News

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Wed, 16 Oct 2019 17:06:37 GMT

UK launches formal inquiry into Amazon Deliveroo deal

On Wednesday, Britain's competition regulator has launched a formal probe into Amazon.com's investment in the food delivery firm Deliveroo, setting December 11 as a deadline for a decision on the investigation's first phase.

Wed, 16 Oct 2019 15:46:02 GMT

Volvo Cars seeks to become greener by 2040

China's Geely Holding-controlled Volvo Cars is seeking to reduce the carbon footprint produced by its vehicles by 40% by 2025 as the carmaker aims to become climate neutral by the year of 2040, it announced on Wednesday.

Wed, 16 Oct 2019 14:45:50 GMT

Huawei Q3 revenue jumps 27% on robust sales

Huawei Technologies reported on Wednesday its Q3 revenue skyrocketed 27% to $23.28B, boosted by an increase in its smartphone shipments launched before the United States blacklisted the Chinese company.

Wed, 16 Oct 2019 13:42:55 GMT

EZ inflation plunges more than expected

The Euro Zone inflation has increased 0.8%, plunging to the slowed pace in about three years this September and missing previous expectations of a 0.9% rise, the EU statistics agency reported on Wednesday.

Wed, 16 Oct 2019 13:09:05 GMT

BoA profit drops on $2.0B impairment charge

Bank of America, the second-biggest US bank by assets, reported on Wednesday its quarterly profit plunged 21% to $5.27B, or 56 cents a share, tumbled mainly by a $2.0B pretax impairment charge.

Wed, 16 Oct 2019 11:47:42 GMT

Ireland says says Brexit issues not resolved

On Wednesday, Leo Varadkar, the Irish Prime Minister stated that the last talks between Britain and the EU had not brought any solution to the Brexit issues, including trade and the Irish border status.

Wed, 16 Oct 2019 10:47:40 GMT

Huawei's revenue grows 24.4% in 2019 first three quarters

The Chinese technology giant Huawei Technologies reported on Tuesday its revenue rose 24.4% during the first three quarters in the current year to $86.0B, by shipping over 185M smartphones within the same period, up 26% year-over-year.

Wed, 16 Oct 2019 10:26:27 GMT

Signify to buy Cooper Lighting in $1.4B deal

The Dutch-based lighting firm Signify agreed with Eaton Corp. to acquire Cooper Lighting Solutions in a cash-deal worth $1.4B, as it seeks to expand its footprint in North America.

Wed, 16 Oct 2019 09:34:40 GMT

GM, union close to end UAW strike

The union of the United Auto Workers and General Motors are nearing a deal to terminate the month-long UAW strike that had cost the carmaker around $2.0B, after the President Mark Reuss and the CEO Mary Barra took part in the contract talks.

Wed, 16 Oct 2019 07:52:40 GMT

PE firm Permira closes latest fund $12B

The global private equity group Permira has closed its new fund at $12.13B of committed capital, as the firm seeks to invest in the technology businesses, consumer and financial services, as well as healthcare and industrial technology industries.

Wed, 16 Oct 2019 06:47:03 GMT

Apollo Global makes $5.0B bid for Tech Data

Apollo Global Management, the private equity firm, made a bid to acquire the US technology equipment distributor Tech Data Corp in a deal worth $5.0B, Reuters reported.

Wed, 16 Oct 2019 06:34:57 GMT

MGM plans two resort sales for $5.0B

MGM Resorts International is planning to sell its Las Vegas' Circus Circus and Bellagio resorts in two separate deals worth around $5.0B, as the US casino operator aims at monetising its assets of real estate and boost its balance sheet.

Wed, 16 Oct 2019 05:04:00 GMT

Bank of Korea cuts key rate

The Central Bank of South Korea trimmed its key interest rate 25 basis points to 1.25%, in line with expectations, leaving the possibility for further easing.

Wed, 16 Oct 2019 04:10:30 GMT

IMF slashes Saudis' growth forecast

The International Monetary Fund announced its expectations for the economy of Saudi Arabia to grow 0.2% in 2019, down from the prior estimate of 1.9%, amid oil production cuts.

Wed, 16 Oct 2019 02:42:48 GMT

UnitedHealth expects profit above target

UnitedHealth provided upbeat expectations for 2020 profit, expecting the growth to be more than 13%, which would outpace current Wall Street forecast.

Wed, 16 Oct 2019 02:35:40 GMT

Whirlpool to close plant in Italy

Whirlpool announced that it would close the company's Naples plant on November 1, despite the attempt by Italy's government to maintain the site open.

Tue, 15 Oct 2019 19:50:01 GMT

Intel acquires Pivot Technology's software business

Intel Corp has signed a deal with Canada's Pivot Technology Solutions to acquire its software business Smart Edge, designed to run on Intel's chips, for $27M, the US chipmaker stated on Tuesday.

Tue, 15 Oct 2019 17:56:48 GMT

German regulator has no plans to exclude Huawei

On Tuesday, the German federal network regulator revealed its rules for the 5G mobile networks build-out and, unlike the United States, is not excluding China's Huawei Technologies.

Tue, 15 Oct 2019 16:45:11 GMT

Google rolls out new tech devices on Tuesday

On Tuesday, Alphabet's Google has announced its mid-tier Pixelbook Go laptop, designed for users on-the-go, at the price starting $649 and the wireless earbuds Pixel Buds worth $179.

Tue, 15 Oct 2019 15:43:05 GMT

Flipkart adds original shows to its video platform

Flipkart, Walmart's Indian division, is adding its original content to the company's newly created video service, Flipkart announced on Tuesday, amid competition with the rival Amazon.com-owned Prime Video.

Tue, 15 Oct 2019 15:20:11 GMT

Tesla to bring Powerwall home battery to Japan

Tesla Inc is set to launch installations of its home power batteries called Powerwall in Japan in spring 2020, the US electric battery and vehicle maker announced on Tuesday, marking its product debut in Asia.

Tue, 15 Oct 2019 13:45:13 GMT

OCTAL in need of adviser amid capital raising plans

OCTAL, the Omani plastics packaging producer, is seeking an adviser ahead of potential capital raising via an equity sale, according to a Reuters report seen on Tuesday.

Tue, 15 Oct 2019 13:39:48 GMT

Wirecard's shares drop over 20% on FT report

On Tuesday, Germany's Wirecard shares dropped more than 20%, after the Financial Times released a report alleging the company of impropriety, saying its accounting practices are indicating attempts to inflate profits and sales.

Tue, 15 Oct 2019 12:37:46 GMT

KKR consortium scraps Latitude IPO

KKR & Co's consortium has cancelled potentially the largest Australian IPO planned for this year, its Latitude Financial lender's listing, Reuters reported on Tuesday.

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