Business

Huawei announces royalty rates for 5G phone technology

Huawei Technologies announced royalty rates for the use of its 5G phone technology for the first time, in a move its chief legal officer said was an effort to increase transparency at an event on Tuesday. The company was put on an export blacklist by former U.S. President Donald Trump in 2019 and barred from […]

Business

Nokia to cut up to 10,000 jobs over next two years

Nokia on Tuesday announced plans to cut up to 10,000 jobs within two years to trim costs and invest more in research capabilities, as the Finnish telecoms group seeks to step up its challenge to Sweden’s Ericsson and China’s Huawei. After taking over the top job last year, Chief Executive Pekka Lundmark has been making […]

Business

Nasdaq to host stock trading venue for PureStream Trading Technologies

Nasdaq Inc said on Tuesday it will host a new private stock trading venue for PureStream Trading Technologies Inc, a startup that aims to help big institutional investors get their orders done faster, without impacting the market. The new trading platform is expected to go live by the end of June, pending regulatory approval, and […]

Business

Volkswagen CEO: 100,000 cars lost due to chip shortage

Volkswagen was unable to build 100,000 cars due to an ongoing chip shortage that has hit the automotive sector this year, Chief Executive Herbert Diess said, adding the group would not be able to make up for the shortfall in 2021. Diess, speaking at Volkswagen’s annual press conference, said that the carmaker would secure future […]

Business

Volkswagen CEO: no need for action on potential Porsche IPO

Volkswagen boss Herbert Diess said he sees no need for action when asked about a potential listing of the group’s Porsche luxury division, adding the unit’s cash flow was key to Volkswagen’s turnaround. “That’s why you need to think very very hard about every single step,” Diess said at the group’s annual press conference, adding […]

Business

Activist Toshiba shareholders tipped to win crucial vote on independent probe this week

In a watershed moment for Japanese corporate governance, Toshiba Corp shareholders will vote this Thursday on whether there should be an independent probe into allegations that investors were pressured ahead of last year’s annual general meeting. Effissimo Capital Management, Toshiba’s biggest shareholder, and other activist investors are expected to carry the day after Effissimo’s proposed […]

Business

Amsterdam to allow Airbnb rentals in city centre after court order

The city of Amsterdam will allow residents of its historic centre to offer their homes to tourists again, after a court ordered it to scrap a ban on vacation rentals. Amsterdam’s left-wing city council last year issued an outright ban on rentals through Airbnb and other platforms in three areas that make up its central […]