BUSINESS | Rolls – Royce Plans Two – Week Shutdown Of Civil Aerospace Business

LONDON – – Britain’s Rolls – Royce said on Sunday it is proposing a two week operational shutdown of its civil aerospace unit over the summer as it manages costs due to the impact of the COVID-19 pandemic. The aero – engine maker has begun talks unions on the shutdown and cost cutting at its … More BUSINESS | Rolls – Royce Plans Two – Week Shutdown Of Civil Aerospace Business

Business News | BioNTech Investors, Amid Worry Over Shortage, Vows Vaccines To Be Delivered For Second Shot

MILAN – European countries should use all available vaccine doses provided by biotech firm BioNTech and its partner Pfizer because there will be enough for the requisite second booster shot due to a planned production ramp – up, BioNTech’s largest investor said. Some countries were believed to be withholding some vaccines for fear of shortage … More Business News | BioNTech Investors, Amid Worry Over Shortage, Vows Vaccines To Be Delivered For Second Shot

BUSINESS | McLaren Optimistic On Prospects For Automotive, Says Walsh

The McLaren Group is optimistic about the prospects for its luxury sportscar maker after the COVID-19 pandemic dealt a big hit to revenues this year, executive chairman Paul Walsh said on Sunday. McLaren’s third – quarter results published in November group revenues up 60% on the previous quarter but down 61% on the corresponding period … More BUSINESS | McLaren Optimistic On Prospects For Automotive, Says Walsh

SPORTS | U.S. – Based MSP Sports Capital Buys Into McLaren F1

MILAN – – U.S. – based investment group MSP Sports Capital is taking a significant minority stake in McLaren Racing in a deal the Formula One team said would give them the tools to return to the top of the sports. The long – term investment, announced on Sunday, is for an initial 15% holding … More SPORTS | U.S. – Based MSP Sports Capital Buys Into McLaren F1

BUSINESS | Japan Nike Ad On Bullying, Racism Sparks Hot Online Response

MILAN – A video ad from Nike Japan against bullying and racism that features biracial athletes and other minorities, such as those of Korean descent, has prompted a sharp online response including calls to boycott the company. Japan has traditionally prided itself on being racially homogenous, although successful mixed – race athletes such as tennis … More BUSINESS | Japan Nike Ad On Bullying, Racism Sparks Hot Online Response

BUSINESS | Twitter Release Plans To Relaunch New Verification Program Early Newt Year

Twitter Inc. on Tuesday released plans for its new policy on how people are ‘Verified’ on the site, an area the company has long promised to revamp to address confusion and criticism over the blue check-mark badges it uses to authenticate the identity of prominent accounts. The social media company said in a blog post … More BUSINESS | Twitter Release Plans To Relaunch New Verification Program Early Newt Year

BUSINESS | Oil Closes At Highest Level Since March

NEW YORK – – Oil rose about 4% on Tuesday to couch high not seen since March as a third promising coronavirus vaccine raised hope for fuel – demand recovery and U.S. President – elect Joseph Biden began his transition to the White House. Brent crude settled at $47.86 a barrel, gaining $1.80, or 3.9%. … More BUSINESS | Oil Closes At Highest Level Since March

ECONOMY | Saudi Aramco Plans Debt Market Comeback With Multi – Tranche Bond Deal

Saudi Aramco said on Monday it had hired banks for a multi – tranche U.S. dollar – denominated bond issuance, as the world’s largest oil company seeks cash amid lower oil prices. Gulf issuers have shown no sign of slowing this year’s blitz of issues on international debt markets as they work to plug issues … More ECONOMY | Saudi Aramco Plans Debt Market Comeback With Multi – Tranche Bond Deal

ECONOMY | Saudi Arabia To Import 860,000 Tons Of Wheat

RIYADH | SAUDI ARABIA – – The Saudi Grains Organization (SAGO) has completed procedures to import the fifth and the last batch of wheat for 2020 from the Black Sea countries, EU, Australia and the North and South America except Canada. The tender comprising 860,000 tons of wheat will reach the Kingdom between February and … More ECONOMY | Saudi Arabia To Import 860,000 Tons Of Wheat

BUSSINESS | Saudi Aramco Third – Quarter Profit Slumps 44.6% As Pandemic Chokes Demand

RIYADH | SAUDIA RABIA – Saudi Arabian state oil giant Aramco on Tuesday reported a 44.6% drop in third-quarter net profit as the coronavirus crisis continued to choke demand and weight on crude prices. Share prices of global oil companies have been hammered this year as investors fret over the impact of the pandemic on … More BUSSINESS | Saudi Aramco Third – Quarter Profit Slumps 44.6% As Pandemic Chokes Demand