News

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Sat, 13 Jul 2019 05:45:51 GMT

E.ON likely to win EU antitrust approval for Innogy deal

E.ON is set to win the EU antitrust permission to acquire its rival Innogy's retail and network assets, in a deal that might transform the German firm into the European energy market's major player, according to sources familiar with the matter.

Sat, 13 Jul 2019 05:11:27 GMT

China's Fosun set to rescue Britain's Thomas Cook

Thomas Cook is discussing £750M worth rescue that will grant its largest investor Fosun Tourism full control of the debt-laden British company's package-tour business.

Sat, 13 Jul 2019 04:16:43 GMT

India seeks to attract $47B from sales of state firms' stakes

India's government is planning to raise $47.4B over the five years by selling about 40% stakes in big state-owned companies, Reuters reported citing senior government officials, in the country's largest privatisation push in over 20 years.

Sat, 13 Jul 2019 02:46:36 GMT

AB InBev Asia scraps world's biggest 2019 IPO

On Friday, Anheuser-Busch InBev announced it had cancelled the Hong Kong planned initial public offering of Budweiser Brewing Company, the group's Asia Pacific unit, which deemed to be the world's largest listing of 2019.

Sat, 13 Jul 2019 02:26:18 GMT

Galeries Lafayette takes controlling stake in Mauboussin

On Friday, France's Galeries Lafayette stated it had tied up with Alain Nemarq, the chairman of Mauboussin, to acquire the majority stake of the jeweller, not disclosing the financial terms of the deal that should be cleared by France's Competition Authority.

Fri, 12 Jul 2019 20:02:09 GMT

Volkswagen and Ford extend multibillion dollar alliance

Volkswagen AG and Ford Motor announced on Friday that they would spend billions of the US Dollars to jointly produce self-driving and electric vehicles.

Fri, 12 Jul 2019 19:04:26 GMT

Thomas Cook to give China's Fosun minority stake

Thomas Cook is planning a $941 million rescue, that would give China's Fosun Tourism a minority stake in Thomas Cook's airline business.

Fri, 12 Jul 2019 18:00:52 GMT

BOA appoints Pauli as head of equity capital markets

On Friday, Bank of America announced the appointment of Thorsten Pauli as the head of equity capital markets in Switzerland, Austria and Germany.

Fri, 12 Jul 2019 17:02:35 GMT

Mexico's President Obrador sees no threat of recession

On Friday, The President of Mexico Andres Manuel Lopez Obrador stated that he doesn't see any threat to Mexico's economy, as he brushed aside recession concerns.

Fri, 12 Jul 2019 15:59:28 GMT

Dow and S&P 500 hit record high

The Dow Jones Industrial Average and the S&P 500 hit a record high on Friday after the US Federal Reserve's Chairman Jerome Powell remarks raised hopes on the interest rate cut.

Fri, 12 Jul 2019 15:10:20 GMT

US Labour Secretary resigns

On Friday, the US President Donald Trump announced that labour secretary Alex Acosta has resigned amid a furore over a plea deal with Jeffrey Epstein.

Fri, 12 Jul 2019 13:55:51 GMT

Apple restores parental control app OurPact

Apple Inc has restored its OurPact parental control software application this week to the App Store after it had been removed due to privacy concerns in February, the tech giant announced on Friday.

Fri, 12 Jul 2019 13:37:34 GMT

Verizon looks for buyers for Yahoo Finance

Verizon Communications has been looking for buyers earlier this year for Yahoo Finance, the financial portfolio and news management tools provider, and finished its search recently, not disclosing the potential buyer's name yet, citing the private talks.

Fri, 12 Jul 2019 11:52:20 GMT

Twitter comes back up after global outage

On Friday, Twitter's CEO Jack Dorsey announced the microblogging platform has been slowly coming back up after it suffered from the global outage on Thursday, sending the company's shares marginally down during extended trading.

Fri, 12 Jul 2019 09:57:53 GMT

China's coal imports drop 1.4% in June

Chinas' coal imports plunged as much as 1.4% to 27.1M tonnes in June, as the local miners bolstered production to ensure adequate provision ahead of summer, according to official data seen on Friday.

Fri, 12 Jul 2019 09:28:38 GMT

Euro Zone industrial output beats expectations

On Friday, Euro Zone Industrial Production data beat market consensus numbers, indicating that there might be no economic slowdown occurring in the EU.

Fri, 12 Jul 2019 08:16:26 GMT

Anadarko shareholders plan vote on Occidental deal

Anadarko Petroleum's shareholders are planning a vote on August 8 on thugs and oil producer's planned $38B sale to the oil and gas exploration and production company Occidental Petroleum, the largest deal in the industry this year.

Fri, 12 Jul 2019 06:45:16 GMT

Sprint, T-Mobile likely to prolong merger deadline

Sprint Corp and T-Mobile US are expected to prolong their 29 July deadline to finalise the $26B merger deal, sources reported, not saying further information on the new date.

Fri, 12 Jul 2019 06:38:26 GMT

Colgate to acquire French skin care business Filorga

Colgate-Palmolive announced it would acquire the French skin care business Filorga in a deal valued at $1.69B on the back of the consumer goods firm's intention to boost the personal care business.

Fri, 12 Jul 2019 05:04:06 GMT

Oil prices surge amid tropical storm

Crude oil prices increased by 31 cents or 0.5% on Friday morning, reaching $60.51 a barrel, as companies located in the Gulf of Mexico cut their output in light of the upcoming Tropical Storm Barry.

Fri, 12 Jul 2019 03:32:42 GMT

Volkswagen, Ford promise details on EV alliance

Volkswagen AG and Ford Motor stated that they were expanding the companies' global alliance announced in January with agreements expected to include collaboration over electric and autonomous cars.

Thu, 11 Jul 2019 20:01:43 GMT

China not to discriminate foreign firms

China will not discriminate foreign companies and will protect their interests and rights, a spokesperson for the Ministry of Commerce says.

Thu, 11 Jul 2019 19:11:50 GMT

Austrian Airlines increases passenger turnover

Austrian Airlines transported over 6.7M travellers in the first six months of 2019, a 5.9% increase compared to the same period the prior year, the company reports.

Thu, 11 Jul 2019 17:18:23 GMT

BoE: financial system resilient to Brexit

The British financial system is prepared for and resilient to a wide range of risks, including a disorderly Brexit, the Bank of England says.

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