Oracle’s stock jumps as company returns to growth

Oracle CEO Safra Catz delivers a keynote address during the Oracle OpenWorld conference on September 17, 2019 in San Francisco. Oracle CEO Safra Catz kicked off day two of the 2019 Oracle OpenWorld with a keynote address. Justin Sullivan | Getty Images News | Getty Images Oracle shares rose as much as 6% in extended trading on Thursday after the software maker reported fiscal first-quarter earnings and quarterly guidance that were better than analysts had expected. Here’s how the company performed: …

AstraZeneca trial pause is ‘not necessarily’ a setback, British health minister says

An engineer shows an experimental vaccine for the COVID-19 coronavirus that was tested at the Quality Control Laboratory at the Sinovac Biotech facilities in Beijing. Nicolas Asfouri | AFP | Getty Images LONDON  — The U.K.’s health minister on Wednesday rushed to defend AstraZeneca’s decision to pause a closely-watched coronavirus vaccine trial due to safety concerns, saying that the decision is not necessarily a setback to its development. AstraZeneca announced Tuesday that the pause was due to a potentially unexplained …

SMIC, China’s largest chipmaker, plunges 23% after U.S. says it could blacklist the firm

A close up image of a CPU socket and motherboard laying on the table.   GUANGZHOU, China — Shares of Semiconductor Manufacturing International Corp (SMIC), China’s biggest contract chipmaker, plunged over 23% on Monday, after the U.S. government said it was considering putting export restrictions on the company. The firm’s Hong Kong-listed shares were down 23.89% at 18 Hong Kong dollars as of 3:24 p.m. local time. SMIC’s recently-listed Shanghai shares were down 11.29% at 58.8 yuan. The U.S. Department of …

Untangling Jerry Falwell Jr.’s Finances From Liberty University Won’t Be Easy

WASHINGTON, Sept 4 (Reuters) – After parting ways with President Jerry Falwell Jr in the wake of personal scandals, Liberty University has hired a firm to investigate “all facets” of Falwell’s tenure, including the school’s financial and real estate operations. There may be much to untangle. Falwell, who took over as president of Liberty in 2007 after years as a lawyer handling its real estate interests, intertwined his personal finances with those of the evangelical Christian university founded by his …

Big Tech finds a way to pass on the cost of digital taxes in Europe

External View of the Apple store on Fifth Avenue on August 19, 2020 in New York City. VIEW press | Corbis News | Getty Images Apple has announced that it will increase its charges for app developers, as it becomes the latest tech giant to pass on some of the costs of new digital taxes to smaller businesses. The move, announced Tuesday, comes after countries including the U.K., France, Italy and Turkey implemented digital services levies, which force tech giants to pay more taxes. However, Apple …

S&P 500 and Nasdaq close at record highs to start September, Dow jumps more than 200 points

Stocks rose on Tuesday, led by tech shares, as traders kicked off a historically tough month for the market on the right foot and built on Wall Street’s best August performance since the 1980s. The Dow Jones Industrial Average gained 215.61 points, or 0.8%, to close at 28,645.66. The S&P 500 climbed 0.8% to 3,526.65 and the Nasdaq Composite advanced 1.4% to 11,939.67. Both the S&P 500 and Nasdaq hit all-time highs. Apple led the gains in tech, rising 4%. The stock …

Google Said It Would Invest $10 Billion In India. Nearly Half Of It Is Going To The Country’s Richest Man.

On Monday, Google announced that it will invest $10 billion in India over the next few years. Two days later, the company revealed a key detail: Nearly half of the money will go to a top telecom operator owned by Asia’s richest man. The internet giant will invest $4.5 billion into Jio Platforms as part of a plan to provide “increase access for the hundreds of millions in India who don’t own a smartphone,” Google CEO Sundar Pichai tweeted Wednesday. …

China tightens tech export controls potentially jeopardizing TikTok deal, reports say

The TikTok app icon sits displayed on a smartphone in front the national flags of China and the U.S. in this arranged photograph in London, U.K., on Monday, Aug. 3, 2020. Hollie Adams | Bloomberg | Getty Images An updated export rule from China could jeopardize the sale of TikTok’s  U.S. operations, according to reports published Saturday in The Wall Street Journal and The New York Times.  According to the reports, China updated its export control rules to incorporate technology that could include TikTok, a claim …

Coronavirus live updates: Improvement in virus mortgage bailout stalls; MGM Resort lays of 25% of U.S. workforce

The Trump administration announced the acquisition of 150 million new rapid coronavirus tests manufactured by Abbott Labs as part of a roughly $750 million deal, cornering nearly all of the supply the company expects to produce through 2020. The new test is cheap, produces results quickly and can be administered without the use of scarce and technical lab equipment. The Department of Health and Human Services said the tests will “potentially” be deployed to schools and “special needs populations.” Here …

Walmart is teaming up with Microsoft on TikTok bid

Walmart said it’s teaming up with Microsoft in a bid for TikTok. The retail giant confirmed to CNBC that it’s interested in buying the popular short-form video application. Walmart shares are up 5% on the news. TikTok’s Beijing-based parent company, ByteDance, is nearing an agreement to sell its U.S., Canadian, Australian and New Zealand operations in a deal that’s likely to be in the $20 billion to $30 billion range, sources say. It has not yet chosen a buyer, but could announce …

Dow erases losses for 2020, jumps 200 points with a boost from the Fed

Stocks rose on Thursday after the Federal Reserve unveiled a new framework that could keep interest rates lower for a longer period of time.  The Dow Jones Industrial Average gained 202 points, or 0.2%. Those gains erased the 30-stock average’s losses for 2020. The S&P 500 climbed 0.3% — briefly topping 3,500 for the first time ever — and the Nasdaq Composite was marginally higher. In a speech, Fed Chairman Jerome Powell said the central bank formally agreed to a policy …

New Zealand stock exchange NZX hit by probable second cyber attack

An electronic screen displays international currency rates and the NZ markets on the side of a building on February 7, 2018 in Auckland, New Zealand. Phil Walter | Getty Images News | Getty Images Trading on New Zealand’s stock exchange was halted on Wednesday after a likely second cyber attack, bourse operator NZX said. NZX was working with its network service provider to fix further connectivity issues which appeared similar to Tuesday’s breakdown caused by a cyber attack, it said in a statement. …

Rio Tinto CEO loses $3.5M over destroyed indigenous sites

Rio Tinto says its chief executive Jean-Sebastien Jacques will lose around $3.5 million in bonuses over the destruction of sacred Indigenous sites By ROD McGUIRK Associated Press August 25, 2020, 1:45 AM 3 min read CANBERRA, Australia — Rio Tinto chief executive Jean-Sebastien Jacques will lose around $3.5 million in bonuses due to the destruction of Australian Indigenous sacred sites to access iron ore, the mining company said on Monday. The Anglo-Australia mining giant announced that three executives would lose …

AMP executive claims company downplayed her sexual harassment complaint

The woman at the centre of a sexual harassment claim against AMP executive Boe Pahari has accused the company of attempting to downplay the accusations levelled against him, alleging through lawyers that the private capital boss engaged in “serious, persistent and wide-ranging” conduct against her. Breaking her silence to “defend my reputation by setting the record straight”, Julia Szlakowski, a former AMP employee based in California, has for the first time released details of the allegations levelled against Pahari concerning …

Wirecard is finally getting booted from Germany’s blue-chip DAX index after insolvency

Wirecard’s logo can be seen on a smartphone held in front of a stock market chart. Alexander Pohl | NurPhoto | Getty Images Insolvent payments company Wirecard will finally be ejected from Germany’s benchmark DAX index this month after exchange operator Deutsche Boerse announced a change in its selection rules. Deutsche Boerse said Thursday that, from Aug. 21, a rule change will be implemented that allows it to remove insolvent companies from the DAX with two trading days’ notice. It …

Daimler to Settle U.S. Emissions Charges for $2.2 Billion

The agreement is a small fraction of the sum that Volkswagen paid after admitting to emissions cheating in 2015. Daimler is settling charges that it programmed Mercedes-Benz cars and trucks to cheat on emissions tests.Credit…Felix Schmitt for The New York Times   The German automaker Daimler said Thursday that it had agreed to pay $2.2 billion to settle accusations that Mercedes-Benz cars and vans sold in the United States were programmed to cheat on emissions tests. The sum, which covers …