As Saudi Arabia seeks to shore up finances battered by the slide in oil, the kingdom plans to raise $17.5 billion in the biggest ever bond sale from an emerging-market nation, people with knowledge of the offering were quoted in… Read More ›
Day: October 19, 2016
Saudi Break-Even Oil Price Drop Less Than Forecast: IMF
According to the International Monetary Fund, the average oil price will fall this year by only half as much as forecast six months ago. The Fund said this in respect to Saudi Arabia which needs to balance its budget by the… Read More ›
VW and its works council hammer out a $5.5-$6.6 billion cost cutting strategy
Finer burrs are yet to be ironed out. Discussions between the two are still underway, as per anonymous sources. Manager Magazin has reported citing anonymous sources, Volkswagen’s brand management has agreed with labour leaders to adopt cost cutting measures in… Read More ›
FedEx to open its second largest package sorting facility in France
The investment of $1.5 billion by FedEx will double its sorting facility while creating 200-400 jobs in the process. U.S. package delivery service company FedEx has disclosed that it is set to invest $1.5 billion (1.4 billion euros) in Roissy,… Read More ›
Credit Cruise agrees to settle Italian tax case for $110 million
As per a source with direct knowledge of the matter at hand, Credit Suisse CNGN has agreed, in principle, to pay about $110 million (100 million euros) in order to settle its tax investigation in Italy. According to investigators, Credit… Read More ›
Samsung faces potential class-action lawsuit in U.S. over its fire-prone Galaxy Note 7
The complaint revolves around the issue that although the smartphones weren’t operational they have been billed on a monthly basis. The U.S. unit of Samsung Electronics Co Ltd is facing a proposed class action lawsuit from 3 Galaxy Note 7… Read More ›
Deliveries for old orders of Tesla’s Model 3 will be as per original schedule – Tesla Motors
In contrast to a CNBC report, Tesla Motors has clarified that only deliveries for new orders for the Model 3 will be from 2018. There is no change in deliveries for old orders. Tesla Motors Inc. has disclosed that customers… Read More ›
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