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Global Reports

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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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).
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.
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.
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.
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.
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.
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.
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.
1 October 05:19 PM Google to pay $1bn to news publishers
Mubasher: Google is planning to pay publishers $1 billion for their news over the coming three years, Reuters reported on Thursday
1 October 01:59 PM Eurozone manufacturing sector sees strongest growth in over two years
 The IHS Markit Eurozone Manufacturing PMI recorded 53.7 in September, up from 51.7 in August.
30 September 04:19 PM US economy shrinks at record rate of 31.4% in Q2-20
Mubasher: The US economy shrank the most in at least 73 years in the second quarter (Q2) of 2020.
30 September 03:35 PM Shell plans up to 9K job cuts in low-carbon transition
Royal Dutch Shell on Wednesday said that it plans to cut up to 9,000 jobs, or over 10% of its workforce.
29 September 05:02 PM Nokia reaches 5G equipment deal with BT
Nokia has inked a 5G deal with BT to become BT’s largest equipment provider, extending its long-term strategic partnership with Britain's biggest telecoms group.
29 September 04:21 PM Walmart eyes $20-25bn investment in Tata’s super app
Mubasher: Walmart Inc is in negotiations with Tata Group over an investment of $20-25 billion in the Indian conglomerate’s proposed super app.