California officials reject subsidies for Musk’s SpaceX over Tesla spat

18-05-2020
On Friday, a California state panel had rejected a request from Tesla Chief’s space venture SpaceX for a total of $655,500 in state training funds and jobs, citing Tesla Inc.’s latest threats to move its e-vehicle manufacturing HubSpot out of the state

Texas departmental store chain JC Penney files for bankruptcy protection

18-05-2020
On Friday, the 15th of May 2020, JC Penney Co. Inc., the Plano, Texas-based luxury departmental store chain having operational in 846 locations in the United States alongside Peurto Rico, had filed for a chapter 11 bankruptcy protection

Amazon says ‘appropriate’ exec. to be available as US panel calls in Bezos to testify

17-05-2020
On Friday, Amazon.com Inc. said that the company would represent an “appropriate” executive to testify over an allegation reported in a Wall Street Journal post later last month

Beijing to put Apple, other US companies in unreliable entity list after Huawei block

16-05-2020
On Friday, Chinese Global Times newspaper, a mouthpiece for the leaders of China’s ruling centre-left party, had revealed in a report that Beijing was working out a move to put a swathe of US companies in an “unreliable entity list”

Taiwan’s TSMC to build $12-billion Arizona Chip plant as US-China rivalry escalates

16-05-2020
On Friday, the 15th of May 2020, the Taiwanese Semiconductor industry leader, TSMC (Taiwan Semiconductor Manufacturing Co. Ltd.) said in a statement that the company was brewing off a plan to build a $12 billion mega-factory in Arizona

Menlo Park’s Facebook to purchase New York’s Giphy, to integrate with Instagram

16-05-2020
On Friday, the 15th of May 2020, the Menlo Park, CA-based social networking behemoth, Facebook Inc. said in a blog post that the company was going to take over Giphy, a New York-based popular website that makes and shares animated images or GIFs.

Washington to cut Huawei off from global chip suppliers as Beijing eyes retaliation

15-05-2020
On Friday, the US President Donald Trump alongside his administration had unveiled a new rule to bar sales of semiconductors manufactured by using US technology to the world’s No. 1 telecom gear maker Huawei Technologies

Germany’s Thyssenkrupp, Italy’s Fincantieri in talks to form warship champion

15-05-2020
Essen-based Thyssenkrupp has been brewing off a swathe of strategic options for its warship unit ranging from a 50-50 merger with the Italian shipbuilder Fincantieri to hauling up a national heavyweight with other German peers

Apple supplier AMS stocks dive after capital raise proposal

15-05-2020
On Wednesday, the 13th of May 2020, shares’ prices of AMS AG had nosedived as much as 11 per cent following reveal of a media headline that the Austrian sensor maker had been seeking authorization for a fresh capital raise

Pandemic clouds US-China trade deal, says Trump

14-05-2020
Earlier on Thursday, the 14th of May 2020, the US President Donald Trump said that he had been very disappointed with China, the world’s second-largest economy, due to the country’s failure to contain the pandemic outbreak

US Senate blocks bid to limit surveillance on Americans’ internet habit

14-05-2020
On Wednesday, the 13th of May 2020, the US Senate had narrowly averted an amendment bill which in effect could have barred law enforcement agencies from gathering intel on American nationals’ internet habit without issuing a warrant

California county, Tesla's Musk reach deal to reopen US plant next week

14-05-2020
On Wednesday, top officials of the Californian country said in a statement that the Palo Alto, CA-based e-vehicle industry pioneer Tesla Inc. and the officials of the Californian country had reached an accord to resolve an acrimonious impasse

Swedish truck maker Volvo dumps dividend payment as Q1 net sales slide 16%

14-05-2020
On Tuesday, the Gothenburg-based Swedish multinational manufacturer of high-end trucks, buses and construction equipment, the Volvo Group had issued a statement saying that the company would suspend its proposed dividend pay offs for 2019

Washington reports all-time high $738 billion budget deficit in April

14-05-2020
On Tuesday, the 12th of May 2020, the US Treasury Department had issued a statement saying that the world’s No. 1 economy’s budget deficit had spiked to a jawdropping $738 billion on record last month

California’s Twitter to let employees work from home permanently, halts travel

13-05-2020
On Tuesday, the 12th of May 2020, Twitter Inc., the 14-year-old San Francisco, CA-based American microblogging and social networking tycoon, said in a statement that it was going to enable some of its employees to work remotely for an indefinite period

Californian ride-hailing pioneer Uber approaches GrubHub takeover, shares snowball

13-05-2020
Uber Technologies Inc., the San Francisco, CA-based American multinational ride-sharing pioneer had been in an advanced stage talk to takeover an Illinois, Chicago-based online food delivery company GrubHub in an all-stock deal

China announces new tariff waiver for 79 US goods

12-05-2020
On Tuesday, the 12th of May 2020, Beijing had issued a statement unfurling a new list of 79 US products which would be spared from the tit-for-tat tariffs inclined at the peak of Sino-US trade spat last year

Latin America’s 2nd-biggest airline Avianca bankrupted as pandemic wounds deepen

12-05-2020
On Sunday, the 10th of May 2020, the Bogota, Columbia-based Latin America’s second-largest airline, Avianca Holdings, formed a decade earlier by the merger of Avianca and TACA airlines of El Salvador, had filed for a bankruptcy protection

Japan’s Mazda Motor seeks $2.8 billion in fresh debts to see through pandemic

11-05-2020
Mazda Motor Corp., the Hiroshima-based century-old Japanese multinational automaker, often dubbed as simply Mazda, has been on the forefront to seek roughly $2.8 billion or 300 billion Japanese Yen in fresh debts from three of the largest lenders in Japan

Dallas store chain Neiman Marcus receives bankruptcy court approval to access funds

11-05-2020
Late on Friday, Neiman Marcus Group Inc., said in a statement that the luxury store chain had accrued bankruptcy court approval to access a stark total of $675 million in so-called debtor-in-possession financing

California’s Tesla secures $565 million in debts for Shanghai Gigafactory

10-05-2020
Tesla Inc. had reached an accord with a Chinese lender for a fresh debt of up to $565.51 million or ¥4 billion aimed at improvising its Shanghai Gigafactory, a regulatory filing had revealed

Washington’s Microsoft to invest $1.5 billion in Italian cloud business

09-05-2020
On Friday, Microsoft Corp. had issued a statement saying that the leading cloud services provider across the globe, had been devising itself to develop the first datacentre in Italy under a $1.5 billion investment plan

India’s Reliance strikes third deal for digital unit, raises $8bn in 2 weeks

09-05-2020
On Friday, Reliance Industries Ltd. said that the company’s digital arm, Jio Platforms, had sold off 2.3 per cent of its stakes to an American venture capital and private equity fund Vista Equity Partners for a lump-sum of $1.5 billion

US travel metasearch engine Booking.com misses profit as tourism industry in tatters

09-05-2020
Late on Thursday, the 7th of May 2020, the United States-based travel metasearch engine provider, Booking.com having over 28 million listings, had released its first quarterly earnings’ report

Texas store chain JC Penney to file for bankruptcy as soon as next week

08-05-2020
JC Penney Co. Inc., the Plano, Texas-based American departmental store company having 865 stores across 49 US states alongside Puerto Rico, had been devising itself to file for a Chapter 11 bankruptcy protection as soon as by next week