08282016Sun
Last update: Sun, 28 Aug 2016 09pm

Industries & Sectors

Business & Finance - Industries & Sectors

AT&T revamps cellular data plans, eliminates overage fees NEW YORK: AT&T Inc, the No. 2 U.S wireless provider, said on Wednesday that it would roll out a new data plan that does away with overage fees and reduces data speeds for wireless customers who surpass their data allowance. Beginning Sunday, customers can choose the new Mobile Share Advantage plan and pay for extra data, if needed, or work with slower data speeds instead of paying for overages, the company said in a statement. Its current plan includes a $5 data overage charge per 300 megabytes on its 300-megabyte plan and $15 per 1 gigabyte on other plans.AT&T and its rivals are locked in an aggressive battle for subscribers in the saturated US wireless market. Data overage charges have long been a gripe for wireless customers who increasingly spend time on their mobile devices watching streaming video services such as Netflix and playing games such as Pokemon Go. The ...

Business & Finance - Industries & Sectors

Rio prosecutors investigate tax breaks for ThyssenKrupp plant SAO PAULO: Rio de Janeiro prosecutors opened a criminal investigation to evaluate the legality of tax breaks given to German steel group ThyssenKrupp AG by Rio's city and state governments, the prosecutor's office said on Wednesday. The investigation aims to find out whether or not Rio authorities broke laws regarding the concession of fiscal incentives to ThyssenKrupp large steel slab plant built in Rio, the Companhia Siderurgica do Atlantico (CSA). The plant is already a ...

Business & Finance - Industries & Sectors

Ryanair hikes Italy investment after govt does tax U-turn ROME: Low-cost airline Ryanair said on Wednesday it had reversed a decision to cut back operations in Italy and would instead invest a billion dollars in the country in 2017 after the government froze plans to hike passenger departure taxes. Ryanair will add 10 new aircraft to its Italian network and open 44 new routes in a move it said would lift its passenger traffic by 10 percent to 35 million next year."We are talking ...

Business & Finance - Industries & Sectors

Cathay Pacific's H1 profit plunges on China slowdown, shares slide SHANGHAI: Hong Kong airline Cathay Pacific Airways's first-half net profit tumbled 82 percent amid slower Chinese economic growth and falling consumer demand for premium class seats on long-haul routes, sending its shares down almost 8 percent. Net profit for the six months ended June 30 fell to HK$353 million ($45.52 million) from HK$1.97 billion in the same period last year, Cathay said in a filing to the Hong Kong bourse on Wednesday.The carrier said a ...

Business & Finance - Industries & Sectors

Ford, Baidu invest in US self-driving car sensor firm SAN FRANCISCO: Ford Motor Company and Chinese internet giant Baidu on Tuesday said they have invested a combined $150 million in Velodyne, a US company specializing in laser sensors for self-driving cars.The California-based Velodyne said the cash infusion will enable it to quickly expand the design and production of "LiDAR" high-performance sensors for autonomous vehicles."From the very beginning of our autonomous vehicle program, we saw LiDAR as key enabler due to its sensing capabilities and ...

Business & Finance - Industries & Sectors

BHP Billiton books record loss, says commodity price 'free fall' over MELBOURNE/LONDON: The world's biggest miner BHP Billiton on Tuesday said deep cost cuts and a steady elimination of oversupply will bolster its business following a record loss caused by a bad bet on shale and a dam disaster in Brazil. The firm's share price was trading about 1 percent higher by 1530 GMT, building on a rally of nearly 14 percent since the start of the year, driven by a recovery in commodity prices.Many investors ...

Business & Finance - Industries & Sectors

Tesla cooperating with French authorities investigating car fire FRANKFURT: Tesla Motors is cooperating with French local authorities investigating a fire involving one of its Model S cars during a test drive in Biarritz, it said on Tuesday. "We are working with the authorities to establish the facts of the incident and offer our full cooperation. The passengers are all unharmed," a Tesla spokesman said, adding that passengers were able to get out of the car, a Model S 90 D, safely before the ...