News

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Thu, 23 Jan 2020 15:43:57 GMT

Mercedes EV production target slashed to 30K

Daimler reduced its 2020 output targets for the Mercedes-Benz EQC electric vehicle to 30K from nearly 60K due to battery cells' supply shortage from LG Chem.

Thu, 23 Jan 2020 14:52:51 GMT

BP names new finance chief

BP hs appointed Bernard Looney as the oil and gas company's new finance chief to succeed Brian Gilvary, who is set to resign in June eight years after being in the role.

Thu, 23 Jan 2020 13:40:12 GMT

STMicro Q4 earnings top estimates

On Thursday, the Q4 results of STMicroelectronics, the Franco-Italian chipmaker, exceeded analysts expectations on demand for the next-generation chips that helped to offset a decline in traditional products.

Thu, 23 Jan 2020 12:57:28 GMT

Bain Capital plans to buy Japan's Showa Aircraft for $633 million

Bain Capital, the US private equity firm, is planning to acquire the Japanese transportation equipment maker Showa Aircraft Industry from the heavy industry group Mitsui E&S Holdings in a deal worth $633M.

Thu, 23 Jan 2020 11:49:38 GMT

Google finds security flaws in Apple's web browser: FT

Google researchers found security flaws in Apple's Safari web browser in a specifically designed tool for privacy protection, which allowed to track its users' browsing behaviour, according to the Financial Times report.

Thu, 23 Jan 2020 10:43:07 GMT

HK Exchange Fund posts record income

On Thursday, the Monetary Authority of Hong Kong revealed that the Hong Kong Exchange Fund that backs the HK Dollar in 2019 reached the second highest income in its history.

Thu, 23 Jan 2020 10:31:40 GMT

Ex-Seat CEO likely to be in talks with Renault

Volkswagen's chief executive said to CNBC on Thursday that the former CEO of VW's Spanish brand Seat, Luca de Meo, was potentially in talks with the French carmaker Renault.

Thu, 23 Jan 2020 08:44:08 GMT

UK to make Huawei decision soon

Britain is set to pass its verdict soon on the role the Chinese giant Huawei will have in the country's 5G telecommunications network, given there are only a couple of alternative providers, business minister said on Thursday.

Thu, 23 Jan 2020 08:23:15 GMT

Netflix tops estimates for subscribers in Q4

Netflix reported it had added 8.76M paid global subscribers in the Q4, beating Wall Street's estimates, on the back of new competition from Walt Disney and Apple streaming services.

Thu, 23 Jan 2020 06:04:47 GMT

Ford anticipates $2.2B pre-tax hit in Q4

Ford Motor announced its expectations for fourth quarter results to be hit by a pre-tax loss of nearly $2.2B amid higher contributions to employees pension plans.

Thu, 23 Jan 2020 04:36:05 GMT

Real estate developer to buy Philadelphia refinery

Hilco Redevelopment Partners, the real estate developer, entered into a $240M deal to buy the Philadelphia Energy Solutions oil refinery.

Wed, 22 Jan 2020 22:25:06 GMT

Rogers to spend up to C$2.9B this year

Rogers Communications is set to spend up to C$2.9B in 2020 to expand the company's communications infrastructure in Canada, including for 5G.

Wed, 22 Jan 2020 20:47:14 GMT

FCA head notes progress in Peugeot merger talks

Fiat Chrysler's CEO Michael Manley has highlighted on Wednesday the merger talks between the Italian-American corporation and France' PSA Group to build the world's No. 4 automaker were progressing well, expressing hopes for a deal to be signed in 12-14 months.

Wed, 22 Jan 2020 19:50:48 GMT

Tesla's market valuation surpasses $100B

On Wednesday, Tesla Inc has become the first publicly-listed US automaker to race past $100B in market valuation, making its stock more than doubling in the last three months.

Wed, 22 Jan 2020 18:58:55 GMT

Toyota to phase out 3.4M vehicles across globe

Toyota Motor is planning a recall of 3.4M vehicles across the world amid an electronic defect, which can pose a threat of airbags not deploying in crashes.

Wed, 22 Jan 2020 16:42:55 GMT

Eurazeo prepares for payments firm Planet sale

Buyout fund Eurazeo hired Evercore and Citigroup to prepare the sale of payments company Planet, where the firm could be valued at up to €2B.

Wed, 22 Jan 2020 15:46:10 GMT

Canadian yearly inflation steady at 2.2%

Canada's December inflation rate remained unchanged at 2.2%, supported by higher prices of energy and balanced by weaker gains in food and car prices.

Wed, 22 Jan 2020 15:33:18 GMT

Firms consider bids for Malaysian digital bank licence

Various companies, such as Grab, Razer, AirAsia, Axiata and CIMB, are among bidders to apply for the Malaysian digital banking, Reuters reported on Wednesday.

Wed, 22 Jan 2020 14:37:58 GMT

Boeing looks at developing new tech for light aircraft

Boeing Co agreed with Israel's Tactical Robotics to consider the development of a new technology of ducted fan propulsion to use in the autonomous and piloted light aircraft, the planemaker stated on Wednesday.

Wed, 22 Jan 2020 13:27:34 GMT

Google CEO expects big opportunity in healthcare

Alphabet's CEO Sundar Pichai stated on Wednesday he was expecting the major opportunity for using AI in healthcare during the following 5-10 years that would improve outcomes.

Wed, 22 Jan 2020 12:15:16 GMT

Toyota to recall 3.4M vehicles worldwide

Toyota Motor is set to recall 3.4M vehicles across the world due to an electronic defect, which can result in airbags not deploying in crashes.

Wed, 22 Jan 2020 11:36:52 GMT

Bank of America expands in Asia

On Wednesday, Bank of America announced that it would hire 50 new bankers for deal making in Asia in 2020.

Wed, 22 Jan 2020 10:13:01 GMT

Alstom shares jump amid potential deal with Bombardier

On Wednesday, shares in Alstom, the French train manufacturer, surged 2%, hitting their record-high in nearly two years, on a report of the potential deal with Bombardier, in which the Canadian jet maker seem to combine its rail business.

Wed, 22 Jan 2020 09:39:07 GMT

BlackRock builds 5% stake in ex-Toshiba arm

BlackRock Inc built a stake worth 5.12% in Toshiba Machine, the former subsidiary of Toshiba Corp that had been targeted by the Japanese prominent activist investor, the US asset manager reported on Wednesday.

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