Sony announced partnerships with several taxi firms to start a ride-hailing service in Japan on Tuesday. Hours later, Uber’s CEO Dara Khosrowshahi signaled his company’s intention to expand further into the country. Sony’s ride-hailing service will be based on its artificial intelligence (AI) technology, the company said in a press […]
CNBC News
Amazon is giving its Visa rewards cardholders 5% back when shopping at Whole Foods
Amazon is offering Prime members who use its Visa rewards card 5 percent cash back when they shop at Whole Foods, the company said Tuesday. The U.S. e-commerce giant launched the the Amazon Rewards Visa Card last year. Prime members in the U.S., who pay $99 a year for a […]
China would not be the only country hurt by US steel tariffs
Heavy tariffs and quotas on steel will hurt China, but other countries may well bear the brunt of such measures. “The fact is that China does export a lot of steel and aluminum to the United States, but frankly, Canada, Brazil, Mexico, other countries import more steel than does China,” […]
Why Barack Obama is speaking at a sports analytics conference
The Massachusetts Institute of Technology (MIT) Sloan Sports Analytics Conference being held this week in Boston will feature one very unique speaker, former President Barack Obama. For a lot of people, he’s a surprising choice to attend a sports analytics conference, but for the organizers who convinced him to attend, […]
General Motors is planning to produce two new car models in South Korea
General Motors plans to produce two new car models in South Korea, a local lawmaker said, quoting GM executive Barry Engle as saying this at a meeting with South Korean members of parliament. Engle, who is president of GM International, did not elaborate on whether the company’s plan for the […]
Indian billionaire jeweller denied involvement in $1.8 billion bank fraud case
Indian billionaire jeweller Nirav Modi has denied allegations that he was involved in a $1.8 billion loan fraud at Punjab National Bank (PNB), his lawyer told Reuters on Tuesday. Indian federal police have alleged that Modi and others conspired with several employees of the second-largest state-run bank to fraudulently obtain […]
Luxury travel agencies are still growing — but watch out for the millennials
Travel agents may seem passe in the age of countless apps and websites, but in the luxury travel sector, traditions aren’t being tossed away just yet. In fact, 40 percent of luxury travel trips are booked through travel agencies compared to just 27 percent of all international outbound trips, according […]
GM offers $2.2 billion debt for equity swap in return for Seoul’s support
General Motors has offered to convert debt of around $2.2 billion owed by its ailing South Korean operations into equity in exchange for financial support and tax benefits from Seoul, four sources with direct knowledge of the matter said. The restructuring proposal comes after the Detroit automaker announced last week […]
Europe’s largest bank sees reported profit rise more than 140 percent
HSBC’s fortune turned around in 2017 with an increase in the year’s profit. The bank, largest in Europe by assets, said Tuesday its full-year profit before tax rose 10.9 percent to $20.99 billion after adjusting for foreign currency translation and one-off items. That’s beating the estimated $19.59 billion by Reuters […]
Venezuelan refugee crisis could eclipse Syria’s, economist predicts
Syria’s civil war has resulted in what’s been dubbed the world’s largest refugee crisis, but another humanitarian calamity may soon surpass it. The millions of Venezuelans fleeing their turmoil-hit nation could eventually overshadow the number of Syrian refugees, according to an economist. “The next refugee crisis is not being driven […]