News

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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).

Wed, 14 Oct 2020 06:37:48 GMT

Walmart prolongs Black Friday deals

Walmart is planning to prolong the Black Friday deals this year, the world's biggest retailer stated on Wednesday, as the coronavirus pandemic changed consumer spending habits.

Wed, 14 Oct 2020 05:09:12 GMT

OPEC slashes 2021 crude oil demand outlook

Global crude oil demand will rebound slower than previously expected in 2021, the Organization of the Petroleum Exporting Countries announced on Tuesday.

Wed, 14 Oct 2020 04:00:57 GMT

EU wins right to impose tariffs on US imports

The EU has won the right on Tuesday to impose tariffs on $4B of US imports in retaliation over Boeing subsidies.

Wed, 14 Oct 2020 03:03:42 GMT

Pelosi rejects Trump's latest stimulus offer

On Tuesday, the US House of Representatives Speaker Nancy Pelosi declined the White House's latest offer on coronavirus relief bill.

Wed, 14 Oct 2020 01:35:13 GMT

US Senate to vote on target COVID-19 stimulus

On Tuesday, the US Senate Majority Leader Mitch McConnell announced that the US Senate would vote on targeted COVID-19 stimulus bill next week.

Tue, 13 Oct 2020 19:44:30 GMT

Hyundai starts building EV hub in Singapore

South Korea's Hyundai Motor begun construction of its R&D centre in Singapore, which is expected to house a small-scale EV production facility.

Tue, 13 Oct 2020 19:38:43 GMT

Capital Group ups Deutsche Bank stake to 7%

The US investor Capital Group bought extra shares in German lender Deutsche Bank, taking overall holdings to more than 7%, a regulatory filing revealed.

Tue, 13 Oct 2020 17:46:43 GMT

Audi to launch new EV venture with FAW

German automaker Audi signed an agreement with China's state-owned FAW Group to launch a venture to make premium electric cars.

Tue, 13 Oct 2020 16:43:44 GMT

BP to ship gas from Azerbaijan

Oil major BP confirmed its plans to begin shipping natural gas from Azerbaijan to Europe by the 2020 end, as concerns on the military conflict on the region heightened.

Tue, 13 Oct 2020 15:43:34 GMT

Indonesia to produce EV batteries

A group of Indonesia's state-owned firms are set to form a venture to make electric vehicle batteries, the MIND ID Chief Executive stated.

Tue, 13 Oct 2020 15:25:35 GMT

EU imposes tariffs over Chinese aluminium

The EU is set to impose 30.4%-48.0% duties over imports of aluminium products from China until an investigation into whether China's producers were selling at too low prices is completed.

Tue, 13 Oct 2020 13:49:28 GMT

Maersk plans 2K layoffs in business shake-up

Maersk, the world's largest container shipping line, reported faster recovering and raised its earnings forecasts, while also announcing it would count 2K jobs amid a cost-cutting programme.

Tue, 13 Oct 2020 13:29:13 GMT

China delays Ant's IPO approval

The Chinese securities regulator is delaying the approval for the potentially the biggest IPO in the world, planned by the fintech giant Ant Group and valued at $35B, Reuters reported.

Tue, 13 Oct 2020 12:36:33 GMT

Tesla trims Model S prices in US

On Tuesday, Tesla Inc said it trimmed the price for the Model S "Long Range" variation by 4% in the US, days after the company reported its quarterly deliveries hit record-high.

Tue, 13 Oct 2020 11:24:34 GMT

JPMorgan profit surges 4% in Q3

On Tuesday, JPMorgan Chase reported a surge of 4% in its Q3 profit, driven by a rise in trading activity on the back of the global financial markets' rebound from the coronavirus crisis.

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