News

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Fri, 30 Oct 2020 17:43:07 GMT

US approves 50 F-35 jet sale to UAE

The United States has granted its approval for 50 Lockheed Martin F-35 aircraft sale to the UAE in a potential deal that worth $10B.

Fri, 30 Oct 2020 16:59:32 GMT

Exxon reports third consecutive loss

Exxon Mobil has reported on Friday another quarterly loss, adding it expects deeper spending cuts in the future, as the coronavirus pandemic hit prices and energy demand.

Fri, 30 Oct 2020 16:36:40 GMT

Chevron reports surprise Q3 profit

On Friday, Chevron Corp reported a surprise Q3 profit on oil prices recovery from spring plunge and spending trims benefited operating results.

Fri, 30 Oct 2020 15:35:57 GMT

Wall Street plunges on tech stocks drop

On Friday, the main indexes of Wall Street dropped at the open, tumbled by the tech heavyweights selloffs after the underwhelming business updates and rising coronavirus cases.

Fri, 30 Oct 2020 14:03:01 GMT

Ant's IPO likely to hit record $3 trillion

Retail investors have placed their bids for the record $3 trillion for Ant Group's IPO, which is set to become the world's largest listing.

Fri, 30 Oct 2020 12:37:26 GMT

Sony considers buying Crunchyroll

Sony Corp has entered final negotiations with AT&T over the acquisition of Crunchyroll, the US animation-streaming service, in a potential deal valued over $957M, according to the Nikkei.

Fri, 30 Oct 2020 11:15:11 GMT

Apple loses stock value

On Friday, Reuters reported that Apple lost nearly $100 billion in market cap due to its late launch of 5G phones.

Fri, 30 Oct 2020 09:42:31 GMT

Amazon expects jump in holiday sales

Amazon.com is expecting a surge in its holiday sales and costs caused by the pandemic, as consumers keep shopping online.

Fri, 30 Oct 2020 09:35:32 GMT

Twitter shares plunge 16%

Twitter Inc reported it had missed the Wall Street's forecasts for new subscribers, adding it was expecting expenses growth to accelerate in the Q4, sending its shares down 16%.

Fri, 30 Oct 2020 07:43:15 GMT

Apple posts steepest Q3 iPhone sales drop

Apple reported the sharpest decline in its iPhone sales in the last two years, caused by the delay of the new iPhone 12 launch that prompted the customers to postpone buying new devices.

Fri, 30 Oct 2020 07:37:11 GMT

Google powers back to sales growth

Alphabet's Google reported its sales growth revived, topping analysts' estimates for its Q3 as the pandemic had resumed advertising with internet's largest supplier of ads.

Fri, 30 Oct 2020 05:55:52 GMT

Exxon cuts jobs

Exxon Mobil Corp announced on Thursday that the company would cut its global workforce by approximately 14,000 jobs.

Fri, 30 Oct 2020 05:30:27 GMT

Juul cuts valuation

Electronic cigarette maker Juul announced on Thursday that the company would decrease its valuation to $10 billion from $38 billion.

Fri, 30 Oct 2020 04:31:15 GMT

Oil falls on Thursday

On Thursday, crude oil prices declined, as demand continued to decrease due to global coronavirus measures.

Thu, 29 Oct 2020 21:43:08 GMT

Euro reaches four-week low

During Thursday's US trading hours, the Euro reached a four-week low level against the US Dollar.

Thu, 29 Oct 2020 20:45:33 GMT

Siemens to sell Flender for €2.02B

Siemens agreed to sell Flender mechanical drives unit to the US buyout company Carlyle Group for €2.025B, the German engineering group stated.

Thu, 29 Oct 2020 19:56:37 GMT

Sony licensed to export sensors to Huawei

Sony and OmniVision Technologies were granted US licences to resume shipping image sensors to China's Huawei Technologies, Nikkei Asia reported.

Thu, 29 Oct 2020 19:06:17 GMT

AmEx to invest $1B in diversity push

American Express announced that it invested $1B to advance gender and racial and equality, aiming to promote social justice.

Thu, 29 Oct 2020 18:00:11 GMT

UK car production falls

Car production in the UK declined 5% to 114,732 units in September, compared to the same period the prior year, the British Society of Motor Manufacturers and Traders reports.

Thu, 29 Oct 2020 17:03:34 GMT

US economy expands 33.1% in Q3

The US economy expanded at an annualized rate of 33.1% in the third quarter of 2020 after a slump in the previous quarter, data published by the US Commerce Department show.

Thu, 29 Oct 2020 15:23:18 GMT

Marvell to acquire Inphi in $10B chip deal

Marvell Technology Group announced on Thursday it would acquire the Inphi peer in a $10B cash-and-stock deal to broaden the chip supplier's footprint in 5G network infrastructure and data centres.

Thu, 29 Oct 2020 14:35:29 GMT

US economy shows record growth in Q3

The US economy showed record growth in its Q3 after the government had poured out over $3 trillion worth of the pandemic relief that boosted consumer spending, Reuters reported.

Thu, 29 Oct 2020 13:19:17 GMT

Tesla plans 52 service centre openings in 2021

Tesla is planning to open about 52 new service centres in 2021, according to Electrek's report published on Thursday.

Thu, 29 Oct 2020 12:33:13 GMT

LVMH, Tiffany cut deal's price

LVMH and Tiffany have agreed on a reduced price of $131.5 per share for the planned acquisition of the US luxury jeweller, bringing the final valuation of the deal to around $15.8B.

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