untitled design

Tag: International business news

Elon Musk has filed a new request to terminate the Twitter acquisition deal

Elon Musk has filed a new request to terminate the Twitter acquisition deal Elon Musk has filed a new request to terminate the Twitter acquisition deal

Elon Musk’s legal team filed a new request today to end the deal to acquire Twitter for $44 billion, citing additional reasons. This development comes in the wake of a filing with the US Securities and Exchange Commission by Peter Zatko, Twitter’s former security chief, who claimed that the popular social networking platform faced “appalling […]

Gazprom immediately cuts gas flows to France

Gazprom immediately cuts gas flows to France Gazprom immediately cuts gas flows to France

LAST UPDATE: 10.32 French energy company Engie announced today that Russian state-owned Gazprom has informed it of a further and immediate reduction in natural gas deliveries “due to a dispute between the parties on the implementation of contracts”. Russian gas deliveries to Engie had already been significantly reduced following Russia’s invasion of Ukraine, the French […]

Honda Motor and LG to build lithium-ion battery factory for electric vehicles

Honda Motor and LG to build lithium-ion battery factory for electric vehicles Honda Motor and LG to build lithium-ion battery factory for electric vehicles

The Japanese Honda Motor Co. will build a new lithium-ion battery factory in the United States, with the financial amount of the investment reaching 4.4 billion dollars. The construction of the factory unit will be done in collaboration with the Korean battery production company LG Energy Solution Ltd, as the two companies announced yesterday. Battery […]

Uniper: Requests an additional state credit facility of 4 billion euros

Uniper: Requests an additional state credit facility of 4 billion euros Uniper: Requests an additional state credit facility of 4 billion euros

German energy giant Uniper said on Monday it has requested a further €4bn extension of its government credit facility to boost its liquidity which has been squeezed by soaring gas prices. “We are working directly with the German government for a permanent solution to this emergency situation, as otherwise Uniper will no longer be able […]

China’s Sinopec has commissioned the country’s largest coal capture and storage facility

China’s Sinopec has commissioned the country’s largest coal capture and storage facility China’s Sinopec has commissioned the country’s largest coal capture and storage facility

Chinese oil major Sinopec Corp said on Monday it has commissioned the country’s largest coal capture, utilization and storage (CCUS) unit in eastern China, adding that it plans to build two more units of a similar size by 2025. The Chinese state-owned oil giant is one of the leading companies building CCUS pilot projects in […]

EY: Society’s expectations for business action on ESG issues are intensifying

EY: Society’s expectations for business action on ESG issues are intensifying EY: Society’s expectations for business action on ESG issues are intensifying

The percentage of board members and senior executives who believe that the pandemic has increased the expectations of consumers, workers, governments and society at large that businesses will lead the effort for positive social impact, environmental sustainability and growth without foreclosures, has increased significantly, from 66% to 84%. This is according to EY’s annual global […]

Ericsson: Ends operations in Russia

Ericsson: Ends operations in Russia Ericsson: Ends operations in Russia

Ericsson has announced that it will phase out its business operations in Russia in the coming months as the Swedish telecommunications equipment maker completes its obligations to customers. The company, which suspended its Russian operations indefinitely in April, said it has about 400 employees in Russia and will provide financial support to affected workers. A […]

Bain Capital: Agreed to buy Olympus unit for $3.1 billion

Bain Capital: Agreed to buy Olympus unit for $3.1 billion Bain Capital: Agreed to buy Olympus unit for .1 billion

Bain Capital has agreed to buy Olympus Corp’s scientific instruments business for 428 billion yen ($3.1 billion), as the Japanese medical device company shifts its focus further into healthcare. Olympus expects to transfer the unit on Jan. 4 and take the proceeds from the sale in the fourth quarter of the fiscal year ending March […]

Sinopec: Profits increased by 10% in the six months

Sinopec: Profits increased by 10% in the six months Sinopec: Profits increased by 10% in the six months

China Petroleum & Chemical Corp reported net profit for the first half of the year, which rose 10% compared to the same period last year, mainly due to a significant improvement in upstream activities. The Chinese oil company, better known as Sinopec, said first-half net profit rose to 43.53 billion yuan ($6.33 billion), while total […]

China: Record revenues for oil groups

China: Record revenues for oil groups China: Record revenues for oil groups

Chinese oil giants Sinopec, PetroChina and CNOOC posted big increases in net income in the first half, after energy prices took off triggered by Russia’s invasion of Ukraine. State-owned Sinopec, Asia’s biggest refiner, yesterday reported net income of 43.53 billion yuan (6.37 billion euros) in the January-June period, up 10.4 percent year-on-year. And this despite […]