Business 04 Jun 2019 | 12:30 AM

US moving toward major antitrust probe of tech giants

WASHINGTON: The US government is gearing up to investigate whether Amazon, Apple, Facebook and Google misuse their massive market power, sources told Reuters on Monday, setting up what could be an unprecedented, wide-ranging probe of some of the world's largest companies.

Business 29 May 2019 | 12:54 AM

T-Mobile, Sprint could sell Boost for up to US$3b, potential bidders say

A GROUP of potential buyers are preparing bids for prepaid wireless brand Boost Mobile in an upcoming sale valuing the offshoot of U.S. wireless carriers T-Mobile US Inc and Sprint Corp at up to $3 billion, interested buyers told Reuters.

Business 23 May 2019 | 10:34 PM

US starts giving documents to lawyers of ex-Goldman banker Ng in 1MDB case

NEW YORK: U.S. prosecutors on Thursday handed over the first of 1 million evidentiary documents to the lawyers of Roger Ng, a former Goldman Sachs banker facing criminal charges linked to a multibillion-dollar scandal at the Malaysian state investment fund 1MDB.