Business & Finance News
Saudi Aramco has received bids for its shares totaling $44.3 billion so far, lead manager Samba Capital said on Friday, putting its initial public offering on track to be over-subscribed.
Daimler said on Friday it will cut at least 10,000 jobs worldwide over the next three years, following others in the industry as they cut costs to invest in electric vehicles while grappling with weakening sales.
U.S. stock index futures fell on Friday as trade tensions resurfaced after China rebuked President Donald Trump’s decision to ratify a bill backing protesters in Hong Kong.
Saudi Aramco sold 1,481,613,280 shares worth 47.4 billion Saudi riyals ($12.64 billion) to retail investors, while institutional orders amounted to 118.86 billion riyals in the first 12 days of the book-building period, lead manager Samba Capital said.
World shares slipped on Friday as a leading index strained for a record high, with investor nerves from Asia to Europe gnawing away over how or when the United States and China can agree a truce in their damaging trade war.
Activists staged protests against online retailer Amazon around France on Friday and tried to blockade a shopping mall in Paris, denouncing the rampant consumerism of the U.S. Black Friday shopping frenzy that has spread to European shores.
U.S. consumers splurged more than $2 billion online in the first hours of Thanksgiving shopping on Thursday, while crowds were largely thin at retailers on the eve of Black Friday, reflecting the broader trend away from shopping at brick-and-mortar stores.
Daimler on Friday announced thousands of job cuts across the globe by the end of 2022 after reaching an agreement on its plans with labor unions.
Oil prices will remain subdued in 2020 as growth concerns weigh on demand and fuel a glut of crude, a Reuters poll showed on Friday ahead of production-policy talks among OPEC and its allies next week.
Oil prices dipped on Friday in muted activity because of the U.S. Thanksgiving holiday while OPEC watchers expect an extension to a pact to throttle oil output but no deeper cuts to be agreed by the producer group and its allies next week.
Euro zone inflation accelerated faster than expected in November on a rise in food and services prices, likely comforting European Central Bank policymakers even if some factors pushing up prices may be only temporary.
Activists staged protests against online retailer Amazon around France on Friday, denouncing the rampant consumerism typified by the annual Black Friday shopping frenzy.
Renault, Nissan and Mitsubishi plan to appoint a general secretary at the helm of their partnership to boost cooperation and reboot joint operations after the departure of former alliance supremo Carlos Ghosn.
Agricultural machine manufacturers are working with banks in Brazil to avoid a repeat of slumping sales when public financing is expected to run out next year, the head of the local unit of U.S. tractor maker Deere & Co told Reuters on Thursday.
Singapore instructed Facebook on Friday to publish a correction notice on a user’s social media post under a new ‘fake news’ law, raising fresh questions about how the firm will adhere to government requests to regulate content.
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