News

Note: This section contains information in English only.
Sat, 11 May 2019 20:30:44 GMT

HSBC profit lifts on Asian operations improvement

On Friday, HSBC Holdings reported its profit soared due to a major improvement in the group's Asian operations with banking major marking the company is on track to reach its goals.

Sat, 11 May 2019 19:34:36 GMT

China's Suzhou launches property tightening measures

China's Suzhou is planning to implement new property tightening measures in some city parts to restrict house buyers from selling property during three years, the country's government stated on Saturday.

Sat, 11 May 2019 19:28:56 GMT

BTG Pactual has no plans for EFG International stake sale

Banco BTG Pactual, the Brazilian investment bank, is not planning a sale of its Swiss lender EFG International stake, BTG's CFO João Dantas announced on Friday.

Sat, 11 May 2019 18:39:14 GMT

Britain's Labour pledges to increase youth minimum wage

The future Britain's Labour government would over double the youth minimum wage for employees under the 18-year age to £10 per hour, the party's leader announced on Saturday.

Sat, 11 May 2019 18:29:54 GMT

Thyssenkrupp agrees reorganising approach with labours

Thyssenkrupp agreed on the way forward with its about leaders, after the German industrial group announced fresh restructuring deal that could cause a loss of about 6K job positions.

Sat, 11 May 2019 17:37:18 GMT

Pentagon views long-term backing on US-Mexico border

On Saturday, Patrick Shanahan, the US acting Defence Secretary, made the second visit to the US-Mexico border as the Pentagon eyes a development of the long-term plan to back the immigration policies proposed by the President Donald Trump.

Sat, 11 May 2019 17:33:17 GMT

South Africa's Ramaphosa plans reforms after win

Cyril Ramaphosa, the South African President, pledged to push through the country's tough reforms after he had won the African National Congress elections last wee, despite a recent decline in his party's confidence.

Sat, 11 May 2019 16:38:25 GMT

US states file suit against Teva Pharmaceuticals

Teva Pharmaceuticals and other US drugmakers were accused by the several US states of organising a sweeping scheme to inflate prices on drugs, in some cases by over 1,000%, stifling competition for the generic drugs.

Sat, 11 May 2019 16:33:36 GMT

Bayer not to accept "unethical behaviour" amid Monsanto probe

On Saturday, Bayer stated it would not tolerate "unethical behaviour" after France had opened an inquiry into an alleged file assembled by Germany's Monsanto, the seed making unit, to influence lawmakers and journalists on their positions regarding pesticides.

Sat, 11 May 2019 15:33:05 GMT

Fresenius approaches potential suitors on blood transfusion unit

Fresenius entered talks with potential suitors over the blood transfusion business sale, hiring Goldman Sachs as the advisor to explore the possible deal, sources reported on Friday.

Sat, 11 May 2019 15:28:40 GMT

LVMH collaborates with Rihanna over new fashion brand

LVMH has collaborated with the Barbadian singer Rihanna to launch new fashion label Fenty after the singer's full name, Robyn Rihanna Fenty, in the French group's rare move to establish a brand from scratch, tapping into rising demand for tie-ups with celebrities in the luxury world.

Sat, 11 May 2019 14:38:58 GMT

Etihad Airways makes bid for India's Jet Airways

Middle East's Etihad Airways submitted an offer for India's Jet Airways stake, the State Bank of India division, overseeing the stricken airline's sale.

Sat, 11 May 2019 14:31:14 GMT

Wirecard views profit potential from Softbank alliance

Wirecard is expecting the five-year profit potential of the Japanese Softbank Group's alliance at between $235M-$307M, the German payments firm stated on Friday.

Sat, 11 May 2019 13:39:24 GMT

Inmarsat's shareholders support $3.4B takeover

On Friday, Inmarsat's shareholders voted to sell the UK satellite company to the private equity-led consortium in a deal worth $3.4B, after a recommendation from the firm's board on a deal.

Sat, 11 May 2019 13:35:46 GMT

Thyssenkrupp scraps split deal, focuses on elevators float

Germany's struggling company Thyssenkrupp is set to focus on its most successful business of lift elevators, following the regulatory opposition's rejection of its plans to split its steel division.

Sat, 11 May 2019 12:34:08 GMT

Sycamore bids for Chico's in $407.8M deal

Sycamore Partners made an unsolicited bid worth $407.8M for Chico's FAS, the women's apparel retailer, seeking to take the firm private, and sending Chico's shares up 8% to $3.99 on Friday, much above Sycamore's offer of $3.50 for a share.

Sat, 11 May 2019 12:26:38 GMT

China's BAIC aims at Daimler's 5% stake

China's BAIC Group seeks to acquire a 5% stake in Daimler amid its intention to secure the company's investment in Beijing Benz Automotive, the Chinese Mercedes-Benz manufacturing firm, according to Reuters sources.

Sat, 11 May 2019 10:41:33 GMT

US House could fine Trump's advisors

On Friday, a US House of Congress Democrat lawmaker suggested that US President's advisors are fined each day $25,000 for obstructing congressional investigations of Trump's administration.

Sat, 11 May 2019 10:41:26 GMT

US investor recovers money from crypto scam

On Friday, US investors Michael Terpin gained $75.8 million in a case against a 21 year old Nicholas Truglia, who was proven to be a part of a crypto currency fraud scheme. The case has set a precedent that allows to sue crypto fraud.

Sat, 11 May 2019 09:44:00 GMT

Chinese media comments on trade deal

On Saturday, Chinese state media announced that there are three main issues that need to be discussed in the US-China trade talks. However, the three announced points were not expressed clearly.

Sat, 11 May 2019 09:43:53 GMT

US judge questions SEC in Volkswagen case

On Friday, a Federal US Judge aggressively questioned the Securities and Exchange Commission on the filling of the civil suit against Volkswagen AG. Namely, the SEC took too long to file the case.

Sat, 11 May 2019 08:45:07 GMT

Livent Crop executives quit

On Friday, Livent announced that two of its senior executives are leaving the company to pursue other goals. The announcement has been made just two days after the lithium producer cuts its 2019 forecasts.

Sat, 11 May 2019 08:44:28 GMT

Facebook rejects split offer

This week, Facebook rejected the proposition from one of its co-founders Chris Hughes that the company should be split into three separate companies. The split was designed as an idea to avoid US regulator investigation.

Sat, 11 May 2019 08:21:05 GMT

OxyContin family divides

The Sackler family, which is being blamed for the US opioid epidemic, namely the sale of OxyContin painkillers, reportedly has split into two factions due. The family has split due to the constant lawsuits.

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