Gloomy forecast of the global economy has resulted in a drop in global oil prices which have dragged down the profits of BP for the latest quarter. Underlying profits for the last three months of $2.3bn was reported by the… Read More ›
Strategy
More Action On Fake News Needs To Be Done By Facebook, Google And Twitter, Says EU
A “code of practice on disinformation” of the European Union – which is a voluntary agreement that details he measures to fight fake news on online platforms, was signed a year ago by Facebook, Google, Microsoft and Twitter. However the… Read More ›
Thailand’s SCG Packaging Pcl planning $1 billion IPO: sources
During the last couple of years, its sales as well as its profits have touched their all time high. According to two sources with knowledge of the matter at hand, Thailand’s Siam Cement Pcl’s packaging subsidiary is planning on floating… Read More ›
LVMH offers to acquire Tiffany & Co for $14.5 billion
The potential deal values Tiffany at about $120 per share as against its Friday’s closing price of $98.55. According to sources familiar with the matter at hand, LVMH, the owner of Louis Vuitton, has offered to acquire Tiffany & Co,… Read More ›
Warehouse giant Prologis Inc to acquire Liberty Property Trust for $12.6 billion
The deal has at least $120 million in cost synergy. In a statement, Warehouse giant Prologis Inc said, it has agreed to acquire Liberty Property Trust, a rival industrial real-estate business , for $12.6 billion. The deal is aimed at… Read More ›
Lazard appoints Louis Girodolle as CEO of Lazard Investment Banking in France
Louis Girodolle has his job cut out given the challenging market environments as well as the need to retain clients in the wake of Matthieu Pigasse’s resignation as the bank’s CEO and chairman. In a statement 171-year-old bank Lazard said,… Read More ›
U.S.-China close to finalizing Phase One deal
According to China trade experts, the completion of the Phase One deal is likely to provide little incentive for Beijing to negotiate any further, given the approaching U.S. presidential election in 2020. According to U.S. Trade Representative’s office and China’s… Read More ›
South Korea ready to give up its developing country status at WTO
While this will come into effect during future negotiations, it is to be seen how this will impact its agricultural sector. On Friday, in a statement South Korea’s finance minister stated, given its enhanced economic status, it is ready to… Read More ›
Mark Gifford appointed as chairman at British department store group Debenhams
Celine Jersey Topco is the parent of British department store group Debenhams. According to a statement from British department store group Debenhams, Mark Gifford, a former chief financial officer (CFO) at House of Fraser, has been appointed as the chairman… Read More ›
Tesla begins selling China-made Model 3 with autopilot in China
Tesla’s quarterly profit has come as a pleasant surprise to investors. According to Tesla Inc’s website, the U.S. carmaker has started selling its Chinese-made Model 3 electric vehicle with an autopilot function, which has a starting price of $50,310 (355,800… Read More ›
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