Leading US oil company ExxonMobil said its latest quarter profits numbered $ 2.8 billion, which is 58% less than the previous year, and the annual profit fell by half - from $ 32.5 billion to $ 16.2 billion. ExxonMobil’s management noted that in the current difficult conditions, the company intends...

In what is being referred to as an enormous Ponzi scheme, local authorities in China are investigating allegations where a Chinese online finance company bilked investors out of more than $7.6 billion, spent lavishly on gifts and salaries and buried the evidence.   The online finance...

With Barclays admitting it broke the law and agreeing to pay $70 million, Barclays and Credit Suisse have settled federal and state charges that they misled investors in their dark pools, federal and New York state officials said on Sunday.   Marking the two largest fines ever paid in...

While the project is no more a secret, what the market wants to know is now is how much is Google-parent Alphabet Inc spending on "moonshots" – self-driving cars. Apart from this there is also growing inquisitiveness about expenditure for its glucose-monitoring contact lenses, Internet balloons and...

The financial terms of the deal between Nokia and South Korea's Samsung that settled a lengthy patent dispute between the companies have left the investors disappointed. The settlement deal was announced on Monday.   After the Finnish firm said the Samsung deal would lift patent unit Nokia...

British consortium of retailers (BRC) said the country’s stores last year were deprived of goods and funds for the record sum of £ 613 million because of crimes. There is still a large part of the losses, which shops are incurring from gang robberies, but researchers note intensification of...

With analysts forecasting a one-time payment of hundreds of millions of euros for the Finnish company, Nokia and Samsung are expected to settle their two-year patent dispute within days.   In order to settle additional compensations for a five-year period starting from early 2014, Nokia had...

The US Treasury official in charge of international tax policy, Robert Stack claimed that companies like Apple, Amazon, Starbucks and McDonald’s are being unfairly targeted by the European Commission over tax avoidance.   “We are concerned that the EU commission appears to be...

As Apple seeks new sources of growth beyond the iPhone, the IT giant has reportedly built prototypes of headsets that could one day rival Facebook’s Oculus Rift or Microsoft’s Hololens and has assembled a large team of experts in virtual and augmented reality.    Sources in the...