Business

Amazon struck with record EU data privacy fine

Editorial Bureau July 30, 2021

Amazon.com Inc has been struck with a record $886.6 million (746 million euros) European Union fine for processing personal data in breach of the bloc’s GDPR rules, as privacy regulators take a more aggressive position on enforcement. The Luxembourg National Commission for Data Protection

Business

Deliveroo considers ending Spain operations over high costs

Editorial Bureau July 30, 2021

Deliveroo is mulling ending services in Spain due to high costs associated with running operations in the country to focus on other markets and to pursue an expansion in new and existing cities, the food delivery firm said on Friday. “The company has determined that achieving and sustaining a top-tier market position in Spain would […]

Business

Google says Microsoft balking at turning over documents in antitrust fight

Editorial Bureau July 30, 2021

WASHINGTON (US) – Highlighting that Microsoft has failed to comply with a subpoena, according to a court filing unsealed late Thursday, Alphabet’s Google has asked a judge hearing the Justice Department’s antitrust lawsuit against the search and advertising giant to compel Microsoft to turn over documents. Google served a subpoena to Microsoft [MSFT.O]

Business

Comcast’s quarterly revenue tops estimates, eased by cable growth

Editorial Bureau July 29, 2021

Comcast Corp’s second-quarter revenue outnumbered Wall Street estimates on Thursday, benefiting from higher advertising sales, theme parks reopening, and record broadband subscriber and total cable customer additions. The pandemic has created a distinction between digital businesses and those that are more reliant on in-person interactions. Comcast has a mix of both.

Business

Walmart’s Flipkart, Amazon urge India’s top court to stop antitrust queries

Editorial Bureau July 29, 2021

NEW DELHI (INDIA) -Walmart-owned Flipkart and Amazon.com Inc have urged India’s Supreme Court to restrain the country’s antitrust body from pursuing sensitive business information in an e-commerce investigation, according to filings seen by a prominent organisation. The requests, in court documents which have not been made public, illustrate the level of

Business

Volkswagen raises margin target again on record earnings

Editorial Bureau July 29, 2021

FRANKFURT (GERMANY) – Volkswagen on Thursday raised its profit margin target for the second time in less than three months, pointing to record earnings in the first half of 2021 that even blew past pre-pandemic levels. The company said it now expected an operating return on sales of 6.0-7.5%, having previously guided for 5.5-7%. First-half […]

Business

Tesla increases electric car prices in US; holds line in China

Editorial Bureau July 28, 2021

Tesla Inc showed signs this week of divergent strategies in the world’s two biggest automotive markets, increasing prices to boost profit margins in the United States while keeping prices steady in China and hoping to grow sales there. Tesla raised prices for the most affordable versions of Model 3 and Model Y about a dozen […]

Business

Five people missing after explosion strikes German chemicals site

Editorial Bureau July 27, 2021

BERLIN (GERMANY) -Five people were missing and several injured after an explosion struck an industrial park in the western German city of Leverkusen on Tuesday. It sent up plumes of smoke and prompting police to ask nearby residents to remain in their homes. The explosion happened at 9.40 a.m. local time (0740 GMT), causing a […]

Business

McDonald’s sets up new unit to focus on global digital app

Editorial Bureau July 26, 2021

NEW YORK (US) – McDonald’s Corp is setting its digital, data analytics, marketing, restaurant development and operations segments into one unit as it delves into driving growth through its global app and new MyMcDonald’s Rewards program, the company said on Monday. The company rolled out MyMcDonald’s Rewards on July 8 as fast-food chains have raced

Business

Philip Morris to stop Marlboro cigarette sales in UK within a decade

Editorial Bureau July 26, 2021

Tobacco group Philip Morris International will stop selling Marlboro cigarettes in Britain within a decade, its chief executive told the Daily Mail. This move comes in tandem with the country’s wider ambition to stamp out smoking by 2030. “I think in the UK, ten years from now maximum, you can completely solve the problem of […]