The fact that the global auto industry is still strongly facing the impact of the ongoing semiconductor chip shortage with no immediate signs of a resolution was reflected in the grim warnings issued this week by major auto companies of the world including Toyota and Volkswagen.   Auto...

The communication network equipment maker Cisco Systems Inc warned that the costs of its components will be continued to be driven up while there would also be delivery blockages for the rest of the year because of supply chain issues as the firm’ profit forecast for its first quarter was short of...

A class action against the global payments processor Mastercard was approved by a London court whose claim is more than 10 billion pounds ($14 billion-plus). 46 million British adults could be the claimants in the case with each of them potentially receiving about 300 pounds each if the case is won...

A judge in the US state of Alaska has invalidated a major oilfield development permit for ConocoPhillips from the previous US President Donald Trump era, the Anchorage Daily News reported, citing a court document. Late last year, the Trump administration approved a multi-billion dollar...

The world's largest retailers, excluding China, have had a change of leaders. Amazon came out on top in retail sales, displacing Walmart. The latter remains the leader in U.S. sales, but may give up that lead as early as next year. Jeff Bezos's Amazon online retailer has become the leader in global...

The State Administration of Market Regulation of the People's Republic of China has drafted new rules for antitrust regulation of the technology sector. It provides for further tightening of regulations for IT companies. The watchdog will collect public feedback on the bill until September 15,...

Rental housing service Airbnb expects the number of bookings on the site to decline in the third quarter compared to the same period in 2019. The company's stock fell 4 percent after the announcement. Executives at international apartment rental service Airbnb warned investors of a possible drop in...

Adidas has signed an agreement with the American company Authentic Brands Group (ABG) to sell its Reebok brand. The deal will total up to €2.1 billion ($2.5 billion), most of which will be paid in cash and the rest in contingent and deferred consideration. Adidas intends to complete the sale in the...

Antitrust investigations ordered against Amazon.com Inc and Walmart's Flipkart by Indian competition regulators must be faced by the two retailers, said the country's Supreme Court in a ruling.     This ruling from the top court of India was a blow to both the retailers as they had...