Goldman Sachs strategists see no reason to expect a significant fall in the US stock market in the coming months. The S&P 500 index, which includes the 500 largest US companies, rose to an all-time high on Friday. Strategists at investment bank Goldman Sachs said they saw no reason to expect a significant fall in the US stock market in the coming months. Bloomberg wrote about it with reference to...

Bloomberg reports that China Evergrande Group has been pronounced a defaulter, marking the end of the world's most problematic developer's months-long financial drama. The Chinese real estate behemoth has defaulted on its debt payments. Evergrande has been declared in default by Fitch, which has downgraded company to "limited default" due to its inability to pay a $82.5 million coupon when it was...

Volkswagen is still planning an initial public offering for Porsche, the sports car manufacturer. According to Handelsblatt, Porsche might be valued at €45-90 billion as a result of the IPO, with the funds going toward the company's transition to electric vehicle manufacture. Throughout the year, there have been rumors about a prospective Porsche IPO. However, according to Handelsblatt, which...

Tim Cook, the CEO of Apple, struck a $275 billion "secret" arrangement with Chinese officials in 2016 to get around the country's limits on his company's activities. Information reported on this, citing unnamed sources. Apple promised to invest in China's economy in exchange for the authorities' devotion under the five-year pact. After Apple faced a "series of regulatory proceedings" from the...

One of the world's richest men, Jeff Bezos, last year pledged to give $10bn to fight climate change by 2030. He has only paid out $791m of the pledge. On 6 December it was revealed that the billionaire will give a further $443m to climate organisations as part of his Earth Fund. Jeff Bezos, the founder of Amazon Marketplace and Blue Origin, will allocate another $443 million from his Earth Fund...

Saudi oil and gas company Saudi Aramco has agreed to sell 49% in its new subsidiary Aramco Gas Pipelines Company to a consortium led by BlackRock Real Assets in a deal worth $15.5 billion, the company said in a statement. "Saudi Aramco signed a 15.5 billion USD agreement to lease and lease back the (company's) gas pipeline system with a group of companies led by Hassana Investment Company and...

During the visit of French President Emmanuel Macron to Saudi Arabia, Saudi Aramco, the Saudi state-owned oil and gas business, struck five deals with prominent French firms, including one with JOSEN to develop hydrogen vehicles. "We have signed a number of memorandums of understanding and agreements with several leading French companies to develop carbon reduction solutions, including an...

Central Retail, a Thai corporation, will purchase Selfridges, a British luxury department store, for £4 billion ($5.3 billion), said The British publication The Times, citing sources. According to reports, the purchase might be completed before the end of the year. Selfridges is one of the most well-known department shops in the United Kingdom, with its first store opening in London in 1909. The...

The Frankfurt headquarters of the consulting firm PwC, as well as its offices in Berlin, Hannover, Stuttgart, and Düsseldorf, were searched on the 30th and 1st of November. It was reported in German media, citing a statement from the Frankfurt prosecutor's office concerning searches of a company's offices and sources claiming it was PwC. PwC Germany also stated that it is participating with the...