News

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Thu, 12 Mar 2020 14:19:14 GMT

China's February car sales drop 79%

China's car sales tumbled 79% in February, the largest ever monthly decline, as the demand was hit by the outbreak of coronavirus.

Thu, 12 Mar 2020 14:18:04 GMT

AT&T's Xandr CEO announces resignation

Brian Lesser, the CEO of AT&T's advertising unit Xandr, stepped down from his position, raising questions over the future of the advanced advertising strategy, Reuters reported.

Thu, 12 Mar 2020 13:19:34 GMT

US producer prices show largest slip in five years

The US producer prices dropped by its most in the previous five years last month, tumbled by declines in good costs such as services and gasoline.

Thu, 12 Mar 2020 11:41:05 GMT

Coronavirus affects sales at WH Smith's UK airport shops

Sales at WH Smith's stores in Britain's airports plunged by 35% due to the coronavirus outbreak, potentially reducing the company's profit by about $51M in 2020, the UK retailer said.

Thu, 12 Mar 2020 11:26:21 GMT

Airline stocks plummet

On Thursday, stock prices of Airlines plummeted even further than during the previous week, as United States announced travel restrictions from the EU.

Thu, 12 Mar 2020 09:00:57 GMT

TikTok to boost transparency after US privacy concerns

TikTok, the social media app, launches a content moderation centre, seeking to boost its transparency, the Chinese firm stated on Wednesday, after it had faced scrutiny from the United States over user data sharing with China's government.

Thu, 12 Mar 2020 08:37:54 GMT

China's February car sales drop 79%

China's car sales tumbled 79% in February, the largest ever monthly decline, as the demand was hit by the outbreak of coronavirus.

Thu, 12 Mar 2020 07:27:37 GMT

AT&T's Xandr CEO announces resignation

Brian Lesser, the CEO of AT&T's advertising unit Xandr, stepped down from his position, raising questions over the future of the advanced advertising strategy, Reuters reported.

Thu, 12 Mar 2020 05:50:10 GMT

Lufthansa Group to cancel 23K flights

Airline group Lufthansa announced it would cancel 23K flights from 29th of March to 24th of April amid the coronavirus outbreak.

Wed, 11 Mar 2020 23:07:01 GMT

PepsiCo to buy Rockstar for $3.85B

PepsiCo made the company's biggest bet in the market of energy drinks with a $3.85B deal to acquire Rockstar Energy Beverages.

Wed, 11 Mar 2020 20:41:47 GMT

WTO comments on services

On Wednesday, the World Trade Organization announced that trade in services has declined at the start of 2020.

Wed, 11 Mar 2020 20:04:23 GMT

Boeing plans loan drawdown

Bloomberg revealed on Wednesday that Boeing intends to draw upon a $13.8 billion loan. The company is among those suffering from the outbreak of the coronavirus.

Wed, 11 Mar 2020 18:46:06 GMT

Telefonica and TIM shares surge

On Wednesday, Telefonica and TIM announced that the two companies would bid for the Brazilian carrier Oi. The announcement caused a surge of the two company's stock prices.

Wed, 11 Mar 2020 18:05:47 GMT

UAE joins Saudi Arabia in oil production increase

The United Arab Emirates revealed on Wednesday that the country would increase oil production to a record high.

Wed, 11 Mar 2020 16:42:35 GMT

Crude oil prices decline

On Wednesday, crude oil price benchmarks continued to fall, as the United States and Saudi Arabia announced production increases.

Wed, 11 Mar 2020 15:41:37 GMT

Wall Street indices decline

At the start of Wednesday's US trading, US stock indices declined, as the impact of the coronavirus continued to fuel a sell off.

Wed, 11 Mar 2020 14:52:48 GMT

UK trims growth outlook for 2020, raises for 2021

Rishi Sunak, the UK Finance Minister, announced the updated growth outlook for the British economy that was on its way to expand by 1.1% in 2020 and 1.8% the next year, based on the first annual budget presented on Wednesday.

Wed, 11 Mar 2020 14:09:21 GMT

VW likely to temporary layoff staff at Spanish plant

German automaker Volkswagen is considering temporary layoffs at its Spain's Navarra plant in case of the supply chain disruption triggered by the coronavirus outbreak, a VW spokesman stated.

Wed, 11 Mar 2020 12:21:50 GMT

Adidas, Puma see losses in China sales amid coronavirus

Adidas and Puma, the German sportswear makers, stated on Wednesday that they expect a major slide in China sales amid the coronavirus outbreak.

Wed, 11 Mar 2020 10:56:28 GMT

ECB asks EU governments to increase spending

On Wednesday, the European Central Bank's President Christine Lagarde stated that the government of the European Union should increase spending to counter the effects of the coronavirus.

Wed, 11 Mar 2020 10:13:26 GMT

FCA likely to close Italy plants due to virus

On Wednesday, Fiat Chrysler stated it is likely to temporarily close some Italian factories, in response to the coronavirus outbreak that hit the country, becoming the biggest in Europe.

Wed, 11 Mar 2020 09:36:57 GMT

Business travel sector seen to lose $820B in revenue

Business travel sector will likely to lose nearly $820B in its global revenue, with China forecasts about half of losses, as the coronavirus outbreak hit the world.

Wed, 11 Mar 2020 07:41:59 GMT

Citigroup picks Loretta Ko to head FIG

On Wednesday, Citigroup announced it had appointed Loretta Ko as a new head of the bank's financial institutions group in Hong Kong, making her return to the firm after 15-year work with Citigroup between 1989 and 2004.

Wed, 11 Mar 2020 07:34:29 GMT

Goldman Sachs marks openness to acquisitions

Stephen Scherr, Goldman Sachs Group's Chief Financial Officer, stated the lender is open to new acquisitions, pointing to those that could accelerate its existing businesses growth.

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