Tag: billion

Google loses appeal of $2.8 billion fine in E.U. antitrust case.

Loknath Das

In a major ruling that bolsters the European Union’s efforts to clamp down on the world’s largest technology companies, Google lost an appeal on Wednesday to overturn a landmark antitrust ruling by European regulators against the internet giant. The decision by the Luxembourg-based General Court related to a 2017 decision by the European Commission, the bloc’s executive branch, to fine Google 2.4 billion euros (about $2.8 billion) for giving preferential treatment to its own price-comparison shopping service over rival services. The penalty was the first of three issued by Margrethe Vestager, the European Commission’s top…

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London to lose $900 billion to Frankfurt due to Brexit, German finance group claims

Loknath Das

Boris Roessler | Picture Alliance | Getty Images The skyscrapers of Frankfurt’s banking metropolis. London is predicted to lose up to 800 billion euros ($909 billion) of assets by March next year, as banks move their business operations to other hubs before Brexit takes place. Lobby group Frankfurt Main Finance (FMF) released the figure last week, which it calculated based on a confirmation that 30 financial institutions had applied to the European Central Bank to move their headquarters to Frankfurt. It claimed this number would be higher by March and…

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Amazon Great Indian Festival and Flipkart Big Billion Days Sale: The Best Mobile Deals Revealed So Far

Loknath Das

With less than one week left for Flipkart Big Billion Days sale and Amazon Great Indian Festival festive season sales, both the online marketplaces are slowly revealing some of their biggest deals and offers. Flipkart has already revealed a number of smartphones that will be available under its ‘Crazy Deals’ banner during the upcoming Big Billion Dayssale while Amazon continues to post teasers for its upcoming Great Indian Festival sale. We’ve already told you how you can prepare for the upcoming online festive season sales using a few simple tips and tricks. We also have…

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Ex-Googler Turns Mom’s Money Into a Billion Dollars

Loknath Das

HIGHLIGHTS With less than $1 million in capital he moved from California to Shenzhen Anker is now valued at about $1.1 billion Company is embedded with the supply chain in Shenzhen After Steven Yang left his coveted job at Google, he asked his mother whether he should take venture-capital money to fund his business idea. If his online consumer-electronics enterprise was a risky bet, she told him, go with the venture capitalists. But if building the business into something great was his destiny, he instead should use her money from a…

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HSBC’s $2.5 billion buy-back boosts shares as bank postpones profit goal

subhadip

HSBC (HSBA.L) announced a $2.5 billion share buy-back and pared ambitions to grow dividend payouts and returns as it took pragmatic steps to soothe investors amid slowing growth in its home markets of Britain and Hong Kong. The lender’s London-listed shares were trading 3.6 percent higher at 0808 GMT (4:08 a.m. ET) after the buy-back took the sting out of a 29 percent drop in January-June pretax profits, which matched analysts’ expectations. As Britain’s vote to leave the European Union clouds economic prospects and Hong Kong absorbs slower growth in…

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British graduates have spent £65 billion on unused degrees, research reveals

subhadip

British graduates are said to have spent tens of billions of pounds on university degrees they haven’t put to use in their current job roles, according to new research. Training company The Knowledge Academy recently carried out a study of 2,000 graduates to find 64 per cent felt their degree was not relevant to their current role. While results showed the average graduate polled left university with an average debt amount of £13,292 – with approximately 12 million graduates in the UK,according to the Office for National Statistics (ONS) – the…

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