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Global Economy

2 hours ago US, China to review trade deal mid-August
The senior US and Chinese officials will come together on 15 August via videoconference to review the first phase of the bilateral trade deal.
2 hours ago Thomson Reuters reports lower quarterly earnings   
Thomson Reuters Corp on Wednesday said it saw slightly lower revenue and an 18% slump in operating profit during the second quarter of 2020.
5 August 02:02 PM Beirut explosion causes $3-5bn damages – Governor
Mubasher: The massive blast that shook the Lebanese capital on Tuesday caused between $3 billion and $5 billion worth of damage.
4 August 02:49 PM Nestlé reports 9.5% drop in H1 sales
Nestlé said its total sales fell 9.5% in the first six months of 2020 to stand at CHF 41.2 billion.
4 August 02:12 PM BP reports $16.8bn quarterly losses, slashes dividends
Energy giant BP on Tuesday reported losses of $16.8 billion for the second quarter (Q2) of 2020.
2 August 06:02 PM Siemens Healthineers to acquire Varian for $16.4bn
Mubasher: German health group Siemens Healthineers signed a deal to acquire the US Varian Medical Systems Inc in an all-cash transaction worth $16.4 billion.
30 July 04:31 PM TikTok to offer creators $2bn in next three years
TikTok is planning to give its creators over $2 billion in the next three years.
29 July 05:57 PM GE posts wider than expected loss in Q2
General Electric Co (GE) lost less than expected cash in the second quarter (Q2) of the year.
29 July 05:55 PM Investors value TikTok at $50bn for takeover
TikTok has been valued at around $50 billion by some investors planning to control the social media application.
28 July 04:25 PM Ex-Renault boss named as Jaguar Land Rover next CEO
Jaguar Land Rover (JLR) has named Renault's ousted boss, Thierry Bollore, as its next CEO.
28 July 04:22 PM Global remittance transfers to decline 20% in 2020
Countries most dependent on global remittance transfers will face credit risks in 2020 due to the expected drop in such inflows.
27 July 05:11 PM Deutsche Bank to stop coal mining financing by 2025
Mubasher: Deutsche Bank has tightened its policy on fossil fuels, saying that it will end its business activities regarding coal mining worldwide by 2025.
23 July 04:48 PM Twitter daily users see record surge in Q2-20
The number of Twitter's daily users has hit its highest-ever quarterly level during the second quarter (Q2) of 2020.
23 July 03:52 PM EX-Wirecard CEO arrested again as prosecutors suspect $3.7bn fraud
German prosecutors have rearrested the former CEO of Wirecard, Markus Braun, in Munich and detained two other unnamed former executives.
22 July 06:54 PM US signs $1.95bn with Pfizer, BioNTech for COVID-19 vaccine
The US has been trying to accelerate the development and production of a potential vaccine for coronavirus (COVID-19).
22 July 04:21 PM United Airlines suffers $1.6bn losses in Q2   
United Airlines reported losses worth $1.63 billion during the second quarter (Q2) of 2020, driven by a plunge in air travel demand due to COVID-19.
21 July 05:27 PM Coca-Cola sees largest decline in Q2-2020
Coca-Cola's net revenues dipped by 28% to $7.2 billion during the second quarter (Q2) of 2020.
21 July 02:21 PM LinkedIn slashes 6% of global workforce amidst pandemic
LinkedIn announced its plan to cut 6% of its global workforce, about 960 jobs, across the group’s sales and hiring divisions.
21 July 12:33 PM EU leaders agree on EUR 750bn COVID-19 recovery fund
The European Union’s (EU) leaders have reached a historic deal over huge post-coronavirus recovery package, following four days of negotiations in Brussels.
20 July 06:03 PM Ford partners with Intel's Mobileye for collision avoidance technology
Ford Motor has inked a deal with Intel's Mobileye to prevent car crashes and ensure the safety of drivers.
20 July 03:48 PM Chevron to acquire Noble Energy for $5bn
Chevron Corporation has reached an agreement to acquire Noble Energy in an all-stock deal worth $5 billion, or $10.38 per share.
16 July 05:13 PM World's population to begin shrinking after 2050
 The number of the world's inhabitants is expected to decline after 2050, negatively affecting the global economy.
15 July 06:23 PM Apple wins court's ruling on EU's EUR 13bn tax order
The European Union's (EU) general court has cancelled the 2016 order to Apple to pay EUR 13 billion in Irish taxes.
15 July 06:12 PM Google buys $4.5bn stake in Reliance's digital unit
Mubasher: India’s Reliance Industries announced Alphabet Inc’s Google will be purchasing a 7.7% stake in its digital unit, Jio Platforms, for $4.5 billion.
14 July 04:41 PM Phison to sell shares in joint venture to Kingston
Phison Electronics will sell its shares in Kingston Solutions (KSI), a joint venture with Kingston Technology Corporation, to Kingston.