An era ended at the Chinese e-commerce giant Alibaba with the stepping down of its founder chairman Jack Ma on Tuesday. The company that he had cofounded in 1999 became one of the largest internet based company in the world. Ma is also considered to be one of the most recognizable businessmen globally from China…
Even as the ousting of its former chairman Carlos Ghosn is still hurting Japanese car maker Nissan, the company’s CEO Hiroto Saikawa has resigned. Analysts say that this could affect the company’s efforts of a turnaround since the company business has been struggling in the wake of the global controversy surrounding the arrest and subsequent…
A stronger than expected and across-the-board rise of 0.3 per cent in economic activity in the month of July has helped recede the fears of a recession, the first in a decade, that was looming on the British economy. Following a dismal spring and early summer, the first month of the third quarter saw growth…
South Korea’s largest automotive company Hyundai Motor had joined the joint venture of Volkswagen, BMW, Daimler and Ford – called Ionity, which is engaged in development and manufacture of electric vehicle charging points and equipment in Europe. This announcement was made by the joint venture on Monday. The aim of the joint venture is to…
The airline safety body of the European Union has said that it would conduct its own tests for safety of Boeing’s 737 Max planes before it allows the crafts to fly again and will not automatically accept the flying recertification by the United States FAA in this regard. This is a marked departure from its…
“Revenge porn” has become one of the most profit making business sections for the owners of porn streaming site Pornhub, claiedm a news report from the BBC, which also added that the site also is failing to remove such videos once even after they are objected to and reported. The report quoted one woman, “Sophie”…
Any more rate cut by the central bank of Europe could do more harm than good, warned Germany’s top banker. “It will have serious side effects,” Deutsche Bank CEO Christian Sewing said Wednesday at a banking conference in Frankfurt. When the European Central Bank meets later this month, both investors and companies expect that there…
Controversy has struck the Spanish retailer Zara in China after the company decided to keep some of its stores closed in Hong Kong when the island city was expected ot experience violence because of the pro democracy protests. A call for the boycott of the company has been given by thousands of Chinese on social…
When the work place sharing company WeWork had acquired he trade mark “We” from the company’s founder and CEO Adam Neumann, he had been paid for it. Neumann has now returned about $5.9 million worth of stock which was paid to him originally as compensation for acquiring the trademark. It had was unwinding the agreement…
A law suit that is aimed at preventing the proposed acquisition of Aleris Corp by Novelis Inc’s in a deal worth $2.6 billion was filed by the United States Justice Department on Wednesday over concerns that the merger could result in increased costs for aluminum sheets that are used to manufacture cars in the country.…
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