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Latest News

Australia's Star Proposes Crown Acquisition In $7 Bln Play

With Plummeting Downloads, Android App Being Launched By Clubhouse

Reader's Pick

Indian Food Delivery Giant Zomato To Go Public Through $1.1 Billion IPO 04/28/2021

Unilever Beats Quarterly Forecasts Helped By Home Cooking And China Recovery 04/29/2021

Huawei Trying To Enter Electric Vehicle Industry As It Tries To Acquire A Small Automaker’s EV Unit 04/29/2021

US Restarts Use Of J&J Covid-19 Vaccine After A 10-Day Pause 04/24/2021

Sales At Durex-Maker Reckitt Driven By More Sex And Fewer Colds 04/28/2021

Latest Business News
Australia's Star Proposes Crown Acquisition In $7 Bln Play

Australia's Star Proposes Crown Acquisition In $7 Bln Play

M&A

An all-stock buyout of larger rival Crown Resorts Ltd was proposed by Australian casino operator Star Entertainment Group on Monday. This offer valued Crown Resorts at A$9 billion ($7 billion) as Star joined the competition of Crown Resorts which also included two private equity giants who are also targeting to acquire the troubled company.   The share-swap takeover approach would create...
With Plummeting Downloads, Android App Being Launched By Clubhouse

With Plummeting Downloads, Android App Being Launched By Clubhouse

Companies

The live audio app Clubhouse is potentially planning to make a big expansion of its market as it announced the introduction of a test version of its app to Google's Android users in the United States on Sunday.     Early this year, CEO of the United States based electric car maker Tesla Elon Musk and others appeared in audio chats of the app which helped the app to become quite...
Worsening Chip Shortages Not An Issue For BMW To Confirm 2021 Targets

Worsening Chip Shortages Not An Issue For BMW To Confirm 2021 Targets

Companies

The German car maker BMW expects that its production in the second quarter will be hit because of the global chip shortage nut still said it was on path to meet its profit targets for 2021 even though it estimates raw material costs to be increasing.   A severe crunch of semiconductors for the auto industry globally had hit most of the auto industry around the world and many have been...
Surge In General Insurance And Retirement Business Helps AIG Beat Quarterly Profit Estimates

Surge In General Insurance And Retirement Business Helps AIG Beat Quarterly Profit Estimates

Companies

Better than expected profits for the first quarter was reported by American International Group Inc despite a hit to its business from winter storms and the mortality claims because of the Covid-19 pandemic as there was strong performance of the general insurance and life and retirement business units of the company which managed to offset the hit on other units,.   During the quarter, an...
Investors Of AstraZeneca Angered Over ‘Obscene’ Bonus Hike For CEO

Investors Of AstraZeneca Angered Over ‘Obscene’ Bonus Hike For CEO

Companies

There is increasing pressure on AstraZeneca over its decision to reward the company’s chief executive, Pascal Soriot, with a big increase in bonuses. A call on shareholders to oppose and vote against the policy had been given by three investor advisory groups.   The company plans to increase the maximum share bonus that can be awarded to Soriot, according to a long-term plan, to 650% of...
Saudi Aramco’s First Quarter Profits Beats Estimates With Rebound Of Oil Prices

Saudi Aramco’s First Quarter Profits Beats Estimates With Rebound Of Oil Prices

Markets

Strong oil prices helped the state controlled Saudi Arabian oil producer Aramco to report a 30 per cent year on year in net profits – beating estimates of analysts, while also maintaining its dividend payout on Tuesday.   There has been a rise in oil prices globally this year about one third with the surplus in global oil reserves because of the Copvid-19 pandemic coming down and there is...
A Subscription Based Service For Remote Working To Be Launched By Ericsson

A Subscription Based Service For Remote Working To Be Launched By Ericsson

Companies

A new subscription service for the employees engaged in remote working in North America was launched by the Swedish technology firm Ericsson on Tuesday.   Under this new subscription service, employees working from home – especially those of small businesses, would be able to begin working from home in minutes if they subscribe to licensed apps of the company which will also give them...
AstraZeneca Rakes In Sale Revenue Of $275 Mln For Its Covid-19 Vaccine In Q1

AstraZeneca Rakes In Sale Revenue Of $275 Mln For Its Covid-19 Vaccine In Q1

Companies

The Covid-19 vaccine developed jointly by the British pharmaceuticals giant AstraZeneca and University of Oxford has brought in the pharma company sale revenues of $275 million (227 million euros) during the first quarter of the current year.   This is the first occasion that the company has discloses figures of sales revenues of one of the leading Covid-19 vaccines of the world.  ...
Nestlé To Acquire Brands Of The Bountiful Company And Expand Its Health And Nutrition Portfolio

Nestlé To Acquire Brands Of The Bountiful Company And Expand Its Health And Nutrition Portfolio

M&A

Nestle SA will be acquiring The Bountiful Company in a deal worth $5.75 billion.   Brands like Nature's Bounty, Solgar, Osteo Bi-Flex and Puritan's Pride are among the assets that the Swiss company will be purchasing through this deal, Nestle said on Friday.   The health and nutrition portfolio of Nestle is expected to be boosted by this acquisition which is expected to be completed...
Huawei Trying To Enter Electric Vehicle Industry As It Tries To Acquire A Small Automaker’s EV Unit

Huawei Trying To Enter Electric Vehicle Industry As It Tries To Acquire A Small Automaker’s EV Unit

Companies

The largest telecom equipment maker of the world Huawei is making a strategic shift in its business strategy and is now trying to enter into the area of electric vehicle making. According to a report published by the news agency Reuters, the Chinese firm is now holding talks for taking control of a small domestic automaker's electric vehicle unit.   Sources with knowledge of the matter...
Unilever Beats Quarterly Forecasts Helped By Home Cooking And China Recovery

Unilever Beats Quarterly Forecasts Helped By Home Cooking And China Recovery

Companies

A strong recovery of the Chinese economy as well as increased cooking at home by consumers forced to stay back home because of the Covid-19 pandemic induced restrictions helped Unilever to comfortably beat quarterly sales forecasts on Thursday.   The company said that starting in May this year, it would start top a share buy back program  which would be for as much as 3 billion euros...
Sales At Durex-Maker Reckitt Driven By More Sex And Fewer Colds

Sales At Durex-Maker Reckitt Driven By More Sex And Fewer Colds

Companies

Consumer goods giant Reckitt has noted a rise in sales of condoms in marketing including China where there has been an easing of lockdowns. For the first quarter, double digit growth in the sale of Durex compared to the same period last year was reported by the company.   But with lesser number of consumers stocking up on cold and flu medicines, there was a drop in demand for health...

World

Following Tit-For-Tat Sanctions, Ratification Of EU-China Trade Deal ‘Suspended’

Following Tit-For-Tat Sanctions, Ratification Of EU-China Trade Deal ‘Suspended’
Following tit-for-tat sanctions that were imposed kin March over the China’s treatment of its Uyghur population, the efforts to ratify a massive investment deal between China and the European Union...

Recovery Plans and Major Infrastructure Projects: Drawing Inspiration from France?

Recovery Plans and Major Infrastructure Projects: Drawing Inspiration from France?
The disastrous economic consequences of the COVID-19 pandemic and the subsequent national lockdowns have put unprecedented pressure on governments across the globe. Kickstarting economies through...

'Double Mutant' Variant Of The Covid-19 Virus Found In India

'Double Mutant' Variant Of The Covid-19 Virus Found In India
Examination of the Covid-19 samples collected from 18 states across India has revealed the existence of a new double mutant variant of the coronavirus as well as 771 others. Reports said that out...

WHO Europe Says Benefits Of AstraZeneca's Covid-19 Vaccine Outweigh Any Risk

WHO Europe Says Benefits Of AstraZeneca's Covid-19 Vaccine Outweigh Any Risk
Even as more than 20 nations of the European Union suspending the use of the Covid-19 vaccine from AstraZeneca, jointly developed with the Oxford University, over concerns of alleged blood clotting...

US Vows To Strengthen Military Support To Japan To Counter Chinese Aggression

US Vows To Strengthen Military Support To Japan To Counter Chinese Aggression
The new president of the United States Joe Biden has pledged to further strengthen the country’s partnership with Japan in countering the increasing military activity of China in the volatile...

People

US Restarts Use Of J&J Covid-19 Vaccine After A 10-Day Pause

US Restarts Use Of J&J Covid-19 Vaccine After A 10-Day Pause
The United States ended its 10-day pause for the use of the cxovid-19 vaccine from Johnson & Johnson and the country can now use the vaccine immediately.   The usage was halted to...

The Most Common Side Effects After Receiving Covid-19 Vaccine Listed By America’s CDC

The Most Common Side Effects After Receiving Covid-19 Vaccine Listed By America’s CDC
Data about the most common side effects reported by Americans after taking shots of the Covid-19 vaccine from Pfizer or Moderna was released by the United States’ Centers for Disease Control and...

Covid-19 School Closures Make More Children Vulnerable To Trafficking, Says UN Report

Covid-19 School Closures Make More Children Vulnerable To Trafficking, Says UN Report
According to a report prepared by the United Nations, children are being targeted at an increasingly greater extent all across the world and traffickers will likely take advantage of the Coid-19...

Pandemic Conspiracies About Him Surprises Bill Gates

Pandemic Conspiracies About Him Surprises Bill Gates
The volume of "crazy" and "evil" conspiracy theories about him that were being spread all across social media during the Covid-19 pandemic about the Microsoft co-founder turned philanthropist Bill...

More Than 1,200 Ventilators Donated To California By Tesla CEO Elon Musk

More Than 1,200 Ventilators Donated To California By Tesla CEO Elon Musk
Even though he had initially been skeptical of the coronavirus pandemic, Tesla chief executive office Elon Musk has since helped the authorities in California to acquire much needed medical supplies...

CSR