China’s Baidu profit jumps as focus on mobile, AI narrows Chinese internet search engine provider Baidu Inc has reported a jump in quarterly earnings, recovering from a string of regulatory investigations last year, as sharpened focus on mobile and artificial intelligence (AI) services drives growth. The result comes as Baidu […]
Amazon plows ahead with high sales and spending; profit plunges Amazon.com Inc on Thursday reported a jump in retail sales along with a profit slump, as its rapid, costly expansion into new shopping categories and countries showed no sign of slowing. The world’s largest online retailer posted second-quarter revenue of […]
Xiaomi gains new $1 billion loan to drive retail push, expansion overseas Chinese smartphone maker Xiaomi Inc said on Friday it had signed a deal for a new $1 billion loan to accelerate its drive into brick-and-mortar stores and help a push overseas. The three-year syndicated loan comes as China’s […]
Workspace startup WeWork opens China unit backed by Hony Capital, SoftBank Co-working space startup WeWork Cos revealed plans on Thursday for a Chinese unit with the backing of China’s Hony Capital and Japan’s SoftBank Group Corp, as it seeks to benefit from booming demand for shared office space in the […]
Exclusive Russia used Facebook to try to spy on Macron campaign sources Russian intelligence agents attempted to spy on President Emmanuel Macron’s election campaign earlier this year by creating phony Facebook personas, according to a U.S. congressman and two other people briefed on the effort. About two dozen Facebook accounts […]
Samsung Electronics expects continued chip boom after record second-quarter profit Samsung Electronics Co Ltd (005930.KS) on Thursday said it expected the memory chip boom to continue in the current quarter, after reporting a record operating profit for the three months through June. The world’s biggest maker of memory chips, smartphones […]
PayPal raises 2017 forecasts on growth in users, payment volumes Digital payments company PayPal Holdings Inc raised its earnings outlook on Wednesday after reporting better-than-expected quarterly results, driven by growth in users and transaction volumes. The San Jose, California-based company beat Wall Street expectations for both profit and revenue in […]
Shares in Slim America Movil shrug off Colombian order to pay $1 billion America Movil, the telecommunications company of Mexican tycoon Carlos Slim, and Movistar, the Colombian unit of Spain’s Telefonica SA, may not have to pay any compensation while legal action in Colombia is under review, a government minister […]
U.S. indicts suspected Russian ‘mastermind’ of $4 billion bitcoin laundering scheme A U.S. jury indicted a Russian man on Wednesday as the operator of a digital currency exchange he allegedly used to launder more than $4 billion for people involved in crimes ranging from computer hacking to drug trafficking. Alexander […]
Singapore slings Taking on Alibaba, Amazon launches Prime Now in the city state Amazon.com Inc launched its two-hour delivery service in Singapore on Thursday, marking the e-commerce giant’s push into populous Southeast Asia and its first head-on battle with its Chinese rival, Alibaba Group Holding. While Amazon does deliver to […]
