Author Archives
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Saudi Arabia’s Public Investment Fund takes out its first ever $11 billion international syndicated loan
The development assumes strategic importance since the development is part of a package aimed at diversifying Saudi Arabia’s oil-export driven economy. In a development that marks the first commercial borrowing by Saudi Arabia’s top sovereign wealth fund, the Kingdom’s Public… Read More ›
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UK’s economic outlook “significantly worse” in case of no-Brexit deal: IMF
In its assessment, the International Monetary Fund stated a myriad unresolved issues still need to be ironed out before Brexit’s March 29 deadline. A no-Brexit deal will significantly impact the country’s economy. On Monday, the International Monetary Fund disclosed, Britain… Read More ›
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Swiss financial watchdog raps Credit Suisse for non-compliance to Swiss anti-money laundering processes
FINMA’s investigation has focused on Credit Suisse failing to combat corruption in cases linked to soccer body FIFA and Venezuelan and Brazilian state oil companies. On Monday, Swiss finance industry watchdog FINMA stated, the operations of Swiss multinational investment bank… Read More ›
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Tesla shifts gear from ‘production hell’ to ‘delivery logistics hell’
Irrespective of which hell it is trying to get out of, luxury carmaker Tesla is moving ahead and streamlining issues surrounding its electric car lineup. Shareholders would be particularly thrilled if it latches on to profitability. In a development that… Read More ›
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China could hit at the core of the U.S. manufacturing supply chain machinery: Lou Jiwei
The suggestion by Lou Jiwei, a former finance minister, would feed the most hawkish sentiments in the Trump Administration and would attract a sharp retaliation from the U.S. With U.S. President Donald Trump expecting to announce new tariffs on U.S…. Read More ›
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Amazon’s CEO, Jeff Bezos, commits $2 billion towards CSR
Jeff Bezos’ new philanthropic aims to create the Bezos Day One Fund which will have sub funds catering to various interest groups, including providing full scholarships to pre-schools children in low-income communities and support existing NPOs that offer shelter and… Read More ›
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Henri Bendel’s brick-and-mortar stores and website to close on Feb 1, 2019
The closure of Henri Bendel by L Brands Inc, its parent, brings an end to a company which opened its first store in New York’s Greenwich Village in 1895. The owner of Victoria’s Secret – L Brands Inc – stated… Read More ›
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Chung Eui-sun appointed to chief vice chairman of Hyundai Motor Group
Chung Eui-sun role includes helping the company manage trade dynamics in major markets midst a deteriorating global trading condition. On Friday, Hyundai Motor Group disclosed it has appointed Chung Eui-sun, who was so far vice chairman of the Hyundai Motor… Read More ›
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Hershey Co acquires Pirate Brands from B&G Foods for $420 million
The acquisition will bring health conscious snack brands such as Original Tings, Pirate’s Booty, and Smart Puffs to its portfolio. Hershey Co disclosed its all-cash deal wherein it would be acquiring Pirate Brands from B&G Foods Inc for $420 million…. Read More ›
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Nissan signs up U.S. Open champion Naomi Osaka as its next brand ambassador
The move is aimed at tapping Osaka’s youth, drive and Japanese roots to appeal to younger client base. On Thursday, Japanese automaker Nissan Motor Co stated, it has signed up U.S. Open champion Naomi Osaka as its next brand ambassador…. Read More ›
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