Trump Ban on Chinese Tech Firms Drags Global Markets Lower
Global markets traded lower on Friday following US President Donald Trump's move to sign two executive orders banning transactions between the US and TikTok owner Bytedance and WeChat owner Tencent. [...]
Trump's Executive Orders ban Transactions with TikTok and Wechat Owners in 45 Days
US President Donald Trump signed two executive orders banning US transactions between the US and TikTok owner Bytedance and WeChat owner Tencent. The orders, which take effect in 45 days, [...]
Amazon Signs Cloud Service Deal with Bharti Airtel
Amazon has signed a deal with Bharti Airtel to sell Amazon Web Services (AWS) to small and medium businesses in India through Airtel Cloud. The new partnership will help Amazon [...]Virgin Atlantic Files for Bankruptcy
Virgin Atlantic has filed for Chapter 15 bankruptcy, a move that seeks to protect its assets from US creditors as it scrambles to finalize a rescue plan with the aid [...]Microsoft Expects TikTok Acquisition Discussions to End by September 2020
Microsoft has confirmed that it is still engaging with ByteDance to acquire TikTok's assets in the United States. Microsoft CEO Satya Nadella says that they will pursue discussion in a [...]
Global Trade to Shrink by 13% in 2020, says WTO
The World Trade Organization(WTO) reckons that global trade will decline by 13% in 2020 due to the worldwide pandemic. WTO outgoing Director-General Roberto Azevedo told a recent virtual conference in [...]
Pandemic Pushes Oil Giant BP to $ 6.7 Billion Net loss
UK-based BP Plc posted a $6.7 billion net loss in the second quarter of 2020 and cut its dividend in half. BP, which is one of the world's most powerful [...]Amazon Gets Approval to Buy 16% Stake in Deliveroo
Amazon has received the green light from the Competition and Markets Authority (CMA) to buy a minority stake (16%) in U.K. food delivery start-up, Deliveroo. In 2019, just after Deliveroo [...]Huawei Overtakes Samsung as Top Handset Maker in Q2
China's Huawei Technologies has overtaken Samsung to become the number one handset maker in Q2 2020 aftershipping 55.8 million devicesin the April-June period, trumping Samsung's 53.7 million. Reutersreports that Huawei's [...]Global Markets Briefing
Microsoft has announced it will continue with talks to explore a purchase of TikTok in the United States. In a blog post, CEO Satya Nadella said Microsoft will move quickly [...]Fitch Revises Down Japan’s Long-Term Outlook to Negative
Ratings agency, Fitch, has revised down the outlook on Japan's long-term foreign currency debt rating tonegative from stable, citing the sharp coronavirus-induced domestic economic contraction. Furthermore, the credit ratings firm [...]Boeing Set to Stop Production of 747 Jets
Boeing has announced plans to stop the production of its 747 jets by 2022, a move that is foreseen to result into more job cuts; greater than the 16,000 the [...]
