Swiss engineering company ABB is setting up a robot making factory in China Shanghai, for $150 million where robots would be used to make robots. This is an attempt by the company to hold on to its position as the market leader and the largest manufacturer of industrial robots.   The robots...

Australia is being planned to be made drought proof and the Australian government has apportioned 7 billion Australian dollars (4.9 billion U.S. dollars) for this purpose.   The announcement was made after a National Drought Summit which was attended by more than 100 farmer representatives...

In an interesting twist of events, the same company that had sold 22 regional sports TV networks to Disney is now the front-runner to buy back those channels from it.   According to media reports quoting sources, the leading contender to buy back the RSNs it "sold" to Disney as part of the...

Concerns about the favourite tech stocks of Wall Street are beginning to face strong competition were fanned after shares of Amazon.com Inc recorded its largest fall in four years on Friday following the retailer’s revenue for the holiday season missed targets.   The third quarter was the...

The British Information Commissioner (ICO) imposed on Facebook Inc., which owns the eponymous social network, a fine of £ 500 thousand (about $ 644 thousand) for cooperation with the British company Cambridge Analytica, which led to the leakage of personal data, reports CNBC. According to British...

Net profit of one of the largest banks in Britain, Barclays, before tax in January-September 2018 amounted to 3.12 billion pounds sterling ($ 4.05 billion), which is 10% lower than a year ago, follows from the statements of the credit institution. In terms of one ordinary share, the basic profit...

Lower tax rates because of the corporate tax cuts announced by United States president Donald Trump and a higher production of its F-35 fighter jets helped Lockheed Martin Corp to beat Wall Street estimates for third quarter profits noting a 17 per cent year-on-year increase. Lockheed is the...

A new report claims the US immigration enforcement has allowed Silicon Valley technology giants such as Amazon, Palantir and Microsoft make millions.   According to a paper published by a coalition of immigrant rights groups, the money was is being made by supplying hardware and software to...

The South Korean conglomerate Lotte Group, which chairman was released from custody this month, revised the five-year investment plan just two years after its initial announcement. Now Lotte plans to spend 50 trillion won ($ 44.05 billion) until 2023, Reuters reports. Earlier, the conglomerate...