Electric-car maker Fisker will go public through a merger with a blank check company backed by private equity firm Apollo Global Management Inc at a US$2.9 billion valuation, the companies said on Monday. REUTERS: Electric-car maker Fisker will go public through a merger with a blank check company backed by […]
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Apple Inc on Monday said it has allocated more than US$400 million of US$2.5 billion it pledged last year to stem California’s housing crisis. FILE PHOTO: Apple logo is seen on a Macbook in this illustration taken taken April 12, 2020. REUTERS: Apple Inc on Monday said it has […]
DUBAI: The IMF on Monday (Jul 13) again sharply lowered its Middle East and North Africa economic forecast, to its lowest level in 50 years, over the “twin shock” of the coronavirus pandemic and low oil prices. The region’s economy will contract by 5.7 per cent this year, and shrink […]
NEW YORK: The Federal Reserve’s US$3 trillion bid to stave off an economic crisis in the wake of the coronavirus outbreak is fuelling excesses across US capital markets. The US central bank has pledged unlimited financial asset purchases to sustain market liquidity, increasing its balance sheet from US$4.2 trillion in […]
RIO DE JANEIRO: On Friday, May 1, two workers on the PXA-1 offshore platform owned by Brazil’s state-run oil company Petrobras checked into the facility’s infirmary complaining of headaches and fever-like symptoms. Another Petrobras employee fell visibly ill the following day, three workers from the platform told Reuters. The sickness […]
Labour representatives at German carmaker Daimler said on Monday that discussions with management over cost cuts had become “rougher”, after a board member said over the weekend that more than 15,000 jobs were at risk. FRANKFURT: Labour representatives at German carmaker Daimler said on Monday that discussions with management over […]
REUTERS: PepsiCo beat analysts’ estimates for quarterly revenue and profit on Monday (Jul 13), helped by a surge in demand for snacks including Fritos and Cheetos during lockdowns triggered by the COVID-19 pandemic. Consumers stocked up on snacks, from potato chips to dips, as many were forced to work from […]
Alphabet Inc’s Google on Monday said it would spend around US$10 billion in India over the next five to seven years through equity investments and tie-ups, marking its biggest commitment to a key growth market. FILE PHOTO: Sundar Pichai, Chief Executive Officer of Alphabet, at the 50th World Economic Forum […]
World shares were approaching a five-month peak and the dollar slipped on Monday as investors wagered the earnings season would see most companies beat forecasts given expectations had been lowered by coronavirus lockdowns. LONDON/SYDNEY: World shares were approaching a five-month peak and the dollar slipped on Monday as investors wagered […]
Ubisoft shares dropped 9per cent on Monday after the French video games group said over the weekend that three senior managers were leaving the company following a review into allegations of inappropriate behaviour. PARIS: Ubisoft shares dropped 9per cent on Monday after the French video games group said over the […]