Zuckerberg Loses More Than $15 Billion in Record Facebook Fall

Facebook Chief Executive Mark Zuckerberg’s fortune took a more than $15 billion (roughly Rs. 1.03 lakh crores) hit on Thursday, as the social media company suffered the biggest one-day wipeout in US stock market history a day after executives forecast years of lower profit margins. At least 16 brokerages cut their price targets on Facebook after Chief Financial Officer David Wehner … Read more

Flipkart Billion Capture+ Smartphone With Dual Cameras to Launch on November 15

Flipkart’s Billion brand, which was announced in July this year, is gearing up to launch its first smartphone in the country. The e-commerce retailer has confirmed the launch of its Billion Capture+ smartphone in India on November 15. A dedicated page for the Billion Capture+ has been unveiled, confirming some of the features of the new Billion … Read more

Google I/O 2017 By the Numbers: 2 Billion Android Devices, 500 Million Photos Users, and More

It’s no secret that Google is huge. It has the Android platform – the biggest, most widely used mobile platform in the world. And to reaffirm its position, Google CEO Sundar Pichai dished out some massive numbers during at the the Keynote address kicking off Google I/O 2017. We take a look at some of … Read more

RBS writes off $4 billion for US mortgage mis-selling cases

Royal Bank of Scotland has taken a 3.1 billion pound ($3.92 billion) provision as it prepares to settle claims in the United States that it mis-sold toxic mortgage-backed securities in the run up to the 2008 financial crisis. The surprise provision means that RBS is unlikely to make a profit in 2016, the ninth straight … Read more

GIC leads $1.04 billion investment in office tower in downtown Manhattan

Saul Loeb | AFP | Getty Images The skyline of downtown Manhattan, including the Freedom Tower, is seen in this aerial photograph over New York City, September 13, 2016. Singapore sovereign wealth fund GIC and Paramount Group have formed a joint venture to acquire office tower “60 Wall Street” in downtown Manhattan for $1.04 billion. … Read more

Goldman Sachs files $1 billion countersuit against Indonesian businessman

Adam Jeffery | CNBC Goldman Sachs filed a $1 billion counter lawsuit on Tuesday against an Indonesian businessman who is seeking damages from the U.S. bank for conducting what he called “unlawful” trades in the shares of a property firm. Benny Tjokrosaputro, president director of Indonesian property developer PT Hanson International, filed a lawsuit in … Read more

How,does,China,respond,to,US,chip,threats?,With,a,$30,billion,factory

For China, actions speak louder than words, especially in the escalating chip battle with the U.S., which has been hurling out verbal threats in recent months. The Chinese chip infrastructure is getting a serious boost from Tsinghua Unigroup, which is investing US$30 billion in a new foundry to make chips. The state-owned Tsinghua Holdings is … Read more

China’s cash-strapped LeEco in talks to gain $1.4 billion from investor

David Paul Morris | Bloomberg | Getty Images Jia ‘YT’ Yueting, chief executive officer of LeEco Global Group, right, speaks with an employee at the company’s headquarters in San Jose, California, U.S., on Thursday, Oct. 13, 2016. China’s cash-strapped LeEco said it is in talks to secure 10 billion yuan ($1.4 billion) from an unidentified … Read more

Monte Paschi to issue $15.8 billion in debt after EU approves support: Paper

Matt Clinch | CNBC The headquarters of Banca Monte dei Paschi di Siena SpA, the oldest surviving bank in the world and Italy’s third-largest bank. Italy’s Banca Monte dei Paschi di Siena, which is being bailed out by the state, plans to issue 15 billion euros ($15.8 billion) of debt next year to restore liquidity … Read more

China’s cash-strapped LeEco in talks to gain $1.4 billion from investor

David Paul Morris | Bloomberg | Getty Images Jia ‘YT’ Yueting, chief executive officer of LeEco Global Group, right, speaks with an employee at the company’s headquarters in San Jose, California, U.S., on Thursday, Oct. 13, 2016. China’s cash-strapped LeEco said it is in talks to secure 10 billion yuan ($1.4 billion) from an unidentified … Read more