Canadian company Bombardier Inc’s train business will be purchased by the French transport infrastructure company Alstom SA and the tow companies have reached a preliminary deal to that effect. The deal will be worth more than $7 billion on an enterprise value basis. This was first reported on Bloomberg on January 21 and later by…
In a statement Twitter said, the official Twitter account of the Olympics and the International Olympic Committee’s (IOC) media Twitter account had been hacked and has been temporarily locked. Twitter’s statement also mentioned that these accounts were hacked through a third-party platform, without giving further details. “As soon as we were made aware of the…
According to sources familiar with the matter at hand, the U.S. government is weighing options which include stopping General Electric Co from continuing to supply engines for China’s passenger jet. The development will cast a shadow of uncertainty over China’s efforts to enter the civil aviation market. The potential restriction on the sale of plane…
Tariffs on aircraft made in Europe will be increased by the United States as its president Donald Trump tries to exert more pressure on the European Union in the long running dispute over government subsidies of private airplane makers. The tariffs on airplanes made in Europe would be increased from the current 10 per cent…
The last quarter of 2019 was a very poor one for the German economy, showed official figures for the country. There was almost no change in the Gross domestic product (GDP) or the total production of goods and services, for the country in the last three months of last year compared to the previous quarter.…
A U.S. judge has allowed Amazon.com Inc’s motion to temporarily halt the U.S. Department of Defense and Microsoft Corp’s $10 billion cloud computing deal which Amazon said was reflective of President Donald Trump’s undue influence. In November 2019, Amazon, which had been seen as a front-runner to win the cloud computing contract, had filed a…
In a statement by Canadian telecom operator Telus Corp’s Chief Financial Officer Doug French, the telecom operator is scheduled to roll out 5G services with the help of Huawei Technologies Co Ltd’s equipment. “It’s important for us to launch our network when the time is right…” said French in a statement while adding the company…
British network Three is set to join its larger rivals as it rolls out 5G mobile services in major cities including London, Birmingham and Glasgow, from the end of the month. Owned by Hong Kong’s Hutchison, Three launched a 5G home broadband product in central London in 2019. At that time, Three’s Chief Executive, Dave…
According to sources close to the matter at hand, online luxury fashion retailer MyTheresa plans on taking advantage of the robust equity market by listing on the New York Stock Exchange. MyTheresa’s owner, Neiman Marcus, is working with Morgan Stanley on the planned listing, which could be as early as April, said sources. Both, Morgan…
In a statement, the U.S. government said, it was issuing a 45-day extension to Huawei Technologies Co Ltd which allows U.S. companies to continue doing some business with it. The development comes in the wake of the Trump Administration adding the Chinese company to an economic blacklist in May 2019 citing national security concerns. The…
