Author Archives
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Chevron Corp invests in nuclear fusion startup Zap Energy
In a statement Chevron Corp said, it is in the process of investing in nuclear fusion startup Zap Energy Inc, joining its peers Norway’s Equinor and Italy’s ENI, who have also backed the startup in order to reduce their carbon… Read More ›
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China’s banking industry likely to write-off bad debts worth $490 billion in 2020
According to a report from China’s Xinhua News Agency, China’s banking industry is expecting to expecting to write-off $489.91 billion (3.4 trillion yuan) of bad debts in 2020. These bad loans have cropped up due to Wuhan coronavirus. “The sector… Read More ›
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Thyssenkrupp sees first signs of stabilization in businesses
On Thursday, German conglomerate Thyssenkrupp said, some of its businesses were stabilising in the current quarter after taking heavy hits from the coronavirus pandemic. Thyssenkrupp has reported a fiscal third-quarter adjusted operating loss from continuing operations, minus the elevator business… Read More ›
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Taiwan’s central bank probing 5 foreign banks over grains firms’ arbitrage: Sources
According to fours sources with knowledge of the situation at hand, Taiwan’s central bank has commenced investigations on 5 foreign banks for their alleged involvements in a $8 billion in net trading positions on the deliverable forwards market. On Tuesday,… Read More ›
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Vietnam’s trade surplus expands to $2.8 billion in July 2020: Customs Department
Data released by the Vietnamese government on Wednesday shows, in July 2020, the country’s trade surplus widened to $2.8 billion from a $1.85 billion in June. Exports rose by 10.2% from June to $24.87 billion, while imports also grew at… Read More ›
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Sales volume to bounce back after COVID-19 pandemic: Eastman Kodak Co
In a statement, Eastman Kodak Co stated, it expects sales volume to jump back to normal levels once the COVID-19 pandemic eases; it also sees an improvement in its working capital after the intensity of the Wuhan coronavirus fades. The… Read More ›
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Azul SA, Brazil’s No. 3 airline, clinches deal to slash leasing costs, staves off potential Chapter 11 bankruptcy filing
In a statement, Brazilian airline Azul SA said, it had clinched an agreement with its aircraft lessors that would help it save nearly $594.61 million (3.2 billion reais) in working capital through 2021; the deal will see repayments from 2023…. Read More ›
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Chevron Corp proposes at least 50% stake worth $5 billion in Noble Energy
According to a proxy filing, Chevron Corp’s has proposed a $5 billion offer to acquire a stake of at least 50% in U.S. oil major Noble Energy. If Chevron manages to snag the deal, the all-stock merger will boost its… Read More ›
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New COVID19 outbreaks weighs on business confidence in Australia
In July, business condition in Australia rose with the service sector rebounding from a national lockdown; however confidence level took a direct hit following renewed Wuhan coronavirus outbreaks in the state of Victoria, Australia’s second most populous state. The country;s… Read More ›
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Companies not following U.S. Accounting Standards will be delisted as of 2022: U.S. Treasury Secretary Steven Mnuchin
In a significant development, U.S. Treasury Secretary Steven Mnuchin stated, companies listed on the U.S. stock exchange, including Chinese ones, which do not comply with accounting standards will be delisted as of December 2021. U.S. officials and Mnuchin had recommended… Read More ›
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