Business
China’s ZTE will pay $1B fine in deal with US
ZTE has reportedly reached an agreement in principle with the Trump administration to lift the Department of Commerce's ban on American companies selling equipment to the Chinese telecommunications giant. components manufacturers from selling to Chinese telecom and handset giant, ZTE (HKG:0763). Amid mounting trade tension between the United States and China, lawmakers have grown increasingly critical of the national security threat from telecom companies such as ZTE and Huawei.
Business
Oil falls after United States crude inventories unexpectedly rise
Saudi Arabia and Russian Federation were already discussing raising OPEC and non-OPEC oil output by roughly 1 MMBPD, sources familiar with the matter said in early May. Oil prices were stable on Friday, supported by Venezuela's struggles to meet its supply obligations and by ongoing output cuts led by producer cartel OPEC, although surging United States crude output was looming over markets.
Business
Ghana football head Kwesi Nyantakyi banned by Fifa over 'cash gift'
David Prah argued that Kwesi Nyantakyi could not have mentioned the former President's name in his statement to the CID if he ( Kwesi Nyantakyi ) did not know what he was talking about. A press release from FIFA, yesterday, announced Nyantakyi's ban from all football-related activities at both national and worldwide levels, leaving him with no option than to resign.
Business
Buffett And Dimon: No More Quarterly Profit Forecasts
JPMorgan Chase CEO Jamie Dimon and billionaire investor Warren Buffett are calling on CEOs to move away from issuing quarterly profit "guidance" to Wall Street analysts, arguing that the financial markets' focus on short-term results harms the economy.
Business
Google says it won't build AI for weapons
Pichai said the company will "continue our work with governments and the military in many other areas". Google pledged not to use its powerful artificial intelligence for weapons, illegal surveillance and technologies that cause "overall harm".
Business
Porsche’s Mission E all-electric vehicle becomes the ‘Taycan’
The Taycan has been dubbed the "Tesla-slayer" by some automotive journalists. The company also marked the occasion by revealing a 911 Speedster Concept, an open-top version of its iconic sports auto. The vehicle was known as the Mission E since the unveiling of the concept in 2015, but it was always known that the production version will most likely feature a name that works with Porsche's current naming scheme.