News

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Fri, 26 Jul 2019 09:33:31 GMT

Renault trims revenue goal amid weaker car demand

Renault has reduced its revenue goal as te carmaker's profit for the year's first half was hit by declining demand in the car industry and the collapse of earnings at the alliance partner Nissan Motor on the back of the Carlos Ghosn row.

Fri, 26 Jul 2019 08:11:21 GMT

Sports Direct vows to release delayed results on Friday

The UK sporting goods retailer Sports Direct stated it was still finalising the already delayed results for the full year, expecting to release the report later on Friday.

Fri, 26 Jul 2019 06:41:58 GMT

Brazil's Petrobras gets over $100M via recovered assets

Brazil's Petrobras has received $112M this week through the recovered assets and leniency deals from the parties involved in Brazilian expanding corruption probe into Car Wash, the oil giant reported.

Fri, 26 Jul 2019 06:35:49 GMT

Berkshire Hathaway lifts stake in BoA

Berkshire Hathaway has increased its stake in the Bank of America on Thursday, raising its number of shares owned in the company from 950M as of July 17, according to a regulatory filing.

Fri, 26 Jul 2019 05:05:49 GMT

Bayer to pay $86M in damages

The California Superior Court ruled on Thursday that Bayer AG had to pay $86.7M in damages to a plaintiff for a cancer causing weed killer Roundup.

Fri, 26 Jul 2019 03:19:57 GMT

Apple pays $1B for Intel's unit

Apple took the main step towards supplying its own smartphone chips by buying the majority of Intel's modem business in a $1B deal, the companies announced.

Thu, 25 Jul 2019 19:43:55 GMT

Boeing reports largest-ever loss on 737 MAX jets

Boeing reported the biggest-ever quarterly loss, tumbled by the spiralling costs spent on resolving the 737 MAX jet issues, and warning the planemaker may have to halt the production of it completely, in case it faces new hurdles with regulators.

Thu, 25 Jul 2019 18:46:27 GMT

China's Wanda Sports trims US listing size

Dalian Wanda Group conglomerate's unit Wanda Sports Group has reduced the size of the US IPO to about $380M from its initial size of around $500M, lowering the price range to $9-$11 per ADS in comparison with the $12-$15 range that was stated previously.

Thu, 25 Jul 2019 18:05:31 GMT

Gazprom offered to sell its shares for $3.15B

On Thursday, the world's largest conventional gas producer Gazprom stated it received bids worth $3.15B to sell 3% of the company's own shares, which it was selling in the market.

Thu, 25 Jul 2019 17:02:18 GMT

Nike considers Hurley surfwear brand sale

The world's biggest sportswear maker Nike is considering options for its Hurley International surfwear brand, including its potential divestment, as such brands are losing their appeal within non-surfing consumers.

Thu, 25 Jul 2019 15:46:54 GMT

CAAM to trim 2019 sales estimates to 5% fall

China's largest car industry association reduced this year's sales estimates to a 5% drop YOY to 26.68M cars amid slowing economic growth, expecting sales to drop for another year running, CAAM stated on Thursday.

Thu, 25 Jul 2019 15:24:08 GMT

Nissan to trim 12.5K jobs amid crisis

Nissan Motor has revealed its biggest plan on restructuring in a decade, cutting 12.5K job positions globally and flagging potential plant shutdowns to control its costs that increased during Carlos Ghosn being a CEO.

Thu, 25 Jul 2019 14:04:10 GMT

Trump calls on House Republicans to support US spending deal

On Thursday, the US President Donald Trump called on the Republicans in the House of Representatives to vote for the US government spending plan, which consisted of a two-year deal aimed to expand the borrowing authority of the nation and fund the country's federal government.

Thu, 25 Jul 2019 13:30:16 GMT

Fed to trim rates for first time in ten years

The Federal Reserve has cut tits rate this month for the first time in a decade, while analysts forecast another later during the year due to growing economic risks from the US-Sino trade war.

Thu, 25 Jul 2019 12:06:16 GMT

Tesla misses Q2 financial targets

On Wednesday, the US electric carmaker Tesla missed its Q2 financial targets, pushing back the company's profit timeline for the second time, while announcing its founding engineer and Chief Technology Officer J.B. Straubel was set to step down from the role.

Thu, 25 Jul 2019 11:25:11 GMT

Advent International to acquire Britain's Cobham

Advent International, the US private equity group, agreed to acquire the British defence and aerospace company Cobham, known for its air-to-air refuelling technology, in a deal valued at $5.0B.

Thu, 25 Jul 2019 09:40:40 GMT

ECB backs Christine Lagarde

On Thursday, the European Central Bank announced that it has no objections to Christine Lagarde being appointed as the President of the ECB.

Thu, 25 Jul 2019 09:33:36 GMT

SABIC, Clariant end talks on venture formation

On Thursday, Clariant, the Swiss chemicals maker, stated has postponed the planned joint venture with SABIC, following the abrupt resignation of its Chief Executive Ernesto Occhiello.

Thu, 25 Jul 2019 08:04:11 GMT

Toyota plans $600M investment in China's Didi

On Thursday, Toyota Motor Corp stated it would make a $600M investment in Didi Chuxing, the Chinese ride-hailing giant, and a newly-formed joint venture amid companies' intention to develop electric and connected vehicle technologies in the Asian country.

Thu, 25 Jul 2019 07:14:43 GMT

AstraZeneca raises sales forecast after Q2 cancer drug boost

AstraZeneca has raised its sales estimates for 2019 by a low double-digit percentag, boosted by cancer medicine sales, including Tagrisso treatment's almost doubling results, according to Reuters.

Thu, 25 Jul 2019 05:55:15 GMT

Cable firm Charter looks at T-Mobile-Sprint assets

The cable company Charter Communications has submitted a proposal to the Department of Justice to acquire telecom assets that are sold under Sprint Corp and T-Mobile Corp combination, Reuters reported citing sources familiar with the situation.

Thu, 25 Jul 2019 03:57:12 GMT

Pay deals of major British employers hold at 2.5%

Major Britain's employers ensured average pay increases of 2.5% to their staff in the three-month period to June, unchanged from the March quarter of 2019, data from XpertHR revealed on Thursday.

Thu, 25 Jul 2019 03:46:24 GMT

South Korea's GDP up 1.1% in Q2

South Korea's economy turn back back to growth, as GDP rose a seasonally-adjusted 1.1% in the second quarter, though the expansion was mainly driven by government spending, indicating that the Central Bank may need to decrease rates again to stoke demand.

Thu, 25 Jul 2019 03:31:10 GMT

Canada invests $64.7M in satellite firm

The Canadian government announced that it is investing $64.7M in an Ottawa-based satellite firm within an effort to provide improved broadband internet access to remote and rural communities.

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