Volkswagen and its partners will invest more than 20 billion euros ($20.38 billion) in a battery cell business, generating 20,000 jobs and aiming for annual sales of more than 20 billion euros by 2030 in order to compete with Tesla, which leads the burgeoning industry.   VW's PowerCo unit...

China issued stricter guidelines late Thursday to better control its $1.3 trillion credit card sector, asking lenders to pursue a "prudent" expansion strategy and continuously monitor risks.   According to rules jointly published by China's central bank and the country's banking regulator,...

A surge in Chinese company listing applications in June almost doubled China's IPO candidates to nearly 1,000, the biggest in at least three years, potentially making China a bright spot for bankers while equity offers lag in other markets.   According to bankers, the rush was prompted...

Due to the bank's failure to disclose certain currency swaps, the Commodity Futures Trading Commission (CFTC) said that JPMorgan Chase & Co. will be required to pay a $850,000 fine. The commission discovered that between September 2015 and February 2020, JPMorgan neglected to inform almost 2.1...

AO World, a British online electricals retailer, plans to raise around 40 million pounds ($47.7 million) in new capital to bolster its balance sheet and increase liquidity, just days after its stock fell on cash crisis fears.   The announcement came only two days after the business announced...

British Airways made an announcement regarding cancellation of further flights for the next summer break. The corporation made the decision during a period of significant airport interruptions brought on by employee shortages and a rise in air travel demand. British Airways announced that it will...

Following consumer group complaints, Amazon has made it easier for users to cancel their subscriptions to its quick shipping club Prime with only two clicks, according to the European Commission earlier this week.   In April of last year, the European Consumer Organization (BEUC), the...

With a decree seizing complete control of the Sakhalin-2 gas and oil project in Russia's far east, President Vladimir Putin has increased the stakes in an economic conflict with the West and its allies, potentially forcing out Shell and Japanese investors.   The decree, issued on Thursday,...

The government of India hiked its basic import duty on gold from 7.5 per cent to 12.5 per cent on Friday, as the world's second largest consumer of the precious metal seeks to reduce demand and reduce its trade deficit.   India imports the majority of its gold, putting pressure on the rupee,...