Author Archives
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France’s Societe Generale to divest stake in asset management arm Lyxor: sources
According to two sources familiar with the matter at hand, Societe Generale is gearing up to launch the sale of its asset management arm Lyxor with the French lender aiming to shore up its finances following two consecutive quarterly losses…. Read More ›
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China’s Guolian Securities Co acquires Sinolink Securities for undisclosed sum
In a move that marks the acceleration of consolidation in Chinese brokerage firms, China’s Guolian Securities Co said it will acquire Sinolink Securities Co through a share swap and stake purchase. The development comes at a time when financial conglomerates… Read More ›
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U.S. auto parts maker Garrett Motion Inc files for Chapter 11 bankruptcy
In a statement, U.S. auto parts maker Garrett Motion Inc said, it has filed for Chapter 11 bankruptcy protection, as its struggles with its heavy debt due to a payment settlement dispute with its former parent Honeywell International Inc. In… Read More ›
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HSBC & StanChart among other financial institutions transferred more than $2 trillion of illicit money
On Monday, shares of Standard Chartered’s and HSBC in Hong Kong fell vertically following media reports that the two banks along with other banks transferred large sums of allegedly illicit funds for nearly two decades despite the transfers being red… Read More ›
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Ericsson’s acquisition of Cradlepoint for $1.1 billion is its biggest in more than a decade
On Friday, Swedish telecoms giant Ericsson said, it has agreed to acquire U.S.-based wireless networking company Cradlepoint in a $1.1 billion deal. The deal is Ericsson’s largest acquisition in more than a decade. The acquisition will provide Ericsson access to… Read More ›
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Ford’s top selling pickup truck F-150 to go on sale this November
In a statement, Ford Motor Co said, it has commenced production of its new F-150 pickup truck at its Dearborn, Michigan, facility. It expects the F-150 to go on sale this November. The new F-150 launch is “on time and… Read More ›
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Tesla wins court battle against former employee accused of hacking & stealing gigabytes of data
According to court documents, electric carmaker Tesla Inc has won its case against a former employee, who was fired for hacking and transferring company data to third parties. In 2018, Tesla had filed a lawsuit against Martin Tripp, a former… Read More ›
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Delta Air Lines reaches tentative deal to trim pilots furloughs
According to an internal memo from Delta Air Lines, it has reached a tentative agreement with the negotiating committee of its pilots’ union to reduce the number of furloughs by 220, bringing the total number of furloughs to 1,721. The… Read More ›
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EU’s climate plan will see carbon prices double by 2030
Going by an analysis of a model created by the European Commission, carbon costs for Europe’s businesses is likely to double this decade under EU plans to deliver steep emissions cuts by 2030. On Thursday, the European Commission laid out… Read More ›
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U.S.-China investment slides to 9-year low
According to a research report, investment flows between the United States and China touched its nine-year nadir during the first half of 2020 due to increasing Chinese belligerence-induced tensions which could see more Chinese companies come under U.S. pressure to… Read More ›
