News

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Thu, 25 Feb 2021 15:32:01 GMT

EY Germany boss resigns

On Thursday, EY Germany stated that its CEO Hubert Barth would step down after the payment services company Wirecard's collapse.

Thu, 25 Feb 2021 14:34:03 GMT

Target plans Apple offering expansion

On Thursday, Target Corp announced it would expand Apple's offerings in stores and online, on the back of the retailer's strategy to house high-demand brands at the outlets to lure more customers.

Thu, 25 Feb 2021 13:14:40 GMT

StanChart office space reduction

Standard Chartered is considering to cut its office space at least by a third during the following three or four years, according to the company's CFO Andy Halford.

Thu, 25 Feb 2021 12:35:40 GMT

Munich Re last year's profit drops 55%

Munich Re, the German reinsurance group, is anticipating its net profit to recover in 2021 after it dropped as much as 55% last year due to the coronavirus crisis.

Thu, 25 Feb 2021 10:49:02 GMT

Global stocks surge

During Thursday's Asian and European trading hours, stock indices surged, due to the Federal Reserve confirming that there would be no rate hikes.

Thu, 25 Feb 2021 09:46:07 GMT

PIMCO names new APAC business head

On Thursday, Pacific Investment Management Co announced it had appointed the insider Alec Kersman as a new boss of the bond giant's Asia-Pacific business.

Thu, 25 Feb 2021 08:48:27 GMT

Aston Martin sees better 2021 sales

Aston Martin is expecting to achieve profitability and bolster its 2021 sales following a deep loss last year, as the company attracted fresh funding, changed its head and was hurt by the pandemic.

Thu, 25 Feb 2021 08:36:16 GMT

Geely, Volvo to launch powertrain JV

China's Geely Automobile together with its Swedish sister firm Volvo Cars are set to abandon their merger plans and launch a new powertrain joint venture as well as expand cooperation over electric cars.

Thu, 25 Feb 2021 07:35:10 GMT

Traveloka plans expansion before listing

Traveloka, the Southeast Asian biggest online travel startup, is planning to roll out its financial services in Vietnam and Thailand ahead of the US listing via a blank-cheque firm, its president said.

Thu, 25 Feb 2021 05:43:36 GMT

Nvidia sales rise on tight gaming chip supply

Nvidia Corp estimated its fiscal Q1 revenue to be better than expected, with flagship gaming chips to remain in limited supply for the following several months.

Thu, 25 Feb 2021 05:25:05 GMT

Milan asks food delivery firms to hire riders

Milan prosecutors ordered four major food delivery firms to officially hire 60K workers and pay a total of €733M in fines after an investigation revealed inadequate working conditions.

Thu, 25 Feb 2021 04:18:41 GMT

Volvo, Geely to launch new venture

Geely Automobile and Volvo Cars stated that they will abandon merger plans, though launch a new venture to expand cooperation on EV and combine powertrain operations.

Wed, 24 Feb 2021 21:59:56 GMT

Berkshire Grey to go public through SPAC deal

SoftBank-backed robotics company Berkshire Grey announced that it agreed to go public with a $2.7B valuation via a merger with the blank-check firm.

Wed, 24 Feb 2021 20:52:05 GMT

Powell comments on inflation

The Chairman of the US Federal Reserve Jerome Powell stated on Wednesday that it could take up to three years to reach the target inflation of the Fed.

Wed, 24 Feb 2021 19:53:49 GMT

India plans new social media controls

On Wednesday, the Indian government revealed new plans for controlling social media. Namely, social media platforms would be obliged to assist the authorities and erase content.

Wed, 24 Feb 2021 18:41:20 GMT

Brainard comments on economy

The Governor of the Board of the Federal Reserve Lael Brainard stated on Wednesday that the Fed was still far from its inflation and employment goals.

Wed, 24 Feb 2021 17:46:07 GMT

Microstrategy buys up Bitcoin

On Wednesday, the major backer of Bitcoin Microstrategy revealed that it had acquired addition $1.03 billion of Bitcoin during the most recent dip of the cryptocurrency.

Wed, 24 Feb 2021 16:42:08 GMT

US home sales beat forecasts

Data published by the US government on Wednesday revealed that home sales in the US grew more than expected. However, the announcement did not impact the value of the USD.

Wed, 24 Feb 2021 16:05:35 GMT

Crude oil prices rise

During Wednesday's trading hours, the prices for oil continued to surge, as supply from the US continued to be limited.

Wed, 24 Feb 2021 14:53:46 GMT

Joby plans $6.6B public listing

The electric air taxi company Joby Aviation is planning to go public via the $6.6B reverse merger deal with the blank check firm Reinvent Technology Partners, both companies announced on Wednesday.

Wed, 24 Feb 2021 13:47:56 GMT

Foxconn ties up with Fisker over EVs

Apple's supplier Foxconn will team up with the electric carmaker Fisker to manufacture over 250K vehicles per year starting from late 2023, sending Fisker's shares up 23.4% on the news on Wednesday.

Wed, 24 Feb 2021 12:49:24 GMT

ReNew Power plans IPO via $8B SPAC deal

On Wednesday, Goldman Sachs-backed firm ReNew Power is planning a public listing via a merger deal with the SPAC RMG Acquisition Corporation II that would value India's biggest renewable energy company at $8B.

Wed, 24 Feb 2021 10:50:58 GMT

Generali launches investment plan

On Wednesday, the Italian insurer Generali stated that it would launch a 3.5 billion Euro investment plan that would boost the European economy.

Wed, 24 Feb 2021 10:08:17 GMT

Boyu Capital aims at $6B for new PE fund

Ant group's investor Boyu Capital is planning to raise a new private equity fund focused on China and targeting $6B, Reuters reported on Wednesday.

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