News

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Fri, 05 Jul 2019 19:36:22 GMT

BMW's Krueger not to stay for second term

The CEO of German car producer BMW Harald Krueger stated on Friday that he would not stay for a second term and would leave his post in 2020.

Fri, 05 Jul 2019 18:50:51 GMT

Moody's keeps positive projection for China

One of the top credit rating agencies Moody's has decided to keep the A1 rating for China, saying that its positive outlook has not changed.

Fri, 05 Jul 2019 18:17:05 GMT

Businesses welcome Australia's tax reforms

The Business Council of Australia stated on Thursday that approved by the Senate $111B worth tax reforms would help boosting the country's economy.

Fri, 05 Jul 2019 17:28:28 GMT

Fed: labour market strong, weak inflation temporary

The US Federal Reserve stated on Friday in the report to Congress that the country's economic growth was still at a strong pace in the H1 of the year, but it likely slowed in recent months, as higher tariffs affected global trade and business investments declined.

Fri, 05 Jul 2019 16:39:39 GMT

Russia, Italy hold bilateral talks

On Thursday, the Russian President Vladimir Putin paid an official visit to Italy and discussed bilateral relations as well as international security issues with the country's President Sergio Mattarella and Prime Minister Giuseppe Conte.

Fri, 05 Jul 2019 15:25:10 GMT

India proposes tax waivers for EV

India proposed tax benefits over the purchase of electric cars and removed import tax on some vehicle components to encourage sales and reduce the country's dependence over fossil fuels.

Fri, 05 Jul 2019 14:34:12 GMT

VW, Ford agree to share electric, self-driving tech

Volkswagen has agreed with Ford Motor on an outline deal to share their autonomous and electric car technologies, expanding their cooperation beyond their alliance on commercial vehicles, sources reported on Friday.

Fri, 05 Jul 2019 13:25:06 GMT

Ford Motor Q2 car sales in China drop by 21.7%

Ford Motor's China car sales in the Q2 plunged by as much as 21.7%, after the US carmaker was hit by a slowing economy due to the US-China trade war and limited new models launched for buyers to choose from.

Fri, 05 Jul 2019 11:53:50 GMT

Ireland fines Wells Fargo for reporting breaches

On Friday, Wells Fargo's Irish division was fined €5.9M for a series of breaches related to regulatory reporting, becoming the second-biggest fine ever issued by the Central Bank of Ireland.

Fri, 05 Jul 2019 11:38:48 GMT

Deutsche Bank to establish separate "corporate bank" arm

Deutsche Bank's sources announced on Friday it was planning to establish a separate "corporate bank" division that would seek to the streamline services that were spread throughout the lender at that moment.

Fri, 05 Jul 2019 09:34:59 GMT

Oil producer Siccar Point explores potential sale

Siccar Point, the North Sea gas and oil producer, is exploring its potential sale that could take place later this year, seeking to raise interest for the untapped North Sea's resources, according to banking and industry sources.

Fri, 05 Jul 2019 07:50:05 GMT

GM Q2 car sales in China drop 12%

General Motors' China car sales in the Q2 plunged as much as 12.2%, after the US carmaker was hit by a slowing economy due to the US-China trade war and by severed competition in its major mid-priced SUV segment.

Fri, 05 Jul 2019 07:38:59 GMT

UK regulator to probe Amazon's Deliveroo investment

The British competition regulator is set to examine Amazon's investment in the online food delivery firm Deliveroo on Friday, seeking to pause the deal.

Fri, 05 Jul 2019 06:31:31 GMT

Budweiser APAC has no intention for M&A after IPO

Budweiser APAC's Asian business CEO Jan Craps stated on Friday the company would not rely on mergers and acquisition deals to boost it growth after launching an initial public offering planned for this year in Hong Kong.

Fri, 05 Jul 2019 05:00:32 GMT

China to continue improving business environment

The Chinese Premier Li Keqiang stated on Thursday that the government would continue building internationalized, market-oriented and open business environment.

Fri, 05 Jul 2019 04:03:56 GMT

China insists on abolishment of additional tariffs

The Ministry of Commerce of China stated on Friday that the US must lift all additional tariffs in order to conclude new bilateral trade agreement.

Fri, 05 Jul 2019 02:46:00 GMT

Samsung Electronics' profit outlook weak

Samsung Electronics announced expectations for a plunge in the Q2 operating profit for the third quarter in succession, as chip prices declined amid a supply glut and the US-China trade war's caused havoc in global markets of chips and smartphones.

Fri, 05 Jul 2019 02:32:34 GMT

Japanese household spending up 4.0% in May

Household spending in Japan grew at the fastest rate in four years of 4.0% in May, indicating improving domestic demand, which is likely to offer support for the economy facing rising external pressure.

Thu, 04 Jul 2019 19:17:48 GMT

ECB's Rehn stands for more stimulus

The member of the European Central Bank Governing Council Olli Rehn stated on Thursday that the bank must provide more stimulus, as the Euro Zone's slowdown was no longer temporary.

Thu, 04 Jul 2019 18:13:54 GMT

Indian prosecutors probe France's Mersen

According to sources familiar with the matter, the Competition Commission of India has started an investigation over price collusion between France's Mersen SA and local Assam Carbon Products.

Thu, 04 Jul 2019 17:21:25 GMT

William Hill to close shops in Britain

William Hill stated on Thursday that it would close nearly 30% of its betting stores in the United Kingdom because of decrease of the maximum stake on certain gaming terminals.

Thu, 04 Jul 2019 15:59:31 GMT

Dott to set up e-bike hiring business

European start-up Dott secured $34M in new fundraising led by existing investors South Africa's Naspers and EQT to launch an e-bike hiring business and roll out electric scooters' new generations.

Thu, 04 Jul 2019 15:30:56 GMT

India plans $330B investment renewables by 2030

India announce don Thursday that it needs $330B in investments in the next decade to power the country's renewable energy capacity, though coal is still likely to remain central to electricity generation.

Thu, 04 Jul 2019 13:50:14 GMT

US Representative Amash resigns from Republican Party

Justin Amash, the US Representative, announced on Thursday he was resigning from the Republican Party, adding that politicians had become less loyal to the American people in comparison with their parties.

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