Plans for transforming its consumer healthcare business into a separately listed company were revealed by GSK on Wednesday which would help the firm to further strengthen the process of drug development at the pharmaceuticals business unit of the company and have an 8 billion pound ($11 billion) windfall. It was in December 2018 that the…
Even though there are big questions about how the future of retail business, the French luxury goods giant LVMH is sure that it will be done mostly in physical stores despite the rise of online channels. “We see the future being two things: being mostly retail stores, because the client experience in a retail store…
The financial performance of Japan’s Nissan Motor Co for the months of April and May were much better than what was being expected, said the president of the auto maker during the annual general meeting (AGM) of the company on Tuesday. This announcement by the top executive of the company to the company’s shareholders was…
The president of Starlink, Gwynne Shotwel said on Tuesday that it expects that will be able to provide continuous internet coverage globally by September this year but the company will then require to obtain regulatory approvals to continue to offer its services. Starlink is the satellite internet unit of Elon Musk’s SpaceX. “We’ve successfully deployed…
The final regulatory approval for a partnership of the global classified ads businesses of Norway’s Adevinta and the United States based e-commerce group eBay have been granted to the two companies, the Norwegian firm said in a statement on Friday. This deal between the two companies was struck last year and it encompasses Adevinta acquiring…
The auto maker Volvo now plans to build its vehicles using steel that is manufactured through process that does not use fossil fuels by 2026. This is a part of a deal that could help the company to significantly reduce its carbon emissions from its vehicle manufacturing process. A letter of intent for commercialization of…
The United States based lending giant JPMorgan Chase is poised to make a large expansion in the retail banking space kin the United Kingdom and the US bank has now purchased the biggest digital wealth manager Nutmeg of Britain as a part of that expansion strategy. Nutmeg said in a statement that it currently has…
Current CEO of Microsoft Satya Nadella has been selected to become the chairman of company, the tech giant said on Wednesday and will replace independent director John Thompson through a unanimous voting at the board of the global software company. This appointment also reflects the success that Nadela had achieved as the CEO of the…
The revenue for 2020 amassed by the Chinese owner of TikTok, ByteDance, more than doubled, said reports quoting sources with knowledge of the matter. According to the reports, the senior management at the company told employees in a company-wide meeting that it had generated revenue of $34.3 billion in 2020 which marked a growth of…
According to reports in local newspapers in South Korea on Wednesday, the South Korean business of eBay will sold by the American company to local retailer Shinsegae Group’s e-Mart Inc and web portal operator Naver in a deal worth about 4 trillion won ($3.6 billion). According to Euromonitor, with a market share of about 12.8…
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