US President Donald Trump embarked on his first overseas visit since taking office, visiting Saudi Arabia, Israel and the Vatican. King Salman bin Abdulaziz greeted Mr Trump on red carpet after he stepped off Air Force One and shook hands with his wife Melania. Later on Saturday, Mr Trump received the nation’s highest civilian honour…
Alibaba, the Chinese internet group recorded its biggest quarterly rise in revenue since its initial public offering in 2014, as revenues were up 60 per cent year on yearto Rmb 8.58bn ($5.6bn) for the three months to the end of March, overtaking all market forecasts. Mobile monthly active users reached 507m. Alibaba shares were up…
The European Commission is poised to fine Facebook for misleading authorities during its takeover of WhatsApp the messaging service in 2014 according to the latest case of Brussels flexing their muscles. The commission will not reverse its decision on the merger itself but is expected to levy a large penalty to deter other groups from…
Toshiba issued a strongest warning to date in a legal battle over whether its right to sell its $20m chip business is restricted by the terms of its joint venture with Western Digital. The sale of Toshiba’s extremely profitable Nand Chip making business is at the centre of efforts to shore up the finances of…
Apple’s stocks hit new heights with their market value breaking through $800bn for the first time in the US. Apple reached $802.46bn compared to $508.25bn on 9th May 2016. Investors relaxed as volatility evaporates. S&P 500 zooms past 2400.20 compared to 2058.69 on May9th 2016 and European equities closing at the highest level in nearly…
Johnson & Johnson has been ordered by a US court to pay more than £85m ($110m) to Los Slemp (62) from Virginia, Missouri, who says she developed ovarian cancer after using its talcum powder. Prosecutors argued the company did not adequately warn about the cancer risks associated with its talcum powder. Experts say links with ovarian…
A Booker helicopter crashed in Buckinghamshire injuring three men with “life-threatening” injuries. Police and fire crews were called at the Wycombe Air Park in Clay Lane, Booker, just after 09:40 BST. According to South Central Ambulance Service, the aircraft has three men on board, ended up on its side. An ambulance spokesman said one man…
British Engineering giant Rolls-Royce will pay £671m to settle corruption cases with UK and US authorities. The UK’s Serious Fraud Office (SFO) found a conspiracy to corrupt or failure to prevent bribery by Rolls-Royce in China, India, Indonesia, Thailand, Russia, Nigeria and Malaysia. A UK court ruled the aerospace firm would pay £497m plus costs…
Sports Direct’s purchase of 50 stores trading as Bob’s Stores and Eastern Mountain Sports, from Eastern Outfitters including the buying of two loss-making chains, for £78m ($101m)marks his entrance into the US market. Mike Ashley is under pressure into Sports Direct’s working conditions and investor criticism of its corporate governance standards. However, the company has…
Northamptonshire-based UK cereal firm which has a royal warrant, Weetabix, made in UK since 1932- was put up for sale in January by China’s Bright food, which bought a 60% stake in 2012, is to be bought by US firm Post Holdings for $1.8bn ( £1.4bn) according to its owner. Bright’s acquisition was the…