Business

SEC charges broker-dealers, investment advisors over cybersecurity failures

Units of three broker-dealer and investment advisory firms agreed to pay hundreds of thousands of dollars in penalties to settle charges from the U.S. Securities and Exchange Commission (SEC) over cybersecurity failures, the regulator said on Monday. The SEC charged KMS Financial Services, five units of financial firm Cetera, and two units of Cambridge Investment […]

Business

WTO to examine U.S.-China dispute on grain import quotas

The World Trade Organization said on Monday it would review a long-standing dispute between the China and the United States on Beijing’s use of import controls for rice, wheat and corn. The Geneva-based trade watchdog ruled in 2019 against China’s use of tariff-rate quotas for agricultural imports, which Washington successfully argued had limited market access […]

Business

Amazon asks India regulator to order withdrawal of Future-Reliance deal approval -letter

Amazon.com Inc (AMZN.O) has asked India’s market regulator to order withdrawal of conditional approval given to its warring partner Future Group’s $3.4 billion retail assets sale, citing a court ruling in the U.S. company’s favour. Amazon has for months been locked in a dispute with Future, accusing India’s second-largest retailer of violating some pre-existing contracts […]

Business

FAA still reviewing Boeing 777 engine fix after Denver incident

The Federal Aviation Administration (FAA) said Monday it is continuing to review Boeing 777-200 planes equipped with Pratt & Whitney (PW) engines like the one involved in a United Airlines emergency landing in February in Denver. FAA Administrator Steve Dickson told a U.S. House committee in May that the agency was going to mandate strengthening […]

Business

U.S. pending home sales drop for second straight month in July

Contracts to purchase previously owned U.S. homes declined for the second consecutive month in July in step with limited supply that’s been unable to keep up with demand from potential homebuyers. The National Association of Realtors (NAR) said on Monday its Pending Home Sales Index, based on contracts signed last month, fell 1.8% after dropping […]

Business

Singapore’s Shopee changes the game in Brazil’s e-commerce sector

Sea Ltd’s (SE.N) Shopee took just two years to become Brazil’s most-downloaded shopping app, winning users to its low-cost marketplace with its game-changing approach to e-commerce: in-app mini-games offering coupons to winning users. The Singapore-based company has combined online shopping with the gaming nous of its separate mobile game arm Garena – creator of “Free […]

Business

Food for thought? Nestle taps students and startups in R&D drive

Food group Nestle (NESN.S) inaugurated the biggest site for its “R&D Accelerator” programme on Monday, aiming to work with startups and students to speed the development of new products. The food industry has to be nimble to keep pace with consumers increasingly concerned about their health and the planet, who want to eat products with […]