News

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Fri, 22 Jan 2021 06:20:59 GMT

Ford to recall 3M cars amid airbag issue

Ford Motor Co announced that it will recall 3M cars for airbag inflators, which could rupture, at a $610M cost.

Fri, 22 Jan 2021 05:22:37 GMT

BMW plans higher margin while investing in EV

BMW's Finance Chief stated that the company plans to return to pre-pandemic operating margin goal, while big investments in EVs mean it will have to simplify its car portfolio.

Fri, 22 Jan 2021 04:27:03 GMT

Volkswagen fined for missing emission targets

Volkswagen faced a more than €100M fine for missing EU targets on CO2 emissions from the company's 2020 passenger vehicle fleet, the carmaker stated.

Thu, 21 Jan 2021 21:45:01 GMT

IBM's quarterly profit up on cloud power

International Business Machines beat forecasts for quarterly profit, which grew 10% to a record $7.5B, thanks to strong demand for cloud business.

Thu, 21 Jan 2021 21:01:37 GMT

KLM to cut 1,000 jobs

KLM plans to cut an additional 1,000 jobs this year after cutting 5,000 jobs the previous year, a report published by the company shows.

Thu, 21 Jan 2021 20:01:12 GMT

China economy to expand rapidly in 2021

The economy of China is expected to expand more than 7% in 2021 after a modest growth in 2020, a report published by the Swiss bank Credit Suisse shows.

Thu, 21 Jan 2021 19:05:31 GMT

Bank of Canada keeps key rate unchanged

The Bank of Canada decided to keep the key interest rate unchanged at 0.25% amid uncertain economic conditions, a statement published by the bank shows.

Thu, 21 Jan 2021 17:52:58 GMT

Uruguay economy to contract in 2020

The economy of Uruguay is expected to contract 5.5% in 2020 and to rapidly recover in 2021, a report published by the Central Bank of Uruguay shows.

Thu, 21 Jan 2021 17:32:11 GMT

Australia unemployment declines

The unemployment rate in Australia declined to 6.6% in December from 6.8% in November, a report published by the Australian Bureau of Statistics shows.

Thu, 21 Jan 2021 16:32:16 GMT

Uzbekistan trade turnover declines in 2020

Foreign trade turnover of Uzbekistan declined 13.1% to $36.3B in 2020, compared to the previous year, data published by the Uzbek State Statistics Committee show.

Thu, 21 Jan 2021 15:22:18 GMT

Ant's Malaysian e-wallet unit considers raising $150M

Malaysia's e-wallet venture owned by Ant Group and CIMB Group has entered advanced negotiations with investors to attract at least $150M for funding expansion plans, Reuters reported on Thursday.

Thu, 21 Jan 2021 14:36:28 GMT

Deutsche Telekom ties up with Cellnex

Deutsche Telekom, the German telecoms group, has tied up with Cellnex, Spain's phone mast operator, as two companies seek to combine their tower businesses in the Netherlands.

Thu, 21 Jan 2021 12:52:23 GMT

BlackRock adds bitcoin futures as eligible investment

On Thursday, BlackRock announced it would add bitcoin futures as the eligible investment to two funds, amid the asset manager's intention to offer its clients the access to the cryptocurrency world.

Thu, 21 Jan 2021 12:30:05 GMT

Global stocks rack up record highs

On Thursday, global stocks racked up their record highs and the US dollar dropped, as investors got major stimulus from the new US President Joe Biden, Reuters reported.

Thu, 21 Jan 2021 11:37:27 GMT

UK's IG to acquire tastytrade for $1B

Britain's IG announced on Thursday it was planning to acquire tastytrade, the US trading platform, in a $1.0B deal.

Thu, 21 Jan 2021 10:11:44 GMT

Nuveen sells out of blacklisted China firms

TIAA's asset management unit worth $1.1 trillion, Nuveen, exited Chinese companies that had been affected by the US investment ban, including such companies as Xiaomi Corp and China Telecom.

Thu, 21 Jan 2021 09:11:48 GMT

US to re-join global climate accord

The US President Joe Biden announced the United States would return to the global Paris Agreement to battle climate change amid a review of the ex-President Donald Trump's actions.

Thu, 21 Jan 2021 08:19:50 GMT

P&G raises annual sales forecast again

Procter & Gamble boosted its full-year sales estimates for the second time, benefiting from higher demand for the company's cleaning products, driven by the coronavirus pandemic.

Thu, 21 Jan 2021 06:49:22 GMT

China considers severe antitrust rules

The central bank of China is planning tougher antitrust rules for the non-bank payments industry's companies, such as Tencent's WeChat Pay and Ant Group's Alipay.

Thu, 21 Jan 2021 05:45:51 GMT

Mercedes reveals electric compact SUV

Mercedes-Benz has revealed its new electric compact sports utility vehicle, the EQA, as the German carmaker seeks to take on its competitor Tesla, as well as meet emission-free targets in China and Europe.

Thu, 21 Jan 2021 05:08:10 GMT

United Airlines plans more annual cost cuts

United Airlines Holdings reported it is planning to trim about $2B of its annual costs by 2023 following the pandemic-driven fourth consecutive quarterly loss.

Thu, 21 Jan 2021 03:52:55 GMT

Morgan Stanley boosts operating targets

Morgan Stanley boosted its long and short-term operating targets, as the coronavirus-caused volatility in the financial markets resulted in the bank's quarterly profit to be above estimates.

Thu, 21 Jan 2021 00:33:49 GMT

Kinder Morgan tops quarterly forecasts

Kinder Morgan, the pipeline operator, topped Wall Street's outlook for quarterly results, reporting its revenue surged to $3.12B, above the forecast of $3.05B.

Wed, 20 Jan 2021 20:43:19 GMT

IAG acquires Air Europa for €500M

British Airways and Iberia owner IAG agreed to purchase Spain's Air Europa for €500M, after the price was cut in half in the pandemic.

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