On Monday, cosmetic seller Coty Inc stated, it has agreed to purchase a 20% stake in reality TV star Kim Kardashian West’s makeup brand KKW for $200 million. With the news reaching the market, its shares went shooting up by… Read More ›
HR & Organization
Gilead Sciences prices COVID-19 fighting drug remdesivir at $390 a vial
On Monday, Gilead Sciences Inc stated, it has its COVID-19 fighting drug remdesivir at $390 per vial for the United States and for governments of other developed countries. As a result, a patient will have to shell out $2,340 for… Read More ›
Nissan CEO Makoto Uchida sticks to performance-linked policy promise
On Monday, Nissan Motor Co’s CEO Makoto Uchida told shareholders, he will stick to his pledge to step down from the helm of the company if he fails to deliver on his turnaround plan. “At the last extraordinary shareholders meeting… Read More ›
SoftBank undertakes corporate bonds repurchase program worth $1.9 billion to trim debt
On Monday SoftBank Group Corp stated, it will repurchase up to $1.9 billion (200 billion yen) of its domestic unsecured corporate bonds, from June 30 to July 17, as part of a plan to pare down its debt. SoftBank’s CEO… Read More ›
Profits drop by 50% at China’s state-owned firms during Jan to May period: Finance Ministry
On Monday, in a statement China’s Finance Ministry said, profits of its state-owned firms fell by 52.7% year on year for the period of January 2020 to May 2020, to $93.67 billion (663.1 billion yuan). ($1 = 7.0794 yuan)
U.S. Shale giant Chesapeake Energy Corp files for Chapter 11 bankruptcy protection
In a development that marks the biggest U.S. oil and gas producer seeking bankruptcy protection following heavy debts whose effects were compounded by the Wuhan coronavirus, Chesapeake Energy Corp has filed for Chapter 11 bankruptcy protection bringing an end to… Read More ›
The Worst Of The Coronavirus Crisis Has ‘Probably Passed’, Says ECB’s Lagarde
While expressing hope that the worst phase of the impact of the novel coronavirus pandemic on the world would be over, Christine Lagarde, the president of the European Central Bank, said that it is unlikely that the world and its… Read More ›
Bipartisan bill punishing China over draconian Hong Kong security law sails through U.S. Senate
In yet another significant development, the U.S. Senate has passed a bipartisan bill that imposes mandatory sanctions on companies and people that back China’s effort to restrict Hong Kong’s autonomy. The bill also includes secondary sanctions on banks that do… Read More ›
UAE and Israeli companies to work together to fight coronavirus pandemic
According to a report from WAM, UAE’s state-run news agency, two private companies from the country will collaborate with two Israeli companies on medical projects. The collaboration will include creating drugs to combat coronavirus which emerged from Wuhan, China. The… Read More ›
Major U.S. airlines to hold White House meeting today
According to three sources briefed on the matter at hand, th CEOs of major U.S. airlines are set to hold a meeting later today at the White House to convince the federal government to mandate temperature checks for passengers. The… Read More ›
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