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Hybrid-Focused Auto JV For Asia To B Soon Announced By China’s Geely And Renault: Reuters

According to reports published in the news agency Reuters quoting sources, the Chinese auto maker Geely Holding and French Renault are expected to announce a deal soon to jointly construct the Chinese automaker's hybrid vehicles in South Korea and explore into potentially exporting...

Qatar Airways Files Lawsuit Against Airbus Over A350 Jet Damage Row

Qatar Airways has filed a lawsuit in the United Kingdom against plane maker Airbus alleging skin faults on A350 passenger jets, moving the two parties closer to a rare legal battle over aviation safety, the airline has said.   The firms have been at odds for months about damage to a...

Indian Regulator Suspends 2019 Amazon-Future Group Deal Due To Information Suppression

Amazon.com's 2019 pact with Future Group was postponed by India's antitrust commission on Friday, potentially delaying the e-commerce giant's attempts to block the sale of Future's retail assets to an Indian market leader.   The US corporation had withheld facts when seeking regulatory...

In A Rare Move, Unilever Consumer Goods Veteran Hired By Chanel As CEO

Earlier this week, fashion and luxury goods power house Chanel chose Leena Nair, a former Unilever executive, as its next global CEO, appointing a consumer products veteran to lead one of the world's largest luxury goods companies.   Nair spent 30 years at Unilever, most recently as the...

Lilly’s Forecast Of 2022 Profits Higher Than Market Estimates; Confident Of Approval Of New Drugs

The pharma giant Eli Lilly raised its earnings outlook for 2022 compared to estimates by Wall Street, as the company cited business growth because of approvals for new medicines which it expects to offset the impact of competition and pricing pressures on its other major therapies.   This...

Apple’s Market Value Nearing The Historic $3 Trillion Mark

On Monday, Apple Inc's market valuation was just short of $3 trillion as the stocks of the iPhone maker continued its spectacular run over the previous decade. The company has been classified already as the most valuable firm of the world.   On Monday, the share prices of the company dropped...

VW's Spanish Unit SEAT Increased Production Curb For December Due To Chip Shortage

Fresh cuts on production and output for December has been imposed by the Spanish unit of German auto company Volkswagen – SEAT, at the company’s primary car assembly plant close to Barcelona. The company has decided to shut down the factory for five days. The closure decision was taken in lieu of...

Moderna Urges Its Investors To Have Patience Till Full Data On Its Flu Vaccine Is Presented

After a slump in the stock price of Moderna Inc on Friday following initial test results of the company for its flu vaccine candidate, executives of the company urged its investors to not sell off stocks and wait for the company to publish more data.   On Thursday, the company released...

Apple Very Close To $3 Trillion Market Cap – Larger Than India’s Economy

Just over a year after surpassing the $2 trillion barrier, Apple Inc is on the verge of hitting a $3 trillion market value, which would make as large as the fifth largest economy of the world - after Germany and ahead of the total economy of India.   Apple's stock was up 1.6 per cent at $174...

Rise In Demand For Tobacco Alternatives Prompts BAT To Maintain Its Forecast

British American Tobacco said that 2021 will be a "pivotal year," as it reaffirmed its full-year profit and sales expectations, supported by strong demand for its "new categories" products.   Its shares, which have fallen 3 per cent this year, climbed 1.75 per cent to 2,671 pence in morning...

Moderna Stocks Slide As Its Mrna-Based Flu Vaccine Unable To Ace Existing Vaccines

Stocks of pharma company Moderna Inc fell 11 per cent after preliminary results suggested that the firm's mRNA-based flu vaccine could not be robust enough to provide it a competitive advantage over currently licenced flu vaccines on the market, particularly for elderly persons.  ...

Ratings Of Evergrande And Kaisa Cut By Fitch To Default As The Chinese Firms Missed Debt Repayment Deadlines

Rating agency Fitch reduced ratings for developers China Evergrande Group and Kaisa Group to "limited default" owing to non-payment of offshore bond dues, while a source claimed Kaisa had begun work on restructuring its $12 billion offshore debt.   Even though Evergrande and Kaisa have...
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