US oil and gas corporation ExxonMobil presented its results for the fourth quarter of 2020 and the whole year of 2020. The company posted a quarterly loss of $20bn, compared with a profit of $5.7bn a year earlier. ExxonMobil posted a loss of $22.4bn for the full year 2020 and recorded a profit of...

Several companies within the diversified conglomerate HNA Group have reported theft and misappropriation of funds totalling at least $9.8bn. The allegations came after HNA Group announced last Friday that it had filed for bankruptcy and reorganisation at the initiative of its court-appointed...

Playboy Enterprises plans to announce the acquisition of the sexual health retailer as early as Monday. Lovers operates online and through 41 shops in five US states. Playboy Enterprises may announce its acquisition of sexual health retailer Lovers on the first day of February. The chain, which...

A record annual loss of $12bn was reported by United States based airplane maker Boeing Co as it again delayed the launch of its all-new 777X jet and consequently booked a one time charge of $6.5bn charge for the delay in the programme.   The fall in demand for the largest jetliners of the...

A price cut for all of its all-electric iX3 SUV in China by the German automaker BMW has not pitted the models in direct competition with those offered by Tesla and other Chinese startups such as Nio.   The recommended retail price for the iX3 will start at 399,900 yuan ($61,713), BMW’s...

Australia is trying to break down the market dominating position of tech giants as its regulator prepares to bring in regulations that will allow Australian internet users to choose what personal data they want tech companies like Google to share with advertisers.   Putting a limit on the...

The Saudi authorities may put additional stakes in state-owned oil and gas company Saudi Aramco on the market in the coming years. This could happen if conditions are right, told Crown Prince Mohammed bin Salman of Saudi Arabia at Future Investment Initiative conference on Thursday. Saudi Aramco...

With Americans shifting their spending habits to online mores during the Covid-19 pandemic, the United States based retailer Walmart Inc said that it will add small robot-staffed warehouses to a number of its stores in the US to fulfil orders for pickup and delivery.   The company said that...

South Korean auto giant Hyundai Motor reported its best quarterly profit in more than three years and said that it expects a boost in sales for its vehicles in the United States and China for the current year driven by the launch of new electric vehicles and crossovers.   There was a 57 per...