News

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Wed, 03 Jun 2020 18:12:21 GMT

S. Korea foreign reserves increase to $407.3B

South Korea's foreign reserves increased for the second consecutive month to $407.3B in May, a statement published by the Bank of Korea shows.

Wed, 03 Jun 2020 17:08:36 GMT

Hong Kong retail sales decrease in April

Retail sales in Hong Kong fell to $3.1B in April, a decline of 36.1% from the same period the previous year, data published by the Hong Kong Special Administrative Region government show.

Wed, 03 Jun 2020 16:29:21 GMT

S. Korea export falls 23.7%

The South Korean export declined 23.7% to $34.86B in May, compared to the same period the prior year, the Ministry of Trade, Industry and Energy reports.

Wed, 03 Jun 2020 13:42:58 GMT

Airlines cut fares

On Wednesday, International Air Transport Association announced that in May airlines cut fares by an average of 23%.

Wed, 03 Jun 2020 13:02:44 GMT

3M appoints GE exec Patolawala as CFO

On Wednesday, the US industrial conglomerate 3M has named Monish Patolawala, General Electric's executive, as 3M's new Chief Financial Officer who will replace Nick Gangestad starting from July 1.

Wed, 03 Jun 2020 11:54:45 GMT

BlackRock to switch focus to Asia credit, oil and travel

BlackRock, the world's largest asset manager, is planning to switch its focus to domestic tourism, oil stocks and debt in India and China, calling out investment opportunities in Asia, it said on Wednesday.

Wed, 03 Jun 2020 11:25:43 GMT

Renault completes €5B loan

On Wednesday, Renault has finalised the €5B French government-backed loan, boosting the automaker's finances amid the coronavirus crisis, which hit hard the auto industry.

Wed, 03 Jun 2020 10:11:10 GMT

European business declines

Survey data published on Wednesday revealed that in May Euro Zone business activity continued to decline.

Wed, 03 Jun 2020 09:31:21 GMT

World shares hit three-month highs on Wednesday

On Wednesday, global shares hit their three-month highs on hopes for economic recovery after the coronavirus crisis, despite the on-going US civil unrest.

Wed, 03 Jun 2020 07:55:03 GMT

Google sued for $5B over illegal internet tracking

Google has faced a $5B lawsuit in the United States for tracking its users' internet use in a "private" mode, invading their privacy.

Wed, 03 Jun 2020 06:45:10 GMT

PayPal, WhatsApp invest in Indonesia's Gojek

On Wednesday, PayPal Holdings and Facebook's WhatsApp announced they had made investments in Indonesia's Gojek, the ride-hailing and food delivery app operator, as part of its ongoing fundraising round.

Wed, 03 Jun 2020 06:39:16 GMT

Twitter appoints ex-Google CFO as new chair

Twitter has named the former Google Chief Financial Officer Patrick Pichette as its new board chairman, Reuters reported.

Wed, 03 Jun 2020 05:05:46 GMT

Volkswagen to name Blume as brand chief

According to sources with knowledge of the discussion, the CEO of Volkswagen AG Herbert Diess would name Porsche's CEO Oliver Blume as the VW brand chief.

Wed, 03 Jun 2020 04:02:51 GMT

Volkswagen completes $2.6B deal with Argo AI

Volkswagen AG has completed its $2.6 billion investment deal with Argo AI, the startup company said on Tuesday.

Wed, 03 Jun 2020 03:03:52 GMT

US begins investigation into vanadium imports

On Tuesday, the US Commerce Department announced that it was commencing a national security investigation into vanadium imports.

Wed, 03 Jun 2020 01:47:56 GMT

Dubai to allow malls and private businesses to reopen

According to Dubai's media office, Dubai would allow private businesses and malls to reopen starting on June 3.

Tue, 02 Jun 2020 18:44:41 GMT

Chinese firms purchase US soybeans

According to sources with knowledge of the matter, China's state-owned companies purchased at least three shiploads of soybeans from the United States on Monday.

Tue, 02 Jun 2020 18:04:58 GMT

BOA promises $1B to address economic and racial disparity

On Tuesday, Bank of America promised $1 billion to assist communities across the United States to address racial and economic inequality.

Tue, 02 Jun 2020 17:04:20 GMT

VW to appoint Blume as brand head

According to the Auto Motor and Sport report, published on Tuesday, the CEO of Volkswagen AG Herbert Diess would appoint Porsche's CEO Oliver Blume as the VW brand director.

Tue, 02 Jun 2020 16:00:53 GMT

Argo AI completes $2.6B deal with Volkswagen

Volkswagen AG finalised its $2.6 billion investment deal with Argo AI, the Pittsburgh-based self-driving vehicle startup announced on Tuesday.

Tue, 02 Jun 2020 15:04:49 GMT

US stocks open higher

On Tuesday, Wall Street's main indexes opened higher. The Dow Jones Industrial rose by 0.42% at the open, while the S&P 500 edged higher by 9.05 points.

Tue, 02 Jun 2020 13:50:29 GMT

Oil prices jump on potential output cuts

On Tuesday, oil prices climbed to almost three-month highs ahead of the OPEC+ meeting on hopes that major oil producers would extend output cuts, according to Reuters.

Tue, 02 Jun 2020 13:00:04 GMT

EU to decide on AMS's bid for Osram

The European antitrust regulators are set to pass a verdict by July 6 on the sensor maker AMS's €4.6B bid for Osram, the German lighting group, after their preliminary review.

Tue, 02 Jun 2020 11:48:40 GMT

Telefonica DE chooses Ericsson for 5G network

Telefonica Deutschland has picked Ericsson to use its equipment in building the 5G core network in Germany, saying that the Swedish supplier will safeguard the next-generation services' security.

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