News

Fri, 17 Aug 2018 07:36:07 GMT

Elon Musk has no plans to relinquish CEO, chairman roles

On Thursday, Tesla's Elon Musk stated he had no plans to relinquish the dual role as Chief Executive Officer and chairman of the electric carmaker.

Fri, 17 Aug 2018 06:33:27 GMT

Tesla takes Ontario govt to court over cancelled EV rebate

Tesla is suing the government of Ontario over the cancellation of its electric car incentive programme in Canada's province, according to the official legal documents.

Fri, 17 Aug 2018 06:30:36 GMT

Tamasek's China website seeks raising up to $300M

The Tamasek Holdings-backed China travel site is aiming to raise up to $300M in a new round of funding as it seeks to value the company at $2.0-$2.5B.

Fri, 17 Aug 2018 04:51:58 GMT

Papua New Guinea's gas project to supply LNG to BP

The Papua New Guinea gas projected operated by ExxonMobil signed a supply deal to provide the British oil firm BP's unit with around 450K tonnes of liquefied natural gas annually.

Fri, 17 Aug 2018 04:50:56 GMT

Uber plans boosting safety of cash transactions

The ride-hailing firm Uber Technologies is planning to open a new $64M Brazil centre to research a technology to boost safety for the company's drivers to accept cash.

Fri, 17 Aug 2018 04:33:39 GMT

DoorDash attracts $250M in latest funding round

DoorDash, the meal delivery service, has raised $250M in the latest funding round, co-led by DST Global and Coatue Management, valuing the firm at $4.0B.

Fri, 17 Aug 2018 04:30:48 GMT

Japan Mitsubishi to take 25% stake in Bangladesh's LNG terminal

On Friday, Japan Mitsubishi stated it would acquire a 25% stake of the Bangladesh Liquefied Natural Gas terminal and would develop the country's receiving terminal.

Fri, 17 Aug 2018 02:35:14 GMT

US welcomes Saudis' pledge of $100M for Syria

The US welcomed Saudi Arabia's $100M contribution to help stabilise parts of Syria no longer controlled by Islamic State, which comes after the Trump administration thought of cutting foreign aid.

Fri, 17 Aug 2018 02:31:29 GMT

China to introduce reforms to boost investments

Li Keqiang, the Chinese Premier, stated that the country is likely to roll out fresh incentives and step up reforms to remove obstacles to business and private investment, Xinhua reported.

Thu, 16 Aug 2018 19:53:24 GMT

Trudeau dismisses speculation over Canada's early election

On Thursday, Canada's Prime Minister Justin Trudeau has ruled out the early election to be held this fall, a year earlier than planned, adding the Liberal government stays focused on the NAFTA renegotiating.

Thu, 16 Aug 2018 19:53:13 GMT

Walmart's US sales growth hits record-high in decade

Walmart reported on Thursday its quarterly US sales growth hit its record-high of 40% in a decade, compared to a 33% rise in the preceding period, sending its shares up 10% to $99.08.

Thu, 16 Aug 2018 19:01:59 GMT

Tesla aims to make 8K Model 3 cars per week

According to the Evercore analysts' report published on Thursday, Tesla is on track to make 8K Model 3 vehicles per week, despite such a move will increase the carmaker's spending.

Thu, 16 Aug 2018 19:01:20 GMT

Kroger launches tests of autonomous grocery delivery in Arizona

On Thursday, the US supermarket operator Kroger has launched tests of its driverless grocery delivery with its tech partner Nuro at Fry's Food Store in Arizona.

Thu, 16 Aug 2018 17:59:01 GMT

China Evergrande to invest $240M to develop world's fastest supercomputer

China Evergrande Group, the property developer, stated on Thursday it would make an investment worth $239.53M into the six high-tech projects, including one designed to build the fastest supercomputer in the world.

Thu, 16 Aug 2018 17:57:50 GMT

Wendy's to sell its 12.3% stake in Inspire Brands

On Thursday, the burger chain Wendy's stated it would sell a 12.3% stake in Arby's owner Inspire Brands in a deal valued at $450M.

Thu, 16 Aug 2018 16:53:33 GMT

Bayer launches integration of Monsanto

Bayer announced on Thursday it could launch an integration of Monsanto into the German drugmaker's organisation, after successful completing the antitrust-related assets sale and fulfilling the US Department of Justice's final requirements.

Thu, 16 Aug 2018 16:52:48 GMT

Cevian may claim second board seat at Thyssenkrupp

Investor Cevian is likely to seek the second board seat at the German engineering company Thyssenkrupp, to focus on a new CEO and chairman search and help push for the restructuring measures.

Thu, 16 Aug 2018 16:09:46 GMT

JD.com seeks moving its warehousing assets to separate unit

On Thursday, the Chinese e-commerce giant JD.com claimed that it was planning to move its warehousing assets' management to the separate unit, hoping to revive profits after a loss in April-June.

Thu, 16 Aug 2018 15:52:39 GMT

Mexico and US to cooperate to fight drug cartels

The law enforcement authorities of Mexico and the US are planning to set up a team based in Chicago to target the finances and leaders of the Mexican drug cartels.

Thu, 16 Aug 2018 14:51:39 GMT

China bans offshore lending to support yuan

On Thursday, the Central Bank of China banned banks in its free trade zones from various lending activities to ease the pressure on the yuan in offshore markets.

Thu, 16 Aug 2018 14:51:30 GMT

HSBC increases rates for savers and borrowers in UK

On Thursday, Britain's HSBC decided to follow the decision of the Bank of England to raise interest rates, resulting in the increased rates for borrowers and savers.

Thu, 16 Aug 2018 14:31:53 GMT

Israel's Aeronautics rebuffs buyout deal from Stolero, Rafael

The Israeli drone maker Aeronautics has rebuffed a $117M worth takeover bid from the businessman Avihai Stolero and the state-owned company Rafael Advanced Defense Systems.

Thu, 16 Aug 2018 14:30:48 GMT

Alibaba's Babytree seeks up to $1.0B HK IPO

Alibaba-backed online parenting company Babytree is planning to attract up to $1.0B in an initial public offering in Hong Kong scheduled for this October.

Thu, 16 Aug 2018 10:24:46 GMT

Trump revokes Obama's CIA head's access

The US President Donald Trump on Wednesday had revoked the security clearance of the previous CIA Director of the Obama era John Brennan.

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