News

Tue, 09 Jul 2019 11:05:43 GMT

Japan, South Korea accelerate trade dispute

On Tuesday, South Korea and Japan have severed their tensions in a diplomatic trade dispute, which threatens to disrupt the smartphones and chips global supply, as Seoul denounced Japan's media reports accusing South Korea of transferring the key chemical to its North neighbour.

Tue, 09 Jul 2019 09:54:16 GMT

Deutsche Bank shares decline

On Tuesday, the stock price of Deutsche Bank declined, as global markets were skeptical about the announced reforms at the bank.

Tue, 09 Jul 2019 09:25:20 GMT

ABB to hand over its solar converter business

ABB is set to pay about $470M to ditch its loss-making solar converter business to the Italian company FIMER SpA, marking the severe conditions in the solar industry.

Tue, 09 Jul 2019 08:14:48 GMT

Branson's Virgin Galactic prepares to launch IPO

The space-tourism venture Virgin Galactic owned by Richard Branson is planning to launch an initial public offering amid a signed deal with a SPAC created by Social Capital's CEO Chamath Palihapitiya, sources reported on Tuesday.

Tue, 09 Jul 2019 07:01:20 GMT

Nexon founder abandons $16B worth gaming deal

Jungju Kim, the founder of Nexon, has scrapped the plans for a controlling stake sale in its NXC parent, a deal that could have been the largest in the gaming sector as it was potentially valued at $16B.

Tue, 09 Jul 2019 06:33:34 GMT

Nintendo to move part of Switch console output to Vietnam

Nintendo is planning to move part of the Switch gaming console production out of China to Vietnam amid the company's intention to diversify the manufacturing sites, Japan's video game maker's spokeswoman stated on Tuesday.

Tue, 09 Jul 2019 04:41:40 GMT

Crude oil drops on Tuesday

During the early hours of Tuesday's trading session, crude oil prices declined. The move had no clear fundamental cause.

Tue, 09 Jul 2019 04:31:03 GMT

Asian stocks fall

On Tuesday, during the Asian session stock indices in Asia declined to a two week low level. The decline was caused by various reasons from monetary policy to a drop in Apple stock price.

Mon, 08 Jul 2019 21:16:54 GMT

Mitsotakis becomes Greek PM

The conservative politician Kyriakos Mitsotakis became Greece's new prime minister after a pledge to decrease unemployment and attract investment to the country.

Mon, 08 Jul 2019 18:57:39 GMT

Deutsche Bank fires 18,000 employees

Deutsche Bank has announced a decision to cut 18,000 employees in a 7.4B euro restructuring plan, Germany's largest lender reports.

Mon, 08 Jul 2019 18:03:05 GMT

Roche, Spark postpone takeover deadline

Roche and Spark Therapeutics have agreed to postpone a deadline of a $4.3B takeover bid as both companies remain "fully committed" to a merger agreement.

Mon, 08 Jul 2019 17:20:02 GMT

African countries launch free economic zone

African countries have agreed on a free economic zone to unite 1.3B people and create a $3.4T economic bloc during the African Union summit in Niamey, Niger.

Mon, 08 Jul 2019 15:54:42 GMT

Czaputowicz says Poland is open to Chinese investments

Jacek Czaputowicz, Poland's Foreign Minister, said on Monday that the country is open to the Chinese investments, especially in the manufacturing and innovative sectors and Greenfields.

Mon, 08 Jul 2019 15:04:44 GMT

Zarif calls on UK to release impounded oil tanker

On Monday, Mohammad Javad Zarif, the Iranian Foreign Minister, called on the UK to immediately release the capture of Iran's oil tanker in Gibraltar.

Mon, 08 Jul 2019 13:40:17 GMT

Chinese lending reaches high level

On Monday, a Reuters poll results revealed that new bank lending has reached a five month high level in China. It has occurred due to the government stimulating lending in the country.

Mon, 08 Jul 2019 12:46:53 GMT

Euro Zone investor morale falls

Data published on Monday revealed that investor morale in the Euro Zone has continued to decline in July. Moreover, a recession is being expected in Germany.

Mon, 08 Jul 2019 11:41:26 GMT

Deutsche Bank begins job cutting

On Monday, Deutsche Bank began cutting 18,000 jobs, which is part of a reinvention of the German largest bank.

Mon, 08 Jul 2019 10:53:28 GMT

Oil prices surge on Monday

Crude oil prices edged higher on Monday, buoyed by rising tensions between the US and Iran. The international benchmark for oil prices was up $0.34, while the US WTI was up $57.69 per barrel.

Mon, 08 Jul 2019 10:01:59 GMT

Ireland to step up plans for disorderly Brexit

Simon Coveney, Ireland's Foreign Minister, said on Monday that the country would increase its plans for significant risk of no Brexit deal this week.

Mon, 08 Jul 2019 07:00:31 GMT

Equinor plans 16% shares sale in Lundin Petroleum

On Sunday, Equinor, the Norwegian gas and oil firm, announced it was planning a 16% stake sale it held in Lundin Petroleum in a deal worth $1.56B, seeking to acquire 2.6% shares of the Johan Sverdrup oilfield in return.

Mon, 08 Jul 2019 06:07:00 GMT

WeWork seeks to attract up to $4B in debt before IPO

WeWork, the shared office space company, is planning to raise up to $4.0B in debt ahead of its initial public offering, seeking to fuel confidence of the investors in the company, sources reported on Sunday.

Mon, 08 Jul 2019 05:04:29 GMT

British firms trim investment plans amid Brexit

The UK companies are cutting their investment and hiring plans as the Brexit worries hit new high since the referendum decision in 2016, according to a Deloitte survey that showed 83% of chief financial officers believing the EU leave would hurt UK's long-term business environment.

Mon, 08 Jul 2019 04:39:20 GMT

China's forex reserves in June jump amid trade truce

The June foreign exchange reserves of China surged more-than-expected due to rising hopes for the trade truce between the Asian country and the US helped ease the downward pressure on the currency of Yuan.

Sun, 07 Jul 2019 20:15:27 GMT

Chinese heavy truck sales keep falling in June

Heavy truck sales in China recorded the biggest decline of this year to 100K units sold in June, down 11% from the prior year, according to the report.

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