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...

Work is soon to begin for a new fleet of Air Force One presidential aircraft by Boeing Co soon after the airplane maker won a contract to start the preliminary work based on its 747-8 jumbo jet, the Pentagon said on Friday.   According to the Pentagon's daily digest of arms deals, the...

Airbus would supply 118 plans to Iran. The European airplane manufacturing company signed a deal to this effect worth $25bn (€22bn) at list prices.   This is being tipped as the biggest deals signed since Western sanctions against Tehran were lifted.   The deal was signed between the...

As the world's top restaurant chain aims to grow sales in China after being hit by a fast-food scandal in 2014, McDonald's Corp plans to launch 150 custom outlets in the country.   The outlets would allow clients to purchase customized burgers to suit their tastes.   Regina Hui,...

A slew of trials – 40 to be precise, would have to be faced by chemical maker DuPont in the year starting April 2017. These plaintiffs involve people who claim that cancer had developed in them due to the exposure to a toxic chemical that is used by the company to make Teflon and which leaked from...

The US Justice Department has reached an agreement on cooperation with 80 Swiss banks that have agreed to pay a fine to avoid a judicial inquiry. As a result, the US government imposed on financial institutions in Switzerland more than $ 1.3 billion in fines. The US Justice Department said on...