Category: US
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Investors demand answers, new phone from Samsung after Note 7 fire fiasco
Samsung Electronics Co Ltd needs to quickly find the cause of the fires that led to it pulling its Galaxy Note 7 smartphones and get a new model to market, investors said on Wednesday, as shares in the company slipped to a one-month low. The world’s top smartphone maker on Tuesday scrapped the $882 flagship…
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US:President Obama praises US ‘fiscal cliff’ deal
US President Barack Obama has hailed a deal reached to avert a “fiscal cliff” of huge tax rises and spending cuts. After the House of Representatives passed the bill by 257 votes to 167, Mr Obama said the measures were “just one step in the broader effort to strengthen the economy”. It raises taxes for…
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Exclusive: Wells Fargo account scandal extends to small business – U.S. senator
The scandal over improper sales practices at Wells Fargo & Co extended to thousands of small-business owners, according to a U.S. lawmaker, raising questions about the scope the bank’s issues with unauthorized accounts. In a Sept. 29 letter viewed by Reuters on Tuesday, Sen. David Vitter, a Louisiana Republican, demanded that Wells Fargo Chief Executive…
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Tesla posts 70 percent rise in quarterly deliveries, backs 2016 target
Tesla Motors Inc (TSLA.O) said on Sunday its third-quarter deliveries rose 70 percent to 24,500 cars, following production improvements, cheaper lease deals and reports of discounts on some vehicles. Deliveries are a key metric of performance for the luxury electric vehicle manufacturer, which had missed these targets in the previous two quarters. The improved deliveries…
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End of an era: BlackBerry will stop making its own phones
It’s the end of an era for BlackBerry. The company, famous for making cellphones with physical keyboards that were once so popular people nicknamed them Crackberries, has decided to stop making its own devices. BlackBerry said on Wednesday that it will rely on partners to manufacture the phones, which will still have BlackBerry’s look and…
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![South African Airlines marks one year of Accra-Washington flights [photos]](https://citibusinessnews.com/wp-content/uploads/2016/08/IMG-20160829-WA0010-1.jpg)
South African Airlines marks one year of Accra-Washington flights [photos]
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The South African Airlines (SAA) has celebrated one year of its non- stop travel between Ghana and the United States. The SAA, launched the Accra Washington route on August 2, to among other things strengthen SAA’s presence in West Africa. The event was attended by the South African High Commissioner to Ghana, H.E Lulu Xingwana, …
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U.S:Self-driving taxi trial kicks off in Singapore
Self-driving cars and taxis are the buzz of the industry. Everyone seems to be doing it, trying grab headlines with every step forward or new trial phase. But the real deal always seemed to be still years in the future. Now, here in Singapore, you can in fact hop into a driverless taxi and go…
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U.S:Schooled in the short run, central banks struggle with a long-term role
Schooled in economic thinking that confines monetary policy to the short run, central bankers gathering in Jackson Hole, Wyoming, are grappling with a singular change: whether they can take over as guardians of long-term growth with programs that may stay in place and influence markets for decades to come. The debate, being carried out in…
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U.S:Men’s sales march Jimmy Choo higher
Designer shoe brand Jimmy Choo has seen higher revenues, partly because of increasing sales of men’s designs. Men’s shoes are the fastest-growing sector for the brand, representing 8% of global revenue. The company also said in its half-year report that the weakness of the pound since the Brexit vote had also helped boost the company’s…
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U.S. banking regulators focused on cyber security after SWIFT attacks
U.S. banking regulators said on Wednesday they are focused on cyber security risks and controls for U.S. financial institutions after attacks earlier this year involving the global financial network known as SWIFT. In a letter responding to questions from Representative Carolyn Maloney, a Democrat from New York, the regulators also said the U.S. Treasury Department’s…