News

Wed, 09 Oct 2019 11:43:36 GMT

Alibaba to halt e-cigarette components sales in US

On Wednesday, Alibaba, the Chinese e-commerce giant, announced it would stop its e-cigarette components sales in the United States due to regulatory scrutiny and lung disease and deaths reports related to vaping.

Wed, 09 Oct 2019 10:55:36 GMT

Hong Kong bourse scraps $39B approach for LSE

Hong Kong's bourse scrapped its unsolicited $39B approach for the London Stock Exchange Group, as it failed to convince the LSE investors and management to support a deal that could have potentially transformed both international financial services titans.

Wed, 09 Oct 2019 10:11:22 GMT

German insulation maker Armacell set up for sale

Kirkbi, the Danish family investor, and the buyout group Blackstone are planning to sell Armacell, the German insulation foam producer, in a possible $1.43-$1.65B deal, with Rothschild being selected to handle the sale.

Wed, 09 Oct 2019 09:32:59 GMT

Telecom Italia explores data centre business spin-off

Telecom Italia, the Italian phone group, is exploring a potential spin-off and initial public offering of its data centre business that could possibly take place next year, Bloomberg announced late on Tuesday.

Wed, 09 Oct 2019 07:51:35 GMT

Arm Holdings sees potential to return to public markets

The SoftBank-backed semiconductor technology company Arm Holdings is still aiming for a 2023 return to public markets, the firm's CEO Simon Segars announced late on Tuesday.

Wed, 09 Oct 2019 07:15:49 GMT

Finland's Fortum to acquire control over Uniper

The Finnish utility Fortum aims to gain control over Germany's Uniper by purchasing the activist funds Elliott's stakes in a potential deal worth $2.5B.

Wed, 09 Oct 2019 06:39:50 GMT

Philippines AirAsia postpones IPO to 2020-2021

AirAsia Bhd's Philippines unit has delayed its planned initial public offering to 2020 or 2021, the company's chairman announced on Wednesday, as it shifts focus to a corporate reorganisation.

Wed, 09 Oct 2019 05:01:44 GMT

Trump continues to defend US relationship with Turkey

On Tuesday, President Donald Trump continued to defend the US diplomatic and economic ties with Turkey amid a bipartisan criticism over his decision to pull the US troops out of northern Syria.

Wed, 09 Oct 2019 03:59:43 GMT

Oil prices decline on Wednesday

On Wednesday, crude oil prices edged lower for the third consecutive trading session, as hopes for progress in the US-China trade talks dimmed. Brent crude futures fell by 0.5% by 01:48 GMT.

Wed, 09 Oct 2019 03:02:58 GMT

Airbus targets record Q4 deliveries

Shares of Airbus rose by 2.6% on Tuesday, as traders and investors bet the European planemaker would repeat a previous pattern of successfully ramping up deliveries in the final quarter of 2019.

Wed, 09 Oct 2019 02:21:10 GMT

EU accuses UK of playing blame game over Brexit

On Tuesday, the European Council President Donald Tusk accused the UK Prime Minister Boris Johnson of playing Brexit blame game after a Number 10 source said that a deal was overwhelmingly unlikely.

Tue, 08 Oct 2019 20:10:27 GMT

H&M's Afound to focus on online growth

The newest independent business of the fashion retailer H&M, outlet brand Afound, is set to focus more on its online expansion and less on increasing physical stores than previously planned.

Tue, 08 Oct 2019 19:02:33 GMT

GM's strike impacts 150K industry workers

The lingering strike at General Motors is expected to have hit 150K workers in the auto industry and result in $660M profit hit, the report from AEG revealed on Tuesday.

Tue, 08 Oct 2019 18:05:12 GMT

Deutsche Bank: no plans for extra job cuts

Deutsche Bank announced that there were no plans for more job cuts beyond the 18K positions the Bank had previously announced.

Tue, 08 Oct 2019 16:55:59 GMT

UK productivity falls markedly

Productivity in Britain in the UK by fastest in yearly terms, falling 0.5% during the second quarter, the biggest drop since 2014, the ONS stated.

Tue, 08 Oct 2019 15:51:17 GMT

Domino's shifts outlook on weaker sales

Domino's Pizza missed Wall Street forecasts for profit and same-store sales in the quarter, affected by higher competition from other delivery services, sending shares down 6%.

Tue, 08 Oct 2019 15:23:46 GMT

Netflix partners with Mediaset

Netflix signed a deal with Mediaset, the Italian top commercial broadcaster, to produce films within the country, both companies stated on Tuesday, in efforts to increase viewers due to tough competition.

Tue, 08 Oct 2019 13:57:00 GMT

HK Exchange cancels offer to buy LSE

The Hong Kong Exchanges and Clearing stated on Tuesday that it has recalled its $39 billion offer to buy the London Stock Exchange Group.

Tue, 08 Oct 2019 12:47:55 GMT

Japan tightens ownership reporting

On Tuesday, it was announced by Japanese officials that the government is tightening requirements for reporting foreign investment.

Tue, 08 Oct 2019 12:22:07 GMT

Merkel talks with Boris Johnson

On Tuesday, a Reuter's source revealed that the Chancellor of Germany Angela Merkel has told the PM of the United Kingdom Boris Johnson that a Brexit deal is overwhelmingly unlikely.

Tue, 08 Oct 2019 10:56:27 GMT

Stock surge pauses

On Tuesday, global stocks paused their surge, as lower than expected earnings were reported by various companies in Europe.

Tue, 08 Oct 2019 10:28:37 GMT

Oil climbs on Tuesday

During the early trading of Tuesday, crude oil price benchmarks surged, as tensions in Iraq and Ecuador put at risk oil supply from these countries.

Tue, 08 Oct 2019 09:00:28 GMT

French luxury group Kering cuts Puma stake

Kering, the French luxury group, has taken steps to cut its stake in Puma by issuing about $550 million bonds, which is due in 2022.

Tue, 08 Oct 2019 08:04:24 GMT

Prospects for progress in US-China trade talks dim

On Tuesday, hopes for a trade deal between the United States and China diminished after the US blacklisted China's firms over the Chinese treatment of the Muslim ethnic group.

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