Firms should respect market rules and correct mistakes, China’s commerce ministry said on Thursday, when asked about a backlash against Swedish retailer H&M after it expressed concern over forced labour…
Category: Business
Suez Canal suspends traffic while efforts to dislodge ship continue
The Suez Canal Authority said on Thursday it had suspended traffic temporarily while eight tugs work to free a giant container ship stranded in the southern stretch of the canal…
Nike faces social media storm in China over Xinjiang statement
Anger with Nike Inc erupted on Chinese social media late on Wednesday after China’s netizens spotted a statement from the sporting goods giant saying it was “concerned” about reports of…
Cineworld seeks room to raise more debt after $3 billion loss
Cineworld will ask shareholders to approve an increase in its debt ceiling next month after the pandemic-stricken cinema group plunged to a $3 billion loss last year. The Regal Cinemas…
Infrastructure bill could fuel stocks, but investors temper enthusiasm
A U.S. government plan to upgrade the nation’s infrastructure could further fuel the stock market’s rally, but skepticism about a massive spending package navigating political obstacles and the speed of…
Saudi Aramco announces management appointments
Saudi Aramco announced this week new appointments for top management positions effective April 1. The company appointed Khalid Al-Abdulqader as the vice president of unconventional resources. It appointed Nasir Al-Naimi…
U.S. tech companies use their expensive stock to pay for acquisitions
Cash may be king, but stock is queen in the land of technology mergers and acquisitions during a pandemic-fueled tech boom. Close to half the U.S. deals in the sector…