Chinese Court Seizes Millions in Assets of LeEco Founder as Company's Troubles Grow
Chinese Internet tycoon and LeEco founder Jia Yueting’s ambition to challenge the likes of Apple and Tesla looks even more in doubt after $182 million of his assets were frozen by a Shanghai court following unpaid loans. Jia and LeEco came in for stinging criticism from Chinese media Wednesday, which warned that the Internet streaming company and hardware manufacturer was set to fall into further trouble, with the asset freeze as only the beginning. LeEco’s development “is too big, too quick an..>> view originalSE Asia Stocks-Most gain ahead of Fed minutes; S'pore up over one pct
By Chandini Monnappa July 5 (Reuters) - Most Southeast Asian stock markets ended higher on Wednesday with Singapore gaining more than one percent while investors awaited minutes of the U.S. Federal Reserve's last meeting, moving past tensions over North Korea. Investors around the globe are awaiting minutes of the Fed's June meeting to gauge how committed it was to hiking rates again this year and for any details on plans to wind back its massive balance sheet. "The apprehensions..>> view originalUS stock glitch: What can you buy for $123.47?
A slightly odd, temporary US stock market error saw the share price of several major tech firms wrongly listed at the same price.For a short time on Monday night, US time, firms including Apple, Microsoft, Amazon eBay and Zynga were all priced at $123.47 on the Nasdaq.Nasdaq blamed the "improper use of test data" by a third party and said the situation had been fixed. And with markets closed for the 4 July holiday, there'll be no impact on trading.But it got us wondering. What can you buy for..>> view originalQatar signals LNG price war for market share in Asia
SINGAPORE (Reuters) - Qatar's plan to boost liquefied natural gas (LNG) output by 30 percent is the opening shot in a price war for customers in Asia pitting the Gulf state against competitors from the United States, Russia and Australia. Qatar, facing regional isolation in a diplomatic dispute with its Gulf neighbors, took energy markets by surprise on Tuesday when it said it would raise its LNG production to 100 million tonnes per year - equivalent to a third of current global supplies - withi..>> view originalUPDATE 1-Ukraine software firm says computers compromised after cyber attack
KIEV (Reuters) - The Ukrainian software firm at the centre of a cyber attack that spread around the world last week said on Wednesday that computers which use its accounting software are compromised by a so-called "backdoor" installed by hackers during the attack. The backdoor has been installed in every computer that wasn't offline during the cyber attack, said Olesya Bilousova, the chief executive of Intellect Service, which developed M.E.Doc, Ukraine's most popular accounting software. Last..>> view originalWill Tesla Disrupt Long Haul Trucking?
Tesla (NASDAQ:TSLA) tells us that come September, it will unveil a powerful, long-range, all-electric semi truck. Tesla isn't talking about a short range, specialty truck for delivering feathery light croissantes from the bakery to some Silicon Valley Sunday brunch. This Tesla truck is supposed to haul heavy line-haul freight over long distances, across mountain ranges from one end of America to the other. Tesla's electric truck will supposedly compete with the best diesel rigs on the basis of c..>> view originalEmirates, Turkish Airlines say laptop ban lifted on US flights
DUBAI/ISTANBUL The United States has lifted the in-cabin ban on laptops and other large electronic devices on U.S.-bound flights from Dubai and Istanbul, Emirates [EMIRA.UL] and Turkish Airlines (THYAO.IS) said on Wednesday.The announcements come three days after the ban was lifted on Etihad Airways' flights to the United States from Abu Dhabi International Airport.The ban on U.S. flights from Dubai International, the world's busiest airport for international travel, has been lifted after new ..>> view originalWorldpay shares soar on bid approaches from Vantiv, JPMorgan
The payment processing industry has grown rapidly as consumers shun cash. The number of non-cash transactions rose 8.9 percent in 2014 to reach 387.2 billion, according to Capgemini's World Payments Report. While banks have been trying to develop and buy more sophisticated technology, payment service companies like PayPal and Worldpay gained a large part of the market share during the e-commerce boom. Set up in 1989, Worldpay was spun out of British bank Royal Bank of Scotland to private-equit..>> view original'Macron effect' helps lift eurozone PMI in June
The eurozone's economic recovery likely accelerated in the three months to June, according to business surveys that have been a good guide to growth in the past. The pickup in growth has fueled speculation that the European Central Bank will soon consider a reduction in the stimulus measures it has put in place since mid-2014, but inflation has remained surprisingly weak and policy makers are therefore expected to proceed with caution. Data firm IHS Markit said its composite Purchasing Managers..>> view originalVolvo Just Said Goodbye to the Traditional Car Engine
All Volvo car models launched after 2019 will be electric or hybrids, the Chinese-owned Swedish company said Wednesday, making it the first major traditional automaker to set a date for phasing out vehicles powered solely by the internal combustion engine.Volvo will continue to produce pure combustion-engine cars from models launched before that date, but its move signals the eventual end of nearly a century of Volvos powered solely that way.While electric and hybrid vehicles are still only a sm..>> view original
Wednesday, July 5, 2017
Chinese Court Seizes Millions in Assets of LeEco Founder as Company's Troubles Grow and other top stories.
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