2023-07-29 17:08
Novo Nordisk has officially launched its highly acclaimed medication, Wegovy, in Germany. This introduction marks a significant milestone as Germany stands as the most prominent European mar… Read More
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Daily business and finance news updates
2023-07-28 18:10
Cryptocurrency exchange giant Binance and its CEO, Changpeng Zhao, have filed a motion to dismiss a complaint filed against them by the Commodity Futures Trading Commission (CFTC). The CFTC… Read More
2023-07-27 16:29
In a bid to capitalize on shopper traffic and consolidate its advertising ventures, Unibail-Rodamco-Westfield (URW) has unveiled its internal retail media agency, Westfield Rise. The move ha… Read More
2023-07-26 15:49
British entrepreneur Joe Lewis, founder of the investment firm Tavistock Group and reputedly worth $6.1 billion according to Forbes magazine, has pleaded not guilty to insider trading charge… Read More
2023-07-25 17:39
Banc of California and PacWest Bancorp have announced an all-stock merger that will create a powerhouse bank with assets totaling $36 billion. The merger is expected to reshape the banking l… Read More
2023-07-24 18:12
In a year marked by various obstacles, the U.S. refining industry is expected to witness a decline in profits compared to the record levels achieved in the previous year. However, despite th… Read More
2023-07-21 15:49
The 5th U.S. Circuit Court of Appeals has decided to reexamine its recent ruling on Tesla CEO Elon Musk’s alleged violation of federal labor law through a tweet about stock options and… Read More
2023-07-18 15:12
In a move to revolutionize the telehealth landscape, Teladoc Health is teaming up with technology giant Microsoft to integrate advanced artificial intelligence (AI) services into its telehea… Read More
2023-07-17 14:21
The directors of Tesla have agreed to return a staggering $735 million to address allegations of overpayment, concluding a contentious legal battle with a pension fund. The lawsuit, filed by… Read More
2023-07-14 12:01
Alex Mashinsky, the founder and former CEO of Celsius Network, has pleaded not guilty to multiple fraud allegations in the United States. Mashinsky faces seven criminal counts, including sec… Read More
2023-07-10 12:04
In a significant move aimed at addressing Brazil’s primary budget deficit, the government is set to propose an independent income tax reform, separate from Congress’ ongoing cons… Read More
2023-07-07 15:49
The Chinese government has announced a staggering 7.12 billion yuan ($984 million) sanction against Ant Group, effectively concluding a comprehensive regulatory overhaul of the prominent fin… Read More
2023-07-06 16:49
In a significant move that paves the way for the privatization of Rothschild & Co, Concordia has successfully acquired all of the permitted shares of the renowned investment bank. The ac… Read More
2023-07-05 15:22
General Motors (GM) has expressed concerns regarding the difficulties it may face in complying with proposed vehicle emissions rules put forth by the Environmental Protection Agency (EPA) an… Read More
2023-07-04 17:24
Meta Platforms, the parent company of Instagram and Facebook, is set to unveil Threads, a new microblogging application that aims to rival Twitter’s stronghold in the social media land… Read More
2023-07-03 16:44
AstraZeneca has announced the outcomes of a late-stage trial for its experimental precision drug, datopotamab deruxtecan, in the treatment of lung cancer. While the trial did demonstrate som… Read More
2023-06-29 16:25
Overstock.com is set to undergo a major transformation as it plans to rebrand itself as Bed Bath & Beyond. Following the acquisition of Bed Bath & Beyond’s intellectual propert… Read More
2023-06-28 16:19
Officials in the United States are contemplating stricter export regulations on artificial intelligence (AI) chips bound for China, focusing primarily on limitations on computing power.
The… Read More
2023-06-27 18:11
Inflation in Brazil has reached its lowest level in nearly three years, providing a glimmer of hope for the country’s struggling economy.
As of mid-June, the 12-month inflation rate st… Read More
2023-06-26 18:19
Blackstone has agreed to sell 14 million square feet of industrial properties to Prologis Inc. for $3.1 billion in cash. The acquisition marks a strategic move by Prologis to expand its pres… Read More
2023-06-25 14:59
Investors, led by Apollo Global Management, have committed to investing between $1 billion and $2 billion in debt to support the U.S. expansion of chipmaker Wolfspeed. This significant finan… Read More
2023-06-23 15:19
Honda has announced a major recall of 1.3 million vehicles worldwide, citing a problem with the rearview camera. The recall affects specific models of Odyssey, Pilot, and Passport vehicles a… Read More
2023-06-22 16:29
Online retailer overstock.com has emerged as the winning bidder in an auction for a portion of Bed Bath & Beyond’s liquidated assets. The transaction, valued at a significant $21.5… Read More
2023-06-21 09:36
UBS has announced its decision to eliminate several Asia investment banking positions at Credit Suisse. The move comes as part of the integration process following UBS’s acquisition of… Read More
2023-06-20 17:48
In a move that solidifies their energy partnership, Qatar has secured a second significant gas supply agreement with a Chinese state-owned enterprise. China National Petroleum Corporation (C… Read More
2023-06-14 17:11
Japan’s exports experienced an unexpected rise in May, marking the 27th consecutive month of growth, according to recent data. The increase, albeit modest at 0.6% annually, suggests a… Read More
2023-06-13 18:19
Overstock.com, the popular online retailer, has made a significant move in the retail industry by agreeing to acquire certain assets from struggling retailer Bed Bath & Beyond.
The deal… Read More
2023-06-06 18:06
The U.S. Securities and Exchange Commission (SEC) has filed a motion for a provisional restraining order against Binance, the largest cryptocurrency exchange. The SEC’s move comes in r… Read More
2023-06-05 17:55
US markets saw mixed results on Monday as investors weighed the possibility of the Federal Reserve pausing its interest rate hikes at its upcoming policy meeting. The S&P 500 ended the d… Read More
2023-05-31 17:44
Property prices in Australia have surged for the third consecutive month, as limited housing supply and robust demand continue to fuel the housing market. According to the latest data, natio… Read More
2023-05-28 18:12
In a strategic move to streamline its operations, AMP, a leading financial services company, has announced significant changes to its executive leadership and structural organization. Blair… Read More
2023-05-27 19:38
China and South Korea have reached a pivotal agreement to enhance their dialogue and cooperation regarding semiconductor supply chain matters. The breakthrough came during a high-level meeti… Read More
2023-05-26 16:51
Joele Frank, a prominent public relations firm, has filed a lawsuit against social media giant Twitter for unpaid invoices amounting to a staggering $830,498. The invoices, which have remain… Read More
2023-05-20 20:54
A federal magistrate in Illinois has dismissed a lawsuit that accused Mondelez International Inc, the multinational confectionery company, of misleading consumers about the mint content in i… Read More
2023-05-18 18:54
Warren Buffett’s Berkshire Hathaway has increased its stake in Occidental Petroleum, a major American oil and gas exploration and production company. The conglomerate purchased additio… Read More
2023-05-17 19:29
Micron Technology, with the backing of the Japanese government, has announced plans to invest a staggering 500 billion yen ($3.70 billion) in cutting-edge extreme ultraviolet (EUV) technolog… Read More
2023-05-14 22:24
Oil prices fell on Monday as concerns about fuel demand in the United States and China outweighed the impact of OPEC+ cuts and the US purchasing oil for reserves. Brent crude futures were do… Read More
2023-05-10 13:25
Microsoft has entered into a groundbreaking deal with nuclear fusion company Helion Energy. The private US company will supply Microsoft with electricity within five years, making it the fir… Read More
2023-05-08 14:59
Elon Musk has announced that Twitter will begin removing accounts that have been inactive for several years. Musk explained that this is “important to free up abandoned handles.”… Read More
2023-04-30 13:15
The banks overseeing the sale of Subway have provided the private equity firms vying for the sandwich chain with a $5 billion acquisition financing plan in the hopes of achieving the co… Read More
2023-04-18 21:44
Fox Corp has settled the defamation lawsuit brought by Dominion Voting Systems for $787.5 million, avoiding a trial that would have put one of the world’s largest media firms… Read More
2023-04-17 18:03
After letting supply contracts lapse, Aurubis AG, Europe’s largest copper smelter and manufacturer, no longer buys from Russia, its CEO has confirmed.
After Russia invaded Ukraine last… Read More
2023-04-16 21:12
The dollar rebounded from a one-year low as resiliency in core US retail sales, an increase in short-term inflation expectations, and impressive Wall Street bank earnings boosted market… Read More
2023-04-12 20:04
Oil prices have fallen following two days of gains, as investors remained concerned about a potential US recession and weakening oil demand.
By 03:52 GMT, Brent crude had fallen 20 cents, or… Read More
2023-04-11 21:29
Switzerland’s parliament has refused to approve the 109 billion Swiss francs ($120.5 billion) of financial guarantees used to rescue Credit Suisse last month, a move that is primarily… Read More
2023-04-10 22:42
Chinese consumer inflation rose at the lowest rate since September 2021 in March, as food prices fell, official data shows.
The National Bureau of Statistics reported that the cons… Read More
2023-04-09 21:10
Oil prices have remained relatively unchanged, as investors evaluated the likelihood of tighter supplies from OPEC+ producers beginning in May against concerns about weakening glob… Read More
2023-04-08 12:50
Baidu has filed lawsuits against “relevant” app developers and Apple over fake versions of its Ernie bot app available on the Apple app store.
The company’s Ernie bot, prop… Read More
2023-04-07 22:48
Deposits at US commercial banks increased for the first time in almost a month at the end of March, indicating stabilization after the two largest bank failures since the financial cris… Read More
2023-04-06 14:01
Glass Lewis, an investor advisory firm, has advised Barclays shareholders to vote against the bank’s executive compensation because of long-term bonuses awarded to its former finance c… Read More
2023-04-05 15:14
President of the Cleveland Federal Reserve Loretta Mester has said it is too early to tell if the Fed will need to raise its benchmark overnight interest rate at its next poli… Read More
2023-03-21 22:04
A former executive at Citgo Petroleum Corp who was imprisoned in Venezuela for nearly five years is demanding $100 million in damages from the firm on the grounds that it failed to prot… Read More
2023-03-20 21:49
Australia’s corporate watchdog announced on Tuesday that a former director of Tesla Inc’s Australian subsidiary was sentenced to two years and six months in prison, but will &hell…Read More
2023-03-19 20:13
UBS has agreed a deal to take over Credit Suisse, paying 3.23 billion Swiss francs ($3.23 billion) in stock and to assuming up to 5 billion Swiss francs ($5.4 billion) in losses, in a merger… Read More
2023-03-18 14:14
The European Central Bank (ECB) is likely to need to hike interest rates further, according to two prominent hawks on the bank’s policymaking Governing Council, who played down the lik… Read More
2023-03-14 21:56
Customers in Singapore will be able to transfer funds to and from their Coinbase accounts via local banks, The cryptocurrency exchange has announced.
Standard Chartered will facilitate… Read More
2023-03-12 22:21
The United Auto Workers (UAW) union said that workers at four local Caterpillar chapters have voted in favor of a new six-year labor contract, preventing a strike at the world’s l… Read More
2023-03-11 22:21
Hedge funds have offered to purchase startup deposits trapped at Silicon Valley Bank (SVB) for as little as $0.60 per dollar, according to a report from Semafor.
The bids vary from 60 to 80… Read More
2023-03-10 22:33
Next week’s crucial inflation data will test a US stock market already gripped by concerns over the Federal Reserve’s hawkishness and the potential consequences from the largest… Read More
2023-03-06 21:32
Facebook owner Meta plans to lay off thousands of employees as early as this week, just a few months after laying off around 11,000 employees, according to a report from Bloomberg… Read More
2023-03-05 22:31
Two former JP Morgan credit bankers have established a new advisory firm focused on emerging market infrastructure, with a minority ownership held by the alternative investments ar… Read More
2023-03-04 20:45
Italian state investor CDP is poised to approve a long-delayed non-binding offer for the fixed network of former phone monopoly Telecom Italia, according to reports.
CDP has partnered with t… Read More
2023-02-28 22:21
China’s industrial activity rose at the fastest rate in more than a decade in February, according to data released by the government, defying expectations as production soared followin… Read More
2023-02-27 21:58
Shinichi Uchida, the incoming Deputy Governor of the Bank of Japan (BOJ), has dismissed the possibility of a rapid revision of Japan’s relaxed monetary policy, stating that a… Read More
2023-02-26 18:12
Russian online bank Tinkoff has announced on that it will cease trading in euros beginning on Monday as a result of the adoption of additional European Union restrictions.
Late on… Read More
2023-02-25 22:13
Nokia manufacturer HMD Global Oy plans to build the capabilities and processes necessary to bring 5G device manufacturing to Europe this year.
The Finland-based company announced in a p… Read More
2023-02-24 21:47
The finance minister announced on Saturday that Thailand’s economy is likely to expand by 3.8% this year, aided by a comeback in the key tourist sector, while inflation should return t… Read More
2023-02-23 22:58
Former Mastercard CEO Ajay Banga has been nominated by US President Joe Biden to lead the World Bank, with the expectation that the India-born executive’s ties to the private sect… Read More
2023-02-22 23:12
Bank of America Inc (BofA) incurred $1.2 billion in litigation and regulatory investigative costs through 2022, including fines and settlements, according to a company filing.
The expense is… Read More
2023-02-21 22:13
Wall Street suffered its worst performance of the year on Tuesday, with the major indices closing in the red as investors interpreted a comeback in US economic activity in February as indica… Read More
2023-02-20 21:22
At its February policy meeting, Australia’s central bank, alarmed by the possibility that inflation could prove more persistent than anticipated, abandoned any notion of halting and si… Read More
2023-02-19 20:36
The dollar gained ground on Monday, bolstered by robust economic statistics from the United States, which traders believe will keep the Federal Reserve on a path of monetary policy tightenin… Read More
2023-02-18 20:40
Oil settled $2 per barrel lower on Friday and ended the week significantly lower, as traders fretted that future U.S. interest rate hikes could weigh on demand and became anxious over rising… Read More
2023-02-17 22:22
Microsoft and Nvidia drove the S&P 500 lower on Friday, as investors fretted that inflation and a robust U.S. economy could put the Federal Reserve on track for additional interest rate… Read More
2023-02-16 20:47
Tesla is recalling more than 362,000 U.S. vehicles to update its Full Self-Driving (FSD) Beta software following a decision from US regulators that the driver assistance syste… Read More
2023-02-15 22:14
National Australia Bank has announced a 19% increase in first-quarter cash earnings, aided by rising interest rates. However, the lender warned of headwinds as property prices decl… Read More
2023-02-14 20:28
Air India has sealed orders for a record 470 planes from Airbus and Boeing, speeding the resuscitation of a national icon under new owners Tata Group as Europe and the United States lauded N… Read More
2023-02-13 19:59
Monday’s Wall Street market indexes closed higher by more than 1 percent, while US Treasury yields declined, as investors wagered that major US economic data to be released on Tuesday… Read More
2023-02-12 21:22
Reserve Bank of Australia (RBA) Governor Philip Lowe is set to appear before parliament on Wednesday and Friday to answer questions in a hearing into the RBA’s anti… Read More
2023-02-11 15:25
The European Central Bank (ECB) must avoid driving real interest rates too high, a senior Italian policymaker has warned.
Ignazio Visco, a member of the ECB Governing Council and the go… Read More
2023-02-10 21:22
Risks associated with El Salvador’s adoption of bitcoin “have not materialized,” the International Monetary Fund (IMF) said, but the organization warned against further exp… Read More
2023-02-08 21:44
The US dollar has remained flat following comments from a number of Federal Reserve policymakers signaling moderate interest rate rises on the horizon, with investors looking … Read More
2023-02-07 21:34
Oil prices have risen for a third consecutive day, as the dollar declined following Federal Reserve Chair Jerome Powell’s less hawkish-than-expected comments on interest rates and as U… Read More
2023-02-06 21:17
Nissan is set to purchase a stake of up to 15% in Renault’s electric vehicle subsidiary Ampere, the two companies announced on Monday, reviving a lengthy and sometimes controversial re… Read More
2023-02-05 22:53
Carlyle Group has appointed former Goldman Sachs executive Harvey Schwartz as its next CEO, according to a report by Reuters.
The appointment of Schwartz, which the report say… Read More
2023-02-04 23:04
Japanese Deputy Chief Cabinet Secretary Seiji Kihara has emphasized the importance of an economy in which inflation rises steadily and sustainably.
“What’s important is… Read More
2023-02-03 18:36
The US Securities and Exchange Commission announced that Activision Blizzard has agreed to pay $35 million to settle accusations that it failed to have mechanisms in place to prope… Read More
2023-02-02 22:04
Japan saw the fastest growth in its services sector in three months during January, a business survey has revealed, as officials gambled on the country’s economic openness to… Read More
2023-02-01 21:24
Poland’s Office of Competition and Consumer Protection (UOKiK) has accused the European unit of e-commerce giant Amazon of misleading business practices.
The office… Read More
2023-01-31 07:35
Nissan shares have climbed following an announcement from the Japanese automaker and its French partner Renault SA of a comprehensive revamp of their two-decade-old partnershi… Read More
2023-01-21 19:21
Elon Musk has announced that Twitter plans to introduce a higher priced subscription to the social media platform, which will be ad-free.
The billionaire said that adverts&nbs&hell…Read More
2023-01-20 11:14
Cathay Pacific Airways Ltd has projected a fiscal 2022 loss between HK$6.40 billion ($817.18 million) and HK$7.00 billion, but underlined an optimistic outlook after Hong Kong and mainl… Read More
2023-01-18 16:41
BNP Paribas has confirmed it has secured all regulatory clearances necessary to complete the previously announced sale of Bank of the West to Bank of Montreal.
The deal is expected to b… Read More
2023-01-17 16:31
Ryanair CEO Michael O’Leary has played down fears of a recession, citing two weeks of record bookings in January and a rebound in demand from Britain.
OLeary, speaking to reporter… Read More
2023-01-16 12:48
Japan’s top economic policy panel has held its first set of talks over the medium- to long-term direction of fiscal and monetary policies, as well as the merits and downsides… Read More
2023-01-15 09:55
The annual inflation rate in Saudi Arabia increased to 3.3% in December from 2.9% in November, according to government figures released on Sunday, with housing costs driving price increases… Read More
2023-01-12 16:30
The Volkswagen Group has recorded its lowest sales in more than a decade, with COVID-19 lockdowns in China and Russia’s invasion of Ukraine disrupting supply lines… Read More
2023-01-11 16:03
The world bank has cut 2023 growth forecasts, reflecting the growing risk of recession for a number of countries as the impact of central bank rate hikes deepens, whilst Russia&rsq&hell…Read More
2023-01-10 13:40
Goldman Sachs now forecasts the euro zone economy to expand by 0.6% this year, backtracking on its previous prediction of a looming recession. The more optimistic outlook is the result of fa… Read More
2023-01-09 16:59
The US Supreme Court has ruled that a lawsuit by WhatsApp accusing Israel’s NSO Group of exploiting a flaw in the popular messaging app to install spy software can… Read More
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