News

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Tue, 15 Oct 2019 09:51:43 GMT

Hyundai plans $35B investment in future automotive tech

Hyundai Motor Group announced on Tuesday it is planning a strategic investment worth $34.65B in the future self-driving technology, as the South Korean top carmaker speeds up its efforts to catch up in the automotive car race.

Tue, 15 Oct 2019 08:51:35 GMT

Blackstone plans tender bid for Japan's Unizo

On Tuesday, Blackstone Group, the private equity firm, announced it would launch its tender offer for the Japanese hotel chain Unizo Holding at $46 per share, shooting back after its previous bid for Unizo was rebuffed.

Tue, 15 Oct 2019 08:34:39 GMT

Exxon Mobil signs expertise-sharing deal with India's ONGC

Exxon Mobil Corp, the global energy giant, is planning to provide its technology and expertise to Oil and Natural Gas Corp, the Indian largest state-owned explorer, to boost the development of its resources in the offshore blocks.

Tue, 15 Oct 2019 06:47:37 GMT

Barneys close to bankruptcy deal

Barneys New York, the US luxury department-store chain, is nearing a $270M bankruptcy deal with Authentic Brands Group, as the contract could result in the Barneys' shops opening in the Saks Fifth Avenue stores.

Tue, 15 Oct 2019 06:37:31 GMT

WeWork leans toward JPMorgan's financing package

The shared office space group WeWork Companies prefers nearly $5.0B JPMorgan Chase's financing package instead of selling its majority stake to the Japan-based SoftBank Group, according to a Bloomberg report.

Tue, 15 Oct 2019 05:58:45 GMT

Stock indices decline

Wall Street stock indices declined on Monday, as uncertainty over the future of global trade was took over.

Tue, 15 Oct 2019 03:41:04 GMT

Oil prices decline on Monday

Crude oil price benchmarks ended Monday's trading with a two percent decline, which was attributed to US-China trade deal doubts.

Tue, 15 Oct 2019 03:32:54 GMT

Britain reviews arms exports to Turkey

The Financial Times reported on Monday that the United Kingdom is reviewing all of its licences for weapons exports to Turkey.

Tue, 15 Oct 2019 01:53:41 GMT

Trump tariffs Turkey

On Monday, as a response on the Turkish attack on Syria, the President of the United States set tariffs on Turkey, which beat down the value of the Turkish Lira.

Mon, 14 Oct 2019 19:43:47 GMT

Mnuchin expects new tariffs

On Monday, the US Treasury Secretary Steven Mnuchin stated that, if no trade deal is made, additional tariffs could be set on China on December 15.

Mon, 14 Oct 2019 17:50:42 GMT

Blizzard Entertainment decreases HK gamer's punishment

Blizzard Entertainment announced on Monday that it would decrease the punishment for a Hong Kong gamer, who publicly supported the pro-democratic protests.

Mon, 14 Oct 2019 17:50:34 GMT

Lufthansa comments on crew strike

On Monday, Lufthansa announced that a scheduled German cabin crew strike is illegal. Meanwhile, the company intends to upkeep all planned flights.

Mon, 14 Oct 2019 16:59:16 GMT

EU officials comment on Brexit

Diplomats of the European Union announced on Monday that a Brexit deal is unlikely due to more concessions being needed from the UK.

Mon, 14 Oct 2019 15:40:28 GMT

Turkish Lira slips 0.6%

On Monday, the value of the Turkish Lira declined by 0.6% due to the US President Donald Trump warning the country about possible sanctions.

Mon, 14 Oct 2019 14:45:38 GMT

SoftBank aims to control WeWork via financing package

SoftBank Group is seeking control over WeWork Companies through its prepared financing package that would significantly increase SoftBank's stake in the shared office space firm, according to Reuters.

Mon, 14 Oct 2019 13:42:07 GMT

Germany allows Huawei access to 5G

On Monday, German officials announced that new security rules would allow Huawei to supply 5G network gear to Germany.

Mon, 14 Oct 2019 12:42:29 GMT

China crack downs on sugar smugglers

A report published by Reuters on Sunday revealed that a Chinese government crackdown on sugar smugglers has increased global supply and decreased prices.

Mon, 14 Oct 2019 11:48:16 GMT

WTO clears US tariffs on EU

On Monday, the World Trade Organization allowed the US to impose tariffs on imports from the European Union due to subsidies given to the plane maker Airbus.

Mon, 14 Oct 2019 10:50:11 GMT

Stock indices decline

During Monday's Asian and European trading sessions, global stock indices declined, as the markets saw no progress in US-China trade talks.

Mon, 14 Oct 2019 09:42:47 GMT

UK's Finance Minister plans post-Brexit budget

On Monday, the British Chancellor of the Exchequer Sajid Javid said that he would deliver the first post-Brexit budget on November 6.

Mon, 14 Oct 2019 09:20:35 GMT

VW's CEO says shift in electric car production won't hurt profits

Herbert Diess, the Chief Executive Officer of Volkswagen Motor, said on Monday that he doesn't expect the shift in production of electric vehicles to affect profit margins.

Mon, 14 Oct 2019 08:01:01 GMT

Emirates does not expect Boeing to deliver 777-9 in 2020

Tim Clark, the President of Emirates Airlines, said on Monday that he doesn't look like Emirates would receive any of the Boeing 777-9 jets it has ordered in 2020.

Mon, 14 Oct 2019 07:31:22 GMT

John Menzies appoints new CFO

On Monday, John Menzies, the aviation services group, announced the appointment of Alvaro Gomez-Reino, as the company new Chief Financial Officer.

Mon, 14 Oct 2019 04:30:21 GMT

ACCC to probe Australian banks

The Australian Competition and Consumer Commission (ACCC) received on Monday an instruction from the government to check why local banks did not go through three interest rate cuts in 2019 in full.

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