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Global Markets brief

2 March 2020 01:51 PM Nokia names new CEO
Mubasher: The Finnish telecoms equipment maker Nokia announced the appointment of Pekka Lundmark as its new president and CEO.
25 February 2020 05:28 PM Thomson Reuters appoints former Nielsen’s president as CEO
Mubasher: Thomson Reuters Corporation has named former Nielsen Holdings’ president Steve Hasker as the new CEO following Jim Smith, Reuters reported on Tuesday.
24 February 2020 05:37 PM UK’s Behavox secures $100m investment from SoftBank Vision Fund 2
​​​​​​​Mubasher: UK’s artificial intelligence (AI) start-up Behavox announced a $100 million investment from SoftBank Vision Fund 2.
21 February 2020 07:32 PM Chinese solar industry may rebound in 2020
​​​​​​​Mubasher: The China Photovoltaic Industry Association (CPIA) expects the country’s new installations to reach a range between 35 and 45 gigawatts in 2020.
20 February 2020 05:28 PM Global LNG demand forecast to double by 2024 – Shell
Mubasher: Global demand for liquefied natural gas (LNG) is forecast to double to 700 million tonnes by 2040.
20 February 2020 04:55 PM Morgan Stanley to acquire E-Trade Financial Corporation for $13bn
Mubasher: American multinational investment bank Morgan Stanley has announced that it will acquire discount brokerage E-Trade Financial Corporation in a consideration of $13 billion.
19 February 2020 09:27 PM UK citizens may not completely abandon cash – GlobalData
Mubasher: Cash use In the UK is rapidly declining, as more consumers adopt new means of payment such as contactless cards and mobile payments.
19 February 2020 05:04 PM General Motors to lay off 1,500 employees in Thailand
Mubasher: General Motors is set to lay off around 1,500 employees in Thailand in June 2020, Reuters reported on Wednesday.
18 February 2020 11:01 PM Dell seals $2bn deal to sell $2bn cybersecurity unit
Mubasher: Dell Technologies has entered into an agreement with a consortium to acquire Dell’s cybersecurity unit RSA for $2.075 billion.
17 February 2020 05:13 PM GM to withdraw from Australia, New Zealand, Thailand
Mubasher: General Motors announced that it would shut down its sales, design, and engineering operations in Australia and New Zealand by 2021.
16 February 2020 03:24 PM US mulls halting GE engine deliveries to China's new aircraft
Mubasher: The US government is mulling a proposal to stop exporting jet engines co-manufactured by General Electric Co to China.
15 February 2020 07:29 PM Royal Bank of Scotland plans rebranding, cutting investment-banking business
​​​​​​​Mubasher: Royal Bank of Scotland Group (RBS) has unveiled plans to change its name to NatWest Group, according to MarektWatch.com.
13 February 2020 04:50 PM Tesla may float $2bn shares to strengthen balance sheet
Mubasher: American electric vehicle and clean energy company Tesla Inc. is planning to raise $2 billion through a public share offering.
11 February 2020 06:06 PM UAE’s TIME Hotels eyes expansion into Tatarstan
TIME Hotels is currently considering investment opportunities in Tatarstan, located 800 kilometres east of Moscow at the confluence of the Volga and Kama Rivers.
10 February 2020 05:47 PM Volvo Cars mulls merger with Geely Automobile Holdings
Mubasher: Volvo Cars currently considers a merger with Geely Automobile Holdings Limited to create a global carmaker with presence across key markets.
10 February 2020 02:28 PM L Brands in talks to sell Victoria’s Secret
Mubasher: L Brands is close to seal a deal to sell its Victoria’s Secret brand to private equity company Sycamore Partners.
9 February 2020 00:13 AM VW may resume operations in China late February  
Mubasher: Volkswagen (VW) has postponed restarting production at its plants in China until 17 February 2020, as the coronavirus outbreak becomes fiercer.
7 February 2020 08:13 PM Zimbabwean corn Imports hit 11-yr high amid drought, economic collapse
Mubasher: Zimbabwe’s white corn imports from South Africa hit its highest weekly level in 11 years, Bloomberg reported on Friday.
6 February 2020 10:19 PM OPEC+ may propose more output cut as coronavirus impacts demand
Mubasher: OPEC+ JTC is set to propose a cut of 600,000 bpd in output, in response to the coronavirus’ impact on global energy demand.
6 February 2020 11:15 AM China to halve duties on some US imports worth $75bn
Mubasher: China announced that it will halve retaliatory tariffs imposed on hundreds of US goods worth $75 billion, CNBC reported on Thursday.
5 February 2020 09:51 PM LinkedIn’s CEO to resign in June 2020
Mubasher: Professional networking platform LinkedIn’s CEO Jeff Weiner on Wednesday announced that it will leave his position as of 1 June 2020.
5 February 2020 05:16 PM Computational storage leader NGD raises $20m in Series C funding
NGD Systems raised $20 million in Series C funding round to speed up the production and deployment of the first NVMe CSD in the world.
4 February 2020 11:12 PM Siemens to pay $1.2bn for Iberdrola's stake in Siemens Gamesa
Mubasher: German multinational conglomerate Siemens has bought Spanish multinational electric utility company Iberdrola’s stake in Siemens Gamesa Renewable Energy (SGRE), Reuters reported on Tuesday.
4 February 2020 09:50 PM US Justice Department questions iPhone app developers
Mubasher: The US authorities are interviewing iPhone app developers as part of its investigation into Apple.
3 February 2020 07:09 PM Linx takes over Neemo for BRL 17.6m  
Mubasher: The retail software major, Linx, announced the acquisition of Neemo, one of the top customised delivery solutions, to provide an omnichannel experience to customers.