Bubble trouble? Bitcoin tops $11,000 after $1,000 surge in 12 hours
Bitcoin zoomed past $11,000 (£8,185.50) to hit a record high for the sixth day in a row on Wednesday...
Meredith to buy US publisher Time in Koch-backed deal
US media company Meredith Corp said on Sunday it will buy Time Inc, the publisher of People, Sports Illustrated...
German car makers warned of possible battery materials shortage
The German car industry risks running short of key raw materials for automotive batteries, hampering a planned boost in...
Bubble trouble? Bitcoin tops $11,000 after $1,000 surge in 12 hours
Bitcoin zoomed past $11,000 (£8,185.50) to hit a record high for the sixth day in a row on Wednesday after gaining more than $1,000 in just 12 hours, stoking concerns that a rapidly swelling bubble could be set to burst in spectacular fashion. After soaring more than 1,000 percent... Read more
Meredith to buy US publisher Time in Koch-backed deal
US media company Meredith Corp said on Sunday it will buy Time Inc, the publisher of People, Sports Illustrated and Fortune magazines, in a $1.84 billion all-cash deal backed by conservative billionaire brothers Charles and David Koch. The deal is a coup for Meredith, which held unsuccessful talks to... Read more
German car makers warned of possible battery materials shortage
The German car industry risks running short of key raw materials for automotive batteries, hampering a planned boost in the production of electric vehicles (EVs), Germany’s largest industry association BDI warned. “The risk of running into bottlenecks in raw material supply is increasing because demand is growing faster than... Read more
US Black Friday, Thanksgiving online sales climb to record high
Black Friday and Thanksgiving online sales in the United States surged to record highs as shoppers bagged deep discounts and bought more on their mobile devices, heralding a promising start to the key holiday season, according to retail analytics firms. US retailers raked in a record $7.9 billion in... Read more
ECNEC approves over Rs211 billion power, social sector projects
The Executive Committee of the National Economic Council (ECNEC) Friday approved worth Rs211.691 billion development projects including Rs43.99 billion power sector projects and Rs167.701 billion projects related to social, education and other sectors. Prime Minister Shahid Khaqan Abbasi chaired ECNEC meeting held here at the PM’s Office. In line... Read more
EU privacy regulators to discuss Uber hack next week
European Union privacy regulators will discuss ride-hailing app Uber’s massive data breach cover-up next week and could create a task-force to coordinate investigations. Uber faces regulatory scrutiny after CEO Dara Khosrowshahi said the company covered up a data breach last year that exposed personal data from around 57 million... Read more
Flat profit gives Angry Birds maker’s shares the blues
HELSINKI: Angry Birds maker Rovio Entertainment fell short of market expectations for quarterly sales and profit on Thursday, sparking a near 20 percent fall in the Finnish firm’s shares. Increased marketing costs meant adjusted earnings before interest, tax, depreciation and amortization were flat at 8.6 million euros ($10.2 million)... Read more
Digital currencies will not replace physical money soon: Bank of Japan official
Financial technology is fast revolutionising the banking industry but digital currencies will not replace physical money any time soon, a senior Bank of Japan (BOJ) official said on Wednesday. “It’s too far off,” Hiromi Yamaoka, head of the BOJ’s payment and settlement systems department, said on the sidelines of... Read more
Uber to buy up to 24,000 self-driving cars from Volvo
Uber plans to buy up to 24,000 self-driving cars from Volvo, marking the transition of the US firm from an app used to summon a taxi to the owner and operator of a fleet of cars. The non-binding framework deal could offer San Francisco-based Uber a way to overcome... Read more
Honda recalling 900,000 minivans because seats may tip forward
Honda Motor Co said on Saturday that it was recalling about 900,000 minivans because second-row seats may tip forward if not properly latched after being adjusted. The Japanese automaker said the recall covered 2011-2017 Honda Odyssey minivans, all but 2,000 of which are in North America, and that it... Read more
Murdoch’s Fox in talks with multiple buyers for TV, film assets
Media-entertainment giant 21st Century Fox has been holding talks with at least three potential buyers for some of its television and film operations, a source familiar with the discussions said Friday. The source — who requested not to be identified — said Comcast, Verizon, and Sony are among the... Read more
Pakistan’s FDI stood at $939.7 million in four months
State Bank of Pakistan (SBP) recorded an increase of 74.4 percent in Federal Direct Investment (FDI) during first quarter of July-October 2017-18 as compared to last year. During July-October 2018 period, the net FDI inflow into the country was $939.7 million against $538.7 million during corresponding period July-Oct 2017,... Read more
Israel to tax Google, Facebook within a year
Israel plans to tax internet giants such as Google and Facebook within a year, the head of the tax authority said in remarks published on Wednesday. Israel Tax Authority chief Moshe Asher told Haaretz newspaper that taxing tech giants would make Israel among the “first” in the world, as... Read more
Construction of Diamir Bhasha dam government’s priority: Ahsan
Minister for Planning and Development, and Interior Ahsan Iqbal Tuesday stressed that the government was highly prioritising construction of Diamer Bhasha and Mahmand Dams to ensure stable supply of energy and food security. Minister Iqbal noted that government was also working relentlessly to construct Dasu Dam and many other... Read more