Berkshire Hathaway investment company, owned by billionaire Warren Buffett, will pay a fine to settle a dispute with the US Treasury Department about the violation of sanctions against Iran. One of the Turkish companies owned by the holding's subsidiary has been supplying instruments to Iran for...

The German auto maker Daimler has identified China as the biggest growth market in the next decade for Mercedes-Benz, said the company’s Chief Executive, Ola Kaellenius.   But with continued rise in global trade tensions, the company also plans to adjust production locations to capture...

The use of telecom equipment from China's Huawei and ZTE for development of the 5G network was banned by Sweden on Tuesday on security grounds. The country is slated to soon auction spectrums for 5G networks.   Sweden no joins other European countries that have already banned or restricted...

Intel is selling its flash memory chip business to South Korea's SK Hynix (part of the SK Group). The contract is going to be $9 billion in all. The American company sells its NAND SSD business, its NAND manufacturing wafers and parts, as well as its factory in Dalian, China.  The...

The novel coronavirus pandemic drove global demand for hospital equipment needed to help patients battling the disease which helped the health technology company Philips to report much better than expected results for the recently concluded third quarter on Monday.   There was a 10 per cent...

In continuation of its strategy of exiting the slow-growth businesses, the largest food group of the world Nestle is all set to start off the process for selling off of its North American water brands including Pure Life and Poland Spring, said reports quoting sources familiar with the matter....

The United States plans to supply Taiwan with modern weapons worth about $ 5 billion, Reuters reported, citing a source on October 13. It is noted that the presidential administration presented to the US Congress two additional types of weapons to the previously agreed list - the Taipei MQ-9 UAV...

Mallinckrodt will be paying settlement amounts in instalments over a stretch of several years. On Monday, October 12, 2020, Mallinckrodt filed for acquiring “bankruptcy protection” as the company weighs under lawsuits that allege it to have facilitated the “U.S. opioid epidemic”. Moreover, in...

Morgan Stanley announced that it has reached an agreement in principle with asset management firm Eaton Vance to buy its business for $ 7 billion. The deal, according to a press release, will allow the American bank to strengthen its asset management division. Eaton Vance currently manages assets...