Business and Economy

Business and Economy Latest News

US imposes $300mn penalty on Seagate over Huawei shipments
US imposes $300mn penalty on Seagate over Huawei shipments
by  AFP

US authorities on Wednesday imposed a $300 million penalty on Seagate Technology, to resolve alleged violations of export controls related to selling hard disk drives to Huawei Technologies, the Commerce Department said. According to the bureau's investigation, Seagate was involved in the shipment of more than 7.4 million hard disk drives without authorization. bys/tjj

Tesla profits fall on vehicle price cuts sending shares down
Tesla profits fall on vehicle price cuts sending shares down
by  AFP

Tesla reported a drop in first-quarter earnings Wednesday as price cuts at Elon Musk's electric vehicle company boosted demand but hit profit margins. The company said its profit margins had been trimmed at "a manageable rate," as it pointed to a "unique opportunity for Tesla" while signaling more price cuts ahead.

No more red envelopes: Netflix ejects DVD service
No more red envelopes: Netflix ejects DVD service
by  AFP

After shipping out more than five billion DVDs in its trademark red envelopes, Netflix has finally called time on the movies-by-mail subscription service that launched the Hollywood streaming colossus.

Energy

Money

Industry

Technology

Economy