Business & Finance News
After years of largely banking on low-cost Russia for growth, OMV is shifting attention towards the Middle East as its chemist chief executive chases his vision of making the Austrian oil and gas group a major supplier of plastics.
European shares rallied and the euro took a sharp hit on Tuesday in a knee-jerk reaction to European Central Bank President Mario Draghi’s comments indicating a possibility of new rate cuts or asset purchases.
Sweden’s AB Volvo is joining forces with U.S. chipmaker Nvidia to develop artificial intelligence used in self-driving trucks, the companies said on Tuesday.
Raytheon Co said on Tuesday it has teamed up with Northrop Grumman Corp to develop and produce engines for hypersonic weapons that can travel 4,000 miles per hour.
Facebook Inc revealed plans on Tuesday to launch a cryptocurrency called Libra, the latest development in its effort to expand beyond social networking and move into e-commerce and global payments.
Facebook Inc revealed plans to establish a cryptocurrency called Libra on Tuesday. It will be run by an association comprised of other corporate investors and non-profit members, with an expected launch in the first half of 2020.
Sweden’s AB Volvo is joining forces with U.S. chipmaker Nvidia to develop artificial intelligence used in self-driving trucks, the companies said on Tuesday.
Volkswagen said on Tuesday it would put 5,000 digital experts into a new unit called “Car.Software” by 2025 as the German carmaker aims to develop at least 60% of its software in-house by then, up from less than 10% currently.
Most Asian stock markets rose on Tuesday but gains were capped by investor caution ahead of a U.S. Federal Reserve policy decision, while crude oil prices dipped as global growth worries overshadowed supply concerns.
Renault’s alliance with Japanese partner Nissan remains French Finance Minister Bruno Le Maire’s priority ahead of any further consolidation with the likes of Fiat-Chrysler, he said on Tuesday.
China’s Alibaba Group Holding Ltd on Tuesday unveiled its most significant business reshuffle since co-founder Jack Ma announced his pending retirement, as the e-commerce firm looks to bolster its investment focus in the face of slowing growth.
Air Lease Corporation said on Tuesday it had signed long-term lease placements for two new Airbus A320neo and two Airbus A321neo LR aircraft with Japan’s Peach Aviation Ltd.
China’s Alibaba Group Holding Ltd on Tuesday said its chief financial officer, Maggie Wu, will oversee the firm’s strategic acquisitions and investments unit, as part of a business and management reshuffle at the e-commerce giant.
China’s Alibaba Group Holding Ltd on Tuesday said its chief financial officer, Maggie Wu, will move to oversee the firm’s strategic acquisitions and investments unit, as part of a business and management reshuffle at the e-commerce giant.
Investor caution ahead of the Federal Reserve’s interest rate meeting capped Asian stocks on Tuesday, while crude oil prices retreated as global growth worries overshadowed supply concerns stemming from recent Middle East tensions.
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