Italy's competition authority has fined Amazon and Apple more than €200m (£168m) for allegedly breaching competition rules. Read more.
Tags : asia-pacific stocks
Ford Motor and Rivian no longer plan to jointly develop an electric vehicle, the companies confirmed Friday. The two companies had originally announced plans to develop a joint vehicle when the automaker invested $500 million in Rivian in 2019. Read more.
Debt-ridden property developer China Evergrande is set to raise about $273 million from the sale of its remaining stake in film production and streaming company HengTen Networks. This is according to a statement released before the stock market opened on Thursday. Evergrande, the largest issuer of U.S. dollar debt among Chinese property developers, was on the verge of officially defaulting this year. The company has made eleventh-hour payments and resumed building apartments owed to buyers. But that's only a fraction of what the company owes. Read more.
Royal Dutch Shell has announced plans to move its headquarters to the UK as part of proposals to simplify its corporate structure. The oil giant will ask its shareholders to vote on moving its tax headquarters from the Netherlands to the UK. It also wants to ditch its dual share structure in favour of a single class of shares to "increase the speed and flexibility" of distributions to shareholders. Read more.
AstraZeneca announced it is making a modest profit on its coronavirus vaccine as the world learns to live with the virus. Read more.
Chinese e-commerce giant JD.com has turned over 311.4 billion yuan ($48.6 billion) across its platforms as of 2:09 p.m. Beijing time, breaking its record set last year. Read more.
According to financial reports released Wednesday, CEO Elon Musk is selling a block of Tesla shares under a plan he set in motion on Sept. 14 of this year. Read more.
Shares in electric vehicle maker Rivian will trade in New York later today after raising around $10.5bn (£7.75bn) from investors. According to media reports, the shares were trading at $78 apiece. This would make it the largest initial public offering by a US company since Facebook's initial public offering (IPO) in 2012, even though Rivian only started delivering its first electric pick-ups to customers in September. Read more.
PayPal reported 13% revenue growth for the third quarter on Monday and announced that it is working with Amazon to allow U.S. customers to pay with Venmo at checkout starting in 2022. Read more.
Berkshire Hathaway posted another double- digit increase in operating profit thanks to a steady recovery in its rail, utilities and energy businesses from the pandemic, while the company's cash holdings hit a record high as Warren Buffett continues to sit on the sidelines. Read more.
Uber reported its third-quarter results after the bell on Thursday. After an initial decline, shares rose about 1% in after-hours trading. Uber reported a net loss of $2.4 billion for the quarter, largely due to a decline in the value of its investments, particularly in Didi. Read more.
Shares of car rental company Avis Budget jumped Tuesday after the company reported a stronger-than-expected third quarter, prompting massive trading volume. Read more.