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S&P downgrades Israel's ratings to 'A+' from 'AA-' due to rising geopolitical risks 04/22/2024

IMF Worried About Debt And The Financial Difficulties Low-Income Nations Face 04/20/2024

Power And Risk Are Created By China's EV Survival Game 04/24/2024

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Business & Finance

BP buys BHP shale business in the US for $ 10.5 billion

Energy giant BP Plc agreed to pay $ 10.5 billion for most of the US shale assets of the Anglo-Australian mining giant BHP Billiton Ltd. This is the largest acquisition of BP in almost two decades, Bloomberg reports. The deal will ensure BP's presence in the Perm basin. The company will also receive...

Shell Quarterly Earnings Short Of Estimates, Announces A Share Buy Back Program

A $25 billion share buyback program was announced by oil giant Royal Dutch Shell after the company reported a 30 per cent in rise in net profit for the second quarter of 2018 year-on-year. $4.69 billion was the net income attributable to shareholders on a current cost of supplies...

Qualcomm Drops $44 Billion NXP Acquisition Being Unable To Get Chinses Approval On Time

After being unable to get approval for the acquisition of NXP Semiconductors and becoming an example of a victim of the trade spat between the United States and China, US firm Qualcomm Inc was forced to cancel the $44 billion deal. The scrapping of the deal that would have marked the...

AMS Plans To Explore Sensor Market Space For Self-Driving Cars

In a bid to expand, the sensor supplier for Apple’s phone is now eyeing the autonomous vehicle industry. AMS is a chipmaker from Austria which is mostly recognised as a sensor-supplier for iPhone X of Apple, whereby the company has plans of expanding into sensor manufacturer of “self-driving cars”...

These Brands Sold By GM A Year Ago Are Making Millions For New Owner

The brand Opel and Vauxhall were a source of huge loss for General Motors and they were sold off by the US car manufacturer about a year ago. However, those very brands have turned out to be cash cows for their new French owners and are making hundreds of millions. In the first six months...

Saudi Arabia Urges Rivals To Bid Against GE For Large Power Projects: Reuters

Saudi Arabia – amongst the most critical clients of General Electric Co, is looking at other companies to rival GE to bid for a lucrative power plant work, claims a new report by news agency Reuters. While it is reported that talks about investments in the sector is ongoing with two...

Investors divested € 38 billion from European funds amid trade war fears

In June, European investors were withdrawing cash from mutual funds at the fastest pace in almost five years. The outflow was € 38.3 billion amid fears of a global trade war, the Financial Times reported. Equity, bond and money market funds based in Europe saw a net outflow of at least € 11 billion...

Parliamentary Committee Report Urges Public Consultation For Banning Fur In UK

The United Kingdom government has been given urged to hold a public consultation in order to ascertain whether it can be feasible to put a ban on the import and sale of animal fur in the country after setting in Brexit. The call was given in an in an inquiry report that was published by the...

Saudi Aramco to buy up to 70% stake in SABIC petrochemical company

State Oil Company of Saudi Arabia Saudi Arabian Oil Co. (Saudi Aramco) intends to acquire a controlling stake in the petrochemical company SABIC, and possibly all 70% of shares owned by the sovereign fund of Saudi Arabia. This is reported by Reuters with reference to two sources familiar with the...

Ailing Sergio Marchionne Replaced By Mike Manler As CEO At Fiat Chrysler

The board of directors at Fiat Chrysler Automobiles announced on Saturday that its ailing chief executive officer (CEO), Sergio Marchionne would be replaced for the position by high-ranking in-house executive Mike Manley. It has been over a month that Marchionne, 66, has not appeared in...