The novel coronavirus pandemic drove global demand for hospital equipment needed to help patients battling the disease which helped the health technology company Philips to report much better than expected results for the recently concluded third quarter on Monday.   There was a 10 per cent...

In continuation of its strategy of exiting the slow-growth businesses, the largest food group of the world Nestle is all set to start off the process for selling off of its North American water brands including Pure Life and Poland Spring, said reports quoting sources familiar with the matter....

The United States plans to supply Taiwan with modern weapons worth about $ 5 billion, Reuters reported, citing a source on October 13. It is noted that the presidential administration presented to the US Congress two additional types of weapons to the previously agreed list - the Taipei MQ-9 UAV...

Mallinckrodt will be paying settlement amounts in instalments over a stretch of several years. On Monday, October 12, 2020, Mallinckrodt filed for acquiring “bankruptcy protection” as the company weighs under lawsuits that allege it to have facilitated the “U.S. opioid epidemic”. Moreover, in...

Morgan Stanley announced that it has reached an agreement in principle with asset management firm Eaton Vance to buy its business for $ 7 billion. The deal, according to a press release, will allow the American bank to strengthen its asset management division. Eaton Vance currently manages assets...

The United States based lender Morgan Stanley has agreed to acquire Eaton Vance, a US based asset management company, for a value of $7 billion, the bank said on Thursday.   According to analysts this deal is a part of the strategy of Morgan Stanley’s CEO James Gorman to further strengthen...

After functioning for 109 years, International Business Machines Corp – better known as IBM across the world, has decided to split up into two separate companies. Analysts say that this is the result of years-long effort of the company, which is credited to be the first big computing firm of the...

Citibank was fined $ 400 million in the US for "several long-standing flaws" in "risk management" and "internal control systems." This is stated in a statement released on October 7 by the Federal Reserve System (Fed) and the Office of Foreign Exchange Control of the US Treasury Department. It is...

Tesla has plans of ramping up its battery production capacity. Tesla Inc is all set to acquire “German ATW Automation”, the latter being an auto industry supplier of “assembling battery modules and packs”, revealed a source with the knowledge of the said transaction.   ATW is a subsidiary...