Even in the face of a global shortage of semiconductor chips for the auto industry and a delivery delays because of congestion at ports hitting its production, a surge in profits for the latest completed quarter was reported by the… Read More ›
Entrepreneurship
Private equity firms scramble to exit from China’s education sector
With China enacting a new law that bans private tutoring firms from making a profit from teaching core school subjects and raising capital, private equity investors are scrambling to exit the sector after pouring billions of dollars into it. With… Read More ›
European Commission approves AerCap’s $30 billion bid for General Electric’s aircraft leasing business
On Tuesday, a filing on the European Commission website shows, the European Commission has approved AerCap’s $30 billion bid for General Electric’s aircraft leasing business without any conditions. The deal between the Irish aircraft leasing company and General Electric’s aircraft… Read More ›
Allianz sees insurance claims of at least $589M from storm Bernd
On Tuesday, German insurer Allianz said it expects insurance claims of more than $589 million (500 million euros) from storm Bernd, which caused massive flooding in parts of western Germany this month. Allianz’s estimate is the first estimate from a German… Read More ›
Giorgio Armani reports sales surge during first half of 2021
In a statement Giorgio Armani said, sales in the first half of 2021 has bounced back robustly after its business in the United States and China saw sales at the Italian fashion group return close to pre-pandemic levels. “The goal… Read More ›
Credit Suisse settles allegations of spying with former banker Iqbal Khan
In a statement, a spokesperson for Swiss banking giant Credit Suisse said, the bank has reached an out-of-court settlement with former star banker Iqbal Khan over allegations of spying that led to the resignation of its CEO Tidjane Thiam. “Everybody involved… Read More ›
Najib Mikati set to become Lebanon’s Prime Minister
On Monday, Lebanon’s former premier Najib Mikati, a wealthy businessman, is poised to be the country’s designated Prime Minister after winning the support of most major parties to form a new government. The development comes at a time when Beirut… Read More ›
European Commission to probe Facebook’s acquisition of Kustomer
According to three sources familiar with the matter at hand, Facebook’s acquisition of Kustomer, a U.S. customer service startup, is to face a full-scale EU antitrust investigation in August. In November 2020, Facebook announced the deal to acquire the startup… Read More ›
VW’s shareholders approve $339M compensation for former executives
Volkswagen’s shareholders have approved a deal to settle claims against four former executives, including long-time CEO Martin Winterkorn, with regard to its emissions cheating scandal. The initial deal, announced last month, sees Volkswagen receive $339 million (288 million euros) in… Read More ›
Collusion among British EV charging operators reduces competition in the EV charging market: CMA
On Friday, Britain’s competition regulator said, it has begun an investigation into some electric vehicle chargepoint operators on motorways and highways; the development comes at a time when it is laying out guidelines to ensure the rollout of a robust… Read More ›
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