The Swiss bank Credit Suisse lost nearly $4.7 billion as well as the jobs of its two top executives because of the collapse of US hedge fund Archegos Capital last month. After taking a charge of 4.4 billion Swiss francs ($4.7 billion) in relation to the failure of Archegos, the bank was likely to report…
Thailand will consider as its “principal vaccine” against Covid-19 the coronavirus shot developed by AstraZeneca and the University of Oxford with this Asian country trying to reopen and revive its tourism industry which is a crucial one for the country, said the country’s public health minister in an interview to a television channel. There were…
Following reports of the better than expected and record deliveries made by the United States based electric car maker Tesla in the first quarter of the year, the shares of the company surged on Monday to the extent that the company is now poised to add about $50 billion to its market value. The strong…
The clothing major H&M has been warned by the Chinese government that it would not be able to earn a penny from the Chinese market if they refuse to purchase cotton that is produced in the Xinjiang region of the country. There is a strong social backlash in China against H&M and other western brands…
The findings of a World Health Organization draft report says that the an animal was the probable mode of transfer of the novel coronavirus that causes Covid-19 and its spread had possibly started not more than a month or two prior to the first cases were noticed in December 2019 in Wuhan city of China.…
China’s answer to the video sharing social media platform YouTub, which is banned in the country – Bilibili, has slumped on its debut at the stock market soon after they were launched on the Hong Kong stock exchange. The share price of the company opened at HKD$790 ($101.6), which is 2.2 per cent below their…
A financial crisis at a United States based hedge fund will likely have severe impact on the profits of two of the largest investments banks, the banks have warned recently. The crisis is likely to have a large and significant effect on the results for its next quarter, said Switzerland’s second largest bank Credit Suisse.…
After a long time since its block buster initial public offering (IPO) in the United States was jeopardized by a row over its market valuation, the US based workspace sharing firm WeWork will now be attempting to go public again – this time through the route of a merger with blank-check firm BowX Acquisition Corp.…
The first luxury brand to be hit by the Chinese backlash to Western accusations of abuses in Xinjiang was Burberry which lost a Chinese brand ambassador while its hallmark tartan design was brushed away from a popular video game in the country. A number of organisations and individuals in the UK were sanctioned by China…
The latest tech company to venture into the area of manufacturing electric vehicles is China’s Xiaomi Corp plans which plans to use the factories of Chinese auto maker Great Wall Motor Co Ltd’s factory, said a report published by the news agency Reuters. Following the publication of the news, the stocks of Xiaomi went up…
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