Daimler announced on Thursday that it will build its first in-house electric motor at its oldest facility in Berlin, bringing solace to employees fearful that the diesel motor unit was on the verge of layoffs.   Workers who feared losing their jobs when Daimler said in September 2020 that...

Net profit of China's largest internet company Alibaba Group Holding for the six months of fiscal year 2020-2021 (ended September 30) fell 33.9 percent year on year to $7.839 billion, the company said in a press release. Diluted earnings per share were 2.3 yuan ($0.36), down from 3.48 yuan ($0.51)...

Managers of Evergrande Group, one of China's biggest developers on the verge of default, decided to sell all of its existing shares in HengTen Networks Group for HK$2.13 billion (US$273.16 million), Evergrande said in a statement to the Hong Kong stock exchange. Evergrande's subsidiary has entered...

Following the growth of first half profits that beat estimates of analysts, its free cash flow forecast were increased by the mobile operator Vodafone because of strong performance in its largest market Germany.   The news pushed the stocks of the company by as much as 6 per cent while it...

International rating agency S&P Global Ratings (S&P) has placed Japanese electronics giant Toshiba Corporation's 'BB+' rating on its watch list with the possibility of a downgrade after the company announced its intention to split, the agency said in a release. Toshiba said on Friday it intended to...

With the embattled Chinese real estate company China Evergrande Group scribbling to meet its financial commitments, its founder is freeing up monies from luxury assets such as art, calligraphy, and three high-end houses, said reports emerging from China quoting sources and documents.   ...

The price of gold hit a five-month high. Investors are buying the precious metal because of rising inflation. It is also pushing investors into risky assets - cryptocurrencies and promising companies with no real results. Gold rose to a five-month high, rising to $1868.5 an ounce, The Wall Street...

Tesla founder Elon Musk has hinted at new sales of his company shares in response to US Senator Bernie Sanders' demand to tax the super-rich. On Saturday, the senator posted a message on his Twitter page saying there is a need for "the very rich to pay their fair share". "Want me to sell more...

Inclement weather and restrictions on travel in China because of Covid-19 resulted in stagnation of sales of Burberry in the second quarter, which seem dot downplay the profits reported by the company for the quarter which was better than expected.   After reporting stagnant like-for-like...