HSBC intends to strengthen risk management at its Hong Kong subsidiary Hang Seng Bank as a result of concerns about a possible increase in bad loans in the face of escalating economic challenges and the property sector crisis in China, according to a Reuters reports quoting information from two persons with knowledge of the situation.…
Just hours after surpassing Amazon, Nvidia surpassed Google-parent Alphabet to take the third spot as the most valuable American corporation on Wednesday, with investors awaiting the leading AI chipmaker’s next quarterly report. The stock of the Santa Clara, California-based corporation increased by 2.46%, making it worth $1.825 trillion, while Alphabet’s stock increased by 0.55%, making…
A fresh charge of 200 million euros ($214.62 million) at its ailing Space unit muted the cheers of record aeroplane orders and higher deliveries, but Europe’s Airbus announced a special dividend on Thursday. The largest commercial aircraft manufacturer in the world reported that core adjusted operating profit increased 4% to 5.8 billion euros while revenue…
Tuesday saw the dominating AI chipmaker Nvidia close in on Alphabet as Wall Street’s third most valuable business, surpassing the latter’s market valuation for the first time in 20 years. After falling 2.15 percent, Nvidia’s stock value of $1.78 trillion eclipsed that of Amazon, the market leader in cloud computing and online commerce, whose value…
Targeting new oilfields that can turn a profit even in the event that oil prices drop to about $30 per barrel, oil majors are reshaping their portfolios in light of the uncertain future of the sector. This is the third year of increased demand. Despite recent strong earnings, investors have not retracted from oil stock…
According to people with firsthand knowledge of the situation, Indian non-bank lenders are considering alternatives to Paytm for loan disbursement because they are concerned about the regulatory issue that the company is facing and how it may affect lending services going forward. Due to consistent regulation violations, the central bank ordered Paytm’s banking division to…
According to inspection records accessed by Reuters, Elon Musk’s SpaceX was fined $3,600 last month by US worker safety inspectors following an incident at the company’s Washington state location that resulted in a “near amputation.” According to a late-year Reuters investigation, Musk’s rocket company ignored conventional operating procedures and worker safety laws at its locations…
The Indian Express revealed on Sunday that Israel’s Tower Semiconductor has put in a bid to construct a $8 billion chip manufacturing plant in India. In order to implement its proposal, Tower plans to manufacture 40 and 65 nanometer chips domestically while pursuing government incentives. One of Prime Minister Narendra Modi’s top business priorities is…
According to reports on Sunday, an approximately $25 billion cash and stock merger between rival U.S. shale oil producers Diamondback Energy and Endeavour Energy Resources is almost complete, creating an oil and gas business valued at over $50 billion. According to the people, Diamondback may make an announcement as soon as Monday that would give…
Xiaomi, a Chinese company, informed the Indian government that their stringent oversight of Chinese businesses has discouraged suppliers of smartphone components from opening offices in India, according to reports quoting information based on a letter and a person with direct knowledge of the situation. According to the letter dated February 6, Xiaomi, which holds the…
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