News

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Thu, 01 Mar 2018 09:33:55 GMT

Carmakers' alliance seeks accelerating collaborations in key areas

The Renault-Mitsubishi-Nissan alliance stated it was set to speed up the collaborations between the three carmakers in the key areas, as they seek to boost cost savings and profits.

Thu, 01 Mar 2018 09:31:38 GMT

Ex-Givenchy designer becomes new Burberry's CCO

The luxury clothing brand Burberry named the former Givenchy designer Riccardo Tisci as the company's new Chief Creative Officer to replace Christopher Bailey.

Thu, 01 Mar 2018 08:31:13 GMT

Exxon exits JVs with Russia's Rosneft amid sanctions

Exxon Mobile is eager to quit all the joint ventures with the Russian oil company Rosneft, citing the EU and US sanctions that were first imposed in 2014.

Thu, 01 Mar 2018 08:29:29 GMT

Walmart lifts minimum age to buy firearms, ammunition

On Wednesday, Walmart stated it had raised the minimum age for buying ammunition and firearms to 21 years, following the Florida high school massacre.

Thu, 01 Mar 2018 07:34:56 GMT

Cabinet reshuffle to trigger lift in South African economic confidence

The Monday's reshuffle of the South African Cabinet triggered by the President Cyril Ramaphosa will bring a boost to the country's economic confidence, according to a Reuters poll.

Thu, 01 Mar 2018 07:26:33 GMT

Alibaba's unit invests $150M in Indian firm Zomato

The Chinese Alibaba's unit Ant Financial Services Group had invested $150M in India's food search and delivery firm Zomato, valuing the service at over $1B, the companies reported on Thursday.

Thu, 01 Mar 2018 05:25:08 GMT

China's NHA plans significant workforce cuts

China's conglomerate NHA announced plans for significant job cuts, as the company faced liquidity concerns, following debt-fuelled acquisition, the REDD reported.

Thu, 01 Mar 2018 05:23:18 GMT

US November crude oil output reaches record high

The US crude oil output managed to hit 47-year high in November, though retreated modestly in December, the country's Energy Department stated.

Thu, 01 Mar 2018 04:08:25 GMT

Best Buy to shut small mobile phone stores in US

The US leading consumer electronic retailer Best Buy stated that it would close 250 small stores in the country, aiming to become more profitable and remain competitive.

Thu, 01 Mar 2018 04:07:32 GMT

Microsoft to purchase solar power from Singapore's Sunseap

Microsoft Corp stated it is set to purchase solar power from Sunseap in Singapore, the company's first deal on renewable energy in Asia.

Thu, 01 Mar 2018 02:52:25 GMT

Caixin PMI hits 51.6 last month

Markit reported that its Caixin PMI for the Chinese manufacturing sector rose to 51.6 in February from the preceding month's 51.5, surpassing expectations for a decrease to 51.3.

Thu, 01 Mar 2018 02:51:34 GMT

Australia private capital expenditure falls unexpectedly in Q4 2017

The ABR reported on Thursday that total private capital expenditure dropped 0.2% in the Q4 of 2017, after climbing 1.9% in the prior quarter, while analysts anticipated an increase of 1.0%.

Wed, 28 Feb 2018 21:19:19 GMT

Japan and EU plan to finalise trade agreement before Brexit

EU and Japan officials claimed that both sides are rushing to finalise the new trade agreement between European Union and Japan, hoping to prepare it by 2019 before Brexit.

Wed, 28 Feb 2018 21:01:18 GMT

US and EU officials to discuss Iran nuclear deal in Berlin

On Wednesday, a Foreign Ministry of Germany stated that US and European officials are planning to organise a meeting in Berlin in the next month to discuss 2015 Iran nuclear deal. 

Wed, 28 Feb 2018 20:11:34 GMT

Marshall Islands to launch its own cryptocurrency

According to one of the Marshall Islands officials, the country is planning to release its own sovereign cryptocurrency called SOV that will serve as an official legal tender. 

Wed, 28 Feb 2018 20:01:43 GMT

Spotify files for $1B IPO

On Wednesday, Sweden-based music streaming platform Spotify filed for $1B initial public offering with the U.S. Securities and Exchange Commission, preparing to list shares on NYSE.

Wed, 28 Feb 2018 19:17:30 GMT

US crude oil inventories rise three million barrels last week

The US Energy Information Administration reported on Wednesday that domestic crude oil inventories rose by three million barrels for the week ended 23 February.

Wed, 28 Feb 2018 19:16:55 GMT

Senate approves Trump's Federal Trade Commission nominees

On Wednesday, the spokesperson of the US Senate Commerce Committee said that the panel had approved four Trump's candidates for the posts at the Federal Trade Commission.

Wed, 28 Feb 2018 18:04:01 GMT

US January pending home sales drop 4.7%

According to the data released by the US National Association of Realtors, pending home sales tumbled 4.7% for the month of January, missing analysts' expectations for a 0.4% uptick.

Wed, 28 Feb 2018 18:03:32 GMT

Chicago PMI slips to 61.9 in February

The Institute for Supply Management reported that its Chicago PMI slid to 61.9 over the course of February from 65.7-point reading registered in the preceding month.

Wed, 28 Feb 2018 17:08:58 GMT

US Q4 GDP in line with projections

The US Bureau of Economic Analysis said on Wednesday that the country's Q4 GDP expanded at a quarterly rate of 2.5%, in line with forecasts.

Wed, 28 Feb 2018 17:08:29 GMT

Canadian RMPI beats estimates in January

Data released by Statistics Canada revealed the country's raw materials price index surged 3.3% in January, topping analysts' expectations for a 1.8% increase.

Wed, 28 Feb 2018 16:21:15 GMT

Euro area yearly CPI down to 1.2%

According to the preliminary data released by Eurostat, Euro zone's inflation edged slightly lower in February, coming in at an annualised growth pace of 1.2%.

Wed, 28 Feb 2018 16:20:34 GMT

Swiss KOF economic barometer jumps to 108.0 in February

The KOF Economic Research Agency reported on Wednesday that its economic barometer for Switzerland stabilised at a high level in February, jumping to 108.0 from 107.6 recorded in January.

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