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Top News: Business

U.S. to buy 300,000 doses of Eli Lilly coronavirus antibody drug

The U.S. government will pay Eli Lilly $375 million to supply 300,00 doses of its experimental antibody drug to treat the coronavirus, the company announced Wednesday, pending its receiving an emergency use authorization for the treatment from the FDA.

Brazil's Petrobras cuts losses to $236 million in Q3

Rio De Janeiro - Brazil's state-run oil giant Petrobras announced Wednesday it reduced its losses in the third quarter of the year, the company's third negative result in a row due to the global economic meltdown caused by the coronavirus pandemic.

Most Canadian businesses recognize they need more scalable IT

Prior to the disruption caused by the pandemic, the pace of digital transformation in Canada was lagging behind other parts of the world, according to Vanson Bourne and Dell Technologies. Is this about to change?

In the sleeping towers of Paris' vast business district

La D - With a half-empty office floor and a whole team in quarantine, the new norm at one company in Paris illustrates the reality weighing on Europe's biggest business district.

For Chinese consumers, Ant Group app is part of the fabric of life

Shanghai - The most essential item in aircraft engineer Tao Rui's possession during a recent outing in Shanghai was the Alipay smartphone app from Ant Group, a company little known outside China until it unfurled plans for the biggest IPO in history.

China's Ant Group says to raise $34 bn in record IPO

Bejing - Chinese e-payments giant Ant Group said Monday it plans to raise $34 billion in a listing shared between Hong Kong and Shanghai, making it the biggest IPO in history.

Canada's Cenovus Energy agrees to buy Husky Energy for $18 bn

Calgary - Cenovus Energy Inc. agreed to buy Husky Energy Inc. in an all-stock deal valued at C$23.6 billion ($17.97 billion) creating Canada’s third-largest oil and natural gas producer.

How Snowflake became a powerhouse in cloud computing. Special

After producing the biggest IPO for a US software company, Snowflake has quickly become a powerhouse in cloud computing. But where does the company go from here? Next Pathway's Chetan Mathur provides an insight.

Strategies for improving the environmental impact of DX

For many enterprises, digital transformation is a must, especially in terms of staying competitive and being efficien. But what about the environmental impact? How should businesses handle this aspect of corporate governance?

Exxon expected to announce layoffs in U.S. and Canada

Exxon is close to completing a workforce assessment for the United States and Canada, after which it will announce the number of people it needs to lay off in response to the crisis caused by the pandemic.

Goldman Sachs fined US$350 million in Hong Kong over 1MDB

Fpo - Global financial titan Goldman Sachs was fined US$350 million by Hong Kong's securities watchdog on Thursday for its role in the massive 1MDB Malaysian bribery scandal, the latest in a growing list of global punishments the firm faces.

Saudis shun 'made in Turkey' as rivalry deepens

Apo - From pickled vine leaves to coffee and cheese, Saudi supermarkets are taking Turkish products off the shelves after calls for a boycott, as rivalry between Riyadh and Ankara heats up.

How cyber awareness can save your company

While businesses put in place software systems to protect their services, these systems can still breakdown if employees are not sufficiently cyber-aware. A new report outlines some important advice.

As oil prices dive, Iraqi Kurds seek to diversify economy

- Iraq's Kurdish region has for decades lived off its oil wealth, but plummeting energy prices amid the pandemic and financial mismanagement are forcing locals to return to long abandoned farms.

Tennessee factory to become GM's 3rd electric vehicle plant

In a prepared statement Tuesday, General Motors announced plans to spend $2 billion to convert its Spring Hill, Tennessee, assembly plant into a third U.S. site to build future electric vehicles.

Are managers adequately supporting employees through COVID-19?

Coronavirus has disrupted the world of work. A new report finds that 84 percent of managers believe they are giving employees the support they need. However, the responses from employees are not necessarily in tune with this view.

Arrest warrants issued for founders of Panama Papers firm: report

Berlin - Germany has issued international arrest warrants for the two founders of the firm at the centre of the tax haven scandal exposed by the Panama Papers data leak, German media reported.

SK Hynix to buy Intel's NAND memory chip business in $9bn deal

Seoul - The world's second-largest chipmaker, South Korea's SK Hynix, is to buy Intel's flash memory chip operation in a deal worth $9 billion, it said Tuesday, as it seeks to bolster its position against Samsung.

Insurtech: Concentration among top 10 players is accelerating

A new report from Deloitte finds that Insurtech funding is nearly even with the levels of investment seen in 2019. However, within this coronavirus era growth, the concentration among top 10 players is accelerating.
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