News

Tue, 19 May 2020 10:00:41 GMT

Sony buys out subsidiary

On Tuesday, Sony announced that it would buy out Sony Financial Holdings for 400 billion yen.

Tue, 19 May 2020 09:38:47 GMT

Uber slashes 23% of its workforce

Uber Technologies has shifted its focus to its core ride-hailing and food delivery businesses, after cutting 23% of the company's workforce, seeking to become more profitable despite the crisis caused by the coronavirus pandemic.

Tue, 19 May 2020 07:46:53 GMT

Disney's Mayer to become TikTok's new CEO

Kevin Mayer, Walt Disney's top streaming executive, is set to leave the theme and entertainment parks giant, as he was appointed as TikTok's Chief Executive, both companies announced.

Tue, 19 May 2020 06:47:44 GMT

Tesla's China vehicle registrations drop 64% mom in April

Tesla's China car registrations plunged as much as 64% to 4,633 units month-on-month in April from March's 12,709 reading, according to the data revealed by LMC Automotive.

Tue, 19 May 2020 06:36:28 GMT

Nasdaq to toughen listing rules for Chinese IPOs

Nasdaq Inc is planning to unveil its new restrictions on IPOs, mainly for China, making it harder for Chinese firms to debut on the stock exchange, according to Reuters.

Tue, 19 May 2020 04:40:34 GMT

Thyssenkrupp seeks partners

Thyssenkrupp announced on Monday that it would seek partners for its warship and steel production divisions.

Tue, 19 May 2020 04:30:58 GMT

JC Penney closes down stores

On Monday, J.C. Peney announced that it would shut down almost 242 stores as a part of its bankruptcy.

Tue, 19 May 2020 02:51:11 GMT

Lagarde praises new EU fund

The President of the European Central Bank stated on Monday that she approves of the creation of a 500 billion Euro EU recovery fund.

Mon, 18 May 2020 20:44:12 GMT

Delta to restart few routes

On Monday, Delta Air Lines announced its plans to revive its flying operations at some major routes starting from June, after all of them were suspended amid the coronavirus pandemic.

Mon, 18 May 2020 20:43:52 GMT

France and Germany propose 500 billion fund

On Monday, France and Germany proposed the creation of a 500 billion Euro Recovery Fund, which would give grants to firms in the EU.

Mon, 18 May 2020 18:40:29 GMT

US car industry starts recovering after lockdown

The US auto industry is slowly recovering after the lockdowns caused by the COVID-19 outbreak with some of car assembly factories reopening and suppliers ready to back the sector that employs about 1M people.

Mon, 18 May 2020 17:42:19 GMT

IMF head says economic recovery unlikely next year

On Monday, the International Monetary Fund's chief stated it was unlikely for the global economy to recover in 2021 after the damaging effect the coronavirus outbreak had on the world.

Mon, 18 May 2020 16:47:01 GMT

Accor secures €560M credit line

France's hotel group Accor, the owner of Ibis and Sofitel, secured a new €560M banking credit facility, after being hit hard during the coronavirus crisis.

Mon, 18 May 2020 15:53:07 GMT

JDE Peet's to launch IPO this week

Coffee firm JDE Peet's is expected to announce its intention to launch IPO on the Euronext stock exchange in Amsterdam, aiming to raise up to €2B.

Mon, 18 May 2020 14:49:44 GMT

Total cancels plan to buy Oxy's Ghana assets

Total announced that it called off plans to buy Occidental Petroleum's assets in Ghana due to the extraordinary market environment.

Mon, 18 May 2020 14:07:20 GMT

Hertz Global names new CEO

On Monday, Hertz Global Holdings has named Paul Stone as the company's Chief Executive, following concerns raised by the US car rental firm related to its operations after a bigger Q1 loss.

Mon, 18 May 2020 13:19:28 GMT

Apple resumes services in 25 more US stores

Apple Inc is set to reopen over 25 of its US stores this week, continuing to resume its services and processes and will soon top 100 open stores worldwide.

Mon, 18 May 2020 12:39:04 GMT

Panasonic sees battery cells demand growth from Tesla

Panasonic Corp's Finance Chief stated the firm was expecting strong demand for its battery cells from the US partner Tesla, adding that they have entered talks over their Nevada joint plant expansion.

Mon, 18 May 2020 11:33:21 GMT

Alibaba's Jack Ma steps down from SoftBank's board

On Monday, SoftBank Group announced that Jack Ma, Alibaba's co-founder, is set to resign from the board, with SoftBank to propose new appointments, including group's CEO Yoshimoto Goto.

Mon, 18 May 2020 10:10:26 GMT

Huawei comments on US ban

On Monday, Huawei Technologies responded to US cutting the company off from supply chains by calling US actions arbitrary.

Mon, 18 May 2020 09:17:41 GMT

Norwegian Air shares decline by 50%

The Norwegian Airlines share price fell by 50% on Monday, as the company completed a discounted sale of 400 million new shares.

Mon, 18 May 2020 08:26:41 GMT

Total buys large customer portfolio from Portugal's EDP

On Monday, the French energy giant Total announced that it had purchased Portugal's EDP portfolio of 2.5 million business-to-customers base.

Mon, 18 May 2020 05:09:26 GMT

Britain's economy to bounce back slowly

Robert Chote, the Chairman of Britain's Office for Budget Responsibility, stated on Sunday that the UK economy would recover slowly from the COVID-19 pandemic shutdown.

Mon, 18 May 2020 03:57:55 GMT

US expects to revise PPP

According to the Wall Street Journal report, published on Sunday, the United States is likely to revise the Paycheck Protection Program to cope with the economic impact of the COVID-19 crisis.

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