A quarterly profit and a positive cash flow were reported by General Electric Co on Wednesday which surprised analysts and the market. This performance was driven by cost cuts and improvements in its power and renewable energy businesses. The shares of the company rose by 10 per cent on the news. For the third quarter,…
There will not likely be an overall pick up in travel spending anytime soon, Mastercard said on Wednesday while also warning that the timing and the availability of Covid-19 vaccines will be the determinant for a recovery in cross border volumes of travel. There is still a significant impact of the pandemic on international travel,…
A immune response that as found to be similar among older and younger adults was produced by the under-trial vaccine candidate against Covi-19 being developed by the British pharmaceutical giant AstraZeneca. The trial also fund that the potential adverse responses to the vaccine among the elderly were lower, said AstraZeneca, which is developing its potential…
Visa Inc’s $5.3 billion acquisition of fintech startup Plaid Inc is facing antitrust scrutiny following the U.S. Justice Department filing a court petition on Tuesday demanding more information on the transaction. The DoJ is reviewing the proposed deal to check whether it violates provisions of antitrust law. It has filed a petition with a U.S. district…
Shares of auto insurance startup listed at $27 a piece following its initial public offering (IPO), above its target range, said two sources familiar with the matter at hand, The startup had aimed at raising $663.7 million. Following the IPO, Root, which has $200 million in debt, was valued at $6.7 billion. It had initially…
Data for the late stage trial of its vaccine candidate against Covid-19 is not yet ready to be published, said drug maker Pfizer Inc on Tuesday. The company is developing the vaccine in partnership with Germany’s BioNTech SE. Any interim efficacy analyses had not yet been conducted by the independent monitor that is tasked with…
Conclusive evidence of water being present on the Moon was revealed by the United States space agency NASA after dropping hints days ago of a an “exciting new discovery about the Moon”. Nasa’s hopes of establishing a lunar base will be boosted by this “unambiguous detection of molecular water”. The agency plans to tap into…
The global economy could lose out on trillions of dollars because countries and governments are yet to get together to draw a consensus about how to safely restart travel in the midst of the novel coronavirus pandemic, said the chief executive of Dubai Airports. “We don’t have an agreed testing procedure for a reliable, accurate…
The Chinese fintech giant Ant Group seems to be completely ready to make the biggest ever stock market debut in the world. Shares worth about $34.4bn on the Shanghai and Hong Kong stock markets is to be sold by the company which is backed by Jack Ma – the billionaire founder of e-commerce platform Alibaba.…
According to the founder of the Chinese fintech giant Ant Group, Jack Ma, the huge dual listing of the company in China will turn out to be the largest ever in the world when calculated on the basis of a pricing determined on Friday night. “It’s the first time that the pricing of such a…
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