News

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Sat, 15 May 2021 12:15:23 GMT

Speedway purchase likely to be illegal

According to the Federal Trade Commission, the finalization of Speedway acquistion by 7-Eleven most probably would breach the law.

Sat, 15 May 2021 10:48:27 GMT

Cairn Energy sues Air India

Cairn Energy filed a lawsuit against Air India to enforce an award worth $1.2B that it had won in the court of arbitration.

Sat, 15 May 2021 10:00:11 GMT

Washington experience gasoline shortage

On Friday, many gasoline stations in Washington ran out of gasoline despite the recovery of Colonial Pipeline.

Sat, 15 May 2021 09:00:07 GMT

White House comments tax hike

According to the White House analytics, the proposed by the administration tax increase would concern not more than 3% of small businesses.

Sat, 15 May 2021 08:00:11 GMT

US business inventories rise

US business inventories increased 0.3% in March from the previous month, a report published by the US Department of Commerce shows.

Sat, 15 May 2021 07:30:23 GMT

US retail sales stall

US retail sales stalled in April after an increase of 10.7% in March, data published by the US Commerce Department show.

Fri, 14 May 2021 20:00:08 GMT

Chip shortage to cost carmakers $110B in revenues

On Friday, consulting company AlixPartners announced that the semiconductor chip shortage would cost carmakers $110B in lost revenues in 2021.

Fri, 14 May 2021 19:00:09 GMT

GFG to cooperate with UK's SFO investigation

On Friday, Sanjeev Gupta's commodities empire GFG announced that it would fully cooperate with Britain's Serious Fraud Office fraud investigation.

Fri, 14 May 2021 18:00:08 GMT

Fisker signs deal with Foxconn to build EVs

Fisker Inc has signed an agreement with Foxconn Technology to manufacture EVs in the United States starting in 2023, both firms announced on Thursday.

Fri, 14 May 2021 17:00:07 GMT

UK's SFO launches investigation into Gupta's GFG

The UK's Serious Fraud Office has opened an investigation into suspected fraud, money laundering and fraudulent trading at Sanjeev Gupta's metal empire.

Fri, 14 May 2021 16:00:08 GMT

Orange to fire 485 employees in Spain

Orange will fire about 485 employees in Spain in the coming weeks, the French telecommunications operator announced on Friday.

Fri, 14 May 2021 15:00:06 GMT

US retail sales stalled in April

As reported by the US Commerce Department on Friday, US retails sales were unchanged last month.

Fri, 14 May 2021 13:41:57 GMT

Chip deficit to cost carmakers $110B in revenues

The semiconductor chip shortage that hit the carmakers around the world will cost them $110B in lost revenues in 2021, topping the previous forecast of $61B, with an outlook the crisis is likely to hit the output of 3.9M vehicles.

Fri, 14 May 2021 13:13:46 GMT

Foxconn eyes Q2 revenue jump

On Friday, Taiwan's Foxconn said it was anticipating a 15% surge in its Q2 revenue amid extension of the remote work boom caused by the coronavirus pandemic that drove the consumer devices demand.

Fri, 14 May 2021 12:00:09 GMT

UK SFO searches in Gupta's GFG Alliance

The UK's Serious Fraud Office has launched an investigation into suspected fraud, money laundering and fraudulent trading at the GFG Alliance conglomerate, the steel magnate, including its financing accords with the collapsed Greensill Capital.

Fri, 14 May 2021 10:55:44 GMT

Amazon to add 10K new jobs in UK

Amazon is planning to create 10K new permanent job positions in Britain this year, taking the company's total UK workforce to over 55K, it stated on Friday.

Fri, 14 May 2021 10:00:12 GMT

Stock indices recover

During Friday's European trading hours, stock indices around the world recovered, as the Federal Reserve had calmed down inflation fears.

Fri, 14 May 2021 09:00:06 GMT

Tesla discusses battery supply deal

Tesla has entered talks with EVE Energy, the Chinese battery maker, to add the company to its factory supply chain in Shanghai, as Tesla seeks to bolster the lower-cost batteries procurement.

Fri, 14 May 2021 07:51:54 GMT

Toshiba sees 63% annual profit jump

On Friday, Japan's Toshiba said it expected a 63% surge in its annual operating profit as pandemic and restructuring measures yielded results.

Fri, 14 May 2021 07:00:10 GMT

Fisker completes deal with Foxconn

The electric carmaker Fisker and Foxconn Technology have finalised their vehicle-assembly deal, including plans to establish a US factory in 2023, both companies said earlier this week.

Fri, 14 May 2021 06:00:29 GMT

Disney posts mixed results

Walt Disney said its streaming growth missed Wall Street expectations following robust consumer demand during the start of the pandemic, but reported its quarterly profit above estimates.

Fri, 14 May 2021 05:00:08 GMT

Google to provide cloud services to SpaceX

Google announced it had won a deal for providing its cloud services to SpaceX, which launched the Starlink satellites to ensure high-speed internet.

Fri, 14 May 2021 04:00:07 GMT

Amazon to employ 75K workers

Amazon.com is planning to hire 75K new workers, offering $100 extra for the COVID-19 vaccination proof, as the world's biggest e-commerce retailer seeks more employees for logistics operations.

Fri, 14 May 2021 03:00:10 GMT

Hyundai plans $7.4B US investment

Hyundai Motor Group is planning a further US investment worth $7.4B by 2025 to manufacture electric vehicles, upgrade output facilities as well as invest more in smart mobility solutions.

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