Italy’s Saipem and Norway’s Subsea7 will combine in a merger worth an estimated $4.86 billion, The Wall Street Journal reported. The union will create a global company offering construction, drilling, engineering, and logistics services to the oil and gas industry.
The Trump administration’s plan to slash the federal workforce will dump millions of square feet of empty square feet onto the office property market nationwide at a time when the sector is just beginning to stabilize after sliding for the past five years, The Wall Street Journal reported.
Hong Kong Exchanges and Clearing (HKEX), which operates Hong Kong’s stock exchange, booked a record profit of HK$13.1 billion, boosted by 71 new companies joining the exchange and a late-year rally after Beijing promised a major economic stimulus for the mainland.
The city of Hong Kong, facing a fifth budget deficit in the last six consecutive years, plans to chop 10,000 government workers from its payroll and embrace artificial intelligence (AI) to boost its economy.
Confirming our forecast made in “Bid Farewell to the Business Travel Economy,” (29 Sep 2020), the owner of British Airways said last week that business travel will never return to its pre-COVID volumes.
Confidence in Canada’s economy among small business owners sank for the third month in a row in the newest survey by the Canadian Federation of Independent Businesses (CFIB).
Following up on a broad stimulus commitment made last year to revive its torpid economy, China’s government plans to recapitalize three of its largest state-run banks in the months ahead, people familiar told Bloomberg.
Germany’s Bundesbank lost €19.2 billion last year, its first negative year since 1979.
The economic landscape has presented an array of challenges that will profoundly affect the business community this year.
Nearly one hundred companies are expected to lay off employees in March, according to a report in the Economic Times.