News

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Fri, 06 Nov 2020 19:51:32 GMT

Uber views slowest recovery of US ride business

Uber Technologies is expecting the slowest recovery of the ride business in its local US market, even as its food-delivery service demand exploded in the Q3.

Fri, 06 Nov 2020 18:55:07 GMT

Pony.ai attracts $267M in latest funding round

On Friday, Toyota Motor-backed start-up Pony.ai stated it had raised $267M in its latest round of funding, valuing the self-driving company at $5.3B, as it aims to expand its footprint in China and the United States.

Fri, 06 Nov 2020 17:41:11 GMT

GM to bolster EV spending

General Motors CEO Mary Barra announced plans to boost capital spending during the following three years, seeking to accelerate the development of electric cars, funded by expanded manufacturing of the high-profit pickup trucks.

Fri, 06 Nov 2020 16:41:38 GMT

Canada adds over 83K jobs last month

Canada added 83,600 new jobs in October, missing analysts' forecasts, while the unemployment rate declined to 8.9%, according to the Statistics Canada data released on Friday.

Fri, 06 Nov 2020 15:42:58 GMT

Lufthansa likely to seek more money in 2021

Germany's government considers that Lufthansa could seek more money in 2021, according to Der Spiegel magazine's report published on Friday, while the government dismissed it as "speculation".

Fri, 06 Nov 2020 15:16:36 GMT

US jobless rate slides in October

The unemployment rate in October dropped to 6.9% from the 7.9% reading the previous month, while non-farm payrolls increased by 638K after surging by 672K in September.

Fri, 06 Nov 2020 14:14:58 GMT

France hopes for Biden win

France said it was expecting smoother trade ties with the US in case of the Democrat Joe Biden's triumph, with more multilateral cooperation and better alignment over sustainable development.

Fri, 06 Nov 2020 13:30:45 GMT

Ant's IPO halt seen to safeguard interests

China's Central Bank stated on Friday that the decision on Ant Group's planned IPO suspension had been well considered to safeguard the financial consumer and investor interests.

Fri, 06 Nov 2020 12:30:52 GMT

ViacomCBS tops Q3 revenue forecasts

On Friday, ViacomCBS reported it had beat analysts' expectations for its Q3 revenue on higher demand for the Showtime and CBS All Access streaming services, which partially offset the ad sales decline.

Fri, 06 Nov 2020 11:09:20 GMT

BoJ comments on global currencies

On Friday, the Board Member of the Bank of Japan Makoto Sakurai stated that coordination between the global central banks has kept the Forex market stable.

Fri, 06 Nov 2020 10:04:54 GMT

Stocks mixed amid US election outcome uncertainty

On Friday, global stocks changed a little but were still near their record high while US bond yields and US dollar stayed sluggish due to uncertainty of the Presidential Election's outcome.

Fri, 06 Nov 2020 08:41:29 GMT

UK launches bribery probe into Bombardier

The British Serious Fraud Office launched an investigation into Bombardier, the Canadian industrial group, over alleged bribery in jet sales to Garuda Indonesia, Reuters reported.

Fri, 06 Nov 2020 07:43:15 GMT

Allianz reports 6% surge in Q3 net profit

On Friday, the German insurer Allianz reported an unexpected 6% surge in its Q3 net profit compared to the prior year, despite pandemic pressure on business.

Fri, 06 Nov 2020 06:44:50 GMT

Apple faces lawsuit

On Thursday, Apple was ordered to face a lawsuit against its shareholders due to concealing a decline in demand for iPhones in China.

Fri, 06 Nov 2020 06:44:42 GMT

Crude oil prices decline

Crude oil price benchmarks declined on Thursday due to the markets expecting a fall in demand that would be caused by the coronavirus.

Fri, 06 Nov 2020 06:44:34 GMT

US assets surge in value

During Thursday's US trading hours, stock prices surged, as a broad sell off of the US Dollar occurred.

Thu, 05 Nov 2020 21:43:23 GMT

European stocks reach high level

European stock indices ended Thursday's trading with a surge, which was attributed to better than expected earnings reports.

Thu, 05 Nov 2020 21:03:53 GMT

US sues Visa to block Plaid purchase

The US government filed a lawsuit seeking to block Visa from purchasing the financial technology company Plaid.

Thu, 05 Nov 2020 20:09:11 GMT

IBM unveils cloud platform for 5G telcos

International Business Machines launched a cloud platform aimed at telecom operators deploying 5G and signed up Samsung and Nokia as partners.

Thu, 05 Nov 2020 19:26:48 GMT

SNB has room for more FX interventions

The Swiss National Bank did not reach the limit of ability to buy FX assets to weaken the Swiss franc despite the massive balance sheet, board member Andrea Maechler stated.

Thu, 05 Nov 2020 17:48:45 GMT

Iberdrola to invest £67B in energy production

Iberdrola announced plans to invest £67.7B in renewable energy production and retail operations by 2025 to capitalise over rising global demand for clean power.

Thu, 05 Nov 2020 16:40:55 GMT

ByteDance in talks on new fundraising

TikTok-owner ByteDance was in early negotiations about a new funding round, which will value the company at $180B after the investment, sources said.

Thu, 05 Nov 2020 16:18:59 GMT

GM to invest C$1B in Canada operations

General Motors is set to invest C$1B in its operations in Canada to extend production of full-size pickup trucks to meet growing demand.

Thu, 05 Nov 2020 14:47:22 GMT

Alibaba tops quarterly revenue forecast

China's Alibaba Group topped its estimates for the Q3 revenue after its core e-commerce business kept growing following the emergence of China from the COVID-19 lockdown.

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