Business

Netflix shares dive on profit miss despite user growth

San Francisco (AFP) – Netflix shares dived on Thursday after the leading streaming entertainment service reported relatively flat quarterly profits despite rising subscriber numbers.Netflix reported a profit of $720 million on revenue of $6.1 billion in the recently ended quarter, compared with $709 million profit on $5.8 billion in revenue during the first three months…

More than 13 million automobiles recalled by manufacturers in the first semester of 2020 (Number of the day)

To date, Toyota is the automaker to have recalled the most vehicles in 2020, according to a report published by Finbold. Between January 1 and July 13, 2020, a total of 13,362,759 vehicle units were recalled to garages around the world for technical checks that mainly related to safety flaws.¬†Japanese automaker Toyota issued the most…

Apple wins EU court battle in 13-bn-euro tax case

Brussels (AFP) – A European court on Wednesday annulled an EU order that Apple repay Ireland 13 billion euros ($15 billion) in back taxes, in a major legal setback for Brussels.The commission’s historic ruling against Apple was delivered in August 2016 by Competition Commissioner Margrethe Vestager in a shock decision that put Europe on the…

Google to buy $4.5 bn stake in digital unit of India’s Reliance

Mumbai (AFP) – Google will buy a $4.5 billion stake in Reliance’s digital unit and jointly develop an entry-level smartphone with the Indian conglomerate, the two companies said Wednesday as global tech giants race to grab a share of the country’s massive market.”We are delighted to welcome a household name in India and worldwide, Google,…

Asian markets mostly up on vaccine, stimulus hopes

Hong Kong (AFP) – Fresh hopes for a virus vaccine and another round of US stimulus lifted Asian markets on Wednesday, though gains remained tethered by the reimposition of containment measures and China-US tensions.Investors took their lead from Wall Street’s pop higher, which came after US biotech firm Moderna said the final stage of human…