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Sony reaches settlement over 2014 security breach

Laguna Beach - AFP

Sony has reached a settlement in a US court to pay $8 million to employees affected by a massive cyberattack, officials said Tuesday. The settlement deal struck this week calls for payments of up to $10,000 to employees whose personal data was stolen. Sony will also pay for data protection and legal costs for the employees under the deal, which

France's EDF seeks new deadline for EPR nuclear reactor

Paris - AFP

French energy group EDF has formally asked the government for a three-year delay until 2020 to the deadline for launching its next-generation EPR nuclear reactor, according to a copy of the request seen by AFP Tuesday. EDF had been set a 2017 deadline for switching on the European Pressurised Reactor (EPR), a third-generation reactor design considered the most advanced and

Harley-Davidson shares crash as US sales downshift

New York - AFP

A slowdown in US sales of Harley-Davidson's iconic motorcycles hit third-quarter earnings and sent its shares skidding to a nearly three-year low on Tuesday. After a solid rebound from the 2008 financial crisis, the company admitted the air has gone out of sales growth and said it would lay off a part of its 6,500 workforce as its tries to

France's EDF in 123-megawatt US wind farm deal for P&G

Paris - AFP

French energy giant EDF said Tuesday it will construct a 123-megawatt wind farm in Texas for the manufacturing of Procter & Gamble's laundry, dish-washing and other household cleaning products. The link-up with the US group was revealed after Procter & Gamble joined 80 other firms Monday at the White House to sign the "American Business Act on Climate Pledge" committing

KFC owner Yum Brands to split off China business

New York - AFP

Yum Brands, the owner of KFC, Pizza Hut and Taco Bell, announced Tuesday it is splitting off its $6.9 billion China business into a separate company. The spinoff will be named Yum China, and focus on the US company's huge but struggling restaurant business in the country. The rest of the global business, which currently counts 41,000 restaurants in more

Demand puts Ferrari on pole for Wall Street debut

Rome - AFP

Ferrari makes its stock market debut on Wall Street on Wednesday with owner Fiat Chrysler hopeful the luxury sports car maker will roar off the starting grid. Against a backdrop of reported strong demand for the stock despite the problems other recent IPOs have encountered, Fiat Chrysler has placed nine percent of Ferrari's capital with investors across the globe. If

China 'to take one-third stake' in UK's Hinkley Point nuclear project

Paris - AFPChina has agreed to take a one-third stake in French power giant EDF's £25 billion (34-billion-euro) next-generation nuclear project at Hinkley Point in Britain, French business daily Les Echos said Tuesday. The deal comes as Chinese President

China has agreed to take a one-third stake in French power giant EDF's £25 billion (34-billion-euro) next-generation nuclear project at Hinkley Point in Britain, French business daily Les Echos said Tuesday. The deal comes as Chinese President Xi Jinping embarks on a four-day state visit to Britain to build closer business ties. China is taking a 33.5-percent share in the

India's Tata Steel to cut 1200 British jobs, blames China

London - AFP

India's Tata Steel on Tuesday said it would cut around 1,200 jobs at two plants in Britain, blaming the move in part on cheap imports from China. "This comes in response to a shift in market conditions caused by a flood of cheap imports, particularly from China, a strong pound and high electricity costs," Tata said in a statement coinciding

Amazon lawsuit aims at fake reviews

San Francisco - AFP

Amazon has filed suit seeking to crack down on more than 1,000 people offering fake reviews to sellers on its online marketplace. The US online retailer said its investigation showed a flourishing marketplace for "five star" reviews of products and services -- often for a price of $5 through the online service platform Fiverr. "At a time unknown to Amazon,

Valeant mulls sale of business tied to drug price hikes

New York - AFP

Controversial pharma company Valeant signaled Monday it expects to dispose of a business associated with large drug price increases and foresees much more modest price hikes in the future. Valeant Pharmaceuticals International plans "some modifications to our strategy," said chief executive Michael Pearson in a conference call with analysts. Pearson said Valeant's Neuro/Other segment, which has been heavily price-dependent and

EU countries warn of Volkswagen scandal fallout

Brussels - AFP

Several EU member states including major automaker France will urge Europe's pollution regulator to thoroughly assess the consequences of the Volkswagen emission scandal, according to a document seen by AFP Monday. "The environmental dimension needs to be clearly assessed and highlighted," said the letter, which was addressed to the EU's 28 environment ministers ahead of talks on October 26 in

Amazon steps up battle over New York Times workplace probe

Washington - AFP

Amazon on Monday renewed its criticism of a New York Times investigation of the US online giant's workplace, saying the newspaper ignored and omitted key facts about the company. Amazon spokesman Jay Carney said in a blog post that much of the article published in August was based on interviews with a former employee whose "brief tenure at Amazon ended

TDIC begins handover of Saadiyat Beach Villas phase 3

Dubai - WAM

Tourism Development and Investment Company, TDIC, announced today that it has begun handing over the luxury residences that comprise the third phase of the Saadiyat Beach Villas to homeowners. The handover has been taking place in phases, and the 77 villas are expected to be handed over in full by the end of November. Construction work started following the project's

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Laguna Beach - AFP

Paris - AFP

New York - AFP

Paris - AFP

New York - AFP

Rome - AFP

Paris - AFPChina has agreed to take a one-third stake in French power giant EDF's £25 billion (34-billion-euro) next-generation nuclear project at Hinkley Point in Britain, French business daily Les Echos said Tuesday. The deal comes as Chinese President

London - AFP

San Francisco - AFP

New York - AFP

Brussels - AFP

Washington - AFP

Dubai - WAM