In a significant development, Russia’s top lender Sberbank said, it is developing an entirely domestic cloud infrastructure following Western sanctions which have caused issues with its foreign cloud partner. Western countries have imposed sanctions on Russian banks. Sberbank has started developing technology… Read More ›
In a statement Volkswagen’s Chief Financial Officer Arno Antlitz said, it stop producing a number of combustion engine models by the end of this decade, and sell fewer cars overall as it increases its focus on producing more profitable premium… Read More ›
On Wednesday, in a statement Adecco Group said, it has agreed to acquire AKKA Technologies for $2.4 billion (2 billion euros) and merge it with its own Modis tech brand. The acquisition’s synergy stems from the fact that AKKA’s its… Read More ›
In a development that marks and underscores the massive impact the coronavirus is having on the oil industry, Exxon Mobil Corp stated, it will keep its fourth-quarter dividend flat at 87 cents a share. This is the first time since 1982… Read More ›
On Wednesday, in a statement Ericsson reported that its core quarterly earnings have lifted thanks to higher margins across its businesses. It said it is “more confident” in meeting its 2020 revenue targets. It third-quarter adjusted operating earnings rose to… Read More ›
Coca Cola will now reclassify its financial statements from second quarter in 2019 to include CCBA as part of its continuing operations. It did not provide an explanation for the postponement of its re-franchising plans. In a development that marks… Read More ›
Investors are starting to lose confidence in local companies weighed down by a mountain load of debt.
Europe is also staring at a similar scenario. According to financial data, with the outlook of Wall Street’s earnings facing a significant deterioration in recent months, the risk of the United States slipping into a recession has become a major… Read More ›
Elliot is pushing Pernod Ricard to boost its margin and growth potential and come on par with its British rival Diageo; it also wants better corporate governance from the group. Despite stating that French drinks group Pernod Ricard’s results were… Read More ›
Since North America is Toyota’s largest market, an increase in tariffs, especially in its best selling pick-up truck models is likely to boost the cost of its vehicles by at least $3,000. On Friday, Japanese automaker Toyota Motor Corp posted… Read More ›
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