Author Archives
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Stellantis NV pauses plan to launch Peugeot in US market
In a statement, Stellantis, the world’s fourth-largest carmaker said, it has shelved a plan to launch the Peugeot brand in the United States. Instead it will focus on high-margin Jeeps, RAM pickup trucks, Fiat Chrysler’s (FCA) other brands including Chrysler,… Read More ›
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Guests arrive at Singapore’s world’s first travel bubble business hotel
In a significant development, Singapore has launched a travel “bubble” business hotel, in one of the world’s first such facilities, that enable executives to conduct face-to-face meetings without exposing themselves to potential coronavirus-induced COVID-19 infection. The bubble hotel has meeting… Read More ›
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Rolls Royce pauses Bergen Engines sale to Russia’s TMH Group controlled company
In a statement British engine maker Rolls-Royce said, it had paused the planned sale of its Bergen Engines to a company controlled by Russia’s TMH Group after an intervention by Norway. Norway’s NSM security agency is assessing the $178 million… Read More ›
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U.S. revokes sanction waiver against Israeli mining company Gertler
In a significant development, the United States revoked a sanctions waiver to Israeli mining magnate Dan Gertler, which was issued during the last days of the Trump Administration. In a statement, the Treasury Department said, exempting Gertler from sanctions was… Read More ›
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Group of 90 investors seek $1.2 billion in damages from Vivendi
On Tuesday, a group of investors are set to ask a French court to back its $1.2 billion (1 billion euros) claim in damages from Vivendi, alleging that the media giant made false financial statements during a merger deal twenty… Read More ›
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Deliveroo confirms London listing plans
On Monday British food delivery startup Deliveroo announced plans for a London listing while disclosing that it posted a loss of $437.94 million (317 million pounds) in 2020. Deliveroo’s IPO is one of the most eagerly anticipated initial public offerings… Read More ›
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GE nears $30 billion-plus deal to combine aircraft-leasing business with Ireland’s AerCap Holdings NV
According to sources familiar with the matter at hand, General Electric Co is closing in on a $30 billion-plus deal to combine its aircraft-leasing business with Ireland’s AerCap Holdings NV, reported the Wall Street Journal. While details of the manner… Read More ›
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Brent crude futures breaches $70, first since COVID-19 pandemic
On Monday, for the first time since the coronavirus-induced COVID-19 pandemic began, brent crude futures breached the $70 threshold for the first time, while U.S. crude touched its more than two years high. The development comes in the wake of… Read More ›
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U.S.-UK agree to suspend punitive tariffs on scotch whiskey as first step for finding solution towards civil aviation subsidies
On Thursday, in a report, the Spectator magazine said, Washington and London have hammered out an agreement to suspend retaliatory tariffs on goods including Scotch whisky. The tariffs were imposed earlier as part of a long-running trade dispute over civil… Read More ›
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Five Eyes Network should forge closer ties with Greenland given availability of rare earth deposits
With China controlling nearly 90% of the world’s supply of rare earth, the Five Eyes network should forge closer ties with Greenland to boost the critical supply of the minerals and cut their dependence on China, said a think tank… Read More ›
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