New record in terms of revenues from sale were set by Chinese e-commerce giants Alibaba and JD.com for the Singles Day shopping event with a total of $115 billion in sales across their platforms. The Singles Day event, also known as Double 11 because it happens on November 11, was extended this time not by…
On Monday, when the pharmaceutical giant Pfizer had made the announcement of the positive data about its coronavirus vaccine, the CEO of the drug maker, Albert Bourla, had also filed to sell millions of dollars of his company’s stock. After Pfizer and European drug company BioNTech said that results from its early data suggested that…
Its first loss in its 94 years as a publicly-listed company was reported by Marks & Spencer as the novel coronavirus pandemic severely hit its business. A loss of £87.6m was reported by company in the six months to 26 September, compared to profits of £158.8m that the company had reported in the same period…
It has been quite some years that Asia’s richest man Mukesh Ambani has been trying to reduce the reliance on oil for his company. And this week showed why. Following a fall in the share price his conglomerate plunging as much as 8.6 per cent, the wealth of top billionaire of Asia was wiped off…
With oil prices recovering from spring lows, a surprise profit for the third quarter was posted by Chevron Corp helped by its spending cuts which propped up its operating results. A plummeting of demand for fuel and crude oil prices that stayed about 40 per cent of what the price was at the beginning of…
A new body that will deal with the thorny questions revolving around the future of transportation including self-driving cars and electric vehicles us being launched by a group of business leaders and public policy experts. The new body is called the Commission on the Future of Mobility and was launched last week. A new regulatory…
The novel coronavirus pandemic has hit the global aviation industry the hardest with demand for air travel past historic lows. Airlines are struggling to cope up with the decline in air travel which in turn has affected the other industries in the aviation sector. A reflection of this as seen in Japan where the plans…
International coffee chain Starbucks said that it expected a strong growth in its sale next year, the company said. The company expects a 17 per cent and 22 per cent jump in same-store sales in the United States and the Americas respectively for next year. And a yet larger – between 25 per cent and…
Marriott Hotels chain has been fined £18.4m by the data privacy watchdog of the United Kingdom for a major data breach in which data of up to 339 million guests could have been compromised. The cyber attack could have resulted in names, contact information, and passport details of millions of guests being stolen or mishandled,…
Black franchise owners of McDonald’s accused the fast-food giant of racial discrimination for steering them to underperforming stores and filed a lawsuit that could potentially run into billions of dollars. The law firm representing 52 Black former franchisees who filed a similar lawsuit on August 31 filed the proposed class action and it as led…
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