Company news in brief

Huawei overtakes AppleChina’s Huawei Technologies overtook Apple Inc to become the world’s second-biggest smartphone seller in the June quarter, data from market research firms showed, as it gained ground in Europe and expanded its lead back home.The estimated rise in market share comes as a slowdown in the world’s biggest smartphone market, China, eased. Huawei has also managed to get ahead of rivals by selling more feature-packed phones, analysts said.-Nampa/ReutersInsurers grilled on exposure to J&J verdictWall Street is trying to figure out whether the US insurance industry will bear any costs from a record US$4.69 billion judgment against Johnson & Johnson awarded to customers and their families who claimed that asbestos-contaminated talc caused ovarian cancerAnalysts have flagged talc litigation as a financial risk for insurers, including Travelers Companies Inc, Chubb Ltd and The Hartford Financial Services Group Inc.-Nampa’/ReutersCredit Suisse charged with rigging foreign exchange ratesCredit Suisse has been charged by European Union antitrust regulators with rigging foreign exchange rates, the Swiss bank said on Tuesday, a sign that the five-year long EU investigation may reach a conclusion in the coming months.Credit Suisse said in its quarterly report it received notification from the European Commission on July 26 alleging that it “engaged in anticompetitive practices in connection with its foreign exchange trading business”.-Nampa/ReutersSiemens thinks big with small-batch productionGerman engineering group Siemens is redoubling its efforts in an area where it has traditionally lagged: managing the processing of materials into medicines, chemicals or foodstuffs.Siemens excels at helping makers of cars, planes and trains make their production and assembly smarter by using its software to create distinct items and components - so-called discrete manufacturing.-Nampa/ReutersiPhone X deliver earnings beatApple Inc sales led by the pricey iPhone X pushed quarterly results far beyond Wall Street targets on Tuesday, with subscriptions from App Store, Apple Music and iCloud services bolstering business.The world’s most valuable technology company also forecast revenue above expectations for the fall, when it typically launches new iPhone models, reassuring a nervous tech sector that saw sell-offs last week in Facebook Inc, Twitter Inc and Netflix Inc on concerns about their future growth.-Nampa/Reuters

Company news in brief

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Company news in brief

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