News

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Fri, 31 Jul 2020 19:41:50 GMT

EV maker Xpeng attracts another $300M

China's EV maker Xpeng Motors raised an extra $300M from its investors, including the Qatari sovereign wealth fund, Reuters reported on Friday.

Fri, 31 Jul 2020 18:42:15 GMT

Dish picks VMware for 5G network

Dish Network, the US satellite TV provider, announced on Friday that it had chosen the telco cloud platform made by software developer VMware to build its 5G wireless network.

Fri, 31 Jul 2020 17:41:38 GMT

IAG to attract $3.3B for COVID recovery

IAG, the owner of British Airways, is planning to raise $3.27B from shareholders for its financial recovery from the coronavirus crisis, its CEO Willie Walsh said on Friday.

Fri, 31 Jul 2020 16:46:37 GMT

Apple shares hit record high on Friday

On Friday, Apple's shares skyrocketed 7.1% to their record high of $412, boosted by strong quarterly results and making the iPhone maker the world's biggest public company.

Fri, 31 Jul 2020 15:57:24 GMT

Caterpillar shares decline on Q3 outlook

Caterpillar Inc. shares dropped 4% on Friday after the corporation published its conservative outlook on Q3 sales, the retail sales stepped down 23% in Q2 due to the pandemic-induced turbulences.

Fri, 31 Jul 2020 15:35:41 GMT

US personal consumption expenditure increases

The US Commerce Department stated on Friday that consumer spending had increased consequently in May and June, although the future growth is endangered by a recent rise in the coronavirus cases.

Fri, 31 Jul 2020 13:48:44 GMT

FCA reports lower-than-expected Q2 operating loss

Fiat Chrysler reported a lower-than-anticipated operating loss of €928B in its Q2, instead of the expected €1.87B loss, as the carmaker managed to contain some negative effects caused by the COVID-19 pandemic.

Fri, 31 Jul 2020 12:51:56 GMT

ByteDance explores China business's IPO

ByteDance, the Chinese tech giant and TikTok owner, is exploring an initial public offering of its local business in Shanghai or Hong Kong, Reuters reported on Friday.

Fri, 31 Jul 2020 11:44:03 GMT

L'Oreal sales rise in July

L'Oreal's CEO Jean-Paul Agon reported the company's sales climbed in July, their first surge since January 2020, sending the shares up 1.3% on the results.

Fri, 31 Jul 2020 11:03:06 GMT

Berkshire lifts stake in BoA to 11.8%

Warren Buffett-owned Berkshire Hathaway has acquired another $522M worth stock of Bank of America, lifting its already big stake in the second-biggest US bank by assets to 11.8%.

Fri, 31 Jul 2020 10:32:48 GMT

Amazon hits record-high in profit

Amazon.com reported its largest profit in the retailer's 26-year history on a major surge in its online sales and the lucrative business backing the third-party merchants during the coronavirus lockdowns.

Fri, 31 Jul 2020 08:51:39 GMT

Crude oil prices surge

Crude oil prices edged higher on Friday, the Brent crude futures were up by 1%, at $43.35 per barrel at 07.02 GMT, while the US crude gained 43 cents, or 1.1%, to $40.35.

Fri, 31 Jul 2020 07:56:24 GMT

Trump raises idea of delaying US elections

On Thursday, the US President Donald Trump openly floated the idea of delaying the US general elections in November.

Fri, 31 Jul 2020 07:03:11 GMT

MasterCard quarterly profit beats analyst estimates

MasterCard's shares surged by 1.41% in premarket trading on Thursday, after the company announced a better-than-expected quarterly profit.

Fri, 31 Jul 2020 05:59:12 GMT

Boeing cuts production of twin-engine jets

Boeing Co announced it would cut the production of 787 Dreamliner twin-engine jets to six per month in 2021.

Fri, 31 Jul 2020 05:15:01 GMT

Exxon plans job and spending cuts

According to sources with knowledge of the matter, Exxon Mobil is planning a deep job and spending cuts.

Fri, 31 Jul 2020 03:56:18 GMT

Kellogg increases annual profit forecast

Kellogg's shares rose as much as 2.6% on Thursday to hit an over 21-month high, after the company increased its yearly profit and sales forecast.

Fri, 31 Jul 2020 02:54:08 GMT

Germany's economy declines in Q2

According to the Federal Statistics Office, the German gross domestic product declined by 10.1% in the second quarter.

Fri, 31 Jul 2020 01:48:27 GMT

US economy declines in Q2

According to the US Commerce Department, the US gross domestic product contracted at a 32.9% annualized rate in Q2, the deepest decline since 1947.

Thu, 30 Jul 2020 20:00:59 GMT

Vietnamese economy to grow 2.8% in 2020

The Vietnamese economy is expected to grow 2.8% in 2020 and 6.8% in 2021, a forecast published by the World Bank shows.

Thu, 30 Jul 2020 19:00:40 GMT

Panasonic reports $93.5M loss

Panasonic reported a net loss of $93.56M in the second quarter of 2020 amid the coronavirus pandemic, a financial report published by the company shows.

Thu, 30 Jul 2020 18:24:08 GMT

French economy to perform better than planned

The French economy is expected to perform better than previously expected, a statement published by the Bank of France Governor Villeroy de Galhau shows.

Thu, 30 Jul 2020 16:56:17 GMT

UK car production plunges

The British car production sector contracted 42.8% in the first six months of 2020, compared to the same period in 2019, the Society of Motor Manufacturers and Traders reports.

Thu, 30 Jul 2020 16:27:55 GMT

UK Lloyds Banking Group reports $782M loss

The Lloyds Banking Group reported a pre-tax loss of $782M in the first six months of 2020 amid the coronavirus pandemic, a statement published by the company shows.

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