News

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Thu, 05 Mar 2020 17:58:43 GMT

Siluanov says Russia can cope with drop in oil prices

On Thursday, the Russian Finance Minister Anton Siluanov said that Russia is fiscally ready to cope with a crude oil price drop.

Thu, 05 Mar 2020 16:43:59 GMT

Finnair seeks to become carbon neutral in 25 years

On Thursday, Finnair announced it stepped up the efforts to reach its target of becoming carbon neutral by 2045, adding it would start by halving the company's net emissions by 2025.

Thu, 05 Mar 2020 15:53:18 GMT

OPEC backs largest oil cut in over decade

OPEC agreed to trim the oil output by extra 1.5M barrels per day in the current year's Q2 to support prices hit by the outbreak of coronavirus across the globe, it stated on Thursday.

Thu, 05 Mar 2020 15:07:54 GMT

Southwest Airlines sees coronavirus to hit Q1 revenue

On Thursday, Southwest Airlines forecast a hit worth about $300M to its Q1 operating revenue by the coronavirus outbreak, making the carrier to trim the outlook for its quarterly revenue.

Thu, 05 Mar 2020 14:32:50 GMT

Israel's Hailo attracts $60M, total funding $88M

Israeli start-up Hailo, the artificial intelligence chips developer, announced on Thursday it had raised $60M in a round of funding, bringing the company's total financing to $88M.

Thu, 05 Mar 2020 13:22:38 GMT

HP ditches Xerox's raised takeover bid

On Thursday, HP Inc has rejected a raised offer by Xerox Holdings worth about $35B, claiming that the bid still undervalued the PC maker.

Thu, 05 Mar 2020 11:45:01 GMT

UK's Flybe collapses after coronavirus hit

On Thursday, the British regional carrier Flybe collapsed after a dramatic fall in demand for travel, adding the troubled airline to other large corporate casualties hit by the coronavirus outbreak.

Thu, 05 Mar 2020 11:31:44 GMT

Finland's Nokia partners with Intel over 5G

Finland's Nokia Oyj has signed a partnership with Intel to accelerate its shift to the 5G technology, the Finnish group stated on Thursday, following its announcement of a similar cooperation deal with Marvell Technology.

Thu, 05 Mar 2020 10:37:28 GMT

Airlines see losing up to $113B in revenue due to virus

On Thursday, the International Air Transport Association reported that airlines are likely to lose up to $113B in the global passenger revenue this year due to the coronavirus outbreak.

Thu, 05 Mar 2020 09:36:46 GMT

Britain's John Lewis triggers strategy review on profit drop

Britain's John Lewis Partnership has triggered its business' strategic review following a report of a 23% drop in annual profit for the third consecutive time, reflecting a weak performance from the department stores unit.

Thu, 05 Mar 2020 07:43:18 GMT

Hugo Boss expects slowdown in Q1 sales amid virus

On Thursday, Hugo Boss, the German fashion house, warned that it was expecting its Q1 results to be hit by the coronavirus outbreak, with sales plunging in Asia and in other core markets.

Thu, 05 Mar 2020 07:29:28 GMT

Microsoft calls on some US staff to work from home

Microsoft Corp called on their employees in the Seattle area and California to work away from offices, at home, aiming to limit the coronavirus outbreak's spreading.

Thu, 05 Mar 2020 06:33:09 GMT

Uber open to using competitors' technology

Uber Technologies' self-driving unit was open to using competitors' technology in the industry, the company's Chief Executive stated.

Thu, 05 Mar 2020 05:23:27 GMT

Toyota recalls 3.2M cars amid fuel pump problem

Toyota Motor Corp stated that it is recalling 3.2M cars worldwide to address an issue with fuel pump that could cause engines stalling.

Wed, 04 Mar 2020 22:12:47 GMT

Huawei to build factory in France regardless of 5G decision

Huawei is set to build French factory regardless of the government's decision whether to use the company's equipment in 5G network.

Wed, 04 Mar 2020 20:50:06 GMT

Next Bank of England Governor speaks out

The incoming Governor of Bank of England Andrew Bailey stated on Wednesday that the central bank most likely would subsidize companies hit by the coronavirus.

Wed, 04 Mar 2020 19:59:29 GMT

WHO warns about shortage

On Wednesday, the World Health Organization announced that there is global shortage of medical supplies. The news caused a surge of medical supply producer stock prices.

Wed, 04 Mar 2020 18:45:59 GMT

Central banks pause monetary easing

It was revealed on Wednesday by Reuters that various central banks have paused their monetary easing measures that would battle the coronavirus due to the recent Federal Reserve rate cut.

Wed, 04 Mar 2020 17:40:25 GMT

OPEC officials meet in Vienna

On Wednesday, OPEC ministers met in Vienna to discuss crude oil production quotas. Meanwhile, crude oil prices hovered near historical low levels.

Wed, 04 Mar 2020 16:48:50 GMT

Brazilian economy grows

The government of Brazil stated on Wednesday that the Brazilian economy grew by 1.1% during the fiscal year of 2019. It was the slowest growth since 2016.

Wed, 04 Mar 2020 15:41:10 GMT

European stocks surge

On Wednesday, European stock indices surged. The surge was attributed to the monetary easing done by the US, which made investments stocks more attractive.

Wed, 04 Mar 2020 15:29:18 GMT

Skyworks trims outlook on supply chain hit

Apple Inc's supplier Skyworks Solutions reduced its quarterly results outlook on Wednesday, blaming the coronavirus outbreak that disrupted distribution but stressing that its largely Asia-based output facilities had not been affected significantly.

Wed, 04 Mar 2020 14:37:27 GMT

Investor Stroll considers sharing Formula One's tech

Canada's billionaire and Aston Martin's investor, Lawrence Stroll, is considering the opportunity of sharing Formula One's technology with the carmaker's road cars range.

Wed, 04 Mar 2020 12:42:22 GMT

CloudMinds banned from tech exports to China

CloudMinds, a start-up backed by SoftBank, was banned from exporting the US-origin technology to China, marking new hurdles the tech companies should face due to the increased restrictions by the US government.

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