The Covid-19 pandemic has prompted consumers to shop more form online sources which has benefitted the e-commerce firm eBay Inc as the company beat estimates of analysts for its sale revenues as well as profit for the holiday quarter. Announcing the results for its latest completed quarter, the...

China's Alibaba Group presented its financial statements for the third quarter of the fiscal year 2020, which ended in December. The company's revenue in the period rose 37 percent to 221.1 billion yuan ($33.9 billion), which was significantly above the expectations of analysts surveyed by...

With the Covid-19 pandemic drastically bringing down global energy prices, a historic annual loss for 2020 was reported by Exxon Mobil Corp which brought down the market value of the shale gas properties of the company was slashed by more than $20 billion.   A reduction of almost one third...

The founder and CEO of Amazon.com Jeff Bezos will step down from his post and become executive chairman.   He will be succeeded by the chief of the company’s lucrative cloud computing business which signals the shift of the company to becoming an internet conglomerate from a web based...

US oil and gas corporation ExxonMobil presented its results for the fourth quarter of 2020 and the whole year of 2020. The company posted a quarterly loss of $20bn, compared with a profit of $5.7bn a year earlier. ExxonMobil posted a loss of $22.4bn for the full year 2020 and recorded a profit of...

Several companies within the diversified conglomerate HNA Group have reported theft and misappropriation of funds totalling at least $9.8bn. The allegations came after HNA Group announced last Friday that it had filed for bankruptcy and reorganisation at the initiative of its court-appointed...

Playboy Enterprises plans to announce the acquisition of the sexual health retailer as early as Monday. Lovers operates online and through 41 shops in five US states. Playboy Enterprises may announce its acquisition of sexual health retailer Lovers on the first day of February. The chain, which...

A record annual loss of $12bn was reported by United States based airplane maker Boeing Co as it again delayed the launch of its all-new 777X jet and consequently booked a one time charge of $6.5bn charge for the delay in the programme.   The fall in demand for the largest jetliners of the...

A price cut for all of its all-electric iX3 SUV in China by the German automaker BMW has not pitted the models in direct competition with those offered by Tesla and other Chinese startups such as Nio.   The recommended retail price for the iX3 will start at 399,900 yuan ($61,713), BMW’s...