Bank of China plans to invest up to 10 billion yuan ($ 1.44 billion) to launch a capital management subsidiary, reports The Paper. Following 14 small and medium-sized commercial banks that announced their intention to establish asset management subsidiaries, Bank of China was the first of the four largest state-owned banks to make this decision. The subsidiary will use Bank of China’s own funds...

The net loss of Uber Technologies taxi service increased in Q3 by 20% qoq to $ 1.07 billion, reports The Wall Street Journal, citing the company's financial report. Uber Technologies is not a public company and is not required to report on its financial performance. Nevertheless, the company has been providing reports for the last few quarters, preparing for an initial public offering (IPO)....

Other large Western banks could be involved in capital transfer and money laundering schemes. The € 200bn laundering scandal through Danske Bank can only be the “tip of the iceberg,” says Stephen Cohn, an American lawyer representing the investigation’s informer from Howard Wilkinson’s credit organization. The investigation should check other major Western banks for participation in illegal...

The subsidiary of the company specializing in real estate services is expanding its presence throughout the world, from Italy to Japan and the Middle East. The real estate business of Warren Buffett’s empire has been waiting for signing of its first overseas franchise deal for 18 years. Berkshire Hathaway HomeServices is expanding its presence in the world from Italy to Japan and the Middle East....

American companies have increased prices of many products, from air tickets and paints to food. They rely on the fact that consumers can afford to pay more, and they charge them with an increase in costs for fuel, materials and food. This actually means the end of a long period of low inflation, due to which the US Federal Reserve (FRS) has kept interest rates around zero for many years. Food...

Chinese company Alibaba Group Holdings Ltd. set a new sales record on the tenth anniversary of the sale on the occasion of the Day of Bachelors, which is celebrated in China on November 11th. However, the growth rates were the lowest in the entire history of this holiday shopping. The volume of goods sold on Alibaba platforms on this day reached $ 30.8 billion, which is 21.7% higher than the...

Bombardier Inc. intends to sell two units for about $ 900 million and cut 5 thousand jobs, according to Reuters. Shares of the company on Thursday fell by 26% due to the disappointing free cash flow forecast. The Canadian manufacturer of aircraft and trains reported that it can achieve the target free cash flow in 2018 only using revenues of $ 635 million from the sale of a plant in Toronto....

American Symantec, one of the leading developers of computer programs for data security, received an acquisition offer from direct investment company Thoma Bravo, reports The Financial Times, citing informed sources. According to media reports, Thoma Bravo intends to delist Symantec shares once the deal is signed. The Financial Times, Reuters and CNBC failed to set a proposed takeover price....

The two largest aircraft manufacturers in the world signaled on Tuesday that they were interested in ending the trade war between the United States and China, Reuters reported. Boeing and Airbus made comments on the opening day of the International Airshow China 2018, which will be held November 6-11 in Zhuhai. Foreign airlines are interested in deals with China due to its growing demand for...