News

Note: This section contains information in English only.
Wed, 07 Aug 2019 03:58:14 GMT

New Zealand's Central Bank cuts cash rate

On Wednesday, the Central Bank of New Zealand surprised the markets, by cutting its official cash rate by 50-basis points. The surprise move by the RBNZ sent the New Zealand Dollar to a ten-month low.

Wed, 07 Aug 2019 03:14:19 GMT

Trump rejects trade war concerns

On Tuesday, the US President Donald Trump shrugged off trade war concerns, as China warned that the US decision to label Beijing a currency manipulator could lead to market chaos.

Wed, 07 Aug 2019 01:51:48 GMT

Klarna becomes Europe's biggest fintech firm

Online payments company Klarna, announced on Tuesday that it had raised $460m in an equity funding, at a post valuation of $5.5 billion, making the firm, as the largest private fintech startup in Europe.

Tue, 06 Aug 2019 20:33:45 GMT

Disney misses profit expectations

Walt Disney missed Wall Street forecasts for quarterly profit, earning $1.35 per share, compared to $1.75 expected. The company's shares declined 5% to $135 on the report.

Tue, 06 Aug 2019 19:36:54 GMT

Mastercard to acquire part of Nets

Payments processor Mastercard announced on Tuesday that it i set to buy the main part of the corporate services businesses of Nets, the Scandinavian payments group, for about $3.19B, furthering the push into the markets in the Nord.

Tue, 06 Aug 2019 18:36:28 GMT

Glencore to stop production at largest cobalt mine

Glencore is expected halt production at its mine in Mutanda, the world's biggest cobalt mine, from the 2019 end after a drop in cobalt's prices, Financial Times reported.

Tue, 06 Aug 2019 17:26:05 GMT

Snap to get $1B to invest in augmented reality

Snap Inc on Tuesday stated that it is set to raise $1B in short-term debt and announced plans to invest more funds into augmented reality features, media content and consider buying other companies.

Tue, 06 Aug 2019 16:30:56 GMT

Brazilian auto output jumps 14.2%

Car production in Brazil increased 14.2%, while sales rose9.1% in July from June, the strongest monthly performance since 2014, the Anfavea stated on Tuesday.

Tue, 06 Aug 2019 15:35:32 GMT

Mercedes-Benzto retrofit old diesel cars

Daimler stated on Tuesday that customers of Mercedes-Benz in Germany could apply for a $3,350 subsidy to update the older diesel cars' exhaust filters, the latest effort between German car producers to avoid bans.

Tue, 06 Aug 2019 14:29:16 GMT

Amazon Music trims Prime subscription price for students

On Tuesday, Amazon.com has cut the price for the company's paid music streaming service from $4.99 to 99 cents/month for students who have got its Prime subscription, allowing new members to get a subscription to Amazon Music Unlimited.

Tue, 06 Aug 2019 13:35:02 GMT

German FinMin sees US-Sino tensions to hurt economy more

On Tuesday, Olaf Scholz, the German Finance Minister, stated that escalation in the trade dispute between China and the United States would further hurt the global economy.

Tue, 06 Aug 2019 11:58:41 GMT

New Media to acquire Gannett in $1.4B deal

New Media Investment, the local media company, stated on Monday it would acquire US Gannett Co in a $1.4B deal, establishing the largest newspaper owner in the US amid publishers' struggles regarding readers' shift to online news sources.

Tue, 06 Aug 2019 11:24:40 GMT

Takeaway.com agrees merger terms with Just Eat

Amsterdam's Takeaway.com and its UK competitor Just Eat have agreed on their deal terms to establish a global food delivery firm that can outrace Uber Eats as the biggest outside China.

Tue, 06 Aug 2019 09:50:26 GMT

Cybereason attracts $200M from Japan's SoftBank

On Tuesday, the antivirus startup Cybereason announced it had raised $200M in investment from the Japanese SoftBank Group, doubling its total investments raised so far to around $400M.

Tue, 06 Aug 2019 09:08:47 GMT

Vivendi considers Universal Music Group's stake sale

Vivendi has entered talks over a 10% stake of Universal Music Group to China's tech group Tencent, seeking to expand its footprint in Asia.

Tue, 06 Aug 2019 08:36:00 GMT

Deutsche Post lifts 2019 forecast amid price hikes

On Tuesday, Deutsche Post DHL stated it had raised its 2019 forecast, expecting earnings improvement in the H2, following the restructuring measures and hikes in prices of the German parcels and postage.

Tue, 06 Aug 2019 07:24:56 GMT

US Barneys files for Chapter 11 bankruptcy

On Tuesday, Barneys New York, the US luxury chin of department stores, has filed for the Chapter 11 bankruptcy protection, putting itself up for a sale, as the company faced surging rents and failed in finding a buyer for itself.

Tue, 06 Aug 2019 06:38:58 GMT

Bezos offloads $2.8B worth of Amazon shares

Amazon.com's CEO Jeff Bezos sold shares worth $990M in the e-commerce giant on the last days of July, bringing the total value of the offloaded shares to $2.8B, according to the Securities and Exchange Commission filing.

Tue, 06 Aug 2019 04:45:27 GMT

North Korea is caught

On Monday, the UN announced that North Korea has took in at least two billion dollars in revenue through cyber attacks.

Tue, 06 Aug 2019 04:26:58 GMT

Markets drop on Monday

On Monday, the US markets lost value, as vows to create new tariffs of the US President Donald Trump hit the value of stocks.

Mon, 05 Aug 2019 20:00:34 GMT

Wesfarmers receives approval for $160M Catch Group buy

The Australian competition watchdog has granted its approval on Monday for Wesfarmers $160M acquisition of Catch Group, Australia's online retailer, marking the conglomerate's third takeover deal this year.

Mon, 05 Aug 2019 18:55:41 GMT

Bombardier-led consortium gets $4.5B Egypt monorail contract

On Monday, a Bombarider-led consortium has won a contract worth over $4.5B for building and operating two Egyptian monorail lines; a project considered as the largest in recent years.

Mon, 05 Aug 2019 17:41:07 GMT

IBM announces new blockchain network

On Monday, International Business Machines and other companies, including Nokia, GlaxoSmithKline, Cisco, Lenovo, Vodafone, AB InBev, etc., have launched a new blockchain network called "Trust Your Supplier" designed for improving cumbersome and manual supply chain management.

Mon, 05 Aug 2019 16:43:20 GMT

Didi Chuxing's self-driving unit launched as independent firm

On Monday, China's ride-hailing titan Didi Chuxing announced its autonomous driving division was launched as an independent firm that would focus on research, as well as seek to deepen collaboration with carmakers.

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