News

Thu, 07 Mar 2019 16:23:51 GMT

John Lewis diminishes staff bonus before Brexit

Britain's John Lewis Partnership stated that it was ready for Brexit, after reporting a 45% decline in full-year profit and cutting staff bonus to the weakest level in more than 60 years.

Thu, 07 Mar 2019 15:34:35 GMT

SoftBank launches $5.0B fund into LatAm tech firms

Japan's SoftBank Group is planning to launch a $5.0B investment fund with the aim to invest in the technology firms in Latin America, extending its tech reach in the area.

Thu, 07 Mar 2019 15:30:21 GMT

ECB to name new banking regulator vice chair

The ECB is set to appoint a person to become the EZ new senior banking regulator in the following weeks, the President Mario Draghi stated on Thursday.

Thu, 07 Mar 2019 14:38:12 GMT

EU watchdog open inquiry into Innogy, E.ON deal

On Thursday, the European antitrust regulators launched an inquiry into the German utility E.ON's takeover of Innogy on the back of the asset swap with rival RWE.

Thu, 07 Mar 2019 13:39:24 GMT

Starboard takes 4% stake in Zayo

Starboard Value, the activist hedge fund, took a 4% of the Zayo Group Holdings stake, urging the US communications infrastructure provider for a sale.

Thu, 07 Mar 2019 13:37:07 GMT

Xerox reorganises business to build holding firm

On Thursday, Xerox Corp stated it would restructure its business on the back of the printer maker's intention to create a holding company, with reorganisation seen to be implemented this year.

Thu, 07 Mar 2019 12:39:33 GMT

Dialog Semi to acquire Silicon Motion

Dialog Semiconductor stated on Thursday it would acquire a mobile communications unit owned by Silicon Motion in a cash-deal worth $45M, expanding its footprint into Internet of Things.

Thu, 07 Mar 2019 12:36:53 GMT

Aon scraps takeover plan for Willis Towers

The insurer Aon abandoned plans for its rival Willis Tower Watson takeover, following an announcement about early stage-talks about an all-stock bid for the Irish insurance brokerage.

Thu, 07 Mar 2019 10:58:12 GMT

Bank of England is expected to cut interest rates

One of the Bank of England's policy makers Silvana Tenreyro revealed on Thursday that the Bank of England most likely will cut interest rates, if a no-deal Brexit occurs.

Thu, 07 Mar 2019 10:58:02 GMT

Euro declines prior to ECB

On Thursday, as the financial markets were waiting for the ECB rate announcement and subsequent press conference, the Euro was declining in value. The decline could be explained by expectations of an easing monetary policy announcement.

Thu, 07 Mar 2019 10:27:31 GMT

Spain's Grifols ties up with Shanghai RAAS

On Thursday, Spain's blood products firm Grifols announced it had formed a strategic alliance with the Chinese group Shanghai RAAS, seeking to boost its plasma-derived products sales in China.

Thu, 07 Mar 2019 10:23:28 GMT

Apollo Global to acquire Direct ChassisLink

Apollo Global Management, the buyout firm, agreed to buy the US biggest chassis leasing and rental company, Direct ChassisLink, in a deal worth $2.5B including debt.

Thu, 07 Mar 2019 09:29:56 GMT

Hugo Boss sees robust growth in Asia, online

Hugo Boss, the German fashion house, stated on Thursday its operating profit was likely to increase faster than its sales this year, estimating a strong growth in Asia and online business.

Thu, 07 Mar 2019 09:05:06 GMT

Brexit may be postponed if MPs reject deal

The UK Finance Minister Philip Hammond stated on Thursday that Britain was likely to delay its withdrawal from the EU bloc, if MPs rejected the Prime Minister Theresa May's proposed deal in the next week's vote.

Thu, 07 Mar 2019 07:54:04 GMT

National Grid to acquire US solar energy developer

On Thursday, National Grid, the electricity & gas utility firm, said it had agreed to acquire Geronimo Energy, the US solar and wind energy developer, in a deal valued no less than at $100M.

Thu, 07 Mar 2019 07:50:38 GMT

Giant-backed healthcare JV to be called Haven

JPMorgan Chase & Co, Berkshire Hathaway and Amazon.com announced their healthcare joint venture had been given a name Haven, the company that would focus on simpler insurance benefits, better access to primary care and affordable prescription drugs necessary for their employees.

Thu, 07 Mar 2019 07:39:18 GMT

GE considers to sell stake in JV Enel

General Electric is considering to sell its 50% stake in the renewable energy JV with Italy's Enel, which would potentially help the company's CEO Lawrence Culp to pay down a debt.

Thu, 07 Mar 2019 07:36:09 GMT

NBA plans content offer via Alibaba platforms

The National Basketball Association is set to offer its Chinese fans the original programming and easy way to purchase league gear via the e-commerce giant Alibaba, it announced on Wednesday.

Thu, 07 Mar 2019 04:51:52 GMT

China's exports likely falling markedly in Feruary

China's exports likely contracted by most in two years in February, while imports declined for a third month in succession, a Reuters poll revealed, heightening anxiety on whether Beijing and Washington can resolve differences over trade.

Thu, 07 Mar 2019 04:51:44 GMT

Intesa sticks by business plan targets in spite of economic slowdown

Italy's largest retail bank Intesa Sanpaolo confirmed targets set in February 2017 under a business plan to 2021 in spite of the country's worsening economy, the CEO said.

Thu, 07 Mar 2019 04:21:42 GMT

Uber to extend operations in Germany this year

Ride-hailing firm Uber Technologies announced plans to expand into additional cities in Germany in 2019, the company's European Chief told a newspaper.

Thu, 07 Mar 2019 04:16:22 GMT

China to collect profits from country's financial institutions

China's Finance Minister stated that the government is set to collect higher profits from certain financial institutions owned by the state and centrally-owned firms, aiming to support fiscal revenue.

Thu, 07 Mar 2019 03:35:58 GMT

Amazon to close pop-up stores in US, focus on book stores

Amazon.com is expected close all of pop-up stores in the United States and focus on opening book stores, the company's spokesperson stated.

Thu, 07 Mar 2019 03:32:19 GMT

Hyundai to suspend production at China's plant

Hyundai Motor was considering a plan to suspend production at the oldest plant in China, the carmaker stated, as the company reels from falling sales and massive overcapacity in the biggest market.

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