Author Archives
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ANZ names Paul O’Sullivan as next chairman
In a statement the Australia and New Zealand Banking Group Ltd said, Paul O’Sullivan, the current chairman of Optus, will succeed its current Chairman David Gonski, who is set to retire in October 2020. Gonski, who has been ANZ’s chairman… Read More ›
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Honda agrees to pay $85M to settle probe over potentially defective Takata airbag inflators
According to a consent order, Honda Motor Co has agreed to a settlement of $85 million following an investigation by most U.S. states into its use of defective Takata airbag inflators in its vehicles. The investigation by most U.S. states… Read More ›
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Teva Pharmaceutical Industries Ltd charged with price fixing of generic drugs: DoJ
The U.S. Justice Department has charged Teva Pharmaceutical Industries Ltd with charges including colluding to conspire with competitors to raise prices of widely used generic drugs, high cholesterol drug. “Today’s charge reaffirms that no company is too big to be… Read More ›
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Qantas to cut 2,500 jobs, outsources ground operations in Australia
On Tuesday, Qantas Airways Ltd stated, it plans on cutting up to 2,500 jobs and outsource its Australian ground handling operations as it braces for a $7.17 billion (A$10 billion) hit to its revenues caused by the Wuhan Coronavirus pandemic…. Read More ›
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Autonomous self-driving startup Luminar Technologies Inc to go public for $3.4 billion
On Monday, Luminar Technologies Inc, an autonomous vehicle startup stated, it has decided to go public by merging with blank-check firm Gores Metropoulos Inc in a deal worth around $3.4 billion. The deal includes $400 million of cash from Gores… Read More ›
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Barclays’ investment banking division appoints Manuel Esteve as head of its equity capital markets in Europe
On Monday in a statement Barclays’ investment banking division said, J.P. Morgan’s Manuel Esteve will head its equity capital markets in Continental Europe. Esteve has been a managing director at J.P. Morgan’s equity capital markets for nearly 2 decades, 18… Read More ›
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Citadel and Citadel Securities expand footprint in Asia-Pacific, opens new offices in Singapore, Shanghai and Sydney
On Monday, in a statement, Citadel, a Chicago-based hedge fund and Citadel Securities, which provides trading services to asset managers, banks, broker-dealers and hedge funds, said, it will open a new office in Singapore. Both businesses, which have offices across… Read More ›
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Rio Tinto trims bonuses of CEO and senior executives following destruction of ancient historic caves
On Monday, in a statement Rio Tinto said it will trim the short-term bonuses of its CEO as well as two other senior executives following a review of the company’s destruction of two historic caves in Australia in May which… Read More ›
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Explosion at Arab gas pipeline causes total blackout in Syria: SANA
On Monday, Syria’s state news agency (SANA) reported, an explosion on the Arab gas pipeline has caused a total blackout in Syria. The explosion occurred between the Ad Dumayr and Adra areas in Syria. In a statement, Syrian oil minister… Read More ›
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Chairman of Australian wealth manager AMP Ltd resigns
On Monday, Australian wealth manager AMP Ltd stated, its chairman had resigned and the CEO of its funds management unit will be demoted, following concerns about alleged inappropriate conduct by the latter. In June 2020, AMP’s board, chaired by David… Read More ›
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