The latest financial results from the United States based ride hailing company Uber shows that Latin America turned out to be its biggest weak spot as the company noted just 2 per cent growth in the region, its worst for any region, and even as the company continued to lose money. Latin America has traditionally…
The vast number of risks the business faces has been detailed by Saudi Aramco, the state owned oil giant of Saudi Arabia that is set to launch its long-awaited initial public offering this year. The details of the risks being faced by the largest oil company of the world were mentioned in its prospectus that…
On Monday, an official from China biggest auto industry association stated, fewer new energy vehicles (NEV) are likely to be sold in China in 2019, compared to the previous year, following a cut in subsidies by the government. The comments made by Chen Shihua, assistant secretary general at China Association of Automobile Manufacturers (CAAM), after…
On Monday, Alibaba Group Holding Inc stated, sales from its annual Singles’ Day shopping event touched $22.63 billion (158.31 billion yuan ) in the first nine hours, up by 25% from 126.72 billion yuan a year earlier. China celebrates Singles’ Day as a shopping festival much like Black Friday or Cyber Monday. It has grown…
Following a tweet from David Heinemeier Hansson, a tech entrepreneur, which alleged a discrimination in Apple Inc’s new credit card algorithms that are used to determine credit limits, a probe has been initiated into Goldman Sachs Group Inc’s credit card practices. According to Hansson’s tweet, Apple Card has given him a credit limit that is…
The finance ministers of the European Union have called on the economic block to completely stop al funding to oil, gas and coal projects. Experts estimate that if this measures is followed up, it would potentially lead to cancellation of annual investments worth €2bn. The EU finance ministers pointed out their concerns directly at the…
The world famous Disneyland in Hong Kong is being hit hard because of the political unrest and sometimes violent protests ongoing for almost five months now demanding more democratic rights from China. Despite reporting strong earnings for the latest quarter, Disney also pointed out to the increasing losses that the company is making for its…
Rings and shrink wrap used in its millions of multipack cans that are primarily made up of single use plastic will be replaced by Heineken with alternative cardboard materials that are much more eco-friendly in nature. This change will be implemented by the Dutch company starting April of 2020 in a phased manner across its…
Charges of spying for Saudi Arabia have been brought against two former employees of Twitter in the United States. Personal information about Twitter users including some of the established and known critics of the Saudi government were sought by the Saudi agents according ot the charges that were unsealed on Wednesday in San Francisco. Ali…
According to reports published recently, an offer worth about $33 billion in cash and stocks has been made by the United States based printer maker Xerox Holdings Corp for personal computer maker HP Inc which is three times the size of Xerox. The bid from Xerox was confirmed by HP but did not disclose the…
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