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Thu, 15 Aug 2019 18:50:36 GMT

Italy's 5-Star Party not interested in new coalition with League

Luigi Di Maio, the Italian Deputy Prime Minister, said on Thursday that Italy's 5-Star Party is not interested in a new deal with Matteo Salvini's right-wing League.

Thu, 15 Aug 2019 18:01:42 GMT

Mondelez and Kraft to pay $16m fine in wheat manipulation case

On Thursday, the US Commodity Futures Trading Commission stated that Mondelez International and Kraft Heinz would pay $16m in a wheat price manipulation case.

Thu, 15 Aug 2019 17:01:45 GMT

US 30-year Treasury yields fall to new record low

The US 30-year Treasury bonds dropped to a new record low on Thursday due to worries about a potential US recession and a global economic slowdown.

Thu, 15 Aug 2019 16:27:32 GMT

Intact Financial to acquire insurers in C$1.0B

On Thursday, Canada's Intact Financial has agreed to acquire the insurers Frank Cowan Co and The Guarantee Co of North America in a $1.0B cash-deal with Princeton Holdings.

Thu, 15 Aug 2019 15:29:37 GMT

UPS takes TuSimple stake, tests autonomous trucks in Arizona

On Thursday, UPS announced it had taken a minority stake in the self-driving firm TuSimple, while also launched the start-up's autonomous trucks testings in Arizona, as the company sought to build driverless vehicles for the government's regular use.

Thu, 15 Aug 2019 14:34:26 GMT

US antitrust unit calls for extra info from United Tech, Raytheon

The US DoJ antitrust division made a request for additional information on Raytheon, United Technologies $120B merger deal, as the tie-up could potentially intensify the consolidation pace in the aerospace and defence industry.

Thu, 15 Aug 2019 12:41:39 GMT

Cisco China sales hit by Trump's tariffs

On Thursday, Cisco reported its China sales dropped as much as 25% due to the tariffs on Chinese-made goods imposed by the US President Donald Trump, sending the company's shares down 8% to $46.53.

Thu, 15 Aug 2019 12:12:54 GMT

Boeing postpones 777X's ultra-long-range version delivery

Boeing has delayed the launch of its 777X widebody jet's ultra-long-range version, the American planemaker announced late on Wednesday, as the company struggles from the fallout caused by the 737 MAX crisis and the 777X engine issues.

Thu, 15 Aug 2019 11:11:26 GMT

Vision Fund invests $110M in Swiss firm Energy Vault

The SoftBank Group-owned Vision Fund made a $110M bet on renewable energy storage by investing in the Swiss company Energy Vault, the firm announced on Thursday.

Thu, 15 Aug 2019 10:14:51 GMT

Consumer debt in Russia causes bubble fears

On Thursday, Russian state pollster VTsIOM revealed that more than half of Russians admit to having high debt. The data caused bubble fears that impacted the Russian Rouble.

Thu, 15 Aug 2019 09:35:48 GMT

Lenovo plans to lift prices to absorb US tariffs

The largest PC maker in the world, China's Lenovo Group, announced on Wednesday it would have to lift prices for its products, if the US tariffs increased, sending the company's shares down 6.5%.

Thu, 15 Aug 2019 08:09:18 GMT

UK's Labour Party seeks to delay Brexit, bring down PM Johnson

The UK opposition Labour Party has launched its bid aimed at bringing the Prime Minister Boris Johnson down with a no-confidence vote, calling on the lawmakers to unite behind the Jeremy Corbyn-led caretaker government to prevent Britain's exit from the EU bloc without a deal.

Thu, 15 Aug 2019 06:19:17 GMT

VMWare considers to acquire Pivotal Software

VMWare has entered talks to acquire Pivotal Software in a potential deal that values the software development maker at around $4.0B, according to the Dell Technologies regulatory filing released on Wednesday.

Thu, 15 Aug 2019 05:24:55 GMT

Ford to extend warranties on Fiesta, Focus models

Ford Motor stated that it extended warranties over clutch and related hardware in 560K Fiesta and Focus cars in the US and Canada after reports on problems with the six-speed transmission.

Thu, 15 Aug 2019 03:59:56 GMT

Chinese new home prices up 0.6%

Prices of new homes in China grew 0.6% month-on-month in July, with the property sector seen as the one of bright spots in the slowing economy, the NBS data revealed on Thursday.

Thu, 15 Aug 2019 03:31:09 GMT

Lenovo's profit more than doubles in Q1

China's PC maker Lenovo reported a two-fold increase in first-quarter profit to $162M, beating analysts' expectations owing to robust personal computers' sales.

Wed, 14 Aug 2019 19:51:39 GMT

WeWork prepares for IPO next month

On Wednesday, The We Company, the owner of WeWork, has released its detailed financial statements, marking the loss of $900M in the 2019 H1, while revenue doubled to $1.54B, as the company is getting ready for the initial public offering scheduled for the next month.

Wed, 14 Aug 2019 18:53:35 GMT

Sprint, T-Mobile merger likely to be approved

Ajit Pai, the FCC Chairman, has issued a draft order on Wednesday to approve the $26.0B merger between T-Mobile US and Sprint Corp, following the deal approval granted by the US Justice Department last month.

Wed, 14 Aug 2019 18:14:29 GMT

Oil plunges 5% amid weak global economic data

On Wednesday, prices for oil tumbled roughly 5% after weak economic data from Europe and China revived the global demand fears, while the United States reported an unexpected increase in crude inventories for the second week in succession.

Wed, 14 Aug 2019 17:34:43 GMT

CEO sees Brazil's Eletrobras to be privatised in 2020

Wilson Ferreira Jr., the Chief Executive Officer of Centrais Eletricas Brasileiras, the Brazilian state-controlled power holding, expected the government to privatise the firm via share offering by March 2020.

Wed, 14 Aug 2019 15:43:34 GMT

China's Meituan Dianping to build mapping service

China's food delivery company Meituan Dianping has launched the development of mapping service, seeking to enter the area that is currently dominated by Baidu Maps and Alibaba's AutoNavi.

Wed, 14 Aug 2019 14:43:15 GMT

US import prices surge unexpectedly in July

US import prices skyrocketed by 0.2% in July, while the underlying trend remained weak, pointing to decreasing imported inflation pressures, according to the Labor Department's report published on Wednesday.

Wed, 14 Aug 2019 14:22:17 GMT

Argentina's peso weakens on Macri tax cuts

On Wednesday, Argentine peso opened weaker after the President Mauricio Macri announced he would trim income taxes and bolster social services subsidies, two days after the economic turmoil caused by the election upset by the opposition candidate Alberto Fernandez.

Wed, 14 Aug 2019 11:45:13 GMT

Genworth plans Canada unit stake sale for $1.81B

On Tuesday, Genworth Financial agreed on the 57% stake sale in its Canada mortgage insurance unit to the investment manager Brookfield Business Partners in a deal valued at $1.81B.

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