British mender HSBC will be exiting its mass market retail banking business in the United States, the bank has announced. It will be selling off some parts of the loss making business while the rest would be wound up. This is a part of the strategy of the company to focus on its business in…
Volkswagen has refuted a report published kin the British weekly magazine Autocar on Tuesday about an offer of 7.5 billion euro ($9.2 billion) was made to acquire its brand Lamborghini and the company’s Audi said that there were no plans of the company to sell of the supercar brand. The non-binding offer was reportedly made…
A collapse in clothing sales due to the Covid-19 pandemic was clearly reflected in the full year results of the British retailer Marks & Spencer which reported an 88 per cent year on year slump of its 2020 profits. The retailer added that its financial position is such that it is unlikely to be able…
Amid an environment of suspicion that its cars could be used for spying, the United States based electric car maker Tesla has announced the setting up of a new facility in China whioch will be used to store local user data. A new data center in mainland China has already been designed by it and…
One of the fallouts of the Covid-19 pandemic has been that companies have been pushed to adopt new technologies more rapidly which is being viewed as a boon for the Indian software company Tata Consultancy Services Ltd (TCS) as it has said that it is already experiencing some acceleration in some parts of its business…
For the first time this week on Wednesday, the price of Bitcoin clawed back to above $40,000 with volatility in the cryptocurrency market showing few signs of dampening. The price of Bitcoin jumped by 6.5% to $40,904. Prices of smaller crypto-currencies, which tend to rise and fall in line with the largest cryptocurrency, also climbed…
A deal for the acquisition of MGM Studios by Amazon is close to be achieved by the companies. MGM Studios is the co-owner of the James Bond franchise as well as other film and TV series. The deal is expected to be between $8.5 billion and $9 billion, claimed reports quoting information from people familiar…
Strung severely by the sanctions imposed on it by the United States, the Chinese tech giant Huawei has recently reported losses in business. However the company is now trying to claw back from the hit because of the US sanctions to its mobile phone business and is set to launch its new Harmony operating system…
The $39 billion acquisition of the United States based firm Alexion by the British pharma giant AstraZeneca is being reviewed by the competition regulator of the United Kingdom because of its concerns that the company formed by the merger will have a negative impact on completion in the industry in the UK and elsewhere. Comments…
Pressure is increasing on the global restaurant chain McDonald’s in the United Kingdom to turn to plant-based foods in its menu with activists from campaign group Animal Rebellion blockaded distribution centres of the company in the country. The group said that lorries of the company were prevented from leaving McDonald’s four distribution centres in the…
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