News

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Fri, 26 Jul 2019 20:03:35 GMT

US economy misses Trump administration's 3% target

The US Commerce Department announced on Friday that the US GDP product increased at 2.9% in 2018, which missed the Trump administration's 3% target.

Fri, 26 Jul 2019 19:01:05 GMT

Italy hires Deloitte consulting firm as financial adviser

According to a source with knowledge of the matter, Italy has hired Deloitte consulting firm as its financial adviser to create five hundred-million-euro real estate fund, which will be called Dante.

Fri, 26 Jul 2019 18:15:58 GMT

Johnson tells Merkel EU must abolish Irish backstop

On Friday, the British Prime Minister Boris Johnson told Germany's Chancellor Angela Merkel that the European Union must abandon the Irish backstop if it wants Brexit deal.

Fri, 26 Jul 2019 17:01:47 GMT

Glen retains job as UK's Economic Secretary of Treasury

John Glen, the UK Economic Secretary to the Treasury, has retained his position after the new British Prime Minister Boris Johnson reshuffled ministerial roles.

Fri, 26 Jul 2019 16:03:04 GMT

Twitter shares surge by 10%

Twitter Inc shares edged higher by 10% on Friday, after the company announced a better than forecast Q2 earnings.

Fri, 26 Jul 2019 15:05:56 GMT

SocGen agrees to sell car leasing firm PEMA

France's Societe Generale has agreed to sell its trailer and truck rental firm PEMA to the infrastructure investment group I Squared Capital's division, as SocGen is moving towards its restructuring plan, which is aimed at selling the non-core assets.

Fri, 26 Jul 2019 13:44:13 GMT

Twitter beats earnings estimates

On Friday, Twitter In posted better than forecast second quarter earnings. The event caused a surge of five percent.

Fri, 26 Jul 2019 13:30:41 GMT

Huawei launches 5G phone, flags Hongmeng device

On Friday, Huawei Technologies has launched the first 5G smartphone in China, adding it would soon roll out smart TVs that are equipped with Huawei's Hongmeng operating system.

Fri, 26 Jul 2019 12:39:03 GMT

China's CATL to launch battery storage business

Contemporary Amperex Technology, the Chinese electric car battery maker, stated it would launch the battery storage business in Japan starting from 2020 under its alliance with the solar power firm Next Energy, as the company seeks to expand its footprint across the world.

Fri, 26 Jul 2019 11:38:18 GMT

US economy likely grows at slowest pace in Q2

The US economic growth likely expanded at the slowest pace in over two years in the Q2 as a speed-up in consumer spending had been potentially offset by weak business investment and exports.

Fri, 26 Jul 2019 10:25:31 GMT

Alibaba's chip unit unveils first core processor IP

Alibaba Group Holding's semiconductor division has launched the first core processor IP, as the Chinese e-commerce and tech giant continues its expansion into advanced technologies.

Fri, 26 Jul 2019 09:33:31 GMT

Renault trims revenue goal amid weaker car demand

Renault has reduced its revenue goal as te carmaker's profit for the year's first half was hit by declining demand in the car industry and the collapse of earnings at the alliance partner Nissan Motor on the back of the Carlos Ghosn row.

Fri, 26 Jul 2019 08:11:21 GMT

Sports Direct vows to release delayed results on Friday

The UK sporting goods retailer Sports Direct stated it was still finalising the already delayed results for the full year, expecting to release the report later on Friday.

Fri, 26 Jul 2019 06:41:58 GMT

Brazil's Petrobras gets over $100M via recovered assets

Brazil's Petrobras has received $112M this week through the recovered assets and leniency deals from the parties involved in Brazilian expanding corruption probe into Car Wash, the oil giant reported.

Fri, 26 Jul 2019 06:35:49 GMT

Berkshire Hathaway lifts stake in BoA

Berkshire Hathaway has increased its stake in the Bank of America on Thursday, raising its number of shares owned in the company from 950M as of July 17, according to a regulatory filing.

Fri, 26 Jul 2019 05:05:49 GMT

Bayer to pay $86M in damages

The California Superior Court ruled on Thursday that Bayer AG had to pay $86.7M in damages to a plaintiff for a cancer causing weed killer Roundup.

Fri, 26 Jul 2019 03:19:57 GMT

Apple pays $1B for Intel's unit

Apple took the main step towards supplying its own smartphone chips by buying the majority of Intel's modem business in a $1B deal, the companies announced.

Thu, 25 Jul 2019 19:43:55 GMT

Boeing reports largest-ever loss on 737 MAX jets

Boeing reported the biggest-ever quarterly loss, tumbled by the spiralling costs spent on resolving the 737 MAX jet issues, and warning the planemaker may have to halt the production of it completely, in case it faces new hurdles with regulators.

Thu, 25 Jul 2019 18:46:27 GMT

China's Wanda Sports trims US listing size

Dalian Wanda Group conglomerate's unit Wanda Sports Group has reduced the size of the US IPO to about $380M from its initial size of around $500M, lowering the price range to $9-$11 per ADS in comparison with the $12-$15 range that was stated previously.

Thu, 25 Jul 2019 18:05:31 GMT

Gazprom offered to sell its shares for $3.15B

On Thursday, the world's largest conventional gas producer Gazprom stated it received bids worth $3.15B to sell 3% of the company's own shares, which it was selling in the market.

Thu, 25 Jul 2019 17:02:18 GMT

Nike considers Hurley surfwear brand sale

The world's biggest sportswear maker Nike is considering options for its Hurley International surfwear brand, including its potential divestment, as such brands are losing their appeal within non-surfing consumers.

Thu, 25 Jul 2019 15:46:54 GMT

CAAM to trim 2019 sales estimates to 5% fall

China's largest car industry association reduced this year's sales estimates to a 5% drop YOY to 26.68M cars amid slowing economic growth, expecting sales to drop for another year running, CAAM stated on Thursday.

Thu, 25 Jul 2019 15:24:08 GMT

Nissan to trim 12.5K jobs amid crisis

Nissan Motor has revealed its biggest plan on restructuring in a decade, cutting 12.5K job positions globally and flagging potential plant shutdowns to control its costs that increased during Carlos Ghosn being a CEO.

Thu, 25 Jul 2019 14:04:10 GMT

Trump calls on House Republicans to support US spending deal

On Thursday, the US President Donald Trump called on the Republicans in the House of Representatives to vote for the US government spending plan, which consisted of a two-year deal aimed to expand the borrowing authority of the nation and fund the country's federal government.

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