Drone strikes attacked an oil processing facility at Abqaiq and the nearby Khurais oil field on Saturday.Marketsread more
Trump said oil would be released if needed to keep the market well supplied and he would expedite the approval of pipelines in Texas and other states.Marketsread more
Saudi Aramco is aiming to restore by Monday about a third of its crude output that was disrupted after drone attacks on two key oil facilities, The Wall Street Journal...Marketsread more
The trucking industry is worth hundreds of billions of dollars per year. Uber is going after this market with Uber Freight, an online platform that matches truckers with...Technologyread more
Apple's new iPhones can still send texts, download apps, and make video calls, but the company spends a lot of time and effort marketing its new phones as powerful photography...Technologyread more
Some U.S. manufacturers say tariffs, if targeted, will help address longstanding unfair trade practices like intellectual property theft.Traderead more
Supporters of a $15 minimum wage ballot initiative in Florida argue the state's inflation-tied pay hikes have not gone far enough.2020 Electionsread more
Saudi Arabia shut down half its oil production Saturday after drone strikes hit the world's largest oil processing facility in an attack claimed by Yemen's Houthi rebels.Politicsread more
Trusii's hydrogen water machines were supposed to help users with their health problems, but customers claim the company is involved in a giant scam.Technologyread more
The decoupling of the world's two weightiest economies seems as inescapable as its extent and global impact remains incalculable.Politicsread more
BlackBerry has reinvented itself to become a leader in securing mobile communications and in embedded communications. Next year it plans to roll out new products. CEO John...Evolveread more
Sony is committed to the smartphone sector despite increasing calls for the company to cut its losses, CEO Kazuo Hirai told CNBC at the IFA 2014 tech show in Berlin, where it unveiled its latest smartphone.
The firm launched a slew of products including the new flagship Sony Xperia Z3 smartphone, a fitness tracker that can make and take calls, numerous lens cameras - bodiless cameras that clip on to smartphones - and the NWZ- A17 Walkman digital music player.
While Sony's share of the smartphone market is small, Hirai told CNBC on Wednesday that it's important for the firm to stay in the business to keep pace with technology trends.
"There will come a time, when markets are moving from smartphones, perhaps to wearables or some other way in which the folks are going to be using the device to communicate. And we believe that in order for us to bridge into that generation... we need to be in the smart phone business... so that we keep our relationship with our carriers, our suppliers,and obviously with our consumers," he said.
Sony had a 2.1 percent share of the global smartphone market in 2013 compared with Samsung's 31.1 percent and Apple's 13 percent, according to Gartner statistics.
Once considered a pioneer in electronics innovation, Sony fell on hard times over the past few years amid intense competition. Last month, a warning about the outlook for its smartphone division in its quarterly earnings report led to increased calls from investors including billionaire Daniel Loeb for the firm to exit unprofitable sectors and refocus on its strengths.
That is exactly what Sony is doing by unloading its failing PC division and spinning off its TV division, Hirai said, noting its key focuses are now the TV business, video gaming and network services, digital imaging and mobile.
"We're trying to refocus the electronic business on those areas where we believe we can make a huge difference," he added.
Sony is making progress on its turnaround plan despite criticism that the process is taking too long, Hirai said.
"This is a very large business," he said. "Sometimes maybe things take longer than perhaps one is expecting...So we're moving the bar in a lot of different fronts, and we're making some progress."
Thus far smart watches have met a lukewarm reception from the tech industry, but Hirai said that most players are still experimenting.
"The entire industry, including Sony, we're still... coming out with a lot of different products, and trying to really understand where the sweet spot is," he said.