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Global Economy

3 March 12:43 PM Samsung considers four sites in US for $17bn chip plant
Samsung Electronics Co is considering two sites in Arizona and two others in New York and Texas’ Austin for a new $17 billion chip plant.
2 March 03:05 PM Target earnings exceed estimates as sales grow 21%
Earnings of Target surpassed Wall Street’s estimates, as its sales were boosted by a strong holiday season and stimulus checks.
25 February 03:51 PM Airline industry to remain cash negative in 2021 - IATA
The airline industry is forecast to continue witnessing negative cash flow in 2021 due to COVID-19.
25 February 02:59 PM EU leaders meet to accelerate vaccine production, rollout
European Union leaders will meet to try to accelerate the production and rollout of COVID-19 vaccines in a race against the emergence of new variants.
23 February 02:38 PM HSBC annual profit beats estimates
HSBC reported full-year earnings for 2020 that exceeded expectations and announced a dividend payout for the first time since the Covid-19 pandemic.
22 February 05:20 PM Dozens of Boeing 777 jets grounded after Denver incident
Mubasher: Airlines in the US, South Korea, and Japan have grounded dozens of Boeing 777 airplanes after a United Airlines plane suffered engine failure.
18 February 03:17 PM Airbus announces EUR 1.133bn losses in 2020
Airbus announced consolidated net losses of EUR 1.133 billion in 2020, compared to EUR 1.362 billion in 2019.
18 February 12:37 PM Barclays sees 38% lower annual earnings, resumes dividend payouts
Barclays logged a profit of £1.53 billion ($2.11 billion) in 2020, down by 38% from 2019.
18 February 11:41 AM Credit Suisse moves to fourth-quarter loss
Credit Suisse turned to a better-than-expected loss in last year’s fourth quarter (Q4), driven by higher provisions for legal disputes.
17 February 02:08 PM Ford targets all-electric car lineup in Europe by 2030
Ford Motor Co will invest $1 billion in converting its vehicle production facility in Cologne, Germany.
17 February 01:49 PM Maersk to launch world's first carbon-neutral liner vessel in 2023
Maersk will accelerate plans to decarbonise sea-borne container shipping by putting the world’s first carbon-neutral vessel into operation in 2023.
14 February 02:21 PM Oxford University to test Covid-19 vaccine response among children
The University of Oxford launched a study to assess the safety and immune response of the Oxford/AstraZeneca vaccine in children for the first time.
10 February 01:58 PM Global trade's recovery expected to slow down in Q1-21
The recovery in global trade is expected to slow down again during Q1-2021.
10 February 01:43 PM Maersk helped by trade recovery, but misses expectations
A hike in demand for goods from locked-down consumers has sparked a jump in shipping rates, boosting Maersk’s profits.
9 February 12:26 PM Total records 66% lower profits in 2020 due to COVID-19
The net profits of France's Total plunged by 66% to $4.059 billion in 2020, compared to $11.828 billion in 2019.
8 February 04:36 PM Amazon to purchase power from wind farm in the Netherlands
Amazon will purchase more than half of the energy produced by a new offshore wind farm in the Netherlands.
8 February 12:26 PM SoftBank Group sees higher third-quarter profit
The net profits SoftBank Group Corp surged to 3.055 billion yen in the nine months ended on 31 December 2020.
4 February 04:54 PM Shell's profits down 71% in 2020; dividends raised
The net profits of Royal Dutch Shell plunged by 71% year-on-year (YoY) to $4.8bn in 2020.
25 January 03:32 PM Boohoo acquires Debenhams for GBP 55m; all shops to close
Boohoo Group has inked an agreement to acquire the Debenhams brands and websites in exchange for £55m.
24 January 12:20 PM Revenue at Trump’s D.C. hotel down 62% in 2020
The revenue fell as the pandemic ravaged hospitality properties around the world.
24 January 11:19 AM HSBC tops M&A financial advisers by value in power sector
HSBC and Ernst & Young were the top mergers and acquisitions (M&A) financial advisers in the global power sector for 2020.
20 January 04:49 PM Biden to be sworn in as US President on Wednesday
Biden announced an ambitious agenda for his first 100 days, including administering 100 million doses of coronavirus vaccinations.
20 January 02:04 PM Bahrain expected to raise $2 billion in bond sale
The debt sale comes after the Covid-19 pandemic and low oil prices exacerbated Bahrain’s fiscal deficit and pushed total outstanding debt to nearly $40 billion.
20 January 12:30 PM Britain’s inflation starts climb as Covid, Brexit effects combine
The UK's consumer prices rose by 0.6% in annual terms after a 0.3% increase in November.
19 January 04:25 PM Bank of America sees lower profits in Q4-20
Bank of America Corp recorded a decline in profits during the fourth quarter (Q4) of 2020.