Business

Toshiba says it will ‘support’ $15 bn takeover bid

(AFP) — Troubled Japanese conglomerate Toshiba said Thursday it will “support” a $15 billion takeover bid by a consortium led by investment fund Japan Industrial Partners. The long-awaited move follows years of turmoil for the company, which once symbolised Japan’s…

US stocks open higher as Disney gains

(AFP) — Wall Street stocks rose early Thursday, extending a rollercoaster week as Disney rallied following an announcement it is cutting 7,000 jobs. Shares of the entertainment giant jumped 3.9 percent as recently reinstated CEO Bob Iger’s message of austerity…

German antitrust watchdog opens probe into PayPal

(AFP) — Germany’s antitrust watchdog said Monday it had launched an investigation into PayPal to examine whether the US online payment giant was using its dominance to restrict competition. The Federal Cartel Office (FCO) said it would examine whether the…

Amazon to cut more than 18,000 jobs, CEO says

(AFP) — Amazon announced Wednesday it will cut more than 18,000 jobs from its workforce, citing “the uncertain economy” and the fact the online retail giant had “hired rapidly” during the pandemic. “Between the reductions we made in November and…

US stocks open lower in election aftermath

(AFP) — Wall Street stocks fell early Wednesday, threatening a three-day rally as markets digested inconclusive US election results as well as disappointing Disney earnings. Equities had risen the last three days on expectations that Republicans would win at least…