On Wednesday, in a statement French tire maker Michelin stated it plans on reducing its workforce by up to 2,300 jobs over the a period of three years as part of a restructuring process that is aimed at simplifying and… Read More ›
Month: January 2021
GM, China’s second biggest foreign automaker, records third straight downturn in sales
While China attracts global automakers saying its auto market is the world’s biggest, U.S. carmaker General Motors Co reported a 6.2% drop in vehicle sales in China during 2020. The carmaker suffered a prolonged sales slowdown in China throughout 2020…. Read More ›
UK offers extra financial assistance worth 4.6 billion pounds to select sectors hit by third national lockdown
On Tuesday, Britain offered 4.6 billion pound support to businesses struggling with the third national lockdown, which was imposed this week to stem the new mutant wave of the coronavirus-induced COVID-19 cases that is sweeping across the U.K. In a… Read More ›
Iranian Revolutionary Guards Corps seizes South Korean flagged tanker
According to a report from the Iranian media, Iran’s Revolutionary Guards Corps has seized a South Korean-flagged tanker in Gulf waters and has detained its crew. The development comes in the wake of South Korean banks freezing Iranian funds following… Read More ›
NYSE will no longer delist China Mobile Ltd, China Telecom Corp Ltd and China Unicom Hong Kong Ltd
In a statement the New York Stock Exchange said, it no longer intends to delist China Mobile Ltd, China Telecom Corp Ltd and China Unicom Hong Kong Ltd “in light of further consultation with relevant regulatory authorities.” Last week the… Read More ›
Iran resumes enrichment of uranium at underground Fordow site igniting U.S.-Iran tensions
With Iran resuming enrichment of 20% uranium at an underground nuclear facility, in breach of the 2015 nuclear pact and potentially complicating efforts by U.S. President-elect Joe Biden to rejoin the deal,Israeli prime minister Benjamin Netanyahu stated, the move is… Read More ›
Bitcoin Crosses $34,000 With Continued Record Rally
After surging past the $30,000 mark last week, crypto currency bitcoin’s value went above the $34,000 mark for the first time on Sunday with greater interest of investors in the digital currency and continued trading of the virtual currency. With… Read More ›
Private Survey Finds Slowdown In Pace Of China’s December Factory Activity Growth
Factory activity in China in the month of December increased, sustaining its recovery form the pandemic to pre-pandemic levels but the pace of growth slowed down because of cost pressures, showed a business survey published Monday. The Caixin/Markit Manufacturing Purchasing… Read More ›
Casino operator MGM Resorts makes $11 billion takeover offer for Entain Plc
On Monday, in a statement Entain Plc said, it has received a $11 billion bid proposal from U.S. casino operator MGM Resorts which significantly undervalued its business. In this latest transatlantic move which sees consolidation in the sector MGM Resorts’… Read More ›
State of emergency possible in Tokyo and in three surrounding prefectures: Fuji TV
With coronavirus-induced COVID-19 cases rising sharply in Japan and weighing down its medical system, Japan is considering declaring a state of emergency for Tokyo and three surrounding prefectures as early as this week, reported Fuji TV on Monday. On December… Read More ›
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