International Companies
Xiaomi announces POCO to be standalone company
Xiaomi said on Friday that it would spin off POCO as a standalone company that will run independently from the Chinese tech giant.
Fiat Chrysler in talks with Foxconn over JV
Fiat Chrysler Automobiles said on Friday that it is in talks with electronics group Foxconn over the creation of an equal joint venture to develop and manufacture new generation battery electric vehicles in China and engage in the Internet of Vehicles business.
Top multinationals urge EU to stop patent trolls
Top multinationals such as BMW, Microsoft and Apple called on the European Union to prevent patent trolls that buy patents to make a profit through licences or lawsuits.
Morgan Stanley tops Goldmans in market value thanks to fixed income trading
Shares of Morgan Stanley hit their best levels since late 2007 and overtook those of Goldman Sachs on the back of a fourth quarter surge in sales from fixed income trading.
IAG lodges complaint with EU over Flybe rescue
British Airways owner IAG has complained to the European Union about the UK government’s decision to rescue struggling regional carrier Flybe.
Goldman Sachs profits hurt by weak investment banking performance
US banking giant Goldman Sachs fell short of estimates on Wednesday as the group reported that quarterly profits had been hurt by weakness in its investment banking arm and higher operating costs.
German court charges six Volkswagen executives with fraud
Germany has charged six top executives at Volkswagen with fraud after being accused of “deliberately misleading” authorities and customers.
Jeff Bezos to invest $1bn in Indian companies
Jeff Bezos, the billionaire founder of Amazon, has unveiled a $1. 0bn investment to help small Indian businesses digitalise.
Bank of America shares dip after 'low quality' Q4 EPS beat
Bank of America saw sales and profits decline at the end of 2019 despite amid higher expenses and a fall in net interest income.
Ford invests $82m in Vietnamese plant expansion
Ford said on Tuesday it’s investing $82m in the expansion of a plant in Vietnam to boost its production capacity at the site.
Citigroup easily tops estimates on strong fixed-income trading
Citigroup easily topped expectations with its quarterly results on Tuesday as strong fixed-income trading revenues and growing sales from the bank's consumer business led the way.
PSA-owned Opel to shed up to 2,100 jobs
Opel is to cut up to 2,100 jobs, the German car brand confirmed on Tuesday, as it battles 'ever-stricter' emissions regulations.
JP Morgan blows past Street in Q4 thanks to debt and commodities trading
JP Morgan blew past analysts' forecasts for its fourth quarter revenues and profits thanks to a bumper turnout for its debt and commodities trading arm.
BlackRock pledges to put climate first as it flags 'fundamental reshaping' of finance
BlackRock, the world’s biggest asset manager, has pledged to put the climate at the heart of its investment strategy, including shunning some coal miners.
China reports surge in exports ahead of crucial trade deal
China’s exports grew for the first time in five months in December, official data showed on Tuesday, comfortably beating expectations.
Outgoing Boeing boss to receive more than $60m
David Calhoun, Boeing's new president and chief executive, assumed control of the troubled US aerospace manufacturer on Monday, as it emerged that his predecessor had left with more than $60m in compensation and pension benefits.
US intelligence will remain safe if UK uses Huawei 5G tech says MI5 head
US intelligence sharing will not be at risk from Chinese spying even if the UK uses Huawei’s technology for development of the country's 5G network, said the head of MI5, Andrew Parker.
Brookfield powers ahead with takeover bid for TerraForm
Energy company Brookfield Renewable Partners has moved to take full control of TerraForm Power, it was announced on Monday.
Anixter agrees to Wesco buyout bid, ditches CD&R
The battle for network security and electrical solutions company Anixter International came to an end on Monday after it agreed to be bought by Wesco International in a $4. 5bn deal.
Segway crashes multi-million-dollar wheelchair in demo
A prototype for a Segway "transporting pod", it’s multi-million-dollar wheelchair, has crashed during the first public demonstrations.