A record fine for France was announced by a Paris court against Swiss banking giant UBS. The fine amounted to 3.7 billion euros or $4.2 billion and is a landmark in tax fraud related fines in the country.   The conviction of the largest bank of Switzerland was based on the court finding true...

There was political motivation behind the arrest of Chief Financial Officer of Chinese tech firm Huawei Meng Wanzhoum said the founder of the company Ren Zhengfei on in an interview of the BBC on Monday.  V is also the daughter of the founder.   "Firstly, I object to what the US has...

The manufacturing unit of the Japanese auto manufacturer Honda in Swindon, England would be closed down resulting in job losses for about 3000 employees, the company is set to announce.   According to a report by the Press Association quoting workers at the Wiltshire factory, the possible...

According to reports in the media, even as the French government is attempting to maintaining a strong hand in the Japanese auto maker Nissan, the Japanese firm is investigating the possibilities for implementing governance reforms and has appointed a special panel to help the company to draw out a...

PepsiCo Inc issued a warning for its 2019 earnings in its forecast for the year while announcing its fourth quarter results which were largely according to expectations of analysts. One of the largest coverage companies of the world said there would be a drop in 2019 earnings because of more...

The A380 superjumbo would no longer be freshly manufactured by Europe's Airbus, the plane maker announced on Thursday. This also marks an end to the dream of the company of being able to be a leader in the market in the 21st century with its cruiseliners and put an end to multiple years of...

The multibillion-dollar lawsuits against Johnson & Johnson’s baby powder alleging that the product was the cause of ovarian cancer asbestos-related mesothelioma has resulted in one of the important suppliers of the product filing for Chapter 11 bankruptcy this week.   According to a...

San Francisco-based McKesson has been warned against distribution of illegitimate drugs to pharmacies by the US Food and Drug Administration (FDA) under the Drug Supply Chain Security Act (DSCSA) in a strongly worded letter to the company.    The FDA had notified McKesson in September...

A line in an advertisement by sportswear company Reebok in Russia has created a huge controversy. The line when translated reads thus: “Sit not on the needle of men’s approval – sit on men’s face.”   This line was posted in the Instagram account of the company but was later deleted a few...

The United States based home and hotel renting platform company Airbnb would potentially face a fine of more than €12.5 million or US$14 million to the City of Paris. According to an interview given to a French newspaper on Sunday by the mayor of Paris, the US firm has violated local norms of...

A report published in the UK newspaper The Sun, Chinese telecom equipment giant Huawei would be blocked from participating in sensitive state projects because of new regulations drawn up by the UK government on foreing investments.   There are a very few firms in the world that have managed...