News

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Fri, 28 May 2021 07:00:07 GMT

GM resumes production at plants

General Motors is planning to resume its production at five plants across the world that were hit by the global semiconductor chips deficit.

Fri, 28 May 2021 06:00:21 GMT

Sberbank unit rolls out self-driving car

Russia's Sberbank unit SberAutoTech has unveiled its new self-driving car called "FLIP", describing the vehicle as "taxi of the future".

Fri, 28 May 2021 05:00:07 GMT

Salesforce lifts full-year profit, revenue outlook

Salesforce.com raised its annual revenue and profit outlook and reported its quarterly revenue exceeded analysts' expectations, driven by robust demand for the company's cloud-based software during the pandemic.

Fri, 28 May 2021 04:00:09 GMT

Dell tops revenue forecasts

Dell Technologies topped Wall Street expectations for its quarterly revenue on strong demand for the company's software products and notebooks during then pandemic-caused remote working environment.

Fri, 28 May 2021 03:00:09 GMT

Google to settle French antitrust case

Google is close to settle the French antitrust case over allegations the tech giant has abused the power in its online advertising, and is likely to face penalties, according to the Wall Street Journal.

Thu, 27 May 2021 22:17:02 GMT

FIGS gets $4.57B valuation in debut

On Thursday, FIGS Inc's shares soared almost 29% in the market debut, valuing the medical scrubs and face masks maker at $4.57B, indicating strong investor interest following a surge in demand during the pandemic.

Thu, 27 May 2021 20:29:13 GMT

Mexico economy contracts

The economy of Mexico contracted 3.6% in the first three months of 2021, compared to the same period in 2020, the National Institute of Statistics reports.

Thu, 27 May 2021 19:00:08 GMT

Global automakers set up China site to store data

On Thursday, Ford, Daimler and BMW announced that they have established a site in China to store car data locally.

Thu, 27 May 2021 18:00:06 GMT

US weekly unemployment claims hit 14-month low

As reported by the US Labor Department on Thursday, the number of Americans filing for new unemployment benefits declined by 38,000 to a seasonally adjusted 406,000 last week.

Thu, 27 May 2021 17:00:07 GMT

Dow, S&P 500 edge higher

Wall Street's main indexes edged higher on Thursday. At 9:43 a.m. ET, the Dow Jones Industrial Average was up by 259.35 points or 0.76%, while the S&P 500 inched higher by 14.50 points or 0.35%.

Thu, 27 May 2021 16:00:07 GMT

Hyundai to trim combustion engine line-up

Hyundai Motor Group will cut the combustion engine line-up, as part of its plan for further electric vehicle investment, the South Korean carmaker told Reuters.

Thu, 27 May 2021 15:00:07 GMT

Airbus raises jet production targets

On Thursday, Airbus has raised its jet output targets in a bet on the global aviation recovery, strengthening its position ahead of negotiations with suppliers over investment needed for aviation boost.

Thu, 27 May 2021 14:00:08 GMT

Boeing to pay $17M in penalties to FAA

Boeing is set to pay $17M in penalties in the Federal Aviation Administration settlement over its NG and 737 MAX jets, which had unapproved equipment installed.

Thu, 27 May 2021 13:01:50 GMT

HSBC withdraws US retail banking

On Thursday, HSBC announced it would exit from the loss-making US retail banking by selling its unprofitable business and shifting its focus to Asia, its largest market.

Thu, 27 May 2021 12:23:06 GMT

India's Paytm aims at $3B IPO

Paytm, the Indian fintech start-up, is targeting around 218B rupees ($3.0B) in its planned initial public offering late this year, according to a Bloomberg News report.

Thu, 27 May 2021 10:52:49 GMT

Foxconn plans stake buy in DNeX

Taiwanese company Foxconn Technology has entered talks to purchase a stake in Dagang NeXchange (DNeX),the Malaysian technology firm, after losing its bid for the DNeX-owned semiconductor maker, Bloomberg reports.

Thu, 27 May 2021 09:43:59 GMT

EasyJet founder's family gives away small stake

The UK airline easyJet founder's family has sold its small stake in the airline, cutting the Haji-Ioannou family's shares from 26.7% to 25.3%, according to a regulatory filing.

Thu, 27 May 2021 08:43:52 GMT

CBA introduces new app feature

On Thursday, Commonwealth Bank of Australia became the first lender among the country's "Big Four" to allow its customers to check other bank account balances via its app.

Thu, 27 May 2021 08:21:58 GMT

Lenovo's Q4 profit tops forecasts

On Thursday, China's Lenovo Group reported a 512% surge in its Q4 profit, beating expectations, on higher demand for the company's personal computers amid the pandemic.

Thu, 27 May 2021 06:41:06 GMT

Nvidia sees Q2 revenue above forecasts

Nvidia is expecting the current-quarter revenue to beat analysts' forecasts, betting on higher demand for the company's flagship artificial intelligence and gaming chips for data centres.

Thu, 27 May 2021 06:13:32 GMT

Abercrombie's Q1 sales surge

Abercrombie & Fitch reported a 61% surge in its Q1 sales, beating analysts' estimates, driven by the store openings as well as its boosted online business.

Thu, 27 May 2021 04:51:35 GMT

PayPal to allow withdrawals to crypto wallets

PayPal Holdings announced its plans to allow the platform's users to withdraw cryptocurrency to third party wallets.

Thu, 27 May 2021 04:28:29 GMT

ZipRecruiter gets $2.7B valuation

Online job marketplace ZipRecruiter was valued at $2.7B in its NYSE debut on Wednesday, as its shares grew more than 10% on investors' optimism about job growth.

Thu, 27 May 2021 03:28:02 GMT

Ford to spend $30B on EV development

Ford stated during an investor day that it will spend $30B on EV development, including battery development, by 2025.

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