India's No. 1 Affordable Computer Franchise (ISO Certified, Govt. Approved) | Get approval in 10 Hours. For Inquiries: CALL +91-9774064470

With Interest: The Week in Business: The Sackler Family Gets Sued, and Theresa May’s Darkest Hour

Want this column in your inbox? Sign up here.Here’s your checklist of everything to know in business and tech for the coming week, so you can feel up-to-date and well-rounded even if all you want to talk about is Meghan Markle’s baby. (Any day now!) Enjoy the rest of your weekend.MARCH 24-30 What’s Up? Follow the MoneyEight members of the Sackler family, owners of the pharmaceutical company that makes the potent (and highly addictive) opioid OxyContin, have been sued for fraud by New York State. They are accused of hiding profits and siphoning hundreds of millions of dollars from their company, Purdue Pharma, into personal offshore accounts…

Continue Reading

In Price and Value, Chinese Phone Makers Outpace Apple in Much of the World

BEIJING — To most Americans, the names are unfamiliar, maybe a little hard to pronounce: Huawei, Xiaomi, Oppo, Vivo.They are China’s biggest smartphone brands. Around the world — although not in the United States — they are making the handset business brutally competitive. This week, after Apple warned of disappointing iPhone sales in China, industry observers said that devices from the Chinese brands were a major culprit.As the phone market in China reaches saturation and sales shrink over all, the country’s hardware makers are pushing hard, and increasingly winning fans, in places like France, Germany, India and Southeast Asia, where consumers find that the phones can do…

Continue Reading

Ofo, Pioneer of China’s Bike-Sharing Boom, Is in a Crisis

BEIJING — Brilliantly simple, emission-free solution to the problem of urban congestion? Or the maddening height of venture-backed technology hubris? Dockless rented bicycles swept into Chinese cities two years ago. Their arrival inspired a wave of similar mobility experiments around the world, even as city dwellers in China bemoaned the sight of candy-colored bikes heaped in unholy piles on their sidewalks.Now, one of China’s leading bike start-ups, Ofo, is facing serious financial problems. Its founder is on a government blacklist for unpaid bills. Millions of riders who placed deposits are demanding their money back. And the business model used by many of China’s tech firms — spend…

Continue Reading

As Qualcomm Deal Is Scrapped, China Denies Trade Link

Delays in China that led Qualcomm to call off its acquisition of a rival microchip maker had nothing to do with escalating trade tensions with the United States, a spokesman for the Chinese Commerce Ministry said on Thursday.Qualcomm and NXP Semiconductors first announced their $44 billion union nearly two years ago. Qualcomm is based in San Diego and NXP in the Netherlands, but both do significant business in China, which is why its antimonopoly authorities had say over whether the deal would go through.But as frictions between the United States and China intensified this year, Beijing’s prolonged antitrust review came to be seen as a form of…

Continue Reading