News

Tue, 29 Jan 2019 04:23:38 GMT

Australian businesses end 2018 in downturn

The index of business conditions in Australia weakened markedly in December as profits, employment and sales took a turn for the worse, a disappointing year end that only added to concerns for 2019.

Tue, 29 Jan 2019 02:54:36 GMT

AT&T to cut positions in weaker units

AT&T is set to cut some jobs in the company's declining segments, while hiring more staff in faster-growing areas of the business, an AT&T spokesman stated.

Tue, 29 Jan 2019 02:51:53 GMT

Whirlpool: strong Dollar, costs to hit profit this year

The US maker of home appliances Whirlpool Corp stated that the company's 2019 adjusted revenue and profit are set to increase less than expected amid higher costs, tax bill and a strong dollar.

Mon, 28 Jan 2019 21:33:06 GMT

Jet Airways seeks receiving approval for debt-equity swap

On Monday, Jet Airways stated it would seek shareholders to grant it an approval next month to swap the existing debt to equity, in a move that could potentially resolve the Indian airline's financial issues.

Mon, 28 Jan 2019 21:26:42 GMT

Boeing gets closer to $3.5B 737 MAX jet deal

Boeing Co is nearing a $3.5B worth deal to sell its 737 MAX jets to Japan's ANA Holdings, two sources with a knowledge of the matter reported on Monday.

Mon, 28 Jan 2019 20:39:44 GMT

Brazil's Vale shares drop after dam collapse

On Monday, shares in the Brazilian miner Vale plunged as much as 21.5%, losing about $16.4B in its market value, following a collapse of a tailing dam on Friday, which claimed lives of 60 people.

Mon, 28 Jan 2019 20:33:52 GMT

Tesla seen to forecast Q1 loss after Musk's warning

Tesla is expected to forecast the first-quarter loss in its results report, which should be published on Wednesday, after the carmaker's CEO Elon Musk warned about difficulties seen ahead.

Mon, 28 Jan 2019 19:08:18 GMT

ADCB's CEO, Chairman to take top positions in new bank

The CEO and Chairman of Abu Dhabi Commercial Bank, Ala'a Eraiqat and Eissa Mohamed al Suwaidi, are set to fill in the top positions in the renewed Abu Dhabi bank after its merger with Al Hilal Bank and Union National Bank .

Mon, 28 Jan 2019 18:58:53 GMT

Bridgepoint to buy Arison's Miya water firm for $260M

Israel's Arison Investments is selling its water technology company Miya to the private equity firm Bridgepoint in a deal worth $260M, Arison announced on Monday.

Mon, 28 Jan 2019 18:19:32 GMT

PG&E shares soar amid investor group offer

Shares in PG&E, the power producer, surged as much as 15% on Monday on a Bloomberg report saying an investor group made a $4.0B worth alternative offer that could potentially avoid bankruptcy.

Mon, 28 Jan 2019 18:15:12 GMT

Unilever acquires The Laundress to bolster cleaning business

On Monday, Unilever stated it had acquired the New York-based line of cleaning and detergent products, The Laundress, in a move to expand its footprint in the high-end care products for home.

Mon, 28 Jan 2019 16:52:01 GMT

Nvidia cuts revenue forecasts for Q4

Nvidia cut the company's revenue estimate for the fourth quarter half a billion dollars due to weak demand for gaming chips in China and weaker-than-expected data centre sales, sending shares 15% down.

Mon, 28 Jan 2019 16:51:54 GMT

Caterpillar's Q4 profit misses estimate

Caterpillar reported quarterly profit, which widely missed estimates of the Wall Street, affected by softening demand in China and higher freight and manufacturing costs, sending shares 8% down.

Mon, 28 Jan 2019 16:09:48 GMT

Bulgaria to join EZ in 2022

Bulgaria was on track to join the Euro zone, Vladislav Goranov, the Finance Minister, stated, adding that and the Balkan country may adopt the Euro in January 2022.

Mon, 28 Jan 2019 16:04:44 GMT

Greece to increase minimum wage 11%

The Prime Minister of Greece Alexis Tsipras announced plans to raise the standard minimum wage nearly 11% percent, the first increase since the country's crisis erupted a decade ago.

Mon, 28 Jan 2019 15:00:20 GMT

Dropbox to acquire HelloSign in $230M deal

Dropbox, the data storage and sharing company, stated on Monday it would acquire the electronic signature firm HelloSign in an all-cash deal worth $230M, seeking to expand its workflow-related products portfolio.

Mon, 28 Jan 2019 14:56:11 GMT

Fortis to sell stake in UK Columbia hydro plant

On Monday, Canada's energy firm announced it would sell 51% stake in the British Columbia's hydroelectric plant Waneta Expansion to Columbia Basin Trust and Columbia Power for around C$1.0B.

Mon, 28 Jan 2019 14:32:16 GMT

Stock Spirits' key investor seeks chairman removal

On Monday, Stock Spirits' key shareholder has called for the company's Chairman removal, raising questions about the vodka maker's growth prospects.

Mon, 28 Jan 2019 14:27:39 GMT

Lufthansa in talks over Alitalia's majority stake

Germany's Lufthansa stated on Monday it had held talks over acquiring a controlling stake in the Italian carrier Alitalia, adding it would seek for the company's full takeover in the future.

Mon, 28 Jan 2019 13:38:15 GMT

Finland raises stakes in Konecranes and Nokia

On Monday, Finland's Soliudium investment arm stated it had increased its stakes in the country's crane maker Konecranes and the telecom equipment developer Nokia, to 7.4% and 3.7% respectively.

Mon, 28 Jan 2019 13:33:53 GMT

Flybe's key investor seeks chairman removal

Flybee Group's largest shareholder is calling for the firm's Chairman Simon Laffin removal, as well as an investigation launch over the cut-price sale to the consortium agreed earlier this month.

Mon, 28 Jan 2019 11:58:01 GMT

Medco gets extension for Ophir takeover

Medco, Indonesia's gas and oil group, has received an extension until January 31 for its Ophir Energy takeover bid to make the final proposal.

Mon, 28 Jan 2019 11:57:53 GMT

Entegris to acquire Versum Materials for $4.0B

On Monday, Entegris, the specialty chemicals maker, stated it would acquire its competitor Versum Materials in a deal valued at around $4.0B, which would serve the semi-conductor industry.

Mon, 28 Jan 2019 11:06:47 GMT

Canada union urges for GM Mexico-made cars boycott

The Canadian autoworkers union of General Motors called on the US and Canada consumers to stop purchasing the carmaker's vehicles made in Mexico.

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