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Global Reports

10 September 04:50 PM Amazon may acquire $20bn stake in India’s Reliance Retail
Mubasher: India’s Reliance Industries Ltd is looking to offer to sell about $20 billion stake in its retail business to Amazon, Bloomberg reported.
10 September 03:57 PM Big fire erupts at Beirut port weeks after massive blast
A massive fire erupted on Thursday at Beirut port only a little more than a month after a huge blast devastated the port.
10 September 01:47 PM World needs 8,000 jets to deliver vaccines - IATA
A total of 8,000 747 cargo aircraft are needed to transport the coronavirus (COVID-19) vaccines to 7.8 billion people across the world.
9 September 06:52 PM Amazon to open two fulfilment centres in Canada
Amazon.com has planned to inaugurate two new fulfilment centres in Ontario in Canada to offer 2,500 new job opportunities.
9 September 05:14 PM France’s LVMH backs out of $16bn Tiffany acquisition deal
Mubasher: LVMH announced the end of talks over a $16 billion planned acquisition of the US jeweler Tiffany.
9 September 04:31 PM AstraZeneca suspends coronavirus vaccine trial
AstraZeneca has suspended global trials of its experimental coronavirus vaccine, which it develops with the University of Oxford.
2 September 04:12 PM Australia falls into first recession in 29 years
Mubasher: Australia reported its sharpest economic decline on record in the second quarter (Q2) of 2020.
1 September 04:28 PM Eurozone inflation turns negative for first time in four years
Eurozone inflation has fallen into negative territory in August for the first time in four years.
31 August 04:32 PM Buffett announces $6bn investment in five major Japanese firms
Mubasher: Warren Buffett’s Berkshire Hathaway Inc announced a $6 billion investment in five of Japan’s largest trading houses.
27 August 05:58 PM Amazon to inaugurate first fresh grocery store in Los Angeles
Amazon will open its first Fresh grocery store in Los Angeles’ Woodland Hills neighborhood in the upcoming period.
27 August 05:51 PM US Fed shifts inflation target
Mubasher: The US Federal Reserve announced a new strategy to boost employment and allow inflation to rise above the 2% target “for some time".
26 August 11:37 AM Germany extends coronavirus relief measures at EUR 10bn cost
Mubasher: German coalition parties agreed to extend a programme to relieve the impact of the coronavirus (COVID-19) crisis on economy.
25 August 03:57 PM German economy sees deepest drop in Q2
Mubasher: The German economy shrank by a record 9.7% in the second quarter (Q2) of 2020.
25 August 02:29 PM Apple to open floating store in Singapore
Apple said it is close to opening an eye-catching new Apple Store in Singapore that floats on the water.
25 August 01:57 PM US, China officials reiterate commitment to trade deal
Top US and Chinese officials have reaffirmed their commitments to taking the steps necessary for the success of the Phase 1 trade deal.
24 August 04:17 PM Facebook to pay France EUR 100m in overdue taxes
Facebook reportedly accepted paying EUR 104 million ($123.12 million) in taxes in France, Reuters reported, citing French magazine Capital.
24 August 04:09 PM ByteDance investors in talks to exchange stakes with TikTok assets
The investors of ByteDance are considering exchanging their stakes in the company with equity in the TikTok assets.
24 August 12:56 PM Cloud solutions are business priority after COVID-19 shutdown – Survey
Companies around the world are catching up to optimize their remote work experience, according to a recent survey by Infoblox Inc.
24 August 09:18 AM China, US to hold trade talks in upcoming days
China and the US will hold talks in the upcoming days to evaluate the progress made in their Phase 1 trade deal.
19 August 05:13 PM Walmart quarterly e-commerce sales in China leap 104%
Walmart said its net e-commerce sales in China signalled a 104% annual growth during the three months ended 31 July.
17 August 04:44 PM Sanofi to acquire US-based Principia Biopharma for $3.7bn
Mubasher: The French pharma firm Sanofi has reached an agreement to acquire US-based Principia Biopharma Inc. for $3.68 billion.
13 August 04:31 PM Russia to conduct Sputnik V’s clinical trials in Saudi Arabia
The CEO of Russia’s sovereign wealth fund said that his country will begin clinical trials for its coronavirus vaccine, branded “Sputnik V”, in Saudi Arabia.
12 August 04:39 PM US signs $1.5bn deal with Moderna for potential COVID-19 vaccine
Mubasher: The US has reached an agreement with biotech company Moderna Inc to purchase 100 million doses of its potential coronavirus vaccine.
12 August 01:41 PM UK enters recession after economy slumps 20.4% in Q2
The UK economy has suffered its largest-ever contraction during the second quarter (Q2) of the year on account of the coronavirus lockdown measures.
11 August 05:20 PM Nokia phones maker HMD secures $230m from strategic partners
HMD Global, the home of Nokia phones, has raised $230 million funding from its global strategic partners.