In what is the latest model in a sweeping overhaul of the carmaker’s line-up under Chinese ownership, Volvo Cars showed off its first compact SUV with the launch of its new XC40 model.   Volvo has been put on course for a fourth straight year of record sales by the success of its XC90 and...

Primarily due to its $6.6 billion leveraged buyout in 2005, $400 million in interest payments on its debt every year was being made by Toys “R” Us Inc. The biggest bankruptcy of a U.S. retailer since that of Kmart in 2004 resulted this week as it succumbed to its debt burden.   Given that...

Despite the appearance of finality to the matter, there still lurks an element of uncertainty given Western Digital Corp’s earlier position on the matter. As per three sources with knowledge of the talks, Toshiba Corp has selected U.S. private equity firm Bain Capital to buy its NAND chip business....

Australia’s insurance market is an attractive proposition for foreign insurers given the size of its population and the growth rate of its economy. According to two sources with direct knowledge of the matter at hand, Hong Kong-based insurance firm AIA Group Ltd is close to acquiring Commonwealth...

The European Commission is going to propose to introduce stricter control over foreign financial companies that conduct business in the EU. This measure is supposed to expand the control of European regulators over London, Europe's largest financial center, after Britain leaves the block, Reuters...

The glut in the global oil pool which resulted in oil prices touching rock bottom have put enormous pressures on oil companies. European oil companies are now increasingly expanding into renewable energy sources as they seek out new sources of revenues for the future. On Tuesday, oil major Total...

The accountancy firm has attributed the drop in its revenues due to global uncertainties, including Britain’s Brexit referendum, unexpected results of Britain election as well as that of the U.S. On Monday, Accountantcy firm PricewaterhouseCoopers LLP reported that its UK profits of 822 million...

Based on its recent $8 billion acquisition of audio and auto parts supplier Harman and its pole position in mobile communications markets, South Korea’s Samsung Electronics Co Ltd plans to become a major player in autonomous driving.   Together with a $300 million fund to invest in...

An Israeli start-up, whose battery technology can charge electric vehicles in a matter of minutes, has saw investments to the tune of millions from Mercedes-Benz owner Daimler.   The trucking arm of the German automotive giant would partner with the firm to adopt its FlashBattery...