Two investment firms will buy a majority stake in Hertz Global Holdings Inc for $4.2 billion under a restructuring plan expected to help it out of bankruptcy by early- to…
Category: Business
Germany’s BaFin examines EY as auditor after Wirecard scandal
Germany’s financial regulator BaFin is examining EY’s suitability as a financial auditor following the collapse of payment services firm Wirecard, Handelsblatt newspaper reported on Tuesday, citing an economy ministry document.…
Baker Hughes, Akastor merging oil drilling ops, eye IPO
Baker Hughes and Norway’s Akastor plan to merge their offshore oil drilling equipment units to combine their complementary technologies, with a view to listing the new company longer term, they…
Canadian dollar adds to Monday’s rally as economy grows
The Canadian dollar edged higher against its U.S. counterpart on Tuesday, adding to the previous day’s rally as oil prices rose and domestic data showed faster-than-expected economic growth. Canada’s economy…
Miners gear up global rare earth projects as prices surge
Miners are seeking to take advantage of a jump in the prices of many rare earth elements, needed for permanent magnets used in low-carbon technologies as well as myriad other…
Arctic island finds green power can be a curse
In the tenth century, Erik the Red, a Viking from Iceland, was so impressed with the vegetation on another Arctic island he had found he called it “the green land.”…
Betting on death of petrol cars, Volvo to go all electric by 2030
Volvo’s entire car lineup will be fully electric by 2030, the Chinese-owned company said on Tuesday, joining a growing number of automakers planning to phase out fossil-fuel engines by the…