On Monday, Nissan Motor Co’s CEO Makoto Uchida told shareholders, he will stick to his pledge to step down from the helm of the company if he fails to deliver on his turnaround plan. “At the last extraordinary shareholders meeting… Read More ›
Month: June 2020
SoftBank undertakes corporate bonds repurchase program worth $1.9 billion to trim debt
On Monday SoftBank Group Corp stated, it will repurchase up to $1.9 billion (200 billion yen) of its domestic unsecured corporate bonds, from June 30 to July 17, as part of a plan to pare down its debt. SoftBank’s CEO… Read More ›
Profits drop by 50% at China’s state-owned firms during Jan to May period: Finance Ministry
On Monday, in a statement China’s Finance Ministry said, profits of its state-owned firms fell by 52.7% year on year for the period of January 2020 to May 2020, to $93.67 billion (663.1 billion yuan). ($1 = 7.0794 yuan)
U.S. Shale giant Chesapeake Energy Corp files for Chapter 11 bankruptcy protection
In a development that marks the biggest U.S. oil and gas producer seeking bankruptcy protection following heavy debts whose effects were compounded by the Wuhan coronavirus, Chesapeake Energy Corp has filed for Chapter 11 bankruptcy protection bringing an end to… Read More ›
$1.4bn Of The Pandemic Aid Was Sent To Dead People By The US Treasury
Government inspectors in the United States have found out that more than $1.4bn of its pandemic rescue funds were sent by the US Treasury to people who we4re already dead by mistake. This disclosure was among the several “challenges” that… Read More ›
The Worst Of The Coronavirus Crisis Has ‘Probably Passed’, Says ECB’s Lagarde
While expressing hope that the worst phase of the impact of the novel coronavirus pandemic on the world would be over, Christine Lagarde, the president of the European Central Bank, said that it is unlikely that the world and its… Read More ›
Bipartisan bill punishing China over draconian Hong Kong security law sails through U.S. Senate
In yet another significant development, the U.S. Senate has passed a bipartisan bill that imposes mandatory sanctions on companies and people that back China’s effort to restrict Hong Kong’s autonomy. The bill also includes secondary sanctions on banks that do… Read More ›
Novartis settles criminal and civil charges, agrees to pay $346M fine: DoJ
In a statement, the U.S. Department of Justice stated, Novartis AG along with Novartis Hellas, a Greece-based unit of the Swiss drugmaker, has entered a deferred prosecution agreement wherein it has agreed to pay $225 million as a criminal fine…. Read More ›
UAE and Israeli companies to work together to fight coronavirus pandemic
According to a report from WAM, UAE’s state-run news agency, two private companies from the country will collaborate with two Israeli companies on medical projects. The collaboration will include creating drugs to combat coronavirus which emerged from Wuhan, China. The… Read More ›
Major U.S. airlines to hold White House meeting today
According to three sources briefed on the matter at hand, th CEOs of major U.S. airlines are set to hold a meeting later today at the White House to convince the federal government to mandate temperature checks for passengers. The… Read More ›
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