In a statement Japan’s Mitsubishi Electric Corp said, it has agreed to buy a part of Sharp Corp’s plant in western Japan in order to meet growing demand for power management chips used in electric vehicles (EVs). The development comes… Read More ›
Month: June 2020
After Supporting China On Hong Kong, HSBC Facing Flak From China As Well As The West
Pleasing China and the West at the same time is a tough task and British bank HSBC is learning it the hard way. After the top executive of the bank in Asia made a public declaration of the company’s stance… Read More ›
Corporate Travel Pattern Change Due To Pandemic To Impact Airlines, But There Are ‘Green Shoots’ Too, Says Citi
Airlines across the world may be hard hit by the changes in corporate travel patterns brought in by the novel coronavirus pandemic, but “not all bad news” await he aviation sector as there are opportunities to be had in the… Read More ›
Its Art Collection To Be Auctioned By British Airways To Raise Funds
As British Airways prepares to make thousands employees redundant, the global airlines plans to put up for sale some of its renowned art collection in order to generate some cash to meet the severe drop in business because of the… Read More ›
Nokia appoints Marco Wiren as its CFO
On Thursday, Finnish telecoms giant Nokia said, it has appointed Marco Wiren as its chief financial officer following a management reshuffle earlier this year which saw a change of its chairman and CEO. Wiren will replace Kristian Pullola effective from… Read More ›
Vietnamese plywood exports under scrutiny over sourcing of raw materials
In a statement, the United States said it would examine whether hardwood plywood imports that have been completed in Vietnam using Chinese components are circumventing U.S. duties on imports from China. The move is likely to see similar duties on… Read More ›
CityFibre to create 10K jobs for upgrading Britain’s infrastructure to full fibre
On Thursday, in a statement CityFibre, a broadband company, said it will create up to 10,000 new jobs over the next three years to help upgrade Britain’s digital infrastructure to full fiber. The British government aims to deploy gold-standard fast… Read More ›
Europe’s Just Eat Takeaway acquires Grubhub for $7.3 billion
In a significant development, European food-ordering Just Eat Takeaway.com NV, has agreed to acquire Grubhub Inc, subject to regulatory approval. If the all-stock deal goes through it would create the world’s largest food delivery company outside of China. The deal… Read More ›
Starbucks Lost $3 Billion In Revenue In Latest Ended Quarter Due To Covid-19 Pandemic
The novel coronavirus pandemic will cause a loss in the fiscal third quarter, expects the international coffee chain Starbucks. The company predicted a a loss of as much as $3.2 billion in revenue because of the coronavirus pandemic. The company… Read More ›
OECD Predicts UK To Be The Worst Hit Economy Among Leading Nations Due To Pandemic
The Organisation for Economic Co-operation and Development has warned that the United Kingdom is likely to the hardest hit economically among the richer countries because of the novel coronavirus pandemic. The OECD said that that there is likely to a… Read More ›
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