Category: Business

Beijing opposes a forced sale of TikTok’s U.S. operations by its Chinese owner ByteDance, and would prefer to see the short video app shut down in the United States, three people with direct knowledge of the matter said on Friday. ByteDance has been in talks to sell TikTok’s U.S. business to potential buyers including Microsoft […]

WASHINGTON – A training review for the grounded Boeing BA.N 737 MAX will begin on Monday in London, the U.S. Federal Aviation Administration (FAA) said, in a key milestone for the plane’s eventual return to service. The FAA said the Joint Operations Evaluation Board for the Boeing 737 MAX will take place at London Gatwick […]

KUALA LUMPUR – Casino operator Genting Malaysia Bhd GENM.KL is injecting $150 million cash into its U.S.-based unit Empire Resorts Inc for working capital and financing purposes, the company said . The casino, amusement park and resort group said it entered into a subscription agreement to subscribe for up to $150 million of Series L […]

SoftBank Group Corp 9984.T is considering changing its strategy of using derivatives to invest in tech stocks, Bloomberg News reported citing people familiar with the matter. The report here said SoftBank executives had met investors in recent days to assure them that the bets are “relatively conservative”. SoftBank has told investors that its positions have […]

As evidence grew this spring that the drug remdesivir was helping COVID-19 patients, some Wall Street investors bet on analysts’ estimates that its maker, Gilead Sciences Inc, could charge up to $10,000 for the treatment. Then a small but increasingly influential drug-pricing research organization, the Institute for Clinical and Economic Review (ICER), said the treatment […]

U.S. printer maker Xerox Holdings Corp said on Friday Chief Financial Officer William Osbourn will step down effective Sept. 30. Xavier Heiss, who has been at the company for over 30 years and was made president of EMEA Operations earlier this year, will serve as the interim CFO as Xerox looks for a permanent replacement, […]

STOCKHOLM/TOKYO – Microsoft MSFT.O will on Tuesday launch its Xbox cloud gaming service priced at $1 for new users’ first month, in a major drive to attract casual gamers with the promise of cutting ties to the living room and as competition with Sony heats up. Subscribers to Xbox Game Pass Ultimate, priced at $14.99 […]