News

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Thu, 13 Feb 2020 11:49:16 GMT

Nissan cuts profit outlook due to sales slump

On Thursday, Nissan Motor Co slashed its annual operating profit outlook by 43%, hit by a drop in car sales and a scandal involving Carlos Ghosn.

Thu, 13 Feb 2020 10:37:01 GMT

Google completes Looker buyout deal

On Thursday, Alphabet's Google announced it had completed its $2.6B buyout of Looker Data Sciences, the privately-held big-data analytics company, after receiving approval from UK's competition watchdog.

Thu, 13 Feb 2020 09:37:36 GMT

Cisco results slightly beat estimates

Cisco Systems' revenue grew 9% to $748M in the Q2, slightly above estimates, as growth in the company's cyber-security unit offset weakness in routers and switches business.

Thu, 13 Feb 2020 08:30:18 GMT

MWC in Barcelona cancelled amid coronavirus

The Mobile World Congress, the annual telecoms industry meeting, which lures over 100K visitors to Barcelona, was called off this Wednesday, following a mass exodus by MWC's exhibitors over the coronavirus fears.

Thu, 13 Feb 2020 07:37:25 GMT

Credit Suisse reports best profit in decade

On Thursday, Credit Suisse reported a 69% surge in its annual net profit, the best reading since 2010, in a swan song for the outgoing CEO Tidjane Thiam.

Thu, 13 Feb 2020 05:04:20 GMT

EZ industrial production falls more than expected

Euro zone's manufacturing production plunged more than anticipated 2.1% month-over-month in December, official estimates revealed.

Wed, 12 Feb 2020 22:13:04 GMT

Heineken expects solid profit growth

Heineken, the second biggest brewer, anticipated that lower aluminium and barley costs are likely to help to increase profits in 2020, when the long-serving CEO will step down.

Wed, 12 Feb 2020 20:45:03 GMT

WhatsApp users reach 2B

Facebook-owned WhatsApp announced that it amassed 2B users, becoming the second-largest social media platform after Facebook to hit that milestone.

Wed, 12 Feb 2020 19:41:23 GMT

Shopify''s shares hit record on strong sales forecast

Canada's e-commerce firm Shopify forecasts full-year revenue of more than $2.13B, above analysts' estimates, and better-than-anticipated quarterly earnings, sending shares to a record high.

Wed, 12 Feb 2020 18:49:52 GMT

Facebook partners with Reuters on fact-checking

Facebook announced that it reached a deal with Reuters, the news agency, aiming to fact-check content published on the platform and on its Instagram app.

Wed, 12 Feb 2020 17:49:59 GMT

Battery Ventures closes funding rounds totalling $2B

Battery Ventures, the venture capital firm focused on tech, raised $2B in two new funds, indicating investors' interest in start-ups in spite of high-profile stumbles, such as WeWork.

Wed, 12 Feb 2020 16:42:50 GMT

Dunelm set too top profit expectations

Dunelm, the UK home furnishings retailer, stated that its full-year pretax profit would exceed market expectations amid online sales growth in the H1, pushing overall sales 6% higher.

Wed, 12 Feb 2020 16:34:31 GMT

France's wine, spirits exports at record high

French spirits and wine exports grew 5.9% in a value to hit a record of €14B last year, as export companies booked sales before the US tariffs and Brexit, the FEVS said.

Wed, 12 Feb 2020 15:38:41 GMT

Blackstone, Carlyle offers $17.5B for Thyssenkrupp elevator

A consortium of CPPIB, Carlyle and Blackstone made a $17.5B offer for Thyssenkrupp's elevator unit, the highest among the private equity suitors, Reuters reported on Wednesday.

Wed, 12 Feb 2020 13:29:41 GMT

Microsoft appoints new head Israel development centre

On Wednesday, Microsoft Corp appointed Michal Braverman-Blumenstyk as a new general manager of the tech giant's Israel Development Centre.

Wed, 12 Feb 2020 12:01:57 GMT

Scotch whisky exports surge to record-high in 2019

The Scotch whisky exports' value surged to its record high in 2019, boosted by rising sales in India and Taiwan, which excluded concerns over the US tariffs and the Brexit uncertainty.

Wed, 12 Feb 2020 11:22:42 GMT

Russia's VTB competes 55% stake sale of Tele2 Russia

VTB, Russia's state lender, has completed its sale of the mobile phone firm Tele2 Russia 55% stake to Rostelecom, the state telecoms group, the companies announced on Wednesday.

Wed, 12 Feb 2020 10:33:16 GMT

U.S. stores, online sales boost Ahold's quarterly profit

On Wednesday, Ahold Delhaize reported a 3% surge in its Q4 core earnings, driven by its Hannaford US grocery and Food Lion chains as well as food retailer's strong online sales.

Wed, 12 Feb 2020 09:03:18 GMT

T-Mobile-Sprint merger deal gets approval from US judge

US federal judge has granted approval for the T-Mobile US and Sprint Corp merger, rejecting a claim filed by a states group that the proposed deal would raise prices and violate antitrust laws.

Wed, 12 Feb 2020 07:46:41 GMT

JPMorgan chosen as adviser for Turkish Motorway's stake sale

JPMorgan has been chosen as a stake sale adviser in the $7.3B Turkish motorway, Reuters reported on Wednesday.

Wed, 12 Feb 2020 07:35:18 GMT

Lyft sees slower revenue growth in 2020

Lyft Inc announced it is expecting slower growth in its 2020 revenue and would leave the company's target profit date unchanged.

Wed, 12 Feb 2020 06:13:58 GMT

Taiwan's Foxconn targets 50% China production

According to a source with direct knowledge of the matter, Foxconn, the world's largest contract electronics maker, plans to resume half of its production in China before the end of February.

Wed, 12 Feb 2020 05:03:03 GMT

Samsung unveils foldable smartphone

Samsung Electronics, the world's biggest smartphone maker, unveiled a new fordable smartphone, the Galaxy Z Flip on Tuesday.

Wed, 12 Feb 2020 04:02:17 GMT

Carney says more investment needed to boost UK economy

On Tuesday, the Governor of the Bank of England Mark Carney said that more investment is needed to boost Britain's economy growth.

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