Its highest every quarterly loss of $5.9 billion was posted by Malaysia’s AirAsia X Bhd on Monday. This loss amount was eight times higher than what the company had reported for the same quarter a year ago. One of the… Read More ›
Strategy
Forecasts For America’s Growth For 2021 Cut Down By Economists, Shows New Survey
A new survey released on Monday shows that the hit of the surge of Covid-19 caused by the delta variant of the coronavirus in the United States prompted business economists to mark down their estimates and forecasts of growth for… Read More ›
Credit Suisse pays back $400M to investors in insolvent supply chain finance funds linked to Greensill
On Monday, in a statement Credit Suisse said, it is set to pay back another $400 million tranche to investors in insolvent supply chain finance funds linked to Greensill. “The fifth payment of proceeds from the recovery of assets underlying the… Read More ›
Rolls Royce sells ITP Aero unit to consortium led by Bain Capital Private for $2.0 billion
In a statement Rolls-Royce said, it has agreed to sell its Spanish unit ITP Aero for $2.0 billion (1.7 billion euros) to a consortium led by Bain Capital Private. The development sees the British engineering company closing in on its… Read More ›
Multiple ships of various nationalities supplying goods to North Korea in breach of UN sanctions: UK
In a statement Britain said, it had collected evidence of multiple ships from various countries apparently breaching United Nations sanctions on North Korea which ban the sale of fuel to the country. HMS Richmond, a British frigate, has been taking… Read More ›
UK’s Labour Party aims to impose new taxes on landlords and shareholders
Britain’s opposition Labour Party hinted that it would impose new taxes on the wealthy, including shareholders and landlords, if it comes to power at the next election. In an interview, Labour’s would-be finance minister Rachel Reeves said, “I do think… Read More ›
Huawei’s CFO Meng Wanzhou returns to China in quid pro quo
In a significant development, Huawei’s Chief Financial Officer Meng Wanzhou arrived back in China after fighting U.S. extradition for around three years, in yet another sign of weakening global clout of the United States. The move also reflects a change… Read More ›
Intensified Chinese Crackdown On Cryptocurrencies Caused Fall In Bitcoin And Ether Prices
The tough words against cryptocurrencies in general and bitcoin in particular from China resulted in a drop in eth value of bitcoin and ether Since Friday. According to Coin Metrics statistics, the price of bitcoin decreased almost 5 per… Read More ›
EU’s Plans For Mandating Common Charger Port For All Devices Opposed By Apple
In the face of opposition from Apple, the European Commission has proposed using of a single charger connector for all mobile phones, tablets, and headphones. According to an 18-page guideline issued recently, a universal charger for all manufacturers “would benefit… Read More ›
All Cryptocurrency Transactions Declared Illegal In China
The Chinese central bank has effectively outlawed all digital currencies such as bitcoin as it declared this week that it would be illegal to be engaged in all cryptocurrency transactions. “Virtual currency-related business activities are illegal financial activities,” the People’s… Read More ›
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