01182017Wed
Last update: Wed, 18 Jan 2017 11am

Business & Finance - Industries & Sectors

Huawei adds Amazon Alexa to flagship phone LAS VEGAS: Chinese tech giant Huawei is adding Amazon's artificial intelligence application Alexa to its flagship smartphone for its US launch.The number three global smartphone brand, Huawei announced at this week's Consumer Electronics Show that its Mate 9 handset would include the personal digital assistant developed by Amazon.The Mate 9, a large-screen "phablet" marketed as a rival to the big handsets from Apple and Samsung, will be available to US buyers in "early 2017," the Chinese firm said at the Las Vegas tech show.Huawei said this is the first smartphone to pre-install Amazon Alexa, a cloud-based, voice-activated digital assistant that can control smart home devices or respond to questions.Amazon is making Alexa available to third parties as it seeks to boost its presence in the consumer electronics field with artificial intelligence and home automation.Alexa is battling similar services developed by Google, Microsoft and Apple that can be used on a ...


Business & Finance - Banking & Finance

Deutsche Bank agrees to pay $95mn to settle US tax fraud case NEW YORK: Deutsche Bank, Germany's biggest bank, has agreed to pay $95 million to settle a tax fraud case brought by the US Justice Department, the federal prosecutor in charge has announced.Preet Bharara, the US attorney for the Southern District of New York, said Deutsche Bank used a "web of shell companies and calculated transactions" to try to evade paying tens of millions of dollars in taxes.The US government "has made Deutsche Bank admit to ...

Business & Finance - Industries & Sectors

Volkswagen CEO to stay away from Detroit auto show BERLIN: Volkswagen chief executive Matthias Mueller will miss the Detroit auto show next week, the German carmaker said on Wednesday, amid uncertainty over its chances of settling a U.S. criminal investigation into its emissions scandal.Volkswagen (VW) reached an agreement before Christmas to compensate U.S. owners of about 80,000 polluting 3.0-litre diesel cars, pushing up the costs of its emissions test cheating in the world's No. 2 car market to $17.5 billion.But VW is still in ...

Business & Finance - Managed Funds

Euro zone yields steady after inflation-induced spike LONDON: Euro zone bond yields steadied after a recent increase on Wednesday as investors digested more data confirming rising inflation across the region. Yields jumped nearly 10 basis points on Tuesday after Germany reported consumer prices overall increased more than forecast in December and its Ifo economic institute called on the European Central Bank to end its bond-buying if inflation rose across the bloc. Data on Wednesday showed euro zone consumer prices rose more than ...

Business & Finance - Banking & Finance

UniCredit investor Cariverona still undecided on cash call MILAN: The Cariverona foundation has still not made up its mind whether it will underwrite the 13 billion euro rights issue of Italy's UniCredit, a foundation source said on Wednesday.Italian daily Il Sole 24 Ore said on Wednesday leading UniCredit shareholders, including CariVerona which owns 2.7 percent of the bank, were all inclined to buy into the share sale to avoid a dilution of their stakes."The governance structures of the Foundation are continuing to carefully ...

Business & Finance - Banking & Finance

JP Morgan tops investment banking for 8th straight year LONDON: JP Morgan kept its top spot for investment banking fees for the eighth year in a row in 2016, grabbing market share at the expense of rivals including Goldman Sachs, Bank of America Merrill Lynch and Deutsche Bank. New York-based JP Morgan took in US$5.8bn in fees from completed M&A advisory, capital markets underwriting and syndicated lending last year, down 5pc from 2015, according to Thomson Reuters data. Its market share rose to 6.8pc ...

Business & Finance - Industries & Sectors

German car sales rise the most since 2009, seen faltering in 2017 FRANKFURT/BERLIN: German car sales grew the most in seven years in 2016, the VDA industry association said, but analysts expect the expansion to grind to a halt this year amid a weakening economy and rising petrol prices. Registrations of new passenger cars in Europe's largest auto market rose 5 percent last year to 3.35 million vehicles, the highest level since 2009 when deliveries were fuelled by state-backed scrapping premiums, the VDA said on Wednesday. But ...