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Cisco chairman promises 'win-win' deal with China over network control

Cisco chairman promises 'win-win' deal with China over network control

DUBAI: Cisco’s executive chairman on Monday declined to say whether it would cede to China’s demands to be able to control equipment deployed in the world’s largest internet market, instead pledging to find a “win-win” solution. The world’s top maker of switching equipment and routers that run the Internet has a bet big on China, […]

December 7, 2015 | By | Reply More
Netflix content head says to double own shows next year

Netflix content head says to double own shows next year

REUTERS: Netflix Inc will focus on developing its own content next year and nearly double the number of original shows to 31 from 16, Chief Content Officer Ted Sarandos said on Monday. The video-streaming company has 10 feature films, 30 kids’ series, about a dozen feature documentaries, 10 stand-up specials and two documentary series in […]

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EU seeks new air traffic agreements in Gulf carrier battle

EU seeks new air traffic agreements in Gulf carrier battle

BRUSSELS/BERLIN: The European Commission is seeking a new European-wide air traffic agreement with Gulf states as a way of boosting European airlines against what some of them have termed unfair subsidies enjoyed by Middle East-based rivals. Europe’s aviation industry, which contributes 110 billion euros (US$119 billion) to EU gross domestic product, has been hit by […]

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Viacom CEO Dauman says Redstone making own healthcare decisions

Viacom CEO Dauman says Redstone making own healthcare decisions

REUTERS: Viacom Inc Chief Executive Philippe Dauman said he speaks with Executive Chairman Sumner Redstone several times a week and that the 92-year-old media mogul is in charge of his own healthcare. Dauman’s comments, at a UBS conference on Monday, come after a lawsuit filed by one of Redstone’s former girlfriends raised new questions about […]

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Wall St. slides as oil prices near seven-year low

Wall St. slides as oil prices near seven-year low

REUTERS: Wall Street fell on Monday as energy and raw material stocks took a hit, with oil prices falling to their lowest in nearly seven years. Brent crude and U.S. crude extended their decline and fell as much as 5 percent, after OPEC’s meeting last week failed to address a growing supply glut. A stronger […]

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Oil blackens energy stocks, euro slide supports eurozone equities

Oil blackens energy stocks, euro slide supports eurozone equities

LONDON: Slumping oil prices on Monday (Dec 7) blackened energy stocks while those of travel companies gushed higher, with eurozone markets buoyed as the eurozone sank lower. Meanwhile shares in Electrolux plunged after GE pulled the plug on plans to sell its appliance unit to its Swedish rival. Oil prices slumped close to a seven-year low after […]

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Airbus eyes 2015 win over Boeing as orders hit 1,000

Airbus eyes 2015 win over Boeing as orders hit 1,000

PARIS: Airbus orders topped 1,000 aircraft between January and November, sending its shares higher as it looked all but certain to win its annual race against US rival Boeing. Boeing, however, remained in comfortable shape to retain its title as the world’s largest jetliner producer as Europe’s Airbus continued to lag on deliveries. Shares in […]

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Chipotle shares fall as E. coli outbreak hits sales

Chipotle shares fall as E. coli outbreak hits sales

NEW YORK: Shares of Chipotle Mexican Grill fell on Monday after the restaurant chain projected much lower-than-expected profits on plunging sales due to an E. coli outbreak in the United States. Near 1630 GMT, Chipotle shares were down 3.2 per cent at US$543.31 after earlier falling as low as US$515.00. Following the market close on Friday, Chipotle erased its 2016 outlook […]

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Uber fined for misleading practices in France

Uber fined for misleading practices in France

PARIS: A French appeals court upheld charges against taxi app company Uber on Monday (Dec 7), fining it €150,000 (US$162,720) for “misleading commercial practices”. In January, France banned Uber’s low-price UberPOP service, which allowed unlicenced drivers to become taxi drivers using their own cars. Bans have also followed in Belgium, Germany and Holland, though the […]

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Clinton 'exit tax' to take aim at companies' inversion deals

Clinton 'exit tax' to take aim at companies' inversion deals

WASHINGTON: U.S. Democratic presidential candidate Hillary Clinton will announce a planned crackdown on corporations that shift profits overseas, including a new “exit tax” against so-called inversion deals, her campaign said on Monday. Clinton will call for spending the revenue raised by her proposed tax to boost manufacturing jobs in the United States, the Associated Press […]

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