Business

Micron kicks off dividend payments, shifts to ‘opportunistic’ share buybacks

Memory chip maker Micron Technology Inc (MU.O) on Monday said it would shift how it returns cash to shareholders, buying up more shares when prices are low, fewer when prices are high and instituting a dividend for the first time. Micron makes DRAM and NAND memory chips, which are needed for nearly all computing systems […]

Business

China quietly sets new ‘buy Chinese’ targets for state companies – U.S.

China’s government quietly issued new procurement guidelines in May that require up to 100% local content on hundreds of items including X-ray machines and magnetic resonance imaging equipment, erecting fresh barriers for foreign suppliers, three U.S.-based sources said. Document 551 was issued on May 14 by the Chinese Ministry of Finance and the Ministry of […]

Business

Bill Gates and Melinda French officially divorced, court document shows

The divorce between Bill Gates and Melinda French Gates, cofounders of one of the world’s largest private charitable foundations, was finalized on Monday, a court document showed. The couple filed for divorce on May 3 after 27 years of marriage, but pledged to continue their philanthropic work together. The Gateses said at the time that […]

Business

China clampdown concerns spurred record ADR trading

Market turbulence caused by Beijing’s clampdowns on its tech, education and property sectors drove trading in U.S.-listed Chinese stocks to a record high in dollar terms last month, data shows. The concerns triggered the biggest monthly fall in China-linked American Depository Receipts (.HXC) or ADRs, as they are known, since the height of the 2008 […]

Business

AT&T’s DirecTV to become standalone video business

AT&T Inc’s (T.N) satellite television provider, DirecTV, will become a standalone video business as part of a deal between the wireless service provider and buyout firm TPG Capital. The video service unit said on Monday it will launch DirecTv Stream, a platform that will allow its users to get access to streaming services such as […]

Business

Ernst & Young, auditors to pay over $10 mln to settle SEC charges

Accounting firm Ernst & Young LLP, a partner and two former employees agreed to pay more than $10 million to settle U.S. Securities and Exchange Commission charges they violated auditor independence rules, the agency said on Monday. Ernst & Young, partner James Herring and former partners James Young and Curt Fochtmann interfered with a public […]

Business

Zoom reaches $85 mln settlement over user privacy, ‘Zoombombing’

Zoom Video Communications Inc (ZM.O) agreed to pay $85 million and bolster its security practices to settle a lawsuit claiming it violated users’ privacy rights by sharing personal data with Facebook, Google and LinkedIn, and letting hackers disrupt Zoom meetings in a practice called Zoombombing. A preliminary settlement filed on Saturday afternoon requires approval by […]