An investment of $400 million by the sovereign wealth fund of Saudi Arabia was returned back to the investors of the Middle Eastern country by Endeavor talent agency, essentially following up on its promise not to establish any new ties while also eliminating older ties with the kingdom as a mark of opposition to the…
There has been a contraction in the manufacturing activity in China for the third consecutive month in February 2019 according to data released by China’s National Bureau of Statistics. The Purchasing Managers’ Index (PMI) dropped to a level below the expectations of analysts. This level also marks the lowest level of the official manufacturing PMI…
The Luxury British car manufacturer maker Aston Martin is in the process of making continuous investments in the development and manufacturing of new models and a second manufacturing unit as a part of its turnaround strategy and this drove down the adjusted pre-tax profits for the company in 2018. The company reported a year on…
According to Public Relations experts, Chinese tech company Huawei is in fact benefitting from the extensive and global coverage that the company is getting because of the call of the United States to ban the company and its urging of the its allies to do the same. The US fears that the telecom equipment supplied…
Owner and founder of US electric car maker Tesla, Elon Muskm is again embroiled in a controversy with the Securities and Exchange Commission (SEC) of the United States. A US judge has been asked by the SEC to hold Elon Musk in contempt for violating a settlement agreement which resulted in a drop in the…
As a part of its restructuring plan and to further focus completely on its core business some of the peripheral businesses are being sold off by the once sprawling conglomerate General Electric. The company announced the selling off its biopharma business to Danaher Corp. for $21.4 billion. Last year, revenue of $3 billion was generated…
Car maker Peugeot has announced that its portfolio would soon have a full-electric version of its new-generation 208 hatchback and some of its smaller cars would be made more upscale by the addition of newer technology and materials that one can usually find in the more costly high end cars made by the company such…
Economic growth could be hampered by the continuance of the acrimonious trade war between the two largest economies of the world into current year, warned Danish shipping group and one of the largest shipping companies in the world Moller-Maersk as it announced its financial performance for the fourth-quarter wherein the earnings were in line with…
Keeping the eventuality of a no deal Brexit, Barclays announced a provision of £150 million. The company said that the amount had been apportioned for “anticipated economic uncertainty” related to Brexit. This was stated by the bank as it announced a profit of £3.5 billion for 2018 which was virtually the same as the previous…
German industrial giant Siemens is joining hands with electric-plane start-up Eviation for the development of an aircraft that would be powered by batteries. The company said on Wednesday that the German industrial conglomerate would help out the electric-plane start-up to design and develop the motor of the planned electric powered passenger plane by the startup.…
