News

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Tue, 01 Oct 2019 11:51:25 GMT

Ford Motor establishes JV with Mahindra

Ford Motor Co is set to establish a joint venture with Mahindra & Mahindra in India worth $275M to develop, market and distribute Ford's branded cars in the country, both companies announced on Tuesday.

Tue, 01 Oct 2019 10:45:51 GMT

Macquarie plans Hobart Airport stake sale

Macquarie Group announced it would sell 70% stake in the Hobart International Airport to a consortium of Royal Schiphol Group and Queensland Investment Corporation, not disclosing the financial terms of the deal.

Tue, 01 Oct 2019 10:36:12 GMT

Tech giants face inquiry

On Tuesday, it was announced by the US Senate that it will inquire into the operations of Facebook, Amazon and Google.

Tue, 01 Oct 2019 07:56:33 GMT

UK to bring back 7K people amid Thomas Cook collapse

The UK Civil Aviation Authority announced that 39 flights more were scheduled for Tuesday to being back another 7K of people to Britain after the collapse of Thomas Cook, as repatriation efforts entered the second week.

Tue, 01 Oct 2019 06:44:54 GMT

Forever 21 to close 178 stores amid bankruptcy

The fast-fashion retailer Forever 21 has got an approval to close 178 US stores out of 815 stores it has in 57 countries due to a bankruptcy filing, believing the restructuring will allow the company to shift focus to the operations' profitable core part.

Tue, 01 Oct 2019 05:03:07 GMT

Coveney denies reported Brexit border proposal

Ireland's Foreign Minister Simon Coveney denied a report that the UK is proposing to place custom clearance centres between 8km -16 km on each side of the Irish border.

Tue, 01 Oct 2019 04:04:09 GMT

Crude oil prices rebound on Tuesday

Crude oil prices rebounded at the Asian session on Tuesday after output from the world's biggest oil producers decline in the Q3. Brent crude futures were up $59.69 per barrel at 02:02 GMT.

Tue, 01 Oct 2019 02:54:48 GMT

Brazil's national debt at record high

Brazilian national debt grew to the highest on record of 79.8% of GDP in August, driven by weaker exchange, higher borrowing rates and increased interest payments.

Mon, 30 Sep 2019 20:05:36 GMT

Swedbank fires three executives from Estonia's unit

Swedbank removed three executives from the Bank's Estonian business and appointed their replacements, including the new Head of the unit involved in an investigation over international money laundering.

Mon, 30 Sep 2019 19:02:20 GMT

Georgian economic growth up 5%

The economy of Georgia expanded 5% year-over-year in the first eight-month period of 2019, compared with 4.8% increase in the same period last year, preliminary data revealed.

Mon, 30 Sep 2019 17:50:25 GMT

PayPal to go into Chinese market

PayPal obtained Beijing's approval to acquire a 70% stake in Gopay Information Technology, being the first foreign company to enter Chinese payment services market.

Mon, 30 Sep 2019 16:54:41 GMT

Blackstone to buy warehouses from Colony Capital

Blackstone Group stated that it would buy the US industrial warehouses from Colony Capital, the real estate and investment management company, in a $5.9B deal, to capitalize over the e-commerce boom.

Mon, 30 Sep 2019 15:53:27 GMT

Sanofi to cut nearly 200 positions in Japan

France's drugmaker Sanofi announced plans to cut nearly 200 positions in Japan across regulatory affairs, sales and operations, a source familiar with the matter stated.

Mon, 30 Sep 2019 15:31:25 GMT

German inflation weakest in three years

Germany's consumer prices grew 0.9% year-on-year in September, the weakest level in almost three years and below the ECB 2% target.

Mon, 30 Sep 2019 14:36:29 GMT

Blackstone to acquire US warehouses for $5.9B

On Monday, Blackstone Group Inc announced it signed a deal with the investment and real estate management company Colony Capital to acquire its US industrial warehouses in a deal worth $5.9B, sending Colony Capital's up 14% to $6.72.

Mon, 30 Sep 2019 13:33:40 GMT

Elon Musk launches latest Mars rocket prototype

Elon Musk, the billionaire entrepreneur, has released his new iteration of the space giant's newly assembled Starship, marking the fast development of the SpaceX's centrepiece vehicle that deemed to launch humans to Mars or the moon.

Mon, 30 Sep 2019 12:08:27 GMT

Tencent buys 29% stake in Oslo-listed Funcom

China's Tencent Holding is set to acquire a 29% worth stake in the Oslo-listed computer games maker Funcom, becoming its largest shareholder, Funcom announced on Monday.

Mon, 30 Sep 2019 11:03:56 GMT

BoA, Morgan Stanley to expand employee-benefits services

Bank of America Corp and Morgan Stanley are planning expansion in their employee-benefits management, seeking to gain a market share in the wealth management business, according to Reuters.

Mon, 30 Sep 2019 09:40:54 GMT

Global stocks trade steady

During the Asian trading session, global stock indices traded steadily despite an announcement that the US might delist some Chinese companies from their exchanges.

Mon, 30 Sep 2019 08:45:14 GMT

Thomas Cook clients likely to face delay in refunds

On Monday, the UK aviation regulator stated that Thomas Cook's customers could face a two-month delay for their refunds, as the regulator had not yet received all the necessary information from the world's oldest travel company that collapsed last week.

Mon, 30 Sep 2019 08:35:32 GMT

Revolut to add 3.5K jobs amid global expansion

Revolut, the British digital banking app, is planning to hire about 3500 new staff amid its expansion into 24 markets in the global push with the payments giant Visa, both companies announced on Monday.

Mon, 30 Sep 2019 06:50:31 GMT

Forever 21 files for bankruptcy

On Sunday, Forever 21 Inc, the fashion retailer, has filed for bankruptcy, joining the growing list of companies that were hit by e-commerce giants, such as Amazon.com, amid customers' rising demand for an online shopping.

Mon, 30 Sep 2019 06:37:15 GMT

GM, UAW to keep discussing new labour deal

United Auto Workers and General Motors announced on Monday they would continue negotiations on a new labour deal due to a strike launched by the union members that had entered the third week already.

Mon, 30 Sep 2019 05:23:53 GMT

Trudeau's Liberals plan to increase government spending

The Canadian ruling Liberal Party announced on Sunday a number of spending initiatives, though added that their implementation would require $15.11B annual deficits over the upcoming four years.

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