Company News
Explainer: Big tech probes could break up firms, result in huge fines, or neither
WASHINGTON (Reuters) – The potential penalties for several wide-ranging investigations into whether Facebook, Google and other big U.S. tech companies used their market power unfairly include everything from breaking up the companies, to large fines and forcing them to create more competition. FILE PHOTO: The logo of Google is seen at the high profile startups …
Hong Kong police arrest 36, youngest aged 12, after running battles with protesters
HONG KONG (Reuters) – Hong Kong police said on Monday they arrested 36 people, the youngest aged 12, after violence during anti-government demonstrations escalated as protesters hurled Molotov cocktails at security forces who responded with water cannon and tear gas. An anti-extradition bill protester carries a barricade for blocking the road during a protest in …
Jeff Bezos sells Amazon stock worth $2.8 billion last week
FILE PHOTO – Jeff Bezos, founder of Amazon and Blue Origin speaks during the JFK Space Summit, celebrating the 50th anniversary of the moon landing, at the John F. Kennedy Library in Boston, Massachusetts, U.S., June 19, 2019. REUTERS/Katherine Taylor (Reuters) – Amazon.com Inc (AMZN.O) Chief Executive Officer Jeff Bezos offloaded $990 million worth of …
Alibaba welcomes U.S. small businesses to sell globally on its platform
NEW YORK (Reuters) – Chinese e-commerce giant Alibaba Group Holdings Ltd (BABA.N) will now allow small businesses in the United States to sell on Alibaba.com, the company said on Tuesday, an effort to tap into the business-to-business e-commerce market and fend off fierce competition from rivals like Amazon.com Inc (AMZN.O). FILE PHOTO: A logo of …
Britain’s national health service teams up with Amazon
FILE PHOTO: Prompts on how to use Amazon’s Alexa personal assistant are seen in an Amazon ‘experience center’ in Vallejo, California, U.S., May 8, 2018. REUTERS/Elijah Nouvelage/File Photo (Reuters) – Britain’s National Health Service is teaming up with Amazon to provide health information through the tech giant’s voice assistant Alexa, the government said here on …
China’s Anbang to offload health insurance unit as government speeds up asset sales
BEIJING (Reuters) – China’s Anbang Insurance Group said it will sell its entire stake in a health insurance unit as Beijing speeds up asset disposals at the troubled government-controlled insurance conglomerate. FILE PHOTO – A general view shows the headquarters of Anbang Insurance Group in Beijing, China, February 23, 2018. REUTERS/Thomas Peter Anbang said it …
World’s central banks to tackle technology with BIS innovation hub
ZURICH (Reuters) – Central banks grappling with fast-changing financial technology and companies like Facebook moving into finance will aim to work together more closely through an innovation hub approved on Sunday by the Bank for International Settlements. The BIS said the intention of the hub, which will be based in Basel, Hong Kong and Singapore, …
Eldorado Resorts clinches $18 billion cash and stock deal for Caesars: sources
The 550 foot-tall (167.6 m) High Roller observation wheel, the tallest in the world, is the centerpiece of the $550 million Linq project, a retail, dining and entertainment district by Caesars Entertainment Corp, in seen in Las Vegas, Nevada April 9, 2014. REUTERS/Las Vegas Sun/Steve Marcus/File Photo NEW YORK (Reuters) – U.S. casino operator Eldorado …