Global Economy

22 October 05:01 PM Goldman Sachs fined $350m in Hong Kong over 1MDB scandal

Mubasher: Hong Kong's market regulator fined Goldman Sachs's Asian business $350 million for its role in raising billions of dollars for 1MDB.

Global Reports

22 October 04:43 PM Microsoft partners with Alaska Airlines, SkyNRG to cut CO2 emissions

Microsoft has entered into a partnership to buy sustainable aviation fuel (SAF) from SkyNRG for Alaska Airlines.

Global Reports

22 October 02:24 PM Southwest sees biggest-ever quarterly loss on coronavirus

Southwest Airlines Co lost more than $1 billion during the third quarter (Q3) of 2020, its biggest loss ever.

Global Reports

21 October 04:03 PM PayPal to launch cryptocurrency service for customers

PayPal Holdings Inc will launch a new service allowing its customers to buy, sell, and hold bitcoin and other cryptocurrencies.

Global Reports

20 October 02:16 PM Intel to sell NAND business to S.Korean chipmaker for $9bn

Mubasher: Intel Corp has reached an agreement to sell its NAND memory chip business to South Korea’s SK Hynix Inc for $9 billion.

Global Reports

20 October 12:41 PM NASA selects Nokia to build moon’s first 4G mobile network

NASA has chosen Nokia to build the first-ever 4G mobile network on Earth’s natural satellite.

Global Reports

19 October 04:36 PM Alibaba takes over hypermarket operator Sun Art in $3.6bn deal

Mubasher: Alibaba Group Holdings has acquired a controlling stake in the Chinese hypermarket operator Sun Art Retail Group Ltd in a $3.6 billion deal.

Global Economy

19 October 03:14 PM Ant Group receives approval for listing on Hong Kong bourse

Ant Group has obtained the approval of the China Securities Regulatory Commission (CSRC) for listing on the Hong Kong bourse.

Global Reports

14 October 05:10 PM Facebook to use AI for renewable energy storage

Facebook and Carnegie Mellon University are planning to utilise artificial intelligence (AI) in finding electrocatalysts.

Global Reports

14 October 04:06 PM UK’s electric vehicle startup Arrival raises $118m investment from BlackRock

Mubasher: The UK-based electric-vehicle startup Arrival Ltd. has raised $118 million from investment giant BlackRock, the Wall Street Journal reported on Wednesday.

Global Reports

14 October 03:37 PM Bank of America earnings drop on higher provisions

Bank of America Corp saw a 15.8% decline in quarterly profit, hit by higher provisions for credit losses.

Global Reports

13 October 05:26 PM China’s imports, exports jump in September as demand recovers

Mubasher: China’s imports soared by 13.2% in September, recording their fastest pace this year, compared to a drop of 2.1% in August.

Global Reports

13 October 05:08 PM OPEC lowers 2021 world oil demand forecast amid COVID-19

OPEC has cut its 2021 world oil demand growth forecast by 0.08 million barrels per day (bpd).

Oil and Energy

13 October 02:13 PM Johnson & Johnson's coronavirus vaccine trials paused

Johnson & Johnson had temporarily paused its COVID-19 vaccine candidate clinical trials due to an unexplained illness in a study participant.

Global Reports

7 October 05:28 PM Global billionaire wealth jumps to record $10.2trn during COVID-19 crisis

Mubasher: The aggregate wealth of billionaires grew by 27.5% to $10.2 trillion during the coronavirus crisis between 7 April and 31 July.

Global Economy

7 October 02:31 PM Motor insurance market in Asia-Pacific could top $257bn in 2023

The motor insurance market in the Asia-Pacific region is expected to grow to $257.8 billion in 2023 from $227.1 billion in 2019.

Global Reports

7 October 02:30 PM US President urges Congress for $25 billion support to airlines

The US President Donald Trump has called on Congress to grant US passenger airlines $25 billion payroll assistance.

Global Reports

6 October 03:49 PM IMF approves $959m debt service relief for 28 countries

The International Monetary Fund (IMF) has approved the second six-month tranche of debt service relief worth $959 million.

Global Reports

6 October 03:23 PM Three scientists win Nobel physics prize for black hole breakthroughs

Three scientists won and shared this year’s Nobel Prize in physics for advancing our understanding of black holes.

Global Reports

5 October 05:31 PM Nvidia to build world's 29th largest supercomputer in UK

Nvidia, a US chipmaker, has announced its plan to build a EUR 40 million ($52 million) supercomputer in Cambridge.

Global Reports

5 October 04:28 PM Siemens, Macquarie units launch US distributed energy JV

Macquarie’s Green Investment Group (GIG) and Siemens’ Smart Infrastructure (SI) and Financial Services (SFS) are forming a new joint venture (JV) named Calibrant Energy.

Global Reports