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Richard Yu, CEO of Huawei's consumer business group, presents the new Kirin 990 5G chipset at the IFA consumer tech fair in Berlin, Germany, Friday. — Reuters
Huawei shows off 'most powerful' chipset as forges ahead with 5G smartphone plan
BERLIN — Huawei Technologies showcased its chipset for a new high-end smartphone on Friday, pressing ahead with plans to launch its Mate 30 range, despite uncertainty about whether the new phones will be able to run Google's Android operating system and apps.The Chinese tech giant bills the Kirin 990 chipset as the first all-in-one 5G system on a chip, describing it as superior to alternatives from Qualcomm and Samsung that, it says, graft 5G modems on to 4G chips."It’s the world’s most powerful 5G system on a chip. It’s the world’s most powerful 5G modem," Richard Yu, the head of Huawei’s consumer business group, said in a speech in Berlin.Huawei's launch at the IFA consumer electronics fair in Berlin of the Kirin 990, made using the latest 7 nanometer...
September 06, 2019

Huawei shows off 'most powerful' chipset as forges ahead with 5G smartphone plan

Cars readied for export are parked next to a vehicle storage facility on the dockside at the ABP port in Southampton, Britain in this Aug. 16, 2017, file photo. — Reuters
UK carmakers urge Brexit delay rather than no-deal exit
LONDON — Britain should delay Brexit beyond Oct. 31 rather than leave the European Union without a deal, which would be particularly harmful to large carmakers, the head of the sector's industry body told Reuters on Friday.As Britain spins towards an election, Brexit remains up in the air more than three years after Britons voted to leave the world's biggest trading bloc in a 2016 referendum leading to the country's biggest political crisis in decades.The autos sector, the country's biggest exporter of goods, has been one of the most vocal opponents of a no-deal Brexit, warning that production would be hit with tariffs, border delays and new bureaucracy, ruining the viability of many plants."Leaving without a deal would be the worst outcome," the Chief Executive...
September 06, 2019

UK carmakers urge Brexit delay rather than no-deal exit

Balance transfer envelopes are pictured in a Reuters office in New York, US, Thursday. — Reuters
Citigroup doubles down on credit cards even as US economy softens
NEW YORK — Despite signs that the US economy is slowing, New York-based Citigroup Inc is betting big on credit cards.Citigroup, the third-largest US card issuer, according to payments industry publication The Nilson Report, has been among the most aggressive promoters of zero-interest balance transfers.For a small fee, customers can move debt from a rival card onto Citi's plastic and pay no interest for 21 months. That is currently the longest 0% deal in the industry, according to consumer finance company Bankrate LLC. Rivals offer 15 interest-free months with no fee.The card business now accounts for nearly one-third of Citigroup's overall revenue and is one of the biggest potential drivers of future earnings growth.But some analysts and investors worry this portfolio could...
September 06, 2019

Citigroup doubles down on credit cards even as US economy softens

In this file photo a WeWork office is seen in New York City.  WeWork has slashed by more than half its valuation target after setting an ambitious goal for the fast-growing office-sharing startup, sources familiar with the company said on Thursday. — AFP
WeWork considers slashing IPO valuation amid pushback
NEW YORK — WeWork owner The We Company is considering slashing the valuation it will seek in an initial public offering (IPO) to a little over $20 billion, less than half the $47 billion valuation it achieved in a private fundraising round in January, people familiar with the matter said on Thursday.The We Company's deliberations illustrate how growing investor skepticism over the US office space sharing start-up's lack of a road map to profitability, and its co-founder Adam Neumann's firm grip on its governance, are weighing on its IPO prospects.A dramatic drop in the We Company's valuation could also prove to be a seminal moment for the IPO expectations of Silicon Valley unicorns. Other high-profile stock market listings this year, such as those of ride-hailing...
September 05, 2019

WeWork considers slashing IPO valuation amid pushback

A Samsung Electronics' Galaxy Fold is seen on display during a media event in Seoul, South Korea, on Thursday. — Reuters
Samsung to launch Galaxy Fold in S. Korea on Sept. 6 priced $2,000
SEOUL/BERLIN — Samsung Electronics Co Ltd on Thursday said its first foldable smartphone, the Galaxy Fold, will be available in South Korea from Sept. 6 with fifth-generation (5G) mobile connectivity.The world's largest smartphone vendor said the device would be priced at 2.398 million won ($1,977). It will go on sale in Britain, France and Germany in less than two weeks, with a US release also planned.The highly anticipated handset was originally due to hit the US market in April but the launch was delayed by screen defects detected in samples.The remodeled version of the Galaxy Fold, which opens like a book to reveal a 7.3-inch infinity display, now has the screen's protective layer tucked under the bezel at its edge.There are protective caps at the end of the hinges and, when...
September 05, 2019

Samsung to launch Galaxy Fold in S. Korea on Sept. 6 priced $2,000

Boohoo
Fashion conscious Boohoo online sales bloom, lifting shares
LONDON — Britain's Boohoo raised its full-year revenue forecast on Thursday on strong demand from its young customers for brands like PrettyLittleThing and Nasty Gal, sending the online fashion firm's shares to an all-time high.Shares in Boohoo, founded 14 years ago in Manchester, northern England, rose as much as 17 percent to an all-time high of 285.3 pence, as it said it expected its full-year revenue to rise between 33 percent and 38 percent, ahead of its previous 25 percent to 30 percent guidance, which would deliver a corresponding rise in earnings.Online retailers like Boohoo are growing fast, often at the expense of traditional shopping outlets such as Marks and Spencer, whose share price fall has seen the 135-year-old retailer evicted from the blue-chip FTSE 100 index on...
September 05, 2019

Fashion conscious Boohoo online sales bloom, lifting shares

Nissan Motors CEO Hiroto Saikawa speaks during a press conference at the company's headquarters in Yokohama, Japan, in this May 14, 2019 file photo. — AFP
Nissan probe finds CEO Saikawa, other execs overpaid in compliance failure
TOKYO — Nissan Motor Co was embroiled in another scandal over executive pay on Thursday after Chief Executive Hiroto Saikawa admitted to being overpaid in violation of internal procedures under a scheme designed by ousted Chairman Carlos Ghosn.An internal investigation found that Saikawa and other executives had received improper compensation, a source with knowledge of the matter told Reuters, raising doubts about Saikawa's pledge to improve governance in the wake of Ghosn's arrest last year for alleged financial misconduct.Saikawa apologized and vowed to return any improperly paid funds as he admitted to Japanese reporters earlier on Thursday that he had wrongly received stock-related compensation under "a scheme of the Ghosn era"."I am deeply sorry for causing...
September 05, 2019

Nissan probe finds CEO Saikawa, other execs overpaid in compliance failure

A worker produces desks for export to the US, France, Germany and other countries, at a factory in Nantong in China's eastern Jiangsu province, on Wednesday. — AFP
US, China to resume trade talks in Washington in October
BEIJING — China and the United States will resume trade talks in Washington in early October, Beijing said on Thursday, allaying fears that new punitive tariffs would lead to a breakdown in the protracted negotiations.The world's two biggest economies have been embroiled in a tense year-long tariffs row, which escalated on Sept. 1 when both sides swapped fresh levies on goods worth hundreds of billions of dollars.The talks were supposed to have resumed this month but China's commerce ministry said Vice Premier Liu He, Beijing's pointman on trade, agreed to October in a phone call with US Trade Representative Robert Lighthizer and Treasury Secretary Steven Mnuchin on Thursday.Commerce ministry spokesman Gao Feng said at a regular news briefing that there would be...
September 05, 2019

US, China to resume trade talks in Washington in October

An Airbus A319 aircraft of Weaving group's French airline Aigle Azur takes off from Lille Airport in Lesquin, northern France, in this Aug. 25, 2017 file photo. — AFP
France's No. 2 airline suspends some flights, ticket sales
PARIS — France's second-largest airline Aigle Azur, which went into receivership earlier this week, said Thursday it had halted flights to several destinations and was suspending ticket sales.In a brief statement on its website, the airline said that "we inform all our passengers from/to Sao Paulo, Bamako and Porto that all our flights are cancelled" and apologized to customers.It added in a separate statement that for the moment it had also halted the sale of tickets for all flights from September 10, the day following the deadline for submitting bids to acquire the airline.Following years of losing millions of euros, Aigle Azur filed for bankruptcy on Monday and was placed into receivership.While flights have been suspended for the moment to destinations in Brazil, Mali...
September 05, 2019

France's No. 2 airline suspends some flights, ticket sales

British Airways aircraft are seen at Heathrow Airport in west London in this Feb. 23, 2018 file photo. — Reuters
BA pilots could call off two days of strike if airline talks nice
LONDON — British Airways pilots could call off proposed strikes set for Sept. 9 and 10 if the airline agrees to come back to the negotiating table, the British Airline Pilots Association (BALPA) said on Thursday.The union has put forward a new proposal in a letter to British Airways Chief Executive Officer Alex Cruz in an effort to reach a deal with the company, BALPA said in a statement https://www.balpa.org/Media-Centre/Press-Releases/BA-pilots-could-call-off-strike-if-airline-agrees.BALPA said last month that the pilots would go on strike for three days in September in a dispute over pay that could disrupt the peak summer holiday season.The strikes could still go ahead if the airline continues to refuse meaningful discussions, the union added.British Airways said it would meet...
September 05, 2019

BA pilots could call off two days of strike if airline talks nice

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