According to two sources, China’s Dongfeng Motor will have a reduced stake of 4.5% in the new group following the merger of PSA with Fiat Chrysler. The board of both groups have approved a binding memorandum of understanding for a… Read More ›
Day: December 18, 2019
Goldman Sachs provides WeWork with $1.75 credit line
In a statement, shared workplace operator WeWork disclosed, it has arranged a $1.75 billion letter of credit with Goldman Sachs, which is in the process of being syndicated and it expects to tap the fund in January 2020. The line… Read More ›
Chairman of Samsung Electronics sentenced to jail on union-busting charge
A south Korean court has jailed Lee Sang-hoon, Samsung Electronics Co Ltd board Chairman following a sentence of up to 1-1/2 years in jail. Lee Sang-hoon has been charged for sabotaging legitimate union activities, said the South Korean court. Along… Read More ›
Hong Kong saw capital outflows of $5 billion midst pro-democracy protests
Following China’s attempt to thwart the pro-democracy movement in Hong Kong, since April the Asian financial hub has seen capital outflows of nearly $5 billion, said the Bank of England. According to the central bank’s Financial Stability Report, the flight… Read More ›
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