News

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Tue, 07 Jul 2020 12:31:26 GMT

Indonesia puts 10% VAT on tech firms

On Tuesday, Indonesia has imposed a 10% VAT on the technology companies' sales, such as Google, Netflix, Amazon and Spotify, amid shifts in spending patterns along with rising remote working triggered by the coronavirus crisis.

Tue, 07 Jul 2020 11:21:50 GMT

Samsung Elec posts Q2 profit jump

On Tuesday, Samsung Electronics reported a 23% jump in its Q2 operating profit, topping analysts' estimates, driven by solid chip sales during the coronavirus lockdowns.

Tue, 07 Jul 2020 10:17:05 GMT

US government funds vaccine

On Tuesday, the US government awarded Novavax a $1.6 billion contract to develop a coronavirus vaccine.

Tue, 07 Jul 2020 09:01:31 GMT

Nokia launches open interfaces

On Tuesday, Finland's Nokia has become the first telecom equipment giant to add open interfaces to its products, designed to allow mobile operators to create networks not tied to any vendor.

Tue, 07 Jul 2020 08:19:30 GMT

Palantir Tech confidentially files for IPO

Palantir Technologies, the data analytics company, said it had confidentially filed for the initial public offering with the US Securities and Exchange Commission.

Tue, 07 Jul 2020 06:43:31 GMT

Deutsche Bank teams up with Google

On Tuesday, Deutsche Bank stated it had agreed on a multi-year, strategic partnership with Google, granting the German bank access to its cloud services, as well as drive innovation in the technology-based financial products oriented at clients.

Tue, 07 Jul 2020 06:37:53 GMT

TikTok to exit Hong Kong market soon

TikTok announced it would withdraw from the Hong Kong market during the following days, as other tech firms, including Facebook, halt processing the government requests for customer data in the region.

Tue, 07 Jul 2020 05:15:43 GMT

Bailey addresses Conservatives

On Monday, it was revealed that the Governor of the Bank of England Andrew Bailey would host a private meeting with members of the Conservative party.

Tue, 07 Jul 2020 04:31:22 GMT

EU Commission approves Austrian Airlines loan

On Monday, the Commission of the European Union approved a 150 million euro loan to the Austrian Airlines.

Tue, 07 Jul 2020 03:31:36 GMT

Oil trades steady

During US trading hours, crude oil prices remained steady as a decline in supply was outweighed by virus caused demand decreases.

Mon, 06 Jul 2020 20:41:37 GMT

Wall Street gains on Monday

During Monday's US trading hours, stock indices surged, as data revealed growth in the US services sector.

Mon, 06 Jul 2020 19:41:17 GMT

Fujitsu to reduce office space by half

Japan's Fujitsu is planning to reduce its office space by half in three years amid reorganising the way its employees would work, introducing flexible hours for nearly 80K staff.

Mon, 06 Jul 2020 18:48:20 GMT

Wirecard's Dubai head arrested on Monday

On Monday, German prosecution arrested Wirecard's Dubai head as part of the multi-billion-dollar fraud probe over the payments company's collapse.

Mon, 06 Jul 2020 17:41:39 GMT

Ford to challenge Jeep with Bronco SUV

Ford Motor has launched on Monday new marketing and product strategy for its Bronco SUVs, seeking to challenge Fiat Chrysler's profitable Jeep franchise.

Mon, 06 Jul 2020 16:42:01 GMT

Brazil sees auto sales recovery in 2025

On Monday, the Brazilian automakers association stated it only expected car sales recovery in 2025, blaming the coronavirus crisis to hit too hard, when it has already been a week spot of the country.

Mon, 06 Jul 2020 16:08:34 GMT

NMI soared in June

On Monday, the US-based Institute of Supply Management reported the Non-Manufacturing Index climbed to 57.1 points in June, signaling possible recovery after coronavirus-caused lockdowns.

Mon, 06 Jul 2020 15:16:31 GMT

Tesla's red shorts sold out

The US electric vehicle producer Tesla sold out the satin shorts they offered to ridicule short-sellers after surpassing the market capitalization of Toyota.

Mon, 06 Jul 2020 14:00:12 GMT

Irish coronavirus jobless claims drop to 413K

The number of the COVID-19-related temporary jobless claims in Ireland dropped to 412,900, compared to the previous reading of 439,000, according to the government data published on Monday.

Mon, 06 Jul 2020 12:14:11 GMT

Lloyds Bank head to step down in 2021

Lloyds Bank's CEO António Horta-Osório announced on Monday that he was set to step down from his post the next year, leaving the British largest domestic bank to search for a successor to replace him.

Mon, 06 Jul 2020 11:39:33 GMT

UK considers tax cuts amid COVID recovery

Rishi Sunak, the British finance minister, is planning to restart the UK economy by granting homebuyers a tax break, while cutting the value-added tax for hospitality firms, pubs and restaurants, according to The Times newspaper.

Mon, 06 Jul 2020 09:41:18 GMT

Global stocks surge

During Monday's European trading hours, global stock indices surged to a four week high level. The surge was attributed to an increase of economic activity in China.

Mon, 06 Jul 2020 09:04:33 GMT

Ford's China ventures reports car sales growth

On Monday, Ford Motor's China ventures posted a 7.7% jump in its year-over-year sales in June, marking the ongoing recovering from the coronavirus crisis, but not disclosing the number of vehicles sold.

Mon, 06 Jul 2020 08:12:13 GMT

Berkshire to acquire Dominion Energy's gas assets

Warren Buffet's Berkshire Hathaway announced that its energy unit would acquire Dominion Energy's natural gas assets for $4B, in a move to reduce the conglomerate's cash pile, Reuters reported.

Mon, 06 Jul 2020 06:41:04 GMT

Uber to buy Postmates in $2.65B all-stock deal

Uber Technologies, the ride-sharing company, is set to acquire the food-delivery app Postmates in a $2.65B all-stock deal, according to a Bloomberg News report published late Sunday.

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