11 December

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Facebook lawsuits don’t show much consumer harm, but must they?

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By Nandita Bose WASHINGTON (Reuters) - The lawsuits filed against Facebook (NASDAQ:FB) allege the company's pattern of buying up competitors has turned it into a monopoly, but several experts said the complaints fell short on explaining how the social media platform's actions have hurt consumers. The U.S. Federal Trade Commission and nearly every U.S. state filed lawsuits against the social media...

11 December

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Facebook tracks ‘OceanLotus’ hackers to IT firm in Vietnam

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By Jack Stubbs and James Pearson LONDON/HANOI (Reuters) - Cybersecurity investigators at Facebook (NASDAQ:FB) have traced a hacking group long suspected of spying on behalf of the Vietnamese government to an IT company in Ho Chi Minh City. The announcement on Friday is the first time Facebook has publicly exposed an offensive hacking operation and, if confirmed, would be a rare...

11 December

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Asian markets wary over stimulus, pandemic concerns

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By Pete Schroeder (Reuters) - Investors in Asia were set to push stocks lower on Friday as concerns about U.S. stimulus and climbing COVID-19 cases weighed globally on optimism. Australian S&P/ASX 200 futures were down 0.54% in early trading, while {{178|Japan's NiNikkei 225 futures were up 0.09%. Hong Kong's Hang Seng index futures were up 0.44%. U.S. Treasury Secretary Steven Mnuchin said...

11 December

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UK retail industry warns of higher food prices with no EU trade deal

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LONDON (Reuters) - With prospects for a post-Brexit trade deal with the EU looking precarious, Britain's retail industry repeated a warning on Friday that shoppers faced higher food prices from next year if new tariffs were imposed in the absence of an agreement. Britain's Brexit transition period ends on Dec. 31. In the absence of a deal, Britain would trade with the...

11 December

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Louis Camilleri steps down as Ferrari CEO, Philip Morris chairman

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(Reuters) -Ferrari Chief Executive Officer Louis Camilleri has retired citing personal reasons after being in the role for nearly two and a half years and Chairman John Elkann will lead the company on an interim basis, the luxury automaker said on Thursday. Camilleri's decision to step down came after the executive suffered health problems, which made it necessary to hospitalize him for...

11 December

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UK startup Britishvolt picks site for $3.5 billion vehicle battery plant

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By Nick Carey LONDON (Reuters) - Electric vehicle battery startup Britishvolt said on Friday it had selected a site in northern England to build a £2.6 billion ($3.5 billion) factory that should start production in 2023. The company, which so far has said it has raised about £10 million, said the plant in the port of Blyth would be built in three...

11 December

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Costco Results Beat in Q1, led by E-Commerce, Same-Store Sales Growth

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By Yasin Ebrahim Costco (NASDAQ:COST) reported on Thursday first quarter results that topped estimates, led by double-digit same-store sales and e-commerce growth. Costco shares lost 0.78% in after-hours trade following the report. Costco announced earnings per share of $2.29 on revenue of $43.21 billion. Analysts polled by Investing.com anticipated EPS of $2.02 on revenue of $41.7 billion. The company reported same-store sales of...

11 December

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Disney Racks Up Over 13 Million New Subscribers in Under a Month; Shares Rise

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By Yasin Ebrahim Disney climbed in after-market hours Thursday as the company at its investor day said its streaming services had racked up 86.8 million users so far, up from 73.7 million reported just under a month ago. Walt Disney Company (NYSE:DIS) rose more than 2% following the report. The ramp-up in subscriber growth validated the company's strategic move...

11 December

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Exclusive-U.S. set to sanction Turkey over Russian defense system -sources

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By Humeyra Pamuk and Phil Stewart WASHINGTON (Reuters) -The United States is poised to impose sanctions on Turkey over its acquisition last year of Russian S-400 air defense systems, five sources including two U.S. officials told Reuters on Thursday, a move likely to worsen already problematic ties between the two NATO allies. The long-anticipated step, which is likely to infuriate Ankara and...

10 December

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ECB ups bond purchases and aid to banks to get through fresh recession

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FRANKFURT (Reuters) - The European Central Bank eased policy once again on Thursday to help the euro zone economy cope with the second wave of the coronavirus pandemic, which is almost certain to plunge the bloc into yet another recession this quarter. The ECB increased the overall size of its Pandemic Emergency Purchase Programme by 500 billion euros to 1.85 trillion...

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News

Facebook lawsuits don’t show much consumer harm, but must they?

Facebook tracks ‘OceanLotus’ hackers to IT firm in Vietnam

Asian markets wary over stimulus, pandemic concerns

UK retail industry warns of higher food prices with no EU trade deal

Louis Camilleri steps down as Ferrari CEO, Philip Morris chairman

UK startup Britishvolt picks site for $3.5 billion vehicle battery plant

Costco Results Beat in Q1, led by E-Commerce, Same-Store Sales Growth

Disney Racks Up Over 13 Million New Subscribers in Under a Month; Shares Rise

Exclusive-U.S. set to sanction Turkey over Russian defense system -sources

ECB ups bond purchases and aid to banks to get through fresh recession

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