Business

Struggling French carmaker Renault on Friday announced 15,000 job cuts worldwide as part of a 2 billion-euro cost-cutting plan over three years. The company said nearly 4,600 jobs will be cut in France in addition […]

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This year’s Forbes Global 2000 list saw the inclusion of 40 companies from the Arab world in the magazine’s ranking of the world’s top 2,000 companies, based on assets, profits, revenues, and market value, Zawya […]

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Tesla has cut prices of its electric vehicles by as much as 6% in North America following a decline in auto demand in the region during weeks of lockdown that have now started to ease, […]

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The General Authority for Zakat and Tax (GAZT) has implemented an extensive inspection campaign to shops in the retail sector, the Saudi Press Agency reported. It aims to ensure the commitment of shop owners to […]

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As the hedge funds once clustered in London’s Mayfair negotiate gyrating markets, they are facing a new line of investor questioning: who has contracted COVID-19, Reuters informed. With billions sometimes riding on the performance of […]

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Israel’s Sonovia, which makes washable and reusable anti-viral masks, is considering going public on Nasdaq by the end of this year, its chief technology officer said, Reuters writes. The masks are coated in zinc oxide […]

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Lufthansa is in advanced talks over a 9 billion euros ($9.9 billion) state bailout that would see Germany take a 20% stake in its flagship airline, as countries battle to save an aviation industry hammered […]

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Equity markets slipped on Thursday on concerns about the long-term impact of the new coronavirus and simmering U.S.-China tensions, though those worries couldn’t stop oil prices from marching to a 2-1/2 month high, Reuters writes. […]

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Investors expect robust demand for the Treasury Department’s new $20 billion issue of 20-year bonds, set to launch Wednesday, from U.S. institutions, foreign investors and other market participants, Reuters reports. The government’s borrowing needs have […]

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European stocks slipped lower on Wednesday and gold gained as a sceptical press report undermined some hopes for a COVID-19 vaccine and concern about obstacles to a recovery from the pandemic returned, Reuters informs. Italian […]

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Nasdaq is set to unveil new restrictions on initial public offerings (IPOs), a move that will make it harder for some Chinese companies to debut on its stock exchange, people familiar with the matter said […]

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Japan’s economy slipped into recession for the first time in 4-1/2 years in the last quarter, putting the nation on course for its deepest postwar slump as the coronavirus crisis ravages businesses and consumers, Reuters […]

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European stock markets rose on Monday and oil prices climbed to their highest in more than a month as a loosening of coronavirus shutdowns boosted market sentiment, even as the deadly outbreak has yet to […]

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The U.S. auto industry is slowly returning to life, with vehicle assembly plants scheduled to reopen on Monday and suppliers gearing up in support as the sector that employs nearly 1 million people seeks to […]

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Global shares declined Thursday on pessimism about life getting back to normal soon amid the coronavirus pandemic, after the U.S. central bank chief warned of hard times to come, The Associated Press reported. France’s CAC […]

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New York Governor Andrew Cuomo on Tuesday called on Congress to pass a stimulus package in response to the coronavirus pandemic that funds police officers, teachers and other local and state employees and warned against […]

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Tesla has reopened its only U.S. electric car plant in California, despite local orders against manufacturing. On Monday, the company’s chief executive Elon Musk tweeted that production had restarted and he would be “on the […]

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Treasury Secretary Steven Mnuchin said on Monday he sees no need for the country to buy back debt and that he plans to borrow money long-term to lock in low interest rates, as the coronavirus […]

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Factory workers began returning to assembly lines in Michigan on Monday, paving the way to reopen the U.S. auto sector but stoking fears of a second wave of coronavirus infections as strict lockdowns are eased […]

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Tesla sued local authorities in California on Saturday as the electric carmaker pushed to re-open its factory there and Chief Executive Elon Musk threatened to move Tesla’s headquarters and future programs from the state to […]

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When American companies recently applied for U.S. government loans meant to help small businesses survive the coronavirus crisis, they had to certify they needed the cash to cover basic needs like salaries and rent. The […]

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Tesla shares are up 86% so far this year, which means CEO Elon Musk just qualified for stock options worth more than $700 million, CNN reported. Musk, who already owns about 20% of the company, […]

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