Uncertain prospects loom over China’s ambitious $1 Trillion – Project of the Century
In 2017, President Xi Jinping launched the ambitious Belt and Road Initiative (BRI), dubbing it the “project of the century.” However, as Xi convenes the [more…]
Category: Business
Rite Aid seeks bankruptcy protection amid declining sales and ongoing opioid lawsuits
Rite Aid, a prominent pharmacy chain in the United States, initiated a bankruptcy filing on Sunday, grappling with an immense debt load, dwindling sales, and [more…]
Pfizer adjusts 2023 earnings and revenue outlook amid ebbing demand for covid products
Pfizer revised its 2023 revenue forecast to a range of $58 billion to $61 billion, down from the initial estimate of $67 billion to $70 [more…]
Kioxia and Western Digital nearing merger agreement in chipmaking industry
In an intriguing development, Japanese chip manufacturer Kioxia Holdings and its American counterpart, Western Digital, appear to be on the brink of agreeing to a [more…]
Atlassian’s acquisition of Loom valued at $975 million
Atlassian made a significant announcement today, revealing its acquisition of Loom, the video messaging service, for a substantial $975 million. This is a notable development [more…]
Shenzhen Longsys Electronics acquires Suzhou plant for $132 Million from Powertech
Shenzhen’s Longsys Electronics, a major client of US memory chip maker Micron Technology in China, has successfully acquired a mainland plant from Taiwan’s Powertech Technology [more…]
Mahindra Electric Automobile’s $1.2 Billion bet on electric SUVs
In the wake of Tesla’s imminent establishment of its inaugural factory in India, local automakers are fervently stepping up their endeavors in the realm of [more…]
Exxon Mobil to acquire Pioneer Natural Resources in a $60 billion reshaping oil deal
ExxonMobil, the largest US oil company, is set to acquire Pioneer Natural Resources, a prominent shale oil producer, in a deal that will significantly boost [more…]
LVMH experiences deceleration in sales growth, shares down, amid cooling global luxury demand
In the third quarter, LVMH observed a decline in sales growth as consumers restrained their expenditure on premium Cognac and high-priced handbags, marking further evidence [more…]
Canadian auto workers and GM reach Preliminary contract agreement to end strike
General Motors and the Canadian auto workers’ union have reached a tentative contract agreement, ending a strike that began shortly after midnight. Approximately 4,300 striking [more…]