Since 2010 The American banking giant Bank of America has reduced staff by 30% to 204 thousand employees (as per Q3 2018 statistics) due to development of technology and automation of work processes, the bank’s general director Brian Moynihan told CNBC. "We had 288 thousand people when I took the...

High-tech defense companies Harris Corporation and L3 Technologies announced a $ 33.5 billion merger. The new company will be the seventh largest defense contractor in the world, beating companies such as Airbus, and approaching such giants as Boeing, General Dynamics and Northrop Grumman. The...

Facebook confirmed that the earlier through figure of 50 million estimated for data breach of its users was not accurate. The social media platform put the estimate at 30 million in what is being identified as one of the worst security breaches for the company.   However, the company also...

Expanding economy and lower taxes drove the third quarter profits up by double digits for the three of the largest U.S. banks as all of them forecast continued growth under the condition of the continuance of the current business trends.   The third quarter saw a strong demand for loans...

The high end retailing landscape of China is being partially impacted by its trade war with the United States because the affluent and luxury goods seeing Chinese customers have moved away from purchasing the costly autos but have continued with their interest in purchasing luxury handbags and...

Four European steel plants of steel and mining major ArcelorMittal would be sold out by the company to Liberty House as a part of the agreement on anti-competition with the European Commission (EU) against the acquisition of Ilva SpA (Ilva) by ArcelorMittal, the steel maker said on Friday. The...

Net profit of JP Morgan Chase, one of the world's largest investment banks, increased by 26% in January-September 2018 compared to the same period last year and amounted to $ 25.408 billion, according to an investment bank report. Diluted earnings per share were $ 7 versus $ 5.22 a year earlier. In...

According to new reports, the American companies that have seen their data stolen by Chinese spies include the likes of Apple and Amazon.   The news reports claimed that tiny chips placed on circuit boards of servers manufactured by a company called Super Micro Computer was used to steal the...

The initial public offering of the government owned Saudi Aramco would hit the markets as early as early 2021, according to the king in waiting of Saudi Arabia.   This announcement, which the market has been waiting to hear from a believable source, was made during an interview with the...