Business

CEOs speed up digital push and downsize offices, KPMG survey shows

Companies around the world have moved more of their operations online, plan to reduce office space and have made recruiting and retaining staff their top priority since the coronavirus pandemic struck, a survey showed on Tuesday. A survey from accounting firm KPMG showed 80% of business leaders had accelerated their digital expansion plans during the […]

Business

Salesforce, Amgen, Honeywell to join Dow Jones Industrial

Shares of Salesforce.com (CRM.N), Amgen (AMGN.O) and Honeywell International (HON.N) each surged over 3% in extended trade on Monday after it was announced they would join the Dow Jones Industrial Average as of Aug. 31. Exxon Mobil (XOM.N), Pfizer (PFE.N) and Raytheon Technologies RTX.N, which S&P Dow Jones Indices said would leave the 30-component Dow […]

Business

Chip designer Arm to pause spin-off of its software units to SoftBank

Chip company Arm Holdings Ltd said on Monday it has put the brakes on the proposed transfer of two of its software businesses to its Japan-based parent SoftBank Group Corp. In July, Arm said it would transfer two units under its internet-of-things services group to Softbank and that it was aiming to complete the transfer […]

Business

TikTok sues Trump administration over U.S. ban, calls it an election ploy

TikTok and one of its employees on Monday separately sued U.S. President Donald Trump’s administration over his executive order banning transactions in the United States with the popular short-form video-sharing app, calling it a pretext to fuel anti-China rhetoric as he seeks re-election. Culver City, California-based TikTok and its Chinese parent ByteDance Ltd rejected what […]

Business

U.S. judge overseeing criminal case against Halkbank will not recuse himself

Turkish state lender Halkbank has lost a bid to have the U.S. judge overseeing a criminal case accusing it of helping Iran evade American sanctions recuse himself. U.S. District Judge Richard Berman in Manhattan said in an order on Monday that Halkbank’s recusal motion had no substantive merit, rejecting claims by the bank that he […]

Business

Tesla, automakers urge FTC to seek appeal after defeat in Qualcomm case

A group of tech companies and automakers, including Tesla Inc (TSLA.O), Ford Motor Co (F.N), Honda Motor Co Ltd (7267.T) and Daimler AG (DAIGn.DE), on Monday urged the U.S. Federal Trade Commission to seek an appeal after its loss in a case against chip supplier Qualcomm Inc (QCOM.O). Earlier this month a U.S. appeals court […]

Business

LVMH and Tiffany push back deal deadline by three months

French luxury goods giant LVMH (LVMH.PA) and U.S. jewellery chain Tiffany (TIF.N) will give themselves another three months to complete their $16.2 billion tie-up after the deal did not close on the Aug. 24 date set out in deal documents, a source familiar with the discussions said. Louis Vuitton owner LVMH agreed last year to […]