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.

Global Reports

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.

Global Reports

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.

Global Reports

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.

Global Reports

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.

Global Reports

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.

Global Reports

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.

Global Reports

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.

Global Reports

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.

Global Reports

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.

Global Reports

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.

Global Reports

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.

Global Reports

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.

Global Reports

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.

Global Reports

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).

Global Reports

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.

Global Reports

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.

Global Reports

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.

Global Reports

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.

Global Economy

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.

Global Reports

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.

Global Economy

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.

Global Reports

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.

Global Reports

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.

Global Economy