Author Archives
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Citi’s Strategy Of Revamping To See It Exit The Mexican Consumer Business
Citigroup Inc has announced that it will close its Citibanamex consumer banking operation in Mexico, ending a 20-year retail presence in the country that was the last of the bank’s overseas consumer businesses. Citigroup’s decision to sell or spin off Citibanamex,… Read More ›
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Munich Re Report Says Insurers Shelled Out $120 Billion In 2021 Due To Natural Disasters
In a year that was marked by devastating storms and cold snaps in the United States, 2021 was recorded as the second most expensive year on record for the insurance companies of the world, according to Munich Re. The firm… Read More ›
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The Mandarin Oriental In New York Will Be Bought By Asia’s Richest Man For $98 Million
Mukesh Ambani, Asia’s richest man, has purchased a majority interest in the Mandarin Oriental in New York City for slightly over $98 million. The hotel’s parent company, a Cayman Islands-based firm controlled by the Investment Corporation of Dubai, was acquired… Read More ›
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New Study Finds T-Cells From Common Colds Can Protect Against Covid-19
An Imperial College London study released on Monday indicated that high numbers of T-cells from common cold coronaviruses have the ability to protect against Covid-19, which could inspire the development of techniques for the development of second-generation vaccines. While there… Read More ›
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Surge In Electric Car Sales In The UK In 2021 But Wide Market Hit By Chip Shortage
Electric car sales increased dramatically last year in the United Kingdom, although the market as a whole did not rebound completely from the Covid-19 pandemic hit. According to the Society of Motor Manufacturers and Traders, more electric cars were registered in 2021… Read More ›
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Taiwan To Create A $200m Fund To Invest In Lithuania Amid China Row
As it tries to ward off Chinese diplomatic and trade pressure on Lithuania, Taiwan has announced the establishment of a $200 million fund to invest in the Baltic state. Taipei has stated that it plans to make its first investment… Read More ›
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Bitcoin’s Price Might Go Over $100,000 If It Replaces Gold As A Store Of Value, According To Goldman Sachs
With investors becoming more amenable to digital assets, Goldman Sachs Group predicts that the cryptocurrency bitcoin will continue to eat into gold’s market share. The likelihood of bitcoin’s value breaking beyond the $100,000 barrier has increased as a result of… Read More ›
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Sony Plans To Enter Electric Vehicle Market As Its Next Big Hit
Japan’s Sony Group Corp is planning to venture into the industry of electric vehicles as it wants to leverage its strengths in the fields of entertainment and sensors. For this purpose, the company plans to launch a new company this… Read More ›
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28.9% Drop In Its 2021 Revenue Expected By Due To US Sanctions
Huawei, the Chinese telecoms giant, stated on Friday that sales for this year will be 634 billion yuan ($99 billion), down 28.9% from the previous year. Sanctions imposed by the United States, a semiconductor scarcity, and a global decline in… Read More ›
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UK Bank Santander Pays Out $175 Million On Christmas Day by ‘Mistake’
The British bank Santander got into the Holiday spirit this year by paying out £130 million ($175 million) in error to customers on December 25. Santander stated in a statement released Thursday that the total amount was spread among 75,000 transactions… Read More ›
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