Accor reports $2.5 billion loss, hopeful of a recovery by next year

Accor reports $2.5 billion loss, hopeful of a recovery by next year

By Anna Domanska - Feb 25, 2021

Accor, Europe’s largest hotel chain, reported a $2.5 billion net loss in 2020 due to the deterioration in the industry...

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Is the sun shining again on AMC stock?

Is the sun shining again on AMC stock?

By Anna Domanska - Feb 25, 2021

As the old adage goes, good things come to those who wait. This might come true for movie theatre operator AMC Entertain...

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HSBC turns to Asia for future growth

HSBC turns to Asia for future growth

By Anna Domanska - Feb 24, 2021

The bank’s maximum pre-tax benefits (90%) come from its Asian business. Chairman Mark Tucker and chief executive N...

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Wells Fargo to forego asset management unit to private equity for $2.1 billion

Wells Fargo to forego asset management unit to private equity for $2.1 billion

By Anna Domanska - Feb 24, 2021

Wells Fargo has been underperforming for the past few years and has undertaken cost-cutting and restructuring to improve...

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Lucid Motors partners with Churchill Capital IV to go public in SPAC mega deal

Lucid Motors partners with Churchill Capital IV to go public in SPAC mega deal

By Anna Domanska - Feb 24, 2021

Lucid Motors, the luxury electric vehicle makers, will go public with a blank-check firm Churchill Capital IV Corp in a ...

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Aviva hives off French unit to Aéma Groupe for $3.9 billion

Aviva hives off French unit to Aéma Groupe for $3.9 billion

By Anna Domanska - Feb 23, 2021

UK’s leading insurer Aviva Plc has sold its French unit for 3.2 billion euros ($3.9 billion), marking the biggest deal...

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M&T acquires People's United Financial for $7.6 billion

M&T acquires People's United Financial for $7.6 billion

By Anna Domanska - Feb 22, 2021

In the latest series of US regional banks going in for acquisitions to enter the big boys’ club, M&T Bank has ente...

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Swiss Re reports $878 million loss driven by the pandemic effect

Swiss Re reports $878 million loss driven by the pandemic effect

By Anna Domanska - Feb 22, 2021

Swiss Re Group, the reinsurance company, reported a net loss of US $878 million for 2020. The company’s net income ros...

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Canada joins Australia in its unfriendly contest with Facebook

Canada joins Australia in its unfriendly contest with Facebook

By Anna Domanska - Feb 20, 2021

The spat between Facebook and some countries asking social media companies to pay up to publish or link news content on ...

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