Oil majors Exxon Mobil Corp and Chevron Corp have been plagued for more than a year by issues of lower margins and refining weaknesses which were cited as their reasons for lower profits.   The worst margins in its refining business on gasoline and some of the other profits that it had been...

Uber updates its public filing for valuation expectations in the wake of Lyft’s poor performance post IPO. On Friday, April 26, 2019, the Uber Technologies Inc revealed its terms for IPO and informed the investors that the company will seek to sell out nearly “$10.35 billion in stock at a valuation...

A report published on Friday by Nikkei claimed that the Japanese car maker Renault will propose to its Japanese auto partner Nissan the setting up of a holding company in which the French government will hold 7 per cent stake in the new merged entity.   An informal merger proposal by Renault...

American oil and gas giant Chevron made a profit of $ 2.642 billion in the first quarter of 2019, which is 27.8% less than in the same period of 2018, the company said. The profit attributable to the parent company decreased by 27.2% compared with January-March last year, amounting to $ 2.649...

Conducting a criminal investigation in relation to the "unacceptable" leak of confidential discussions surrounding the role of China's Huawei Technologies in the construction of the 5G network supply chains in the United Kingdom could not be ruled out, said British culture minister Jeremy Wright on...

German automaker Volkswagen plans to make investments of 5.06 billion yuan ($750.8 million) for the construction of a new electric car factory in eastern Hefei city in China through its Chinese joint venture in the country with China’s Anhui Jianghuai Automobile Co (JAC), according to reports...

The efforts of Saudi Arabia to continue to attract global business tycoons into its fold is taking effect after the country and its events were boycotted by many of the business honchos following the global furore over the murder of journalist Jamal Khashoggi.   Top executives from the...

The Japanese auto giant Nissan issued a profit warning on Wednesday after its shares dropped by 4 per cent overnight at the Tokyo stock exchange as the company continued to adjust to a business performance minus its once celebrated chairman Carlos Ghosn.   According to the warning issued by...

Aramco of Saudi looks to enter refining joint venture by purchasing fifty percent stake in Royal Dutch Shell in Saudi. On Sunday, April 21, 2019, Saudi Aramco revealed that it plans on acquiring fifty percent stake of Royal Dutch Shell in Saudi. This way, the company seeks to enter in joint...