News

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Mon, 04 May 2020 20:52:32 GMT

US retail sector saves money

On Monday, it was revealed by Reuters that investments into US money markets have been increasing throughout April despite a rebound in stock prices.

Mon, 04 May 2020 19:42:47 GMT

Uber's Careem cuts 31% of staff

On Monday, Uber Technologies' Careem unit said it had trimmed 536 job positions this week, representing as much as 31% of the company's workforce.

Mon, 04 May 2020 18:41:23 GMT

Xiaomi to launch e-commerce service in India

China's smartphone maker Xiaomi announced on Monday it would launch a new e-commerce service in India as soon as this week, seeking to boost sales during the lockdown, with the majority of customers being stuck at home.

Mon, 04 May 2020 17:43:33 GMT

Ferrari joins carmakers hit by coronavirus

On Monday, the luxury sports automaker Ferrari stated it had trimmed this year's core profit forecast amid disruption caused by the COVID-19 pandemic, adding the crisis would mainly hit its Q2 results.

Mon, 04 May 2020 16:42:35 GMT

Apple rolls out new MacBook Pro

Apple has launched a new version of MacBook Pro on Monday, saying the updated model has modified keyboards after the laptop line faced criticism over typing-related issues, while also said about more storage and boosted performance.

Mon, 04 May 2020 16:00:42 GMT

VW's Skoda braces for Q2 hit after plunging earnings

Volkswagen-owned Czech automaker Skoda Auto reported on Monday a 25% fall in its Q1 operating profit, adding it expects the biggest hit to come in the next quarter, blaming the coronavirus outbreak.

Mon, 04 May 2020 15:32:41 GMT

Lufthansa board sees securing government bailout

Lufthansa is hopeful to secure the bailout soon, after concluding talks with Germany's government, the airline informed staff in its official letter, adding that the company is also exploring such alternatives as creditor protection.

Mon, 04 May 2020 14:25:16 GMT

GE to trim aviation workforce by 25%

On Monday, General Electric announced its plans to slash its global aviation workforce by 25% in 2020, including involuntary and voluntary layoffs amid business disruptions triggered by the coronavirus pandemic.

Mon, 04 May 2020 13:29:30 GMT

Telefonica's shares surge

The value of shares of Spanish Telefonica increased on Monday as the company confirmed the ongoing talks with Liberty Global over possible merger of their subsidiaries in the UK.

Mon, 04 May 2020 12:30:10 GMT

J. Crew files for bankruptcy

On Monday, The US retailer J. Crew Group filed for bankruptcy because of the coronavirus pandemic that foced the group to close its stores.

Mon, 04 May 2020 11:16:42 GMT

Norwegian Air to implement rescue plan

On Monday, Norwegian Air shareholders voted for the company's survival plan that aimed that conver nearly $1B debt into equity.

Mon, 04 May 2020 10:28:10 GMT

Japan extends lockdown until May 31

The Japanese Prime Minister Shinzo Abe announced on Monday that the state of emergency would be prolonged to the end of May.

Mon, 04 May 2020 09:00:51 GMT

Intel in advanced talks to acquire Moovit

According to the Calcalist report, published on Sunday, the US chipmaker Intel is in advanced negotiations to purchase Israel's Moovit public transit app for $1B.

Mon, 04 May 2020 07:57:50 GMT

South Korea to further ease social distancing rules

South Korea would relax the physical distancing rules starting from May 6 and allow businesses to resume at facilities that had remained closed. The PM of South Korea Chung Sye-Kyun stated on Sunday.

Mon, 04 May 2020 06:55:43 GMT

Delek Group reports Q4 loss

On Sunday, Delek Group Ltd, the Israeli largest energy company, reported $89 million loss in the fourth quarter of 2019.

Mon, 04 May 2020 06:20:30 GMT

Masondo calls on South African Reserve Bank to print money

On Sunday, David Masondo, South Africa's Deputy Minister of Finance, called on the South African Central Bank to print money to fund the government fight against the coronavirus crisis.

Mon, 04 May 2020 05:36:22 GMT

Oil goes down amid US-China rivalry

Crude oil prices dropped $1.14 or 5.8% on Monday morning, reaching $18.10 a barrel, amid decreasing global demand and US-China tensions.

Mon, 04 May 2020 04:37:41 GMT

Silver Lake to invest $750M in Reliance's unit

The US Private Equity company Silver Lake said on Monday that it would invest $750M in India's Reliance Industries Ltd digital arm.

Mon, 04 May 2020 03:02:10 GMT

Al-Saeed says Egypt growth could slow to 2% in 2020-21

On Sunday, Hala al-Saeed, Egypt's Planning Minister, said that Egypt economic growth could fall to 2% in 2020-21 if the COVID-19 pandemic continues until December.

Sun, 03 May 2020 21:12:26 GMT

Thyssenkrupp expects COVID-19 crisis to cause financial squeeze

The German multinational conglomerate ThyssenKrupp AG expects a new cash squeeze due to the coronavirus pandemic.

Sun, 03 May 2020 20:28:10 GMT

MCM to resume mining in Zambia

Glencore's subsidiary Mopani Copper Mines (MCM) in Zambia stated on Sunday that it would resume mining for three next months.

Sun, 03 May 2020 19:33:31 GMT

Greece expects notable economy growth drop

The Finance Ministry of Greece stated on Sunday that the country's economy is likely to shirnk from 4.7% to 8.9% this year because of the coronavirus pandemic.

Sun, 03 May 2020 18:20:23 GMT

UK, France to test tracking system

According to the British and French government, both countries plan to test coronavirus tracking applications next week.

Sun, 03 May 2020 16:57:17 GMT

Delek Group Q4 loss widens

On Sunday, Delek Group Ltd, the Israeli largest energy company, said that it lost $89 million in the fourth quarter of 2019.

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