• Germany's BASF starts building $10bn project in China

      Germany's BASF starts building $10bn project in China

      German chemical giant BASF has begun construction of its $10bn integrated petrochemicals project in China’s southern province of Guangdong, the company said in a statement on Saturday. The project based in the city of Zhanjiang will be China’s first wholly foreign-owned chemicals complex, for which a framework agreement was signed in January.

      30
    • PayPal acquires shopping reward site Honey for $4bn

      PayPal acquires shopping reward site Honey for $4bn

      PayPal announced Wednesday it has agreed to acquire Honey Science Corporation, the makers of a deal-finding browser add-on and mobile application, for $4bn, mostly cash. The acquisition, which is PayPal’s largest to date, will give the payments giant a foothold earlier in the customer’s shopping journey. Instead of only competing on the checkout page against credit cards or Apple Pay, for example, PayPal will leap ahead to become a part of the deal discovery process, as well.

      29
    • Amnesty: Google, Facebook business models threat to rights

      Amnesty: Google, Facebook business models threat to rights

      The data-collection business model fueling Facebook and Google represents a threat to human rights around the world, Amnesty International said in a report Wednesday. The NGO argued that offering people free online services and then using information about them to target money-making ads imperils a gamut of rights including freedom of opinion and expression.

      31
    • Tata Steel plans to cut jobs in its European factories

      Tata Steel plans to cut jobs in its European factories

      Tata Steel plans to cut jobs across its European operations in attempt to tackle excess supply and high costs, the company said last Monday cited by news wires. Tata's European business employs around 20,000 people. So far, no layout numbers have been made public. In an emailed statement, Tata said challenging market conditions had been made “worse by the use of Europe as a dumping ground for the world's excess capacity”.

      41
    • Emirates announces order for 50 Airbus A350s

      Emirates announces order for 50 Airbus A350s

      Dubai-based carrier Emirates announced on Monday it would be buying 20 additional wide-body Airbus A350s, bringing its total order for the aircraft to 50 in a deal worth $16bn at list price. Separately, the Emirati budget carrier Air Arabia announced the purchase of 120 new Airbus planes in deal worth $14bn.

      37
    • Alibaba confirms huge Hong Kong public listing

      Alibaba confirms huge Hong Kong public listing

      Chinese technology giant Alibaba on Friday confirmed its plans to list in Hong Kong in what is considered a $13bn vote of confidence in the turbulent city's markets and a step forward in its plans to go global. The enormous IPO, which Hong Kong had lobbied for, will come as a boost for authorities wrestling with pro-democracy protests that have tarnished the financial hub's image for order and security and hammered its stock market.

      35
    • Google amassed private health data on millions of people

      Google amassed private health data on millions of people

      Google has tapped a partnership with one of the US’ largest health care systems to advance its healthcare software services offerings. To achieve that, however, it has collected and analysed the personal health information of millions of Americans across 21 states, without informing them in advance or asking for their consent, The Wall Street Journal reports.

      40
    • Up to 50 Boeing planes grounded globally over cracks

      Up to 50 Boeing planes grounded globally over cracks

      Boeing announced Thursday up to 50 of its popular 737NG planes had been grounded after cracks in them were detected, in another blow to the US aircraft maker following two deadly crashes. The announcement comes after Australian national carrier Qantas became the latest airline to take one of the planes out of the air, as it said it would urgently inspect 32 others.

      45
    • Fiat Chrysler, Peugeot in talks to create $50bn car giant

      Fiat Chrysler, Peugeot in talks to create $50bn car giant

      US-Italian auto giant Fiat Chrysler and France's Groupe PSA, the maker of Peugeot and Citroen cars, announced Wednesday they are in merger talks that could create the world's number four automaker. Fiat Chrysler Automobiles (FCA) said in a statement it "confirms there are ongoing discussions aimed at creating one of the world's leading mobility groups" with PSA. The statement and a similar one from PSA however offered no additional details.

      101
    • Microsoft wins Pentagon's $10bn contract

      Microsoft wins Pentagon's $10bn contract

      The Pentagon announced on Friday it is awarding a $10bn cloud computing contract to Microsoft, following a highly scrutinised bidding process which Amazon had been favored to win. The 10-year Joint Enterprise Defence Infrastructure Cloud ( better known as JEDI) contract is part of a broader digital modernisation of the Pentagon meant to make it more technologically agile.

      53