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Bridging The Gap
Musk says he's talking with Saudi fund to take Tesla private. Musk says he's talking with Saudi fund to take Tesla private.
Saudi Arabia’s sovereign wealth fund would be the main source of money for Tesla CEO Elon Musk’s grand plan to take the company private, but the deal isn’t done yet, Musk disclosed in a blog on Monday. The fund approached Musk about going private multiple times during the past two years, and Musk says he left a July 31 meeting with no question that the deal could be closed. That’s why he tweete...
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IT fiasco pushes TSB into a loss IT fiasco pushes TSB into a loss
The technology meltdown at TSB earlier this year has cost the bank £176.4m, pushing it into a half-year loss. In April, almost two million customers lost access to online banking services after the bungled introduction of a new IT system. TSB says only 37% of more than 130,000 complaints have been resolved so far, and some IT issues are continuing. It reported a loss of £107.4m in the six...
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How Netflix went from pioneer to powerhouse How Netflix went from pioneer to powerhouse
When Netflix started out in 1999, as a mail-order DVD service, few would have bet that it would become a force that even the biggest media companies fear. In the early days it hastened the demise of neighbourhood movie rental stores. But it was in 2007 that it made the crucial move. That year it became a pioneer of online streaming, a development that would upend the media industry's traditi...
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$1.6 trillion economy: Texas is CNBC's top state for business in America this year $1.6 trillion economy: Texas is CNBC's top state for business in America this year
"The Texas economy remains in a broad-based expansion,” said Dallas Federal Reserve economists Christopher Slijk and Jason Saving in a recent report. “The state’s energy sector continues to boom, and areas of the state tied to oil and gas are growing at their strongest pace since 2014.” Texas has added more than 350,000 jobs in the past year, with the largest increase in the energy sector. Put ...
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Iran-Pakistan gas project to be pursued: Mandviwalla Iran-Pakistan gas project to be pursued: Mandviwalla
ISLAMABAD: Acting Chairman of the Senate Saleem Mandviwalla said on Tuesday that Pakistan was keen to see rapid progress on the Iran-Pakistan gas pipeline project and the government would pursue the project as it was in the interest of the country. He expressed the hope that the project would soon see the light of day. Talking to Ambassador of Iran Mehdi Hunardost at the Parliament House, Mr Ma...
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IMF agrees to loan up to $50bn for Argentina IMF agrees to loan up to $50bn for Argentina
The International Monetary Fund has agreed to lend Argentina up to $50bn (£37.2bn) as the country seeks to bolster its struggling economy. The three-year agreement must still be approved by the IMF board. Argentina, which has been plagued by economic problems for years, asked for assistance from the IMF on 8 May after its currency hit an all-time low. The country has committed to tackle i...
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Fiat Chrysler recalls 4.8 million US cars Fiat Chrysler recalls 4.8 million US cars
Fiat Chrysler is recalling 4.8 million US vehicles over a defect that could prevent drivers from turning off cruise control. It warned owners, including those outside the US, not to use the function until they get software upgrades. The Italian-American car maker said no injuries or crashes were related to the large recall campaign. But it had one report of a driver of a 2017 Dodge Journe...
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European Banking Needs Its Own Ryanair. European Banking Needs Its Own Ryanair.
With the unprecedented technological developments and innovations, the soundness of the banking system is also affected as new regulations are put in place. In this article, the author elaborates on how the model of Ryanair banking can make banks truly stable and adaptive to the new low-cost service providers, which retail customers demand. Following the global financial crises and the multi-b...
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On the Joy of Not being a Listed Company. On the Joy of Not being a Listed Company.
Being a listed company sure is beneficial and puts on an immediate and direct effect on the different aspects of the company. But will these effects stay in the long run or is it just for temporary convenience? In this article, Ren Zhengfei, Huawei’s founder and spiritual leader, talks about how Huawei’s conviction and determination on staying as a private company led it to where it is today. I...
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HPS Worldwide: Innovating global payments systems. HPS Worldwide: Innovating global payments systems.
In this article, we look at why a functioning global payments system matters, and talk to Mr Mohamed Horani, CEO of HPS, about how his company is meeting the challenge. Globalisation has been a term that has been with us for a long time. But what does it mean in the practical world of business and financial transactions? HPS might have some answers. Founded in 1995, HPS is an innovation-driv...
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