News

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Thu, 08 Oct 2020 06:32:23 GMT

EasyJet to report $1.0B annual loss

The UK airline easyJet will release a report of more than $1.0B loss in the last financial year caused by the coronavirus pandemic, adding the carrier continues to review finances due to travel remaining subdued.

Thu, 08 Oct 2020 04:41:27 GMT

Lithuania blocks EU funding to Belarus

Lithuania blocked €5.8M in payments to Belarus for a cross-border development programme funded by the EU, fearing the funds could be misused, the Lithuanian government stated.

Thu, 08 Oct 2020 04:32:37 GMT

Sachem Head takes $1.2B stake in Elanco

Sachem Head announced that it took a $1.2B stake in Elanco and plans to make changes at the medicine's maker.

Thu, 08 Oct 2020 03:29:02 GMT

Miniso Group to get up to $562.4M in IPO

Tencent-backed retailer Miniso Group Holding was looking to raise up to $562.4M in its IPO in the US, a regulatory filing revealed.

Wed, 07 Oct 2020 21:05:27 GMT

TCS considers up to $2.18B buyback

Tata Consultancy Services said that it is considering a buyback of shares worth up to $2.18B, as legal fees related to the US lawsuit hit profit.

Wed, 07 Oct 2020 19:46:37 GMT

World Bank comments on poverty

The World Bank announced on Wednesday that almost 150 million could be pushed into extreme poverty due to the coronavirus.

Wed, 07 Oct 2020 19:00:01 GMT

Tesla's memo is leaked

On Wednesday, a memo from Tesla was leaked. The memo revealed that the company could produce a total of half a million cars in 2020.

Wed, 07 Oct 2020 17:44:06 GMT

Takeaway.com's Grubhub purchase gets approval

On Wednesday, Just Eat Takeaway.com shareholders have granted their approval for the proposed $7.3B worth acquisition of the American rival GrubHub.

Wed, 07 Oct 2020 16:43:28 GMT

Gazprom faces $7.6B fine over Nord Stream 2

Russia's Gazprom is facing a fine worth over $7.6B from Polish regulator for its gas pipeline "Nord Stream 2" building without the approval of Warsaw, it reported on Wednesday.

Wed, 07 Oct 2020 16:10:53 GMT

New Tesco head backs current strategy

The new boss of the UK largest retailer by sales Tesco decided to stick with his predecessor's strategy, despite a fall in the company's H1 core profit amid losses caused by the pandemic.

Wed, 07 Oct 2020 14:59:15 GMT

Wells Fargo trims jobs amid cost-cutting drive

On Wednesday, Wells Fargo stated it was cutting jobs at the commercial banking division amid its larger reductions, which would affect the majority of its business lines and functions.

Wed, 07 Oct 2020 13:41:03 GMT

VW eyes 90% EV sales in Norway

Volkswagen is expecting 90% electric vehicles sales next year in Norway, adding that EVs could completely replace petrol and diesel engines in the country by 2023.

Wed, 07 Oct 2020 12:48:46 GMT

Samsung's Q3 profit seen rising 35%

Samsung Electronics's Q3 profit likely surged as much as 35%, driven by robust smartphone sales as well as a rush memory chips order from Huawei Technologies.

Wed, 07 Oct 2020 12:36:53 GMT

Adidas names new head of HR

Adidas has named ex-BNP Paribas executive Amanda Rajkuma as a new human resources head following employee complaints about racism at Germany's sportswear giant that caused the leave of Karen Parkin.

Wed, 07 Oct 2020 11:35:04 GMT

Daimler to reduce fixed costs

Germany's carmaker Daimler is set to trim fixed costs, R&D and capex expenditure at its Mercedes-Benz brand by over 20% by 2025 amid its intention to take its unit further upmarket.

Wed, 07 Oct 2020 09:42:40 GMT

Japan's government asks for record funding

On Wednesday, the Finance Ministry of japan revealed that the new government has requested a $997 initial budget for the next year.

Wed, 07 Oct 2020 08:49:51 GMT

Apple plans special event on Oct. 13

Apple is planning to hold its special event next week, October 13, that would likely reveal the company's new iPhone devices with 5G capabilities.

Wed, 07 Oct 2020 08:11:21 GMT

US judge sets Nov. 4 for TikTok ban hearing

US judge is set to hold a hearing on November 4 on the potential banning of transactions with TikTok by the US government.

Wed, 07 Oct 2020 06:45:38 GMT

Sharp inks licensing agreement with Daimler

On Wednesday, Japan's Sharp stated it had signed a licensing deal with Daimler after its patent infringement lawsuit settlement against Germany's carmaker regarding the mobile communications technology.

Wed, 07 Oct 2020 05:57:04 GMT

US Congress to extend $25B bailout for US airlines

The US President Donald Trump stated late on Tuesday that Congress should provide $25B in payroll assistance to American passenger airlines furloughing employees as air travel keeps struggling from the coronavirus crisis.

Wed, 07 Oct 2020 05:02:17 GMT

AA delays 737 MAX training for pilots

As reported by the Allied Pilots Association, American Airlines has suspended plans to commence Boeing 737 MAX pilots training.

Wed, 07 Oct 2020 03:54:56 GMT

UK's authority to ban crypto-assets products

On Tuesday, the UK Financial Conduct Authority said that it would ban crypto-assets products for retail investors.

Wed, 07 Oct 2020 02:51:46 GMT

Northern Cyprus to reopen Varosha beach

On Tuesday, the Prime Minister of Northern Cyprus Ersin Tatar announced that the Varosha beach resort would be reopened on October 8.

Wed, 07 Oct 2020 01:38:36 GMT

Boeing cuts forecast for airplane demand

Boeing's shares fell as much as 3.3% on Tuesday after the US planemaker cut its airplane demand forecast for the next 20 years.

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