News

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Thu, 21 May 2020 08:17:32 GMT

Google Cloud ties up with US defense department

On Wednesday, Alphabet's Google Cloud stated it had secured a contract with the US Department of Defense, aiming to detect cyber threats and take necessary measures.

Thu, 21 May 2020 07:35:43 GMT

Softbank plans 5% sale of domestic telco

SoftBank Group Corp announced it would sell 5% of the company's domestic telco amid its plan to attract $41B through asset sales.

Thu, 21 May 2020 04:48:22 GMT

Lufthansa in talks on state rescue deal

Lufthansa was in negotiations with the German government's ESF on a €9B worth rescue deal, including the state taking a stake of 20% in the airline.

Thu, 21 May 2020 04:17:51 GMT

Samsung Electronics to build sixth chip-making line

Samsung Electronics started building a sixth domestic contract chip production line to manufacture logic chips for computers and mobile phones.

Thu, 21 May 2020 03:35:06 GMT

SelectQuote raises $360M in IPO

SelectQuote, the US insurance policy comparison website, raised $360M after selling its shares in the IPO above target range.

Wed, 20 May 2020 20:50:48 GMT

France wants to remain Renault's global centre

The French government is set to insist on keeping Renault plants in France and wants to remain global centre for engineering and R&D of the carmaker.

Wed, 20 May 2020 19:43:26 GMT

Apollo Global invests $1.75B in Albertsons

Buyout company Apollo Global Management invested $1.75B in Albertsons Companies, indicating confidence in the US supermarket chain, whose fortunes picked up during the crisis.

Wed, 20 May 2020 18:47:22 GMT

Norway's oil output up 4.5% in April

Norway's oil production grew 4.5% month-over-month to 1.78M bpd in April, beating official forecasts, the Norwegian Petroleum Directorate stated.

Wed, 20 May 2020 18:02:41 GMT

Poland adopts regulations against non-EU investors

The Polish government approved regulations aimed at prevent non-EU investors from taking over firms cheaply that Poland considered strategic for the economy.

Wed, 20 May 2020 16:50:14 GMT

Harley to send fewer models to dealers in US

Harley-Davidson Inc is set to reopen factories this week at diminished production rates and send fewer motorcycles to its dealers in the US, the WSJ reported.

Wed, 20 May 2020 15:59:23 GMT

Xiaomi sales rise in Q1

Xiaomi Corp reported a 13.6% increase in Q1 revenue, thanks to higher sales of phones, including higher-priced 5G models.

Wed, 20 May 2020 14:42:15 GMT

EZ inflation revised down to 0.3% in April

Euro zone yearly inflation rate was revised down to 0.3%, as energy prices declined more than anticipated, final data released by Eurostat revealed.

Wed, 20 May 2020 13:54:14 GMT

Nestle plans footprint expansion in China

On Wednesday, the food giant Nestle announced about its plans to invest $103.58M into building a plant-based food facility located in China, as the Swiss group seeks to expand its footprint in the Asian country.

Wed, 20 May 2020 13:25:54 GMT

Walmart store, online sales soar on higher demand

Walmart's stores and online sales surged to their record in Q1, driven by higher demand for cleaning supplies and food that grew during the lockdowns, sending the company's shares up 3.4%.

Wed, 20 May 2020 12:36:49 GMT

Rolls-Royce to cut 9K jobs in air travel drop

Britain's Rolls-Royce is planning to slash at least 9K jobs, which is over a sixth of the company's workforce, in the air travel slump caused by the coronavirus pandemic.

Wed, 20 May 2020 11:06:59 GMT

Xiaomi posts 13.6% jump in Q1 revenue

The Chinese smartphone maker Xiaomi Corp reported on Wednesday its Q1 revenue rose as much as 13.6%, despite falling demand for its phones due to the coronavirus crisis.

Wed, 20 May 2020 09:50:59 GMT

EU watchdog comments on coronavirus

On Wednesday, the European Securities and Markets Authority stated that companies should provide coronavirus impact assessments in their half-year reports.

Wed, 20 May 2020 09:38:04 GMT

Alibaba plans $1.4B investment in AI, IoT system

On Wednesday, Alibaba Group Holding stated it would invest $1.41B into a system of artificial intelligence and Internet of Things for its smart speaker Tmall Genie, as the e-commerce giant pushes into new tech and business sectors.

Wed, 20 May 2020 07:44:59 GMT

J&J to halt sales of talc baby powder in Canada, US

Johnson & Johnson will stop its talc Baby Powder sales in Canada and the United States, as demand plunged due to "misinformation" over its product's safety, with the company facing over 19K lawsuits from consumers.

Wed, 20 May 2020 07:28:49 GMT

Facebook to roll out new shopping feature

Facebook Inc is set to launch a new feature called Shops, a shopping service that allows businesses to sell products on the biggest social network platforms in the world, its CEO Mark Zuckerberg stated.

Wed, 20 May 2020 06:04:03 GMT

Lenovo profit tops Q4 forecasts

The world's largest personal computer maker Lenovo Group posted a deep fall of 64% in its Q4 profit to $43M amid disruptions triggered by the coronavirus pandemic, but still beat analysts forecasts.

Wed, 20 May 2020 04:43:59 GMT

Airlines report slower ticket cancellations

Shares of US airlines soared on Tuesday after major US airlines and the Canadian Airlines reported fewer ticket cancellations.

Wed, 20 May 2020 03:52:42 GMT

Mexican annual inflation accelerates in May

According to a Reuters survey, published on Tuesday, Mexico's annual inflation accelerated in early May due to a surge in the cost of some foodstuffs and gasoline.

Wed, 20 May 2020 02:52:33 GMT

Russia's GDP slows to 1.6% in Q1

According to preliminary data, released by the Russian Federal Statistics Service on Tuesday, Russia's economic growth slowed to 1.6% in the Q1.

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