05052016Thu
Last update: Thu, 05 May 2016 11pm

Industries & Sectors

Business & Finance - Industries & Sectors

Yahoo takes hit with loss of AT&T contract SAN FRANCISCO: Yahoo's struggling Internet business took a hit on Wednesday with the loss of a long-time contract to manage the Internet portal and search for US telecommunication giant AT&T.AT&T confirmed that it is switching to Synacor to manage its att.net portal and applications including search, ending a business tie it had with Yahoo for 15 years."While this transition will occur over one to two years, it is another step as we integrate the entertainment and services our customers want," AT&T said in an email response to an AFP inquiry."This deal does not impact email addresses. The deal pertains to other web functions."Synacor, which is based in New York state, said in a release that it expected the contract to bring in $100 million in revenue annually after it was fully implemented in 2017."We are thrilled that AT&T will be using our managed portal services, mobile apps, and advertising solutions ...

Business & Finance - Industries & Sectors

Australia green lights AB InBev mega-takeover of SABMiller SYDNEY: Australia's corporate regulator Thursday approved brewing giant Anheuser-Busch InBev's buyout of rival SABMiller, which is now awaiting the go-ahead from authorities in other key markets including Europe.The Belgium-based group's US$122-billion acquisition, which was announced in November, would be the third largest in history if it clears all regulatory hurdles."The ACCC found that the proposed acquisition would not significantly change the current market structure," the Australian Competition and Consumer Commission said in a statement.It added ...

Business & Finance - Industries & Sectors

Two more Takata-linked airbag deaths in Malaysia: Honda KUALA LUMPUR: Two people have died in Malaysia after airbag inflators made by Japan's Takata exploded, carmaker Honda announced, raising the global toll to 13 in a scandal that has led to the biggest auto recall in US history.Tokyo-based auto parts giant Takata is struggling to deal with a defect that can send metal and plastic shrapnel from the inflator canister hurtling toward drivers and passengers when an airbag is deployed.The defect has been blamed ...

Business & Finance - Industries & Sectors

BHP, Vale shares slide on Brazil mining lawsuit SYDNEY: Shares in Anglo-Australian mining giant BHP Billiton fell further Thursday after Brazilian prosecutors filed a US$43.4 billion lawsuit over a mine accident that killed 19 people and wreaked environmental havoc.The firm sank 1.92 percent to Aus$18.43 -- but off intra-day lows -- following a 9.36 percent drubbing Wednesday as traders were taken aback by the sheer size of the claim.Brazilian iron ore leader Vale, co-owner of the Samarco iron mine with BHP, was also ...

Business & Finance - Industries & Sectors

Facebook’s ‘Live Tab’ would change the way you use Facebook The world largest social media platform Facebook, announced last month that it would be making some huge changes to its mobile apps. It was said that Facebook’s ‘live tab’ would take the center stage, which would push the Messenger button aside. According to Mashable, the new tab would offer users a dedicated place to find Facebook live videos and even stream their own. The highly anticipated tab has finally being rolled out to some Android ...

Business & Finance - Industries & Sectors

GM leads US$6.2bn deal day as issuers defy volatility NEW YORK: General Motors Financial and six other investment grade borrowers on Wednesday priced US$6.2bn of bonds with modest new issue concessions despite it being a risk-off day.Stocks fell, 10-year Treasury yields dropped below 1.8% and the CDX IG 26 index widened 2.1bp to 83.45bp after soft private jobs data added to worries about global growth ahead of the release of nonfarm payrolls data on Friday.GM, rated Ba1/BBB-/BBB-, priced a US$3bn three parter after tightening ...

Business & Finance - Industries & Sectors

Sanofi says sees ‘strong strategic’ fit with US cancer firm Medivation PARIS: Sanofi sees a strong strategic fit with US cancer drug maker Medivation, the French pharmaceuticals company's chief executive said on Wednesday after recently approaching the company about a tie-up. "We have a strong strategic complementarity with this company," Olivier Brandicourt said at the drugmaker's annual shareholder meeting without further elaborating. U.S firm Pfizer has approached Medivation to express interest in an acquisition, raising the possibility of a bid rivaling the $9.3 billion offer already ...