Category: Business

WASHINGTON – President Donald Trump said on Monday that he would save a deal to boost American control of Chinese-owned popular social media app TikTok if possible, but would “cut it off” if not. Speaking to reporters before departing the White House, Trump said he had given a “preliminary ok” to a plan for U.S. […]

Xbox maker Microsoft Corp MSFT.O said on Monday it would acquire ZeniMax Media for $7.5 billion in cash, its biggest gaming acquisition ever as it seeks to strengthen its video game offerings in its rivalry with Sony Corp’s 6758.T PlayStation. ZeniMax, parent company of Bethesda Softworks, has developed hits including Fallout and Doom. It was […]

NEW YORK – Stocks across the world hit their lowest in seven weeks and other risk assets also sold off on Monday on concerns over renewed lockdown measures in Europe and Britain, as well as the United States’ inability to agree on fiscal stimulus that would support millions of unemployed. Oil prices fell more than […]

HONG KONG/LONDON – Global banks faced a fresh scandal about dirty money on Monday as they sought to limit the fallout from a cache of leaked documents showing they transferred more than $2 trillion in suspect funds over nearly two decades. Britain-based HSBC Holdings Plc HSBA.L, Standard Chartered Plc STAN.L and Barclays Plc BARC.L, Germany’s […]

NEW YORK – Oil prices plunged about 5% on Monday, weakening as rising coronavirus cases stoked worries about global demand, and a potential return of Libyan production bolstered oversupply fears. Crude oil followed other equities and commodities markets in turning risk-averse on Monday as rising COVID-19 infection rates in Europe and other countries prompted renewed […]

NEW YORK – U.S. gasoline prices tumbled in Monday’s energy market selloff, as worries about weak demand for fuel returned as the threat of Tropical Storm Beta waned, market analysts said. RBOB gasoline futures on the New York Mercantile Exchange RBc1 fell more than 5% to a session low of $1.161 per gallon, ending a […]

SAO PAULO – U.S. private equity firm General Atlantic LLC and Japan’s SoftBank Group Corp 9984.T are leading a 580 million reais ($107.25 million) funding round in Brazilian facial biometrics and digital admission company Acesso Digital, it said in a statement on Monday. Both General Atlantic and SoftBank will hold a minority stake in Acesso […]