According to the 2-year long investigation, Nike blocked cross border sales of soccer merchandise between 2004 to 2017. On Monday, the European Commission imposed a fine of $14.14 million (12.5 million euros) on U.S. sportswear maker Nike for restricting cross-border sales of merchandising products of five European football clubs as well as to a football…
Inmarsat Plc top shareholder Lansdowne Partners and the company’s directors consider the terms of the deal to be “fair and reasonable” and expect shareholders to unanimously vote in favor of it. In a significant development, a private equity-led consortium has agreed to acquire Inmarsat Plc for nearly $3.4 billion in cash. In 2018, the British…
Uber is on the lookout for expanding its areas of business even as its tries to strengthen its core business competency. According to two sources familiar with the matter at hand, Uber Technologies Inc is likely to offer more than $3 billion for acquiring its Dubai-based rival Careem Networks FZ. As per a third source,…
Alcon will be listed in the New York Stock Exchange and on the Swiss Market. On Friday, Novartis stated, Alcon – its eye care business which it spun-off, is expected to be listed at the New York Stock Exchange and on the Swiss Market on April 9. “Alcon obtained approval for listing on SIX Swiss…
Negotiations with Boeing are ongoing. Garuda Indonesia has said, it could switch the order with other Boeing models. Airbus SE jets are not, yet, being considered. On Friday, Fuad Rizal, the Chief Financial Officer of Indonesia’s national carrier Garuda Indonesia stated, the airlines has sent a letter to Boeing Co asking it to cancel an…
The testing, likely to happen in a Boeing simulator, will include a scenario similar to the one faced by pilots from Lion Air and Ethiopian Airlines which led to the crashes. In a development aimed at restoring the faith in Boeing jets following two fatal crashes, pilots from American Airlines are likely to test its…
The current agreement, which builds on the 2017 partnership, is aimed at boosting and supporting each other, so that they can better compete in the global EV market. On Wednesday, Toyota Motor Corp and Suzuki Motor Corp stated, they plan on producing electric vehicles (EVs) and compact cars for each other so as to better…
Excluding one-off items, Tencent Music Entertainment Group earned 0.57 yuan per American depositary share in the quarter, in line with analysts’ average estimate, according to IBES data from Refinitiv. In a significant development, China’s hugely successful content streaming firm Tencent Music Entertainment Group delivered its first earnings report as a public company. Although its result…
With this strategic move, Facebook is trying to easing into the online retail market which is dominated by the likes of Amazon.com Inc and Walmart Inc. Facebook-owned Instagram stated, it is testing a feature that allows U.S. users to shop and purchase items that have been tagged for sale through its “checkout” feature. The unveiling…
The operations of Norsk Hydro, one of world’s biggest producers of aluminum, have been affected. On Tuesday, Norsk Hydro, one of the world’s biggest producers of aluminum, stated it was subject to a sustained cyber attack that affected its operations. The development sent its shares plummeting downwards, “IT-systems in most business areas are impacted and…
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