Cullinan mine banks on big diamonds to downcast debts
Cullinan, once a gem in diamond industry and still owner of the world’s most famous diamond mines, would have been a decade away from clearing the slates of its multi-billion dollars debts
Business
UK declines to support Huawei’s entire network ban
British security officials had not been supporting an entire ban of Huawei’s network devices from national telecom services despite US disputes claiming the Chinese firm could have been used for espionage
Nissan recommends outside director to chair board following Ghosn-scandal
As an attempt to decentralize power at the top level, a Nissan Motor Governance committee would be recommending an external director as board chairman, a role which would be well-distinguished from the company chairman
Ethiopia and Djibouti to build gas pipeline
As a move to transport Ethiopian gas to an export terminal in the Red Sea Estate of Djibouti, besides the Sea of Aden, Ethiopia and Djibouti had recently sealed a deal to build a pipeline carrying Ethiopian gas to the export terminal of Djibouti
Airbus warns of no-deal Brexit, says spent tens of millions preparing
Sunday, the 17th of February, 2019, Airbus said that they might have to make difficult decisions about future investments in United Kingdom, if UK decided to brush aside the EU legislations and broke out of EU without a deal
Saudi signs multi-billion warship deal with French Naval Group
On Sunday, the 17th of February, 2019, the OPEC kingpin and the face of gulf countries, Saudi Arabia had singed a preliminary contract with France’s Naval Group to build navy warships in the country
SAA agrees to pay $78 million to rival Comair to settle competition case
State-owned South African Airway (SAA), agrees to pay its arch-rival, Comair, approximately $78 million (1.1 billion Rand), in order to settle an anti-competition case
Trade talk “making a final sprint”, says Chinese State Media
On Saturday, the 16th of February, the Chinese State Media appeared to be cautiously optimistic on what’s written in the stars for Sino-US trade war
US Payless ShowSource starts liquidation sales ahead of bankruptcy filing
Payless ShowSource, a US discount retailer said on Friday, the 15th of February, that, they would be beginning their liquidation sales, at their Puerto Rican and US stores from February the 17th
Uber rival Didi to launch ride-hailing operations in Latin America
Didi Chuxing, a Chinese ride-hailing giant, has been planning to take on its US rival, Uber, in some of the fastest-growing markets of Latin America
Chinese Conglomerate HNA cuts stake in Deutsche Bank to 6.3 percent
According to a filing with the US Exchange and Security Commission, HNA, the Chinese Conglomerate had decided to axe its stakes in Deutsche bank to 6.3 percent
Alphabet claims shares of property taxes for Toronto Smart City
The Sidewalk Labs unit of Alphabet Inc. had been preparing to claim a share of development fees, rising values and property taxes of Toronto city land, as a part of a deal to build the smart city
Uber posts $50bln in annual booking ahead of IPO, profits remain cynical
Uber Technologies Inc. had recently issued a public statement, saying that, they had about $50 billion in total booking for their ride hailing and food delivery businesses last year ahead of its IPO
Amazon places big bet on Tesla rival Rivian
Amazo.com Inc., said on Friday, the 15th of February, 2019, that, they would be investing approximately $700 million on the Rivian Automotive LLC, a US electric pickup truck startup
US-China trade talk to reopen next week, Trump hints deadline extension
The China and United States would recommence the trade talk next week in Washington, as the truce deadline has been running out of runways
Airbus A380, a shattered European dream
Beloved by passengers and feared by the accountants, Airbus, the world’s largest airliner appeared to be running out of runways, as they had decided to shutter down their A380 production after 12 years of service, as an aftermath of weak sales.
Vale’s safety measure wasn’t working, says CEO amid growing woes
On Wednesday, the 13th of February, the Brazilian miner, Vale SA’s Chief Executive Fabio Schvartsman told the Brazilian lawmakers in the lower house that the Vale’s safety processes had not been working properly during the disaster
Alibaba to purchase stakes at China operation of German Metro
The Alibaba Group Holding Ltd., a Chinese e-commerce giant holding 58 percent of monopolized Chinese e-commerce industry, had been in talks of taking stakes in the German Wholesaler, Metro’s China operation
Amazon aborts New York City Headquarter plan
On Thursday, the 14th of February, the Amazon.com Inc., the third most valuable United States’ company in terms of market capitalization, had jettisoned their plans of building a headquarter around New York
Trump & Xi expected to meet ‘Sometime in March’: USDA
Despite US President Donald Trump’s frequent rejection of a face-to-face meeting with Chinese President Xi Jinping, a USDA official said that the US President and Chinese President were expected to meet “Sometime in March”
Ford recalls 1.48 million F150 pickups in North America
On Wednesday, the 13th of February, 2019, the Ford Motor Co. issued a statement, saying that they were going to recall about 1.48 million F-150 pick ups in North America due to a potential fault related to transmission downshift
Volkswagen & Ford still miles apart on self-driving development merger
The German automaker Volkswagen and the US’s Ford Motor Co., had met with higher odds over investment amount on their proposed self-driving development merger
Renault scraps Ghosn’s €30 million on government backing
On Wednesday, the 13th of February, 2019, the French carmaker, Renault said that they had scrapped $34 million on deferred & severance pay to its former boss, Carlos Ghosn
Johnson & Johnson to own surgical robotics Auris in a $3.4bln takeover deal
On Wednesday, the 13th of February, 2019, the pharmaceutical conglomerate, Johnson & Johnson said that they would purchase a surgical robotic firm, Auris, in a $3.4 billion buyout deal
FBI investigating top Vitol US executives on Petrobras bribery case
The US Federal Bureau of Investigation had been investigating on trading firm, Vitol’s top two US executives, in connection with a bribery case linked to dealings with much-scandalized Brazilian Petroleo Brasileiro SA
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