NEW YORK: Bank lenders for high-quality US companies are taking different refinancing avenues as they seek to extend maturities on billions of US dollars in loans at a time when the COVID-19 pandemic has made liquidity a top priority. Corporations that historically kept their credit agreements intact while extending maturities […]
Business
NEW DELHI/TAIPEI: Foxconn plans to invest up to US$1 billion to expand a factory in southern India where the Taiwanese contract manufacturer assembles Apple iPhones, two sources said. The move, the scale of which has not previously been reported, is part of a quiet and gradual production shift by Apple […]
Lando Norris’s hopes of a repeat podium at the Red Bull Ring faded on Friday when the McLaren driver was handed a three-place grid penalty in practice for Sunday’s Styrian Formula One Grand Prix. SPIELBERG, Austria: Lando Norris’s hopes of a repeat podium at the Red Bull Ring faded on […]
WASHINGTON: US producer prices unexpectedly fell in June as rising costs for energy goods were offset by weakness in services, pointing to subdued inflation that should allow the Federal Reserve to keep pumping money into the economy to arrest a downward spiral. Still, deflation remains unlikely as the economy battles […]
Lonza Group AG is in the “last step” of discussions with U.S. regulators for approval to claim that its formulation is effective in killing the novel Coronavirus on surfaces, an executive at the pharmaceutical and chemical giant told Reuters. REUTERS: Lonza Group AG is in the “last step” of discussions […]
REUTERS: American Airlines Group Inc has threatened to cancel some of its orders for Boeing Co’s grounded 737 MAX jets unless the planemaker helps secure funding for them, the Wall Street Journal reported on Friday. American Airlines has struggled to secure financing for 17 jets it had expected Boeing to […]
REUTERS: Electric vehicle startup Rivian, which is backed by Amazon and Ford Motor and aims to put an electric pickup and SUV in production in 2021, boosted its war chest further with a US$2.5-billion investment round led by T Rowe Price, Rivian said Friday (Jul 10). The deal comes on […]
MOSCOW: AliExpress Russia, an e-commerce venture between Chinese online shopping giant Alibaba and Russian partners, said it was aiming for annual turnover of US$10 billion by 2022-2023, up from what analysts estimate is about US$6 billion now. Chief Executive Dmitry Sergeev, who did not give details on current turnover, told […]
SYDNEY: Australia has granted provisional approval to Gilead’s remdesivir as the first treatment option for COVID-19 in the country, the Therapeutic Goods Administration (TGA) said on Friday (Jul 10). The approval is for adults and adolescent patients with severe COVID-19 symptoms and have been hospitalised, the Australian regulator said. Remdesivir […]
LONDON: Liverpool manager Jurgen Klopp confirmed on Friday (Jul 10) that captain Jordan Henderson’s season is over due to a knee injury. Henderson was forced off in the midweek 3-1 win over Brighton following a collision with Yves Bissouma but the Reds boss revealed surgery is not needed and expects […]