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The U.S. Federal Trade Commission is expected to announce about $5 billion settlement with Facebook Inc. (FB) as soon as this week over the social media giant's 2018 Cambridge Analytica scandal, according to several reports. The fine would be the largest ever imposed by the FTC on a technology company....

Microsoft Corp. (MSFT) agreed to pay $25.3 million to settle an investigation into potential violations of a law prohibiting the bribery of foreign government officials. The company settled the alleged Foreign Corrupt Practices Act violations by four Microsoft subsidiaries in separate agreements with...

Apple Inc. (AAPL) is in advanced talks to buy Intel Corp.'s cellular modem unit, the Wall Street Journal reported citing people familiar with the matter. The Intel assets could be valued at about $1 billion in a transaction. The deal could be announced as soon as next week, the report said. The...

Whirlpool Corp. (WHR) announced, for the full-year 2019, the company now expects GAAP earnings per share of $17.80 to $18.55 and ongoing earnings per share of $14.75 to $15.50. Analysts polled by Thomson Reuters expect the company to report profit per share of $14.81, for the fiscal year. Analysts' estimates...

Hagens Berman Sobol Shapiro LLP, a consumer-rights class-action law firm, said consumers has filed a lawsuit accusing Ford of misrepresenting facts related to fuel economy tests of F-150. The lawsuit filed in the U.S. District Court for the Eastern District of Michigan includes anyone who purchased or...

The Dürr Group (DUERF.PK) said its earnings in the Woodworking Machinery and Systems division are under pressure from shrinking margins caused by declining market volumes. Also, the company's earnings in the Measuring and Process Systems division are being impacted by higher R&D expenses. Based on this,...

Continental AG (CTTAY.PK) said the company's second-quarter was solid despite a further downturn in the market environment. Preliminary second-quarter results were in line with expectations. However, the company is now less optimistic about the second half of the year than it was before. Owing to the...

The Board of TD Ameritrade Holding Corp. (AMTD) started a search for a successor to President and CEO Tim Hockey as he has decided to leave company in February 2020. The company's search, which will be led by a nationally-recognized executive search firm, will include both internal and external candidates....

joe-kaeser-trump-072219.jpg The CEO of German engineering giant Siemens AG criticized U.S. President Donald Trump as becoming the "face of racism and exclusion" following his alleged racist comments targeting four progressive Democratic Congresswomen recently. "It depresses me that the most important political office of the world will be the face of racism and exclusion," Joe Kaeser said in a Twitter post in German.

Responding to materials filed by Carl Icahn, Occidental Petroleum Corp. (OXY) recommended its shareholders do not sign any written request sent to them by Icahn or his affiliates. Last week, Billionaire investor Carl Icahn took another step in his effort to replace four directors at Occidental Petroleum...

Microsoft Corp. (MSFT) said it has formed computing partnership with OpenAI to build new Azure AI supercomputing technologies. They will accelerate breakthroughs in AI and power OpenAI's efforts to create artificial general intelligence. Microsoft will invest $1 billion in OpenAI, which was founded by...

volvo-recall-072219.jpg Volvo Cars issued a recall for 507,000 vehicles worldwide, citing a risk of fire due to a faulty engine component. The Swedish automaker reportedly said it has received reports of a small number of cars catching fire, but no one has been injured. The recall could affect certain vehicles produced during the period from 2014 to 2019 and having two-liter, four-cylinder diesel engines.

apollo11-july22.jpg Auction house Sotheby's said on the 50th anniversary of the Apollo 11 lunar landing, it has auctioned the three original videotape recordings depicting the event for $1.82 million in New York. The price is more than 8,000 times the price paid for the tapes by then-NASA intern Gary George at a government surplus auction in 1976. Apollo 11 was the spaceflight that first landed humans on the moon.

Eaton Corporation plc (ETN) has committed to acquire the Souriau-Sunbank Connection Technologies business of TransDigm Group. The deal is valued at $920 million. Eaton expects the acquisition to be accretive to adjusted earnings per share in 2020. Headquartered in Versailles, France, Souriau-Sunbank...

TransDigm Group Inc. ( TDG) said that it plans to divest Souriau-Sunbank Connection Technologies to Eaton Corporation plc (ETN) in a transaction valued at approximately $920 million. TransDigm will have the right to require Eaton to enter into a securities purchase agreement providing for the purchase...

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