News

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Sat, 02 May 2020 10:36:44 GMT

IMF to give loan to Malawi

The International Monetary Fund (IMF) approved on Saturday a $91M credit for Malawi negate the deficit of balance of payments.

Sat, 02 May 2020 09:15:31 GMT

ABB CEO to present decentralisation plan

According to the Neue Zuercher Zeitung, Bjorn Rosengren, ABB's new CEO, is intended to decentralise the company to achieve more efficiency.

Sat, 02 May 2020 08:03:59 GMT

Tesla extends furlough

According to Tesla's internal email, the company is extending furlough for part of employees for another week.

Sat, 02 May 2020 06:53:18 GMT

Kazakh airlines restart regular domestic flights

On Friday, Kazakhstan's Air Astana made its first regular flight from Almaty to capital Nur-Sultan in over a month, after authorities relaxed lockdown rules.

Sat, 02 May 2020 05:47:16 GMT

Tencent acquires 5% stake in Afterpay

The Chinese tech giant Tencent Holdings has acquired a 5% share in Australia's buy-now-pay-later Afterpay Ltd. The Australian company announced on Friday.

Sat, 02 May 2020 04:43:56 GMT

US factory activity hits 11-year low

On Friday, the US Institute for Supply Management announced that the national manufacturing activity declined to a reading of 41.5, the lowest level since April 2009.

Sat, 02 May 2020 03:42:17 GMT

US seeks to protect electricity system from cyber attack

According to the US Energy Department, President Donald Trump has signed an executive order to protect the US power system from cyber attacks.

Sat, 02 May 2020 03:40:29 GMT

Germany to acquire 25.1% stake in Lufthansa

According to the Der Spiegel weekly paper, published on Friday, the German government is planning to buy a 25.1% stake in Lufthansa for 10 billion euros.

Fri, 01 May 2020 20:44:04 GMT

Trump's administration to focus on pro-growth measures

Larry Kudlow, the White House National Economic Council Director, stated on Friday that the US government would focus on future growth incentives.

Fri, 01 May 2020 20:06:10 GMT

Canada forbids assault weapons

The Prime Minister of Canada Justin Trudeau stated on Saturday that the government banned acquisition of military-grade assault guns.

Fri, 01 May 2020 19:13:12 GMT

O2 and Virgin Media likely to merge

According to sources with the knowledge of the matter, Spain's Telefonica SA discusses with Liberty Global Plc possible merger of O2 with Virgin Media.

Fri, 01 May 2020 17:42:12 GMT

Siemens Gamesa takes over Ria Blades

Siemens Gamesa has acquired Ria Blades, a company that operates the production plant that makes on-shore wind turbine blades in Vagos, Portugal.

Fri, 01 May 2020 16:45:45 GMT

Tesla trims price for Chinese Model 3 vehicles by 10%

On Friday, the American electric car maker Tesla announced it had slashed the initial price for its China-made Model 3 cars by 10%, as it seeks to qualify for China's subsidies.

Fri, 01 May 2020 15:57:41 GMT

Origin Energy to acquire 20% stake in Octopus Energy

Origin Energy, Australia's top gas and power retailer, agreed to acquire a 20% stake in Britain's retailer Octopus Energy in a deal valued at A$507M, which grants it an exclusive license for using Octopus Energy's technology.

Fri, 01 May 2020 15:27:10 GMT

Amazon prolongs remote work till October 2

Amazon.com has extended work from home for part of its staff, whose work can be still done remotely, until at least October 2, a spokesman for the company stated on Friday.

Fri, 01 May 2020 14:22:13 GMT

Wall Street falls on Trump's new China tariffs

On Friday, US stocks slip at open after the President Donald Trump had threatened to impose new tariffs on China amid the COVID-19 virus-related crisis, while Amazon and Apple joined other firms to warn about uncertain future.

Fri, 01 May 2020 13:26:51 GMT

Aer Lingus likely to fire 20% of staff

According to sources familiar with the matter, Irish air carrier Aer Lingus plans to cut 20% of its workforce because of the pandemic.

Fri, 01 May 2020 12:34:33 GMT

Oil raises close to $27

Crude oil prices rose 4.4% or 83 cents on Saturday, reaching $19.67 per barrel as world major oil producers started record production cut.

Fri, 01 May 2020 11:33:50 GMT

Yuan falls amid Trump's threat

Chinese Yuan fell against the US Dollar on Friday evening as Donald Trump threatened to impose new tariffs on Chinese goods.

Fri, 01 May 2020 10:21:42 GMT

Germany to buy part of Lufthansa

According to the Der Spiegel, the German government is considering to take a 25.1% stake in Lufthansa for $10.98B.

Fri, 01 May 2020 08:44:40 GMT

Ford seeks reviving US car plants

Ford Motor is seeking to convince the UAW union's leaders to restart its operations at the carmaker's most profitable plants in the US, taking a similar step made by Fiat Chrysler and General Motors.

Fri, 01 May 2020 08:21:32 GMT

Macy's to reopen 68 stores in US

Macy's is planning to reopen 68 stores in the United States on Monday, as the coronavirus lockdowns ease in some of the states, according to the department store operator's statement.

Fri, 01 May 2020 07:16:14 GMT

Elliott further cuts its TIM stake

Elliott Management, the US hedge fund, has further reduced its stake in the Italian largest phone company Telecom Italia due to an ongoing rebalancing of its portfolio amid the coronavirus crisis.

Fri, 01 May 2020 06:21:28 GMT

WarnerMedia to control AT&T's ad unit Xandr

AT&T Inc is planning to bring Xandr, its advertising unit, under the WarnerMedia label, right ahead of the streaming channel called "HBO Max" launch in May.

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