From 2006 to date, Huawei has struck 70 deals in dozens of countries in Africa, Asia and Latin America to build cloud infrastructure and e-government systems. This is the data from a report by Washington-based think tank CSIS, as seen by the Financial Times. CSIS says the data shows that, despite US attempts to dissuade governments from doing business with the Chinese company, Huawei is actively...

Chinese online retailer Alibaba posted a net loss of 7.7 billion yuan ($1.2 billion) in the fourth quarter ended at the end of March, compared with a net profit of 7.1 billion yuan ($1.1 billion) a year earlier. It is the corporation's first quarterly loss since its IPO in 2014. Analysts polled by Refinitiv had forecast a profit of ¥6.95 billion. Alibaba's loss is linked to a record $2.8 billion...

The Italian antitrust regulator (AGCM) has fined Google €102m for abusing its dominant position. The regulator said in a statement that, thanks to its Android OS and Google Play app store, the company maintains a dominant position in the Italian market, which allows it to control access to end-users for app developers. For example, according to the AGCM, Google for two years prevented...

Toyota Motor's net profit rose to $7.15 billion for the fourth quarter of its fiscal year ended March 31. This figure is more than double that of the same period last year. Revenue for the period rose 11% to $70.7 billion. The results for the full fiscal year surpassed both analysts' and the company's forecasts. In May 2020, Toyota Motor predicted that it would sell 8 million cars in 12 months...

Japanese carmaker Mitsubishi Motors' net loss for fiscal year 2020-2021 ended March 31 rose 12 times year-on-year to 312.3 billion yen ($2.9 billion), the company said in its financial statements. The financial year ended with a net loss per share of 209.88 yen ($1.9) against a loss of 17.32 yen ($0.15). The group's revenue fell 1.5 times to 1.455 trillion yen ($13 billion). The company notes...

Japanese carmaker Nissan Motor has reported its results for the fourth quarter and full fiscal year 2020 (ended at the company on 31 March) and also gave a forecast for fiscal 2021. For 2020, the company posted a loss of ¥449 billion ($4.2 billion), which, however, is 33% lower than the loss posted in fiscal 2019. Performance in the fiscal 2020, the company said, was impacted by the COVID-19...

Malaysian state-owned investment fund 1Malaysia Development Berhad (1MDB) has sued German Deutsche Bank, US-based JPMorgan and UK-based Coutts in a court in Kuala Lumpur. This was reported by Reuters, citing court documents. The investment fund accuses the banks of "negligence, breach of contract, conspiracy to defraud and damage and/or aiding and abetting unfair practices". 1MDB is seeking...

Saudi Aramco, the world's largest oil company, posted a net profit of $21.7 billion in the first quarter of 2021, up 30% from the same period last year, the company said in a statement. The result was attributed to improved global economic and oil market conditions, higher margins in refining and petrochemicals, which partially offset production declines, the release said. Cash flow from...

Online broker Robinhood has collected a record $331M in the form of fees from market makers for the flow of orders on equity trades in Q1 2021. This was reported by CNBC, citing data from the US SEC. Of those funds, $133M were received from market makers for stock trading orders; $198M - for options trading orders. This is 3.6 times what the company-owner of the popular online securities trading...