News

Tue, 06 Aug 2019 11:58:41 GMT

New Media to acquire Gannett in $1.4B deal

New Media Investment, the local media company, stated on Monday it would acquire US Gannett Co in a $1.4B deal, establishing the largest newspaper owner in the US amid publishers' struggles regarding readers' shift to online news sources.

Tue, 06 Aug 2019 11:24:40 GMT

Takeaway.com agrees merger terms with Just Eat

Amsterdam's Takeaway.com and its UK competitor Just Eat have agreed on their deal terms to establish a global food delivery firm that can outrace Uber Eats as the biggest outside China.

Tue, 06 Aug 2019 09:50:26 GMT

Cybereason attracts $200M from Japan's SoftBank

On Tuesday, the antivirus startup Cybereason announced it had raised $200M in investment from the Japanese SoftBank Group, doubling its total investments raised so far to around $400M.

Tue, 06 Aug 2019 09:08:47 GMT

Vivendi considers Universal Music Group's stake sale

Vivendi has entered talks over a 10% stake of Universal Music Group to China's tech group Tencent, seeking to expand its footprint in Asia.

Tue, 06 Aug 2019 08:36:00 GMT

Deutsche Post lifts 2019 forecast amid price hikes

On Tuesday, Deutsche Post DHL stated it had raised its 2019 forecast, expecting earnings improvement in the H2, following the restructuring measures and hikes in prices of the German parcels and postage.

Tue, 06 Aug 2019 07:24:56 GMT

US Barneys files for Chapter 11 bankruptcy

On Tuesday, Barneys New York, the US luxury chin of department stores, has filed for the Chapter 11 bankruptcy protection, putting itself up for a sale, as the company faced surging rents and failed in finding a buyer for itself.

Tue, 06 Aug 2019 06:38:58 GMT

Bezos offloads $2.8B worth of Amazon shares

Amazon.com's CEO Jeff Bezos sold shares worth $990M in the e-commerce giant on the last days of July, bringing the total value of the offloaded shares to $2.8B, according to the Securities and Exchange Commission filing.

Tue, 06 Aug 2019 04:45:27 GMT

North Korea is caught

On Monday, the UN announced that North Korea has took in at least two billion dollars in revenue through cyber attacks.

Tue, 06 Aug 2019 04:26:58 GMT

Markets drop on Monday

On Monday, the US markets lost value, as vows to create new tariffs of the US President Donald Trump hit the value of stocks.

Mon, 05 Aug 2019 20:00:34 GMT

Wesfarmers receives approval for $160M Catch Group buy

The Australian competition watchdog has granted its approval on Monday for Wesfarmers $160M acquisition of Catch Group, Australia's online retailer, marking the conglomerate's third takeover deal this year.

Mon, 05 Aug 2019 18:55:41 GMT

Bombardier-led consortium gets $4.5B Egypt monorail contract

On Monday, a Bombarider-led consortium has won a contract worth over $4.5B for building and operating two Egyptian monorail lines; a project considered as the largest in recent years.

Mon, 05 Aug 2019 17:41:07 GMT

IBM announces new blockchain network

On Monday, International Business Machines and other companies, including Nokia, GlaxoSmithKline, Cisco, Lenovo, Vodafone, AB InBev, etc., have launched a new blockchain network called "Trust Your Supplier" designed for improving cumbersome and manual supply chain management.

Mon, 05 Aug 2019 16:43:20 GMT

Didi Chuxing's self-driving unit launched as independent firm

On Monday, China's ride-hailing titan Didi Chuxing announced its autonomous driving division was launched as an independent firm that would focus on research, as well as seek to deepen collaboration with carmakers.

Mon, 05 Aug 2019 15:41:49 GMT

Tesco to trim 4.5K job positions in Metro restructuring

The British largest retailer Tesco announced it would trim about 4.5K jobs from the Metro stores amid another restructuring designed to reduce costs, repositioning the company to compete in a highly challenging environment.

Mon, 05 Aug 2019 15:22:53 GMT

Walmart's Flipkart to roll out free video service

Walmart's Indian division Flipkart is planning to launch free movies, videos streaming service that will be available to all the app's customers within this month, as the e-commerce firm seeks to raise its user base among small cities and towns.

Mon, 05 Aug 2019 14:24:23 GMT

Total plans 30% stake sale in Trapil pipeline network

Total, the French energy group, is planning a sale of 30% stake in the pipeline network Trapil to Pisto SAS, the oil storage operator, in a deal valued at $289M on the back of the broader asset sale programme.

Mon, 05 Aug 2019 13:25:45 GMT

HSBC ousts CEO Flint in abrupt reshuffle

HSBC ousted its Chief Executive Officer John Flint in a shock member shift, which was needed to accelerate the strategy, including its US business turnaround, the EU largest bank's chairman stated on Monday.

Mon, 05 Aug 2019 11:44:06 GMT

ReAssure to acquire Quilter's closed book business

Swiss Re's UK-based ReAssure division agreed to acquire Quilter's closed book business in a $515.19M worth deal that will add more than 200K customer policies and £12.0B of assets to the ReAssure platform.

Mon, 05 Aug 2019 11:01:35 GMT

Japanese cars sales in South Korea drop in July

On Monday, the South Korean industry data showed that sales of the Japanese car brands, such as Toyota Motor and Honda, dropped 32% and 34% respectively in July due to severing ties between two Asian countries.

Mon, 05 Aug 2019 09:39:19 GMT

Elliott calls on Scout24 to sell auto listings unit

The US activist hedge fund Elliott called on Germany's classifieds group Scout24 to sell its vehicle listings business and increase a share buyback programme to bolster investor returns.

Mon, 05 Aug 2019 08:38:59 GMT

Scotland seeks for independence vote

Scottish voters are seeking for an independence vote from the United Kingdom, the Michael Ashcroft poll showed on Monday, with 46% of citizens claiming they would vote in favour of separation from the UK, while 43% of people voted against such a move.

Mon, 05 Aug 2019 07:06:35 GMT

SoftBank's Q1 profit rises 4% on mobile users growth

On Monday, the Japanese telecommunication company SoftBank Corp stated its Q1 operating profit climbed 4% to $2.54B, pleasing analysts' estimates, as the mobile user numbers reached 372K, according to official data.

Mon, 05 Aug 2019 06:37:53 GMT

Murdoch's Fox to acquire Credible Labs for $397M

On Monday, the US broadcaster Fox Corp agreed to acquire fintech company Credible Labs in a deal that valued the online finance broker at $397M, as the Murdoch-owned group seeks for growth after its TV assets and film sale to Disney.

Mon, 05 Aug 2019 03:33:07 GMT

HSBC profit up 16% in first half

HSBC reported on Monday that its pretax profit rose 15.9% in the first half and announced future buyback of $1B, defying expectations that it could pause returning extra capital to investors.

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