Uber refused to renew its license to work in London, one of the key markets for taxi services. Inspection of the company by the British regulator revealed several thousand violations: for example, drivers took orders without a license. The British state-owned enterprise Transport for London (TfL, a...

Paytm, the largest digital payments company of India and backed by the Japanese investment conglomerate SoftBank, has managed to raise $1 billion in a funding round that was headed by the US-based asset manager T Rowe Price.   SoftBank and Ant Financials are among the major investors in this...

Novartis buys The Medicines Co, a US-based biotechnology company, for about $ 9.7 billion. The Swiss pharmaceutical company aims to expand its portfolio of anti-cardiovascular drugs. Novartis will pay $ 85 per share in cash, which is about 24% higher than The Medicines Co shares at $ 68.55 at the...

Tough preconditions for the selection of suppliers for construction and running of 5G mobile networks has been adopted by the countries of the European Union on Friday. The conditions included strict vetting of the domestic legal framework that will be used for subjecting examination of the...

Aston Martin pitches its hopes of reviving its revenue flow by selling its new SUV. Earlier this year, Aston Martin has witnessed its shares sink as sales remained below the expected levels following a “stock market flotation”. Now the company has come out with its “first sport utility vehicle”, on...

Civil penalty orders have been sought against the Australian bank Westpac by the Australian anti-money laundering regulator AUSTRAC for lack in oversight in anti-money laundering and terrorism financing cases.   It has been alleged that breach of the Anti-Money Laundering and...

Morgan Stanley’s altered payout grid pushes advisers in the lower rung to work harder in 2020 to earn the same amount as they did in 2019. On Tuesday, November 19, 2019, Morgan Stanley pushed the financial advisers to either “generate more revenue or get customers to sign up for comprehensive...

The U.S. Department of Commerce has extended 90-day authorization for US companies to partner with Chinese telecommunications company Huawei Technologies. This was reported by the press service of the department. This will allow operators to continue to serve customers in some of the most remote...

The auto industry is taking the race to reach first the Chinese market with their respective EV products very seriously. Here is another development in the competition to release electric vehicles in China, as Volkswagen AG and SAIC Motor Corp Ltd have begun their “$2.5 billion electric vehicle”...