News

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Thu, 15 Oct 2020 15:48:17 GMT

Boots UK sales fall 29%

The UK health and beauty retailer Boots announced that comparable store sales dropped 29.2% year-over-year in the last quarter, as client numbers were dented by the pandemic.

Thu, 15 Oct 2020 15:16:27 GMT

Fisker deals with Magna to build SUV

Fisker announced that auto supplier Magna International will supply the car platform and build the electric carmaker's SUV.

Thu, 15 Oct 2020 14:05:21 GMT

Pirelli launches R&D reshape amid pandemic

Italy's tyremaker Pirelli have decided to reboot its R&D to stay on track during the coronavirus crisis after the pandemic forced the company to temporarily close its plants in March.

Thu, 15 Oct 2020 13:30:33 GMT

US jobless claims surge unexpectedly

The number of US claims for unemployment benefits unexpectedly surged to 898K last week, compared to the 845K reading the previous week, the Labor Department reported on Thursday.

Thu, 15 Oct 2020 11:42:51 GMT

KPN chooses Ericsson over Huawei

The Dutch telecom firm KPN selected Sweden's Ericsson to establish the 5G network's core elements over China's Huawei, according to the company's statement made on Thursday.

Thu, 15 Oct 2020 11:21:02 GMT

Morgan Stanley pilots programme for diversity boost

Morgan Stanley has launched a new programme for recruiting Black talent in the bank's capital markets division, seeking to boost diversity amid nationwide racial inequality protests.

Thu, 15 Oct 2020 10:08:08 GMT

China raises US capital

On Thursday, Reuters revealed that the government of China had managed to raise $6 billion from a bond issue aimed at US investors.

Thu, 15 Oct 2020 08:53:45 GMT

EU shares drop amid second wave fears

On Thursday, European shares fell to almost two-week low due to a resurgence in the coronavirus cases across the world and fading hopes for additional US fiscal stimulus.

Thu, 15 Oct 2020 08:21:19 GMT

US may add Ant Group to trade blacklist

On Thursday, the US State Department submitted its proposal for Trump's administration demanding to add the Chinese fintech firm Ant Group to the trade blacklist, before it goes public.

Thu, 15 Oct 2020 04:57:59 GMT

Daimler committed to F1, aims to cut costs

Mercedes owner Daimler was committed to Formula One, though was working to cut costs and diminish the environmental impact of motor racing, CEO Ola Kaellenius stated.

Thu, 15 Oct 2020 04:32:22 GMT

Fund manager AJO to close business

AJO Partners with $10B in assets stated that it will shut at the end of this year after "lingering viability concerns" from clients.

Thu, 15 Oct 2020 03:38:40 GMT

Microsoft deals with Equinor over CO2 storage

Microsoft Corp signed a memorandum of understanding with Norway's Equinor to explore the use of a CO2 storage facility, seeking to lower its carbon emissions.

Wed, 14 Oct 2020 20:43:03 GMT

BlackRock invests $118M in EV startup

The UK electric car startup Arrival announced that it raised $118M from the US funds manager BlackRock Inc.

Wed, 14 Oct 2020 18:58:45 GMT

Uganda reports revenue surplus

Uganda ended the first quarter of the current fiscal year with a revenue surplus of over $274M, a statement published by the Uganda Revenue Authority shows.

Wed, 14 Oct 2020 18:13:23 GMT

Singapore economy contracts 7% in Q3

The economy of Singapore contracted 7% in the third quarter of 2020, compared to the same period the prior year, the Ministry of Trade and Industry reports.

Wed, 14 Oct 2020 17:23:35 GMT

Wholesale inflation in India rises

Wholesale prices in India increased by 1.32% in September, compared to the same period the previous year, data released by the Ministry of Commerce and Industry show.

Wed, 14 Oct 2020 16:34:09 GMT

Greece, Iraq to improve ties

The Greek Foreign Minister Nikos Dendias and the Iraqi Foreign Minister Fuad Hussein agreed to improve bilateral ties at a meeting in Baghdad on Wednesday.

Wed, 14 Oct 2020 15:27:55 GMT

German GDP to decline 5.4% in 2020

The German economy is expected to contract 5.4% in 2020 amid the coronavirus pandemic, data published by leading German economic research institutes show.

Wed, 14 Oct 2020 13:57:17 GMT

BoA profit drops on higher provisions

On Wednesday, Bank of America posted a 15.8% fall in its quarterly profit, hurt by higher provisions for its credit losses as well as a drop in three chief segments' performance.

Wed, 14 Oct 2020 12:48:27 GMT

Wells Fargo posts fall in Q3 profit

On Wednesday, Wells Fargo reported a 57% plunge in its Q3 profit after the lender's loan book shrank, while higher costs and near-zero interest rates hurt the bottom line.

Wed, 14 Oct 2020 11:27:27 GMT

Netflix cancels free trials for US viewers

The biggest streaming service in the world Netflix stated it had cancelled free trials for its US customers, as it sought to lure new members via different marketing promotions.

Wed, 14 Oct 2020 09:32:29 GMT

Apple launches new iPhone 12 models

On Tuesday, Apple launched its iPhone 12 range, the next-generation smartphones with faster connectivity of 5G, at the price starting from $699 for its "Mini" version, while its largest ‘Pro Max' device's price will start from $1,099.

Wed, 14 Oct 2020 08:24:05 GMT

Ford delays Escape output to 2021

On Tuesday, Ford Motor will move production of the plug-in Escape SUV to 2021 due to a review of its cars implemented with the same battery and engine parts that had been recalled in Europe.

Wed, 14 Oct 2020 06:48:11 GMT

Huawei considers selling Honor parts

Huawei Technologies, Digital China Group and other suitors are in negotiations over selling parts of Huawei's Honor smartphone business in a potential deal that could raise up to 25B yuan ($3.7B).

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