News

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Wed, 07 Oct 2020 14:59:15 GMT

Wells Fargo trims jobs amid cost-cutting drive

On Wednesday, Wells Fargo stated it was cutting jobs at the commercial banking division amid its larger reductions, which would affect the majority of its business lines and functions.

Wed, 07 Oct 2020 13:41:03 GMT

VW eyes 90% EV sales in Norway

Volkswagen is expecting 90% electric vehicles sales next year in Norway, adding that EVs could completely replace petrol and diesel engines in the country by 2023.

Wed, 07 Oct 2020 12:48:46 GMT

Samsung's Q3 profit seen rising 35%

Samsung Electronics's Q3 profit likely surged as much as 35%, driven by robust smartphone sales as well as a rush memory chips order from Huawei Technologies.

Wed, 07 Oct 2020 12:36:53 GMT

Adidas names new head of HR

Adidas has named ex-BNP Paribas executive Amanda Rajkuma as a new human resources head following employee complaints about racism at Germany's sportswear giant that caused the leave of Karen Parkin.

Wed, 07 Oct 2020 11:35:04 GMT

Daimler to reduce fixed costs

Germany's carmaker Daimler is set to trim fixed costs, R&D and capex expenditure at its Mercedes-Benz brand by over 20% by 2025 amid its intention to take its unit further upmarket.

Wed, 07 Oct 2020 09:42:40 GMT

Japan's government asks for record funding

On Wednesday, the Finance Ministry of japan revealed that the new government has requested a $997 initial budget for the next year.

Wed, 07 Oct 2020 08:49:51 GMT

Apple plans special event on Oct. 13

Apple is planning to hold its special event next week, October 13, that would likely reveal the company's new iPhone devices with 5G capabilities.

Wed, 07 Oct 2020 08:11:21 GMT

US judge sets Nov. 4 for TikTok ban hearing

US judge is set to hold a hearing on November 4 on the potential banning of transactions with TikTok by the US government.

Wed, 07 Oct 2020 06:45:38 GMT

Sharp inks licensing agreement with Daimler

On Wednesday, Japan's Sharp stated it had signed a licensing deal with Daimler after its patent infringement lawsuit settlement against Germany's carmaker regarding the mobile communications technology.

Wed, 07 Oct 2020 05:57:04 GMT

US Congress to extend $25B bailout for US airlines

The US President Donald Trump stated late on Tuesday that Congress should provide $25B in payroll assistance to American passenger airlines furloughing employees as air travel keeps struggling from the coronavirus crisis.

Wed, 07 Oct 2020 05:02:17 GMT

AA delays 737 MAX training for pilots

As reported by the Allied Pilots Association, American Airlines has suspended plans to commence Boeing 737 MAX pilots training.

Wed, 07 Oct 2020 03:54:56 GMT

UK's authority to ban crypto-assets products

On Tuesday, the UK Financial Conduct Authority said that it would ban crypto-assets products for retail investors.

Wed, 07 Oct 2020 02:51:46 GMT

Northern Cyprus to reopen Varosha beach

On Tuesday, the Prime Minister of Northern Cyprus Ersin Tatar announced that the Varosha beach resort would be reopened on October 8.

Wed, 07 Oct 2020 01:38:36 GMT

Boeing cuts forecast for airplane demand

Boeing's shares fell as much as 3.3% on Tuesday after the US planemaker cut its airplane demand forecast for the next 20 years.

Tue, 06 Oct 2020 19:41:07 GMT

Sonos, Logitech shares drop

Shares of Logitech and Sonos, the audio device producers, plunged as much as 5.7% and 3.2% respectively on Tuesday after Apple removed their speakers from its online stores.

Tue, 06 Oct 2020 18:46:57 GMT

Apple to hold special event next week

Apple announced on Tuesday it was planning a special event for October 13, during which it most likely unveil the tech giant's new iPhone devices with 5G capabilities.

Tue, 06 Oct 2020 17:43:22 GMT

Boeing trims jet demand outlook

On Tuesday, Boeing has cut its 20-year outlook for plane demand to 43,110 jet deliveries, sending the planemaker's shares down 3.3% following the report.

Tue, 06 Oct 2020 17:09:42 GMT

Philippines inflation slows

The inflation rate in the Philippines declined to 2.3% in September from 2.4% in August, a statement published by the Philippine Statistics Authority shows.

Tue, 06 Oct 2020 15:43:49 GMT

Morocco economy declines 8.7% in Q3

The economy of Morocco contracted 8.7% in the third quarter of 2020, data published by the Moroccan national statistics office show.

Tue, 06 Oct 2020 15:21:26 GMT

WTO: world trade to decline 9.2% in 2020

World trade is expected to decline 9.2% in 2020 amid the coronavirus pandemic and increase 7.2% in 2021, a statement published by the World Trade Organization shows.

Tue, 06 Oct 2020 13:56:23 GMT

UK seeks clarity over trade deal

Boris Johnson stated on Tuesday that the UK would need to know whether or not there would be a trade deal with the EU by October 15.

Tue, 06 Oct 2020 12:49:26 GMT

Daimler to trim fixed costs by 2025

On Tuesday, Daimler announced it would reduce fixed costs, R&D and capex expenditure by over 20% by 2025 from the prior year's levels amid its Mercedes-Benz repositioning as the luxury brand.

Tue, 06 Oct 2020 11:57:21 GMT

Google Workspace becomes official name

On Tuesday, Alphabet announced that "Google Workspace" has become the new official name for the tech giant's business tools package, which includes document and email editing, replacing the old name, G Suite, introduced in 2016.

Tue, 06 Oct 2020 11:16:59 GMT

Cisco to pay $1.9B over patent lawsuit

Cisco Systems was ordered to pay $1.9B to Virginia's IT company Centripetal Networks, which accused Cisco of copying the cybersecurity patents owned by the firm.

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