Business

The Internal Revenue Service says Microsoft owes the U.S. Treasury $28.9 billion in back taxes, plus penalties and interest, the company revealed in a securities filing.  Company will appeal claims by tax agency that it owes billions for 2004-2013 tax years. The Internal Revenue Service says Microsoft owes the U.S. …

Best Buy is saying goodbye to movie-watching with physical discs as the consumer electronics retailer plans to phase out its DVD and Blu-ray sales by early 2024.  Electronics retailer moving away from sales of ‘physical media.’ Best Buy is saying goodbye to movie-watching with physical discs. The consumer electronics retailer …

NEW YORK CITY: Delta Air Lines reported surging quarterly earnings amid persistently strong demand, while acknowledging a drag from strikes in the US auto and entertainment sectors. The US carrier said there is still plenty of hunger for travel after Covid-19 lockdowns, with US customers extending the traditional summer European …

Canada’s housing market continued to cool last month, new numbers from the Canadian Real Estate Association show Friday, as the number of homes sold has now fallen for three months in a row and benchmark prices slipped lower, too.  Benchmark prices fell by 0.3% during month, first decline since March. …

The European Union wants social networks to deal with fake information or face consequences. But industry researchers and experts say it could be an impossible task — even as hundreds of accounts linked to Hamas have been removed by at least one platform. Sheer size of social platforms makes it …

The United Auto Workers union significantly escalated its walkout against Detroit’s Big Three automakers, shutting down Ford’s largest factory and threatening Jeep maker Stellantis. 8,700 workers at factory that makes F-150 truck and expensive SUVs walk off job. The United Auto Workers union significantly escalated its walkout against Detroit’s Big …

THE Philippines’ first embedded finance initiative for overseas Filipino workers (OFWs) through the collaboration between Rizal Commercial Banking Corporation (RCBC) and Hungary-based fintech Peak Card Services Ltd. (Peak) and Columbus Private Equity Fund (Columbus) was announced during the series of events organized for the celebration of the 50th anniversary of …

Brink’s security is suing Canada’s biggest airline for more than $20 million for allegedly letting a thief walk into an Air Canada facility at Pearson airport and walk out with gold bars and cash. Security company suing to get back the money it lost in the caper. Brink’s is suing …

SINGAPORE: Singapore’s economy grew faster than expected in the third quarter, preliminary government estimates showed on Friday, as construction and services made up for a continued slump in manufacturing. Gross domestic product expanded 0.7 percent year on year in the three months ending in September, beating forecasts of around 0.4 …

MARRAKESH, Morocco: The World Bank’s new president, Ajay Banga, said on Wednesday that the global lender must become “better” and “bigger” to boost its capacity to help developing countries battle climate change, poverty and pandemics. Banga, who was appointed in June, made his plea at the annual meetings of the …