Apple Inc has agreed to pay up to $500 million to settle litigation accusing it of quietly slowing down older iPhones as it launched new models, to induce owners to buy replacement phones or batteries.
Amazon will on Thursday seek to overturn an EU order to repay about 250 million euros ($277 million) in back taxes to Luxembourg at Europe's second-highest court, one of a series of high-profile cases marking the bloc's crackdown on unfair tax deals.
Equity markets around the world rose on Monday as the prospect that central banks will cut interest rates to soften the economic blow of the coronavirus heartened investors and drove U.S. government debt yields to record lows.
Oil prices rose over 4% on Monday, reversing an early fall to multi-year lows as hopes of a deeper cut in output by OPEC and stimulus from central banks countered worries about damage to demand from the coronavirus outbreak.
Wall Street surged on Monday as investors hunted for bargains following reassurances by central banks that they stood ready to counter the economic impact from the coronavirus following last week's steep sell-off.
U.S. factory manufacturing activity slowed in February as new orders contracted, reflecting worries about supply chain disruptions related to the fast-spreading coronavirus outbreak, which has revived financial market fears of a recession.
The International Monetary Fund and the World Bank on Monday said they stood ready to help member countries address the human and economic challenges of the fast-spreading coronavirus outbreak, including through emergency funding.
Chevron Corp is offering buyouts to reduce its U.S. oil exploration and production workforce, three sources told Reuters, as the oil major moves to cut costs in the face of sharply lower oil and gas prices. The No. 2 U.S. oil producer decided to reduce staff after reviewing operations late last year as energy prices fell, the sources said. Chevron confirmed that it was offering buyouts to workers in its shale gas business in the eastern United States but did not c
