News

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Wed, 23 May 2018 02:37:50 GMT

Foxconn unit to raise $4.3B in China IPO

Foxconn Industrial Internet, the subsidiary of the biggest contract manufacturer Foxconn, stated that it planned to raise $4.26 in what is likely to be the biggest China's initial public offering in nearly three years.

Wed, 23 May 2018 02:35:23 GMT

Trump to propose new tax cuts

The US President Donald Trump stated that he is set to propose some new tax cuts before November, when Republicans seek to retain the control of the US Congress in medium term elections.

Tue, 22 May 2018 20:51:55 GMT

Trump: meeting with Kim may be delayed

The scheduled meeting with the leader of the Democratic People's Republic of Korea Kim Jong Un may be delayed, the US President Donald Trump says.

Tue, 22 May 2018 20:51:18 GMT

Algeria, Egypt, Tunisia support UN peace plan for Libya

Algeria, Egypt and Tunisia support the implementation of the United Nations roadmap in war-torn Libya, countries say.

Tue, 22 May 2018 19:31:06 GMT

Spain places €1.95B on market

The Spanish treasury on Tuesday placed around €1.95B of debt on the market at negative interest rates.

Tue, 22 May 2018 19:30:17 GMT

Bangladesh approves $11.46B in development projects

The Executive Committee of the National Economic Council approved 16 development projects worth $11.46B, the Prime Minister Sheikh Hasina says.

Tue, 22 May 2018 18:34:58 GMT

UK economy to recover from weak start of this year

Mark Carney, the Governor of the Bank of England, stated that he anticipated the country's economy to bounce back from this year's weak start, when it was affected by heavy snowstorms, keeping the higher interest rate prospect on the table.

Tue, 22 May 2018 16:53:21 GMT

British factory output falls to two-year fall this month

The UK factory output dropped to the lowest level since 2016 in the three-month period to May, a survey indicated on Tuesday.

Tue, 22 May 2018 16:52:13 GMT

Russia, Turkey, Japan bring potential retaliation for US tariffs to $3.5B

Russia, Turkey and Japan warned the United Stated about its tariffs on aluminium and steel potential retaliation up to $3.5B annually, the WTO stated.

Tue, 22 May 2018 16:18:34 GMT

Russia's Finance Ministry to offer $492M of OFZ bonds

The Finance Ministry of Russia stated that it would offer nearly $492M worth of OFZ bonds at two auctions on Wednesday.

Tue, 22 May 2018 16:17:48 GMT

BP plans to cut 3% of upstream jobs

Britain's oil major BP stated announced plans to cut 3% of jobs in production and exploration within a restructuring of the company's upstream business.

Tue, 22 May 2018 15:27:56 GMT

Quarterly profit of US banks jumps 27.5% on lower rate of tax

The US banks reported profit of $56B in the March quarter, up 27.5% from a year before, as institutions started to take an advantage of lower tax rate, the FDIC report showed.

Tue, 22 May 2018 15:26:29 GMT

Tesco to shut Tesco Direct in July

The UK biggest retailer Tesco stated that it is likely to close Tesco Direct, the company's non-food website, as it was unable to make the loss-making business activity profitable.

Tue, 22 May 2018 14:25:20 GMT

Micron's shares gain 5% on $10B stock buyback

On Tuesday, Micron Technology's shares gained 5%, becoming the most traded stock on the Wall Street, following its announcement on buying back up to $10B of its shares.

Tue, 22 May 2018 14:18:57 GMT

Renault-Nissan-Mitsubishi alliance to invest $50M in start-ups

The venture capital fund of the Renault-Nissan-Mitsubishi alliance agreed to make five investments in the following four months in start-ups that total $50M, the fund's head stated on Tuesday.

Tue, 22 May 2018 13:31:41 GMT

Bank of Spain views Catalonia as main domestic risk to economy

On Tuesday, the Bank of Spain stated that it views Catalonia as the main domestic risk to the country's economy amid instability over tensions between Madrid and Barcelona.

Tue, 22 May 2018 13:28:19 GMT

Elon Musk admits breaking issue in Model 3

Tesla's CEO Elon Musk has admitted there was a malfunction issue with the Model 3 sedan discovered by Consumer Reports, adding the carmaker would fix the problem as soon as possible.

Tue, 22 May 2018 12:38:18 GMT

China to explore new measures to attract foreign investment

China's PM Li Keqiang stated the government was set to explore new measures to draw foreign investment, planning to revise a foreign investment negative list in the near future.

Tue, 22 May 2018 12:36:29 GMT

British watchdog calls on banks to use better tech in battle with cyber-crime

On Tuesday, a UK watchdog stated that British banks must use innovative technology inn their battle with cyber-crimes amid widespread fraud risks and an increase of cyber-attacks.

Tue, 22 May 2018 11:39:14 GMT

Century Securities offered for sale with $560M price tag

On Tuesday, Anbang Insurance Group's Century Securities has been put up for a sale with at least $50M price tag in the first move of the planned asset sales, controlled by the state takeover group.

Tue, 22 May 2018 11:30:44 GMT

Palestine calls for full inquiry into Israel at Hague court

Riyad al-Maliki, the Palestinian Foreign Minister, demanded the International Criminal Court's prosecutors to launch a full inquiry into the alleged Israeli HR abuses on the territory of Palestine.

Tue, 22 May 2018 10:37:16 GMT

BP makes $20M investment into Israel's fast-charge battery firm

The oil giant BP announced on Tuesday that its venture capital fund made a $20M investment into the Israeli fast-charging battery company StoreDot, as part of its push to tap the growth in EV technologies.

Tue, 22 May 2018 10:33:58 GMT

AccorHotels considers granting board seat to Huazhu Hotels

On Tuesday, AccorHotels stated it would consider in the following weeks whether to give Huazhu Hotels a board seat, following the Chinese hospitality firm's purchase of 4.5% stake in the company.

Tue, 22 May 2018 09:37:29 GMT

Australian firm Santos rejects Harbour Energy's takeover bid

Australia's Santos has finalised the talks with Harbour Energy and rejected its final takeover proposal of $10.8B, saying it did not represent the company's full value.

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