News

Wed, 05 Jun 2019 03:24:05 GMT

Samsung to cut production at China plant

Samsung Electronics stated that it decided to cut the production volume of mobile phones at plant in China's city of Huizhou amid the impact of rising competition in the country.

Tue, 04 Jun 2019 20:23:34 GMT

Uber: IRS probes its tax returns of. 2013-14

The Internal Revenue Service was auditing taxes of Uber Technologies for 2013 and 2014, while the ride-hailing firm expected unrecognised tax benefits to be diminished within the next year by at least $141M.

Tue, 04 Jun 2019 19:00:22 GMT

Ukraine CB to pause rate changes after IMF's loan delay

The Central Bank of Ukraine is likely to keep its key interest rate unchanged, after delay to the disbursement of the IMF's aid worth $1.3B, a monthly poll revealed.

Tue, 04 Jun 2019 18:13:12 GMT

Reckitt Benckiser to invest $200M in US, UK units

Reckitt Benckiser, the cleaning products maker, is set to invest an extra $200M in its US and UK units in 2019, including a $70M investment in a manufacturing facility In Michigan.

Tue, 04 Jun 2019 17:02:17 GMT

US manufacturing in struggle as shipments, orders fall

New orders for the US-made goods declined in April, while shipments dropped markedly, indicating lingering fall in manufacturing activity, which could undercut the broader economic growth.

Tue, 04 Jun 2019 16:13:08 GMT

British construction suffers amid Brexit uncertainties

The UK construction industry's PMI fell to the lowest level since March 2018, as customers delayed investment before Brexit uncertainty, while the sector lost jobs at the fastest pace since 2012.

Tue, 04 Jun 2019 15:24:53 GMT

EZ flash inflation at 1.2% last month

Euro zone's inflation rate fell to an annual pace of 1.2% in May, missing expectations for a 1.3% forecast, the EU's statistics agency showed on Tuesday.

Tue, 04 Jun 2019 14:32:17 GMT

MaxLinear pauses shipments to Huawei Technologies

On Tuesday, MaxLinear, the radio-frequency chip maker, announced it had suspended shipments to Huawei Technologies and the Chinese giant's affiliates, adding it had no predictions whether the shipments could be resumed.

Tue, 04 Jun 2019 13:38:35 GMT

L'Oreal to provide Amazon with make-up testing tech

ModiFace, L'Oreal virtual reality unit, is set to provide Amazon with its make-up testing technology, the French company announced on Tuesday, allowing their customers to try on beauty products online via smartphone photos or videos.

Tue, 04 Jun 2019 12:35:54 GMT

China's Huatai launches London-Shanghai stock connect

On Tuesday, the Chinese broker Huatai Securities has launched London-Shanghai Connect, announcing its plans to attract over $500M on the LSE.

Tue, 04 Jun 2019 11:34:56 GMT

CIAM set to strongly oppose Renault-FCA tie-up

CIAM, the activist hedge fund, is set to "strongly oppose" the planned merger between Fiat Chrysler and French carmaker Renault worth $35B, calling the deal "opportunistic".

Tue, 04 Jun 2019 10:32:08 GMT

Stock selloff spreads to Europe

On Tuesday, the prior stock sell off that began in the US spread to the European stock markets. The decline was caused by large tech stocks being sold due to an upcoming antitrust investigation in the US.

Tue, 04 Jun 2019 09:06:05 GMT

US plans 34 surveillance drones sale to allies

Trump's Administration will sell 34 surveillance drones to its four allies in the South China Sea region on the back of the Defence Secretary Patrick Shanahan's statement that Washington would no longer indulge the Chinese behaviour in Asia.

Tue, 04 Jun 2019 08:24:06 GMT

France's Kapten appoints new Chief Executive

France's ride-hailing app Kapten is set to appoint Sebastien Oebel as the firm's new Chief Executive Officer on the back of the co-founders stepping down from the company.

Tue, 04 Jun 2019 07:13:07 GMT

VW seeks dual listing of Traton's minority stake

Volkswagen is seeking dual listing of its minority stake in the trucks unit Traton on the Nasdaq Stockholm and Frankfurt stock exchanges, planning to complete the IPO before summer break.

Tue, 04 Jun 2019 06:38:36 GMT

PayPal invests $11.2M in Sweden's Tink

PayPal Holdings has a made a $11.2M investment into the Swedish financial tech start-up Tink, seeking to use its technology to allow their customers to link their bank accounts with their PayPal accounts.

Tue, 04 Jun 2019 04:40:07 GMT

US intends to probe tech giants

On Tuesday, it was announced that the US government is preparing to investigate the abuse of market power by tech giants like Amazon, Google, Facebook and Apple.

Tue, 04 Jun 2019 04:31:07 GMT

Dollar drops to low level

On Tuesday, the USD reached a new low level against its peer currencies. The move was attributed to rising expectations of a Federal Reserve rate cut.

Tue, 04 Jun 2019 02:28:35 GMT

South Korean GDP revised down in Q1

South Korea's economic growth declined more than initially expected in the March quarter, while core inflation weakened to near the lowest level in 20 years in May, data revealed, adding pressure for the Central Bank to cut interest rates.

Mon, 03 Jun 2019 20:03:59 GMT

Conte threatens to resign

Giuseppe Conte, the Italian Prime Minister, threatened to resign on Monday, telling his right-wing populists and anti-establishment lawmakers to end their feud.

Mon, 03 Jun 2019 19:06:13 GMT

FTC secures right to investigate Facebook

On Monday, the Wall Street Journal reported that the US Federal Trade Commission had won the right to investigate how Facebook's practices affect the company's digital competition.

Mon, 03 Jun 2019 18:34:57 GMT

Johnson vows UK will leave EU on Oct. 31

The British Prime Minister candidate Boris Johnson has vowed on Monday that Britain would leave the European Union on October 31 with an exit deal or without it, following Theresa May's failure to deliver the Brexit deal on schedule.

Mon, 03 Jun 2019 17:30:40 GMT

Alphabet's shares drop on potential DoJ antitrust inquiry

On Monday, Alphabet's shares tumbled 7% on reports about the US Justice Department potential investigation into Google for hampering competition, representing the Trump Administration's latest attack on the tech giant accusing it of suppressing the conservative voices online.

Mon, 03 Jun 2019 16:35:23 GMT

Nissan expresses optimism on FCA partnership

Nissan Motor has expressed its optimism over partnership with a combined Fiat Chrysler and Renault as long as the company can protect its technology ownership developed within 20 years of working with the French carmaker, Nissan's senior executive stated on Monday.

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