News

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Wed, 13 Mar 2019 05:02:28 GMT

Crude oil prices edge higher on Wednesday

On Wednesday, crude oil prices edged higher. The surged was attributed to OPEC supply cuts and the US sanctions against Venezuela and Iran.

Wed, 13 Mar 2019 05:00:54 GMT

Culvahouse says China is using payday loan diplomacy in Asia-Pacific

The US Ambassador to Australia Arthur Culvahouse said on Wednesday that China is using payday loan diplomacy to exercise its influence in the Asia-Pacific.

Wed, 13 Mar 2019 04:09:55 GMT

UK to meet Google, Facebook competition with new regulations

The UK would need to overhaul competition rules to tackle the tech giants', such as Google, Facebook and Amazon, dominance and increase consumers' choice, a government review showed.

Wed, 13 Mar 2019 04:02:56 GMT

German chemical industry growth weakens in Q4 2018

Chemical production in Germany dropped 10% and ended in the "very weak" Q4, the country's chemical industry association announced.

Wed, 13 Mar 2019 03:33:57 GMT

Honda recalls more than 83K cars in Canada

Honda was recalling more than 83K vehicles in Canada amid possible explosion risks of Takata air bag inflators, the CTV stated.

Wed, 13 Mar 2019 03:25:16 GMT

Japanese machinery orders decline last month

Japan's machinery orders dropped in January at the strongest pace in the four-month period, as the US-China tariff war affected global trade, with falling demand from the country's manufacturing sectorss.

Tue, 12 Mar 2019 21:22:56 GMT

Shell seeks methane leak rules tightening

On Tuesday, Royal Dutch Shell called on the Trump Administration to severe the rules on greenhouse gas emissions that result from gas and oil production, instead of the initial plan to weaken them, drawing more attention to climate problems.

Tue, 12 Mar 2019 21:13:55 GMT

Wirecard dismisses accounting manager until probe ends

Wirecard has suspended its accounting manager in Singapore until the end of an inquiry launched on the back of creative accounting and fraud allegations, the company's CEO Markus Braun stated on Tuesday.

Tue, 12 Mar 2019 20:33:09 GMT

Citigroup accelerates 2019 expense cuts

Citigroup has accelerated its plans for this year to trim expenses via "simplification" of the organisation and its internal processes improvements, the company's CFO Mark Mason stated at investor conference on Tuesday.

Tue, 12 Mar 2019 20:28:38 GMT

BioNtech picks banks for $800M IPO

The EU largest biotech company by staff numbers BioNtech hired JPMorgan and Bank of America for its initial public offering worth up to $800M scheduled for this year, according to sources familiar with the matter.

Tue, 12 Mar 2019 19:29:06 GMT

Foxconn rejects paying royalties to Microsoft

On Tuesday, Taiwan's Foxconn rejected the patent infringement lawsuit brought by Microsoft last week, denying it should pay royalties being a contract manufacturer for the US company's software.

Tue, 12 Mar 2019 19:25:10 GMT

Uber to pay $20M in drivers settlement

Uber Technologies is set to pay $20M in a settlement after its drivers brought a legal lawsuit about six years ago, resolving a battle with the ride-hailing firm's employees just before the initial public offering scheduled for this year.

Tue, 12 Mar 2019 17:53:03 GMT

Sprint, T-Mobile heads back merger deal again

Sprint and T-Mobile US Chief Executives head back to the US Capitol Hill again on Tuesday, to defend their potential $26B deal, as both companies are seeking for a merge.

Tue, 12 Mar 2019 17:42:47 GMT

Verdi union objects to German lenders merger

On Tuesday, the German Verdi labour union opposed strongly to a potential merger deal between Commerzbank and Deutsche Bank, claiming that the newly formed group could become an attractive target for any foreign hostile takeover.

Tue, 12 Mar 2019 17:12:15 GMT

Verizon renews text service after outage

Verizon Communications reported on Tuesday it managed to fix the issue, which triggered a widespread outage affecting its text services for some clients at the US East Coast this morning.

Tue, 12 Mar 2019 17:08:36 GMT

Japan space agency, Toyota tie up for moon rover development

On Tuesday, the Japanese space agency and Toyota Motor stated they had agreed on a partnership to develop the manned lunar rover ran by fuel cell technologies.

Tue, 12 Mar 2019 16:35:20 GMT

Smith & Nephew to acquire Osiris Therapeutics

On Tuesday, Smith & Nephew, the UK medical products maker, announced it would acquire the US regenerative medicine developer, Osiris Therapeutics, in a deal valued at $660M, as it sought to boost the company's profit margins.

Tue, 12 Mar 2019 16:20:10 GMT

E.ON plans supervisory board expansion

E.ON is planning a temporarily supervisory board expansion to tap the estimated integration of its peer Innogy, whose retail and networks activities should pass to E.ON amid the breakup deal.

Tue, 12 Mar 2019 15:14:17 GMT

Luckin Coffee seeks $200M loan from banks

China's start-up Luckin Coffee chairman has tapped banks, such as Morgan Stanley and Goldman Sachs, for at least $200M loan in exchange for their role in the company's planned initial public offering.

Tue, 12 Mar 2019 14:55:11 GMT

VW CFO considers over Traton listing

Volkswagen's CFO Frank Witter stated the Traton truck division initial public offering was a good idea, but the current environment at the markets was quite challenging, adding VW would announce about its decision soon.

Tue, 12 Mar 2019 13:37:33 GMT

VW CEO has no plans for Waymo stake

Volkswagen CEO Herbert Diess stated on Tuesday the German carmaker had no plans for acquiring a minority stake in Waymo, Google's self-driving cars project, adding that discussions with Ford about developing autonomous vehicles continued.

Tue, 12 Mar 2019 13:33:24 GMT

Genesee & Wyoming considers stake sale

The freight railroads owner Genesee & Wyoming stated it had been exploring options, which include a minority stake sale, according to a Bloomberg report published on Monday.

Tue, 12 Mar 2019 11:50:44 GMT

Dexus takes rest of Sydney's MLC Centre stake

On Tuesday, Australia's Dexus, the real estate developer, announced it would take the remaining stake of Sydney MLC Centre together with an associated property firm in a deal worth A$800M.

Tue, 12 Mar 2019 11:46:02 GMT

Cloudflare attracts $150M in funding round

The US software start-up Cloudflare stated on Tuesday it attracted $150M in its latest round of funding, led by the global investment company Franklin Templeton.

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