• Fed poised to signal pause in US interest rate hikes
    News
    AFP News

    Fed poised to signal pause in US interest rate hikes

    The US Federal Reserve will wade into a charged political atmosphere on Wednesday, with another interest rate hike likely but accompanied by a strong sign it will hold off on further increases. The Fed opened the second day of its highly anticipated policy meeting but the outcome is perhaps the most

  • UK unveils immigration curbs as EU prepares for no-deal Brexit
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    AFP News

    UK unveils immigration curbs as EU prepares for no-deal Brexit

    Britain published proposals Wednesday for EU immigration curbs after Brexit as business groups warned the UK economy was not ready for the country to crash out of the bloc with no divorce deal in place. The proposals include a temporary work visa system similar to "guest worker" systems in

  • With eye on China, Germany shields strategic firms against takeovers
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    AFP News

    With eye on China, Germany shields strategic firms against takeovers

    Germany toughened rules Wednesday for non-EU share purchases or acquisitions of companies that are part of its critical infrastructure, amid growing disquiet about takeovers by Chinese firms. The new rules allow the government greater review powers in the defence, high-tech and infrastructure sectors

  • Chip gear makers take a beating after Micron's dour forecast
    Tech
    Reuters

    Chip gear makers take a beating after Micron's dour forecast

    Shares of chip gear makers fell after a tepid forecast by U.S.-based Micron Technology Inc exacerbated fears that a two-year chip boom was fizzling due to sluggish demand from makers of smartphones, PCs and servers. The industry is suffering from a supply glut as output, including from South Korean

  • Another EU referendum could rip UK society apart, warns biggest union
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    Reuters

    Another EU referendum could rip UK society apart, warns biggest union

    LONDON (Reuters) - Another referendum on European Union membership risks tearing British society apart and would undermine support for a possible future Labour government, the leader of Unite, Britain's biggest trade union, Len McCluskey said on Wednesday.

  • Huawei to spend $2 billion over five years in cybersecurity push
    Tech
    Reuters

    Huawei to spend $2 billion over five years in cybersecurity push

    (This version of the December 18th story corrects chairman's last name to Hu in 11th, 14th and last paragraphs) By Sijia Jiang HONG KONG (Reuters) - Huawei Technologies [HWT.UL] on Tuesday said it would spend $2 billion over the next 5 years to focus on cybersecurity by adding more people and upgrading

  • Uber and other taxi firms to pay London congestion charge
    Tech
    Reuters

    Uber and other taxi firms to pay London congestion charge

    Private hire firms had been exempt from the Congestion Charge but regulator Transport for London (TfL) is seeking to cut down the number of vehicles on the British capital city's roads, which has surged partly due to burgeoning taxi apps. TfL's revenues have also been hit in recent years by

  • Facebook says preferential data access was with user permission
    Tech
    Reuters

    Facebook says preferential data access was with user permission

    Facebook Inc said it did not give some companies access to people's data without their permission, after the New York Times reported on Tuesday that the social network allowed some large technology companies greater access to user data. The paper reported that Facebook allowed Microsoft's Bing

  • Truckmaker Volvo sells 75 percent of connected car unit to VW
    Finance
    Reuters

    Truckmaker Volvo sells 75 percent of connected car unit to VW

    BERLIN/STOCKHOLM (Reuters) - Volvo has agreed to sell 75.1 percent of WirelessCar, a digital service developer specializing in connected driving, to Volkswagen (VW) for 1.1 billion Swedish crowns ($121.5 million), the Swedish truckmaker said on Wednesday. The deal will allow Volvo to focus on commercial

  • 'Pineapple leather' offers vegan fashion alternative
    Entertainment
    Reuters

    'Pineapple leather' offers vegan fashion alternative

    Carmen Hijosa has created Piñatex, a textile woven from the long fibres in the fruit's discarded leaves that she hopes will give the fashion industry a sustainable alternative to leather. Hijosa, who founded the company Ananas Anam to market Piñatex, works with pineapple farmers in the Philippines

  • Saudi starts work with SoftBank on 200 gigawatt solar plan: minister
    Tech
    Reuters

    Saudi starts work with SoftBank on 200 gigawatt solar plan: minister

    Saudi Arabia has already started implementing an agreement with SoftBank Group's Vision Fund to provide 200 gigawatts of solar power in the kingdom, energy minister Khalid al-Falih said at a post-budget event. The kingdom's Public Investment Fund agreed to invest $45 billion in the giant tech

  • EU court claims final word on Berlusconi's stake in Mediolanum
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    Reuters

    EU court claims final word on Berlusconi's stake in Mediolanum

    The European Union's top court will have the final word on whether Silvio Berlusconi can keep his 30 percent stake in Banca Mediolanum despite a conviction for tax fraud, it said on Wednesday. The ruling lengthens the odds on a court victory for Berlusconi as EU judges have a track record of ruling

  • Third Canadian detained in China: report
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    AFP News

    Third Canadian detained in China: report

    A third Canadian citizen has been detained in China, a Canadian newspaper reported Wednesday, amid a diplomatic spat between Beijing and Ottawa over the arrest of a Chinese telecom executive. Canada's foreign ministry said it was "aware of a Canadian citizen" having been detained, according

  • SoftBank mobile unit in record IPO but market debut flops
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    AFP News

    SoftBank mobile unit in record IPO but market debut flops

    Japanese technology giant SoftBank celebrated the world's second-biggest IPO for its mobile unit Wednesday but the newly traded shares endured a torrid time in their debut session, plunging nearly 15 percent. A spokesman for the firm confirmed it had raised around 2.65 trillion yen ($23.5 billion

  • SoftBank Corp sees no tech impact from not using Huawei gear
    Tech
    Reuters

    SoftBank Corp sees no tech impact from not using Huawei gear

    SoftBank Corp does not expect any technology impact if it does not use 5G network gear from Chinese tech giant Huawei [HWT.UL] and had found the same level of quality from other vendors, an executive said at a press conference on Wednesday. SoftBank Corp's shares tumbled more than 14 percent on

  • GSK, Pfizer to merge consumer healthcare units
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    AFP News

    GSK, Pfizer to merge consumer healthcare units

    Pharmaceutical giants GlaxoSmithKline and Pfizer on Wednesday announced a merger of their consumer healthcare units that produce over-the-counter medicines. GSK said it would have a 68-percent controlling equity interest in the joint venture that will have combined sales of about £9.8 billion ($12.7

  • French ex-minister suspected of taking advantage of office
    News
    AFP News

    French ex-minister suspected of taking advantage of office

    France's former culture minister Fleur Pellerin is suspected of having improperly taken advantage of ties she developed with a South Korean web giant she dealt with while in office, an official report found Wednesday. Pellerin had established links with one of South Korea's leading internet

  • German security office warned German firms about Chinese hacking: report
    Tech
    Reuters

    German security office warned German firms about Chinese hacking: report

    Germany's Office for Information Security (BSI) has issued warnings to several German firms named by the United States as possible victims of hacking attacks, a newspaper reported, adding that Chinese activity against German firms had increased. Cyber experts have long warned that Germany - with

  • German security office warned German firms about Chinese hacking: report
    Tech
    Reuters

    German security office warned German firms about Chinese hacking: report

    Germany's Office for Information Security (BSI) has issued warnings to several German firms named by the United States as possible victims of hacking attacks, a newspaper reported, adding that Chinese activity against German firms had increased. Cyber experts have long warned that Germany - with

  • Elon Musk unveils his first Los Angeles-area tunnel
    News
    Reuters

    Elon Musk unveils his first Los Angeles-area tunnel

    Billionaire entrepreneur Elon Musk made a brief public appearance late on Tuesday to unveil the first tunnel completed by the underground transit venture he launched two years ago as an ambitious remedy to Los Angeles' infamously heavy traffic. In a 30-minute presentation carried by live webcast

  • Elon Musk unveils his first Los Angeles-area tunnel
    Tech
    Reuters

    Elon Musk unveils his first Los Angeles-area tunnel

    In a 30-minute presentation carried by live webcast, Musk touted the newly finished 1.14-mile (1.83 km) tunnel segment as a breakthrough in low-cost, fast-digging technology being pioneered by his nascent tunneling firm, the Boring Company. The new tunnel was excavated along a path that runs not through

  • Micron sales, profit miss estimates as chip glut hurts prices
    Tech
    Reuters

    Micron sales, profit miss estimates as chip glut hurts prices

    Micron said it expected industry output, including from South Korean rivals Samsung Electronics Co Ltd and SK Hynix , to outstrip demand from the makers of phones, PCs and servers, pushing down Micron chip prices. Samsung had already warned of a slowdown in demand and drop in chip prices, flagging

  • How Germany will turn lights out at last black coal mine
    News
    AFP News

    How Germany will turn lights out at last black coal mine

    After more than 150 years, Germany's last black coal mine will close in the Ruhr region, posing a gigantic geological and environmental challenge to the former industrial heartland. Mining company RAG, in charge of clean-up at the site, has nearly finished removing tonnes of steel, equipment and

  • End of an era as Germany's last black coal mine closes
    News
    AFP News

    End of an era as Germany's last black coal mine closes

    Germany will close its last black coal mine on Friday, turning the page on two centuries of mining history in the Ruhr region that helped fuel the country's post-war "economic miracle". Although the end of the Prosper-Haniel colliery near the western town of Bottrop comes as polluting

  • German govt plans to relax rules to attract foreign workers
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    AFP News

    German govt plans to relax rules to attract foreign workers

    Worker-starved Germany plans to ease immigration rules to attract foreign jobseekers and replenish its fast ageing workforce, despite mounting public resistance against new arrivals. Germany's first ever immigration law, to be agreed by Chancellor Angela Merkel's cabinet on Wednesday, is eagerly