News

Sat, 29 Feb 2020 03:48:05 GMT

Turkey lets Syrian refugees exit towards Europe

An official said on Friday that Turkey has opened its borders with Europe to allow Syrian refugees and other migrants to enter the European Union.

Sat, 29 Feb 2020 02:56:31 GMT

SoftBank's Ginsberg takes leave of absence

According to sources with knowledge of the matter, Softbank's Chief Communication Officer Gary Ginsberg has taken unpaid leave to help Michael Bloomberg's presidential campaign.

Fri, 28 Feb 2020 21:29:39 GMT

Cunliffe says rise of digital currency could affect bank lending

On Friday, Jon Cunliffe, the Deputy Governor of the Bank of England, warned that the rise of cryptocurrencies could affect the supply of credit to the real economy through the banking system.

Fri, 28 Feb 2020 20:02:17 GMT

Three ex-Barclays executives acquitted over 2008 Qatar fees

On Friday, a jury at London's Old Bailey criminal court acquitted three former Barclays bankers over the 2008 Qatar fees fraud case.

Fri, 28 Feb 2020 18:56:16 GMT

US crude oil production declined in December

According to the US Energy Information Administration monthly statement, the US crude oil production declined to 12.78M barrels a day in December.

Fri, 28 Feb 2020 17:45:39 GMT

Coty picks Jimmy Choo head as next CEO

On Friday, Coty Inc named Pierre Denis, the Jimmy Choo boss, as the company's next CEO, succeeding Pierre Laubies, Reuters reported on Friday.

Fri, 28 Feb 2020 16:43:06 GMT

Baidu sees Q1 revenue to fall amid coronavirus

China's Baidu, the largest search engine group, is expecting its Q1 revenue to plunge about 13% in comparison with the previous year due to the coronavirus outbreak that affects advertising an economic activity.

Fri, 28 Feb 2020 16:12:45 GMT

Hyundai's trucks to hit Swiss roads in March

Hyundai's hydrogen-powered trucks will hit the Swiss roads next month amid the South Korean carmaker's intention to set a precedent zero-emissions technology.

Fri, 28 Feb 2020 15:14:29 GMT

Elliott presses SoftBank over $10B investments

Elliott Management is putting pressure on SoftBank Group over details of nearly-$10B of the investment securities on the balance sheet, on the back of a campaign to boost the value of Japan's conglomerate.

Fri, 28 Feb 2020 13:47:52 GMT

Tokyo Disneyland to be closed till mid-March

Tokyo Disneyland is set to be shut down starting this Saturday until March 15 amid fears about the coronavirus outbreak in Japan, the theme park's operator informed on Friday, adding the move will have a negative impact on the Q2 results.

Fri, 28 Feb 2020 13:13:43 GMT

Hyundai Motor closes South Korea plant amid virus

On Friday, Hyundai Motor has halted its plant in South Korea after an employee was tested positive for coronavirus, disrupting the carmaker's popular models production, such as Palisade SUV.

Fri, 28 Feb 2020 11:42:14 GMT

Rolls-Royce posts $1.1B operating loss in 2019

Aerospace engineer Rolls-Royce reported on Friday a $1.1B operating loss in 2019 due to costs of tackling durability issues with the company's Trent 1000 engine that affected the record engine deliveries and good performance.

Fri, 28 Feb 2020 10:51:26 GMT

Stocks continue to decline

On Friday, global stock indices continued to decline, as stocks were expected to book the biggest decline since the 2008-2009 financial crisis.

Fri, 28 Feb 2020 10:11:17 GMT

JPMorgan bans global travel amid coronavirus

JPMorgan Chase is restricting all non-essential travel, as it seeks to protect its staff and business against the continued spread of coronavirus, according to a Bloomberg report.

Fri, 28 Feb 2020 08:46:40 GMT

LSE aims to finalise Refinitiv deal on time

On Friday, the London Stock Exchange Group stated it would close its $27B takeover of the analytics firm Refinitiv on time in 2020 after LSE posted higher-than-expected annual income, boosted by a rise in clearing activity.

Fri, 28 Feb 2020 07:45:03 GMT

Amazon bans 1M products for false virus claims

Amazon.com has barred over 1M products from sale that inaccurately claimed to defend or cure the coronavirus, the retail giant told Reuters.

Fri, 28 Feb 2020 06:50:29 GMT

Facebook to cancel developer conference

Facebook is eager to cancel the annual developer conference scheduled on May 5-6 in California's San Jose amid fears of the coronavirus outbreak, the company's director of platform partnership said.

Fri, 28 Feb 2020 05:41:17 GMT

Microsoft shares fall on hit to its supply chain

Shares in Microsoft Corp fell as much as 4% yesterday after the tech giant warned of slowdown in the PC business, as the coronavirus outbreak hit its supply chain, according to Reuters.

Fri, 28 Feb 2020 04:43:37 GMT

Nokia shares climb on possible deals report

Nokia Oyj's shares rose as much as 1.1% after Bloomberg reported that Finland's telecom network equipment producer was exploring potential mergers and asset sales.

Fri, 28 Feb 2020 03:56:55 GMT

Hudson's Bay gets approval to become private company

Hudson's Bay Co announced it received an approval from its shareholders to transform into a private company amid the C$2.0B deal proposed by its Chairman Richard Baker.

Fri, 28 Feb 2020 03:14:12 GMT

Thyssenkrupp agrees on elevator unit sale

Thyssenkrupp has agreed on a sale of its elevators unit to the Advent-led consortium Cinven and German RAG foundation in a deal valued at $18.7B, potentially the largest buyout in the world this year.

Thu, 27 Feb 2020 20:43:34 GMT

Cargill bans all non-essential travel for employees

Cargill's spokeswoman April Nelson said on Thursday that the company has banned international travel for its staffs due to the coronavirus epidemic.

Thu, 27 Feb 2020 19:52:10 GMT

DoorDash preps to go public

On Thursday DoorDash said in a statement that it has confidentially filed a draft S-1 form to the Securities and Exchange Commission to go public.

Thu, 27 Feb 2020 19:01:30 GMT

IMF likely to lower economic growth forecast

The International Monetary Fund could lower its global economic growth outlook due to the coronavirus outbreak. IMF's spokesman Gerry Rice stated on Thursday.

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