News

Note: This section contains information in English only.
Tue, 18 Jun 2019 10:53:13 GMT

Volvo to tie up with Nvidia over AI technology

The Swedish truckmaker Volvo is set to team up with the US chipmaker Nvidia for the next couple of years over artificial intelligence development for self-driving trucks, the firms announced on Tuesday.

Tue, 18 Jun 2019 09:53:16 GMT

Facebook goes into cryptocurrencies

On Tuesday, it was announced by Facebook that the company plans to launch its cryptocurrency, which is named Libra. Moreover, the social network will offer crypto wallets named Calibra.

Tue, 18 Jun 2019 09:38:23 GMT

Alibaba appoints CFO Wu in charge of investment

On Tuesday, China's Alibaba Group announced that Maggie Wu, its Chief Financial Officer, will be in charge of the company's strategic investments unit, succeeding Joe Tsai, the Executive Vice-Chairman, amid the group's major management reshuffle.

Tue, 18 Jun 2019 08:39:34 GMT

VW to bolster in-house software development by 2025

On Tuesday, Volkswagen announced it would put 5K digital experts into its new Car.Software unit by 2025, as the German carmaker seeks to bolster the in-house software development to 60%, up from nearly 10% currently.

Tue, 18 Jun 2019 07:34:23 GMT

Finland's Tieto to acquire Nordic peer Evry for $1.5B

Tieto, the Finnish technology firm, has signed a cash-and-shares deal to acquire its Norwegian competitor Evry for $1.5B; a merger that will establish digital consultancy with 24K employees and annual revenues of about €3.0B.

Tue, 18 Jun 2019 04:41:04 GMT

Asian stocks remain stable

During Tuesday's Asian trading session, Asian stock indices remained stable. The event was attributed to investors being cautious prior to this week's central bank announcements.

Tue, 18 Jun 2019 04:35:03 GMT

Kuroda plans economic risk debate

On Tuesday, the Governor of Bank of Japan Haruhiko Kuroda announced that during this week's rate review the bank's officials will debate increasing foreign economic risks.

Mon, 17 Jun 2019 20:28:15 GMT

Iran calls oil market "unstable"

The Oil Minister of Iran Bijan Zanganeh stated on Monday that the international crude oil market was fragile, volatile and highly influenced by politics.

Mon, 17 Jun 2019 19:25:41 GMT

Deutsche to minimize US equities business

According to a source familiar with the matter, Deutsche Bank is planning to substantially cut its American equities business and work only with corporate and prestigious clients.

Mon, 17 Jun 2019 18:34:08 GMT

Boeing refuses to change 737 MAX name

Boeing Co stated on Monday that it would not follow the US President Donald Trump's advice to rebrand the 737 MAX model, arguing that it wanted to re-earn the public's trust.

Mon, 17 Jun 2019 16:56:25 GMT

US businesses address Trump tariffs

Various US businesses ranging from small shops to multi-billion conglomerates have sent to the White House their comments on Trump tariffs in an effort to oppose the next round on imports from China.

Mon, 17 Jun 2019 15:43:55 GMT

KPMG receives $50 million fine

On Monday, the US Securities and Exchange Commission announced that KPMG has agreed to pay a $50 million fine for cheating on exams and altering previous audits.

Mon, 17 Jun 2019 14:50:49 GMT

Huawei reveals additional losses

On Monday, the CEO of Huawei Ren Zhengfei announced that the company expects an additional $30 billion loss from the US ban.

Mon, 17 Jun 2019 14:12:56 GMT

Chanel reaffirms its independence on rising profit

Chanel, the luxury fashion group, reported on Monday its annual profits and sales rose 19.9% and 16.4% respectively, reaffirming the company's independence after Karl Lagerfeld, the fashion house's star designer, had passed away a few months ago.

Mon, 17 Jun 2019 12:38:13 GMT

VW likely to place extra Traton shares after listing

Frank Witter, Volkswagen's Finance Chief, announced on Monday the German carmaker is likely to place more shares of its truck unit Traton after the initial public offering, where it sought to raise up to $2.1B.

Mon, 17 Jun 2019 11:20:18 GMT

Pfizer to acquire Array in $10.64B deal

On Monday, Pfizer Inc announced it would take over Array Biopharma in a deal valued $10.64B, granting the global biopharmaceutical company access to Array's cancer drugs.

Mon, 17 Jun 2019 10:14:36 GMT

Bundesbank expects economic decline

On Monday, the German Bundesbank announced that it is expecting a decline of the German economy in the second quarter of this year.

Mon, 17 Jun 2019 09:35:59 GMT

Airbus triggers long-range A321neo jet

Airbus has released the A321neo aircraft's long-range version during the Paris Airshow, which was held on Monday, seeking to snag new routes for carriers with smaller jets and outrace its competitor Boeing.

Mon, 17 Jun 2019 08:39:24 GMT

Lockheed has no concerns over Raytheon-UTC merger

On Monday, Greg Ulmer, the Lockheed Martin F-35 programme's manager, stated that he had no concerns the proposed Raytheon-United Technologies Corp merger deal could affect the F-35 programme.

Mon, 17 Jun 2019 07:27:15 GMT

Stanley Chen to lead Google's Greater China sales

On Monday, Alphabet's Google has named Stanley Chen as the Greater China operations and sales managing director and is set to be based in Shanghai.

Mon, 17 Jun 2019 05:55:53 GMT

Intel triggers project to aid Israeli tech firms

On Sunday, Intel Corp has rolled out a project to help Israeli tech start-ups develop their technologies in autonomous and artificial intelligence systems, planning to expand the scheme in other countries.

Mon, 17 Jun 2019 05:18:47 GMT

Huawei prepares for up to 60% drop in international shipments

Huawei Technologies is getting ready for a 40%-60% drop in its international smartphone shipments amid the ban put by Washington on the Chinese company, which halts the US suppliers from cooperation with it, citing security concerns.

Mon, 17 Jun 2019 04:39:48 GMT

Deutsche Bank to create €50B bad bank

Deustche Bank is set to overhaul the trading operations by establishing a "bad bank", where it would hold assets worth up to €50B, according to the Financial Times.

Mon, 17 Jun 2019 02:37:28 GMT

UK companies to cut investment markedly

The UK companies look likely to cut their investment the most since 2009 this year, as the crisis of Brexit drags on, weighing over the future economic growth prospects, the BCC survey revealed.

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