Saudi Arabia's state-owned oil major Aramco will takeover Port Arthur Texas refinery in the US. Saudi Arabia will refine its oil shipped from Middle East at Port Arthur refinery and also sell it in the huge North American market.
Industry
Wall Street is Skeptical About Apple Being Google’s Cloud Service Big Costumer
Deutsche Bank expressed its skepticism on the hype created around Apple’s shift to Google’s Cloud Platform from Amazon’s AWS. The bank believes that the move will not have a significant impact and that Apple is just trying to reduce its reliance on just one service.
KBW Suggested to Break Citigroup to Increase Shareholders' Value
The analyst at Keefe, Bruyette & Woods believed the breakup would increase shareholders value by 57%. However, Citigroup has asked its shareholders to vote against the too-big-to-fail proposal.
US existing home sales decline by 7.1% in February
Sales of existing homes declined in February, reflecting poor demand in housing sector amid higher prices and weak inventory.
Valeant Pharmaceuticals Announced to Sack Two Executives
In the continuing saga on Valeant, CFO Howard Schiller has been asked to resign. The company will also find the replacement of CEO Michael Pearson, and putting Bill Ackman in its board.
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IHS and Markit, two of the information titans announced of their merger with a $13 billion deal. Once the deal is closed, it will be renamed IHS Markit with a "definitive agreement" for "an all share of equals".
Airlines are now retiring from hedges after being hurt by low fuel prices. The 58% drop in crude prices since the middle of 2014 has pushed hedge market into a draconic loss, leading airlines to shy away from hedges
Profit booking pulled yellow metal on Monday below psychological mark-$1,250 an ounce. Gold price fell for four weeks in the past five weeks.
Ride-hailing app Grab is partnering with Indonesian conglomerate Lippo Group. Under the deal, Grab will provide its service to deliver products from the conglomerate’s e-commerce. The deal emerged when ride-hailing services in Indonesia are facing challenges in terms of regulations.
Amazon is pushing the U.S. officials to authorize their moves in efforts to be a new player in the logistics and delivery industry. In recent months, the company has been making moves to achieve the ambition, including building its drones fleet and leasing Boeing planes.
Francesca McDonagh, head of HSBC's retail business in the UK, is astonished over the lack of female representatives in the banking sector. She is worried about the slow progress of female reps in senior posts.
Bethany Mota, the YouTube and Instagram star may be the last hope to help Aeropostale. The retailer can bring millions of Mota's follower in Instagram and YouTube to the store.
Affymetrix said its Board has rejected an offer from Origin Technologies, which was aimed to disrupt its potential sale to Thermo Fisher.
German discount retailer Aldi will hire 700 apprentices this year, twice of its recruitment in in 2015. Aldi has set a target of 1,000 stores in the UK by 2022.
