Stocks

Italy Okays $7.1 billion loan to Fiat Chrysler

The Italian government has approved guarantee for a $7.1 billion (6.3 billion euros) loan to Italian-American automaker Fiat Chrysler Automobiles NV (BIT: FCA). The government approved a decree offering a state guarantee to the company’s Italian unit. This will go down on record as the largest ever loan granted to a Europe based car manufacturer. […]

American Airlines Seeking $3.5 Billion in Upcoming Financing Round

American Airline Group Inc. (AAL) has made public its plan in which it seeks to secure $3.5 billion in upcoming financing round. The airline will use cash to revive its operations which have been greatly affected after coronavirus pandemic stroke a heavy blow to the aviation industry worldwide. The airline is looking forward to sell […]

Billionaire Investor Icahn Ditches Hertz After Bankruptcy Filling

Wealthy billionaire investor Carl Icahn has pulled out his entire investment from Hertz Global Holdings Inc. (HTZ) just days after the embattled car rental company filed for bankruptcy. Until his exit, Icahn was the largest shareholder at the company having 39% stake in Hertz, in addition he had three representatives on the company’s board. On […]

Samsung Building its 6th Domestic Chip Factory

Leading South Korea based producer of multiple consumer electronics Samsung Electronics Co. (KRX: 005930) has made public its upcoming project to build a sixth domestic contract chip production line. The new plant will largely specialize in manufacturing logic chips for computers and mobile phones. Samsung says the upcoming project is in line with its plan […]

Alibaba Investing $1 billion in Smart Speakers

Chinese based e-commerce giant Alibaba Group Holding (BABA) announced it will be pumping a $1 billion (10 Billion Yuan) investment into an artificial intelligence (AI) and Internet of Things (IoT) revolving around its Tmall Genie smart speaker. For some time now Alibaba has been giving special attention to new technologies and other business ventures apart […]

Lenovo Soar Above Analysts’ Estimates in Quarter Reports

Hong Kong PC maker Lenovo Group Limited (HKG: 0992) has posted its results for the quarter ending March 31, the company registered declining sales and profits due to the pandemic but it largely performed better than what analysts had estimated. Net profit for the company’s fourth quarter slumped by 64% to $43 million but it […]

Ryanair Trims Passenger Traffic Target For the Year

Dublin based airline Ryanair Holdings Plc. (LON: RYA) announced trimming down its passenger traffic target for the year by an additional 20% citing global traveling volume distortion caused by coronavirus pandemic. Ryanair further said it’s deliberating on pulling out of some airports across Europe as effects of the pandemic are hitting the airline industry hard. […]

TSMC Building a Chip Factory in Arizona

Taiwan based and world’s largest contract chip manufacturer Taiwan Semiconductor Manufacturing Co Ltd (2330) has made public its plans to build a chip plant in Arizona, the plant will cost an estimated cost of $12 billion. This move is seen of having been inspired by attempts from U.S government to shift the supply chain of […]

Nissan to Trim Financial Guidance by $2.8 Billion in Restructuring Plans

Japan based automaker Nissan Motor Co (7201) is looking forward on holding meeting to restructure financial guidance of the company for the year citing unavoidable disruptions caused by coronavirus pandemic which has resulted to reduced demand due to restricted movement of individuals. This information was first published on Bloomberg News indicating Nissan is planning to […]

Musk Reopening California Factory Says He’s Ready to be Arrested

Billionaire Chief executive of U.S electric car maker Tesla Inc. (TSLA) Elon Musk announced he will be reopening the company’s factory in California to resume normal production activities. This is the only factory the electric vehicle manufacturer has in the United States. Reopening the factory would mean defying orders from county’s health authorities directing the […]