Crude oil prices decreased on Thursday following a rally caused by potential disruption to oil flows from Iran due to reimposed U.S. sanctions on the country. But the losses were limited as the market coped with concerns about dwindling Venezuela’s crude production and with decline in U.S. crude inventories. The United States has planned to […]
Category: Business
Goldman Sachs is reported to be negotiating with Apple over a joint credit card launch. The proposed card would help market Apple Pay, bolster Goldman’s brand as consumer- and tech-friendly, and adversely affect Apple’s existing credit card conjoined with Barclays. Goldman, as a move to expand its foothold in consumer finance recently acquired the companies […]
Tesla CEO Elon Musk has bought 33,000 shares of Tesla for a price of $9.9 million. Musk already holds about 22% of the company’s shares and this was the first purchase of Tesla stock Musk has made recently. Musk’s purchase comes at a time when he ignored two Wall Street analysts’ questions calling them boring. […]
The French government has refused to interfere in the conflict between Air France managers and employees over wages. The group’s chief executive has resigned because of a rejected pay deal. Employees have resorted to strikes which already have cost the company 300 million euros. The staff Unions have been demanding a salary hike of 5.1 […]
The US state of California, whose economic ranking is calculated as if it were a country has overtaken the United Kingdom’s GDP value and has become the fifth largest economy in the world following the United States, China, Japan and Germany. Financial services, Real estate, Information sector which includes technology companies and Manufacturing sector have […]
Elon Musk, the CEO of Tesla Inc. acknowledged that it was “foolish” of him to ignore questions about Tesla’s capital requirements raised by two Wall Street analysts at a conference call earlier in this week. His rebuff has resulted in a drop in Tesla’s share price and has raised questions about the company’s ability to […]
American business magnate Warren Buffett’s company Berkshire Hathaway has bought a whopping 75 million shares of Apple in addition to the 165.3 million shares that it already owns. With Thursday’s closing price of $176.89 per Apple share, Berkshire owns Apple stocks worth $42.5 billion. This makes Berkshire the third largest Apple shareholder, behind Vanguard and BlackRock. […]
Telecom giant Nokia is selling Withings, its digital health subsidiary which was acquired in 2016 back to its co-founder Eric Carreel. The digital health business wasn’t making revenue as expected and hence, Nokia plans to focus on becoming primarily a business – to – business and licensing company. Terms of the deal have not been […]
Singapore Airlines plans to operate its newest plane, the Airbus 350-900 ULR along the longest non-stop flight route departing from Singapore towards New York for a duration of about 20 hours. The flight’s interior is designed to enhance convenience and comfort during the long flight. Instead of using conventional aluminum construction techniques, the aircraft’s fuselage […]
Amazon, the retail giant has made an offer to buy 60% of Flipkart, the Indian e-commerce firm. This comes when Walmart is close to signing a deal to buy 60% of Flipkart for $12 Billion, with a $20 Billion valuation. Amazon’s offer includes a deal break-up fee of $2 Billion to assure that Amazon is […]