Intending the erase the image of lavish supercar maker, McLaren has introduced its 570 GT model. The auto manufacturer has pledged to continue producing cheaper cars for broadening its arena in the UK automobile market. The car maker has adopted an expansion strategy involving £1 billion fund aiming to triple the yearly production.
Switzerland
Switzerland Orders Government Software to Become Open Source
Switzerland became one of the world’s first countries to mandate making its government website softwares to become open source with the implementation of the Federal Law on the Use of Electronic Measures for the Fulfillment of Government Tasks.
Nestle to Launch Weight Management Food Products Targeting Ozempic, Wegovy Users in Q4 2024
Nestle announced that they would be launching its ‘Vital Pursuit’ food line by Q4 2024, which would target those using the semaglutide drugs Ozempic and Wegovy.
UK, Switzerland Ink Post-Brexit Financial Services Deal
The United Kingdom (UK) and Switzerland have inked a landmark post-Brexit financial services deal on Thursday.
Canadian Pension Fund to Acquire 40% Stake in Agriculture Unit of Glencore For $2.5 Billion
Glencore is possibly nearer to a deal with Canda’s largest pension fund to sell 40% stake in its agriculture business. CPPIB has agreed to pay $2.5 billion against a total valuation of $6 billion. However, there is no guarantee that the deal will surely take place.
Latest News
Lamborghini is celebrating its founder’s 100th birth anniversary. To mark the day, the lavish car maker has unveiled a new Lamborghini Centanario supercar equipped with its signature V-12 engine. All the 40 production edition of the model has already been sold out which are scheduled to be manufactured within 2017.
Transocean's fourth quarter earnings exceeded the analysts' earnings estimate amid the ongoing fall in the oil market. The company managed to post a quarterly profit of $617 million by reducing its operating costs.
Rimac is going to display its first production model of electric vehicle, naming Concept_One. Workers in Rimac have preferred to spend more on development and design rather than on branding. However, the Concept_One will be valued like an exclusive sports car, placed above regular super cars.
The EFG International announced its intention to purchase the BSI Ltd in a deal worth about $1.34 billion. The deal will make EFG a leader in the private banking industry.
Knight Vinke removed a majority of his UBS shares from many investment institutions after his failure in convincing the bank to modify its strategy.
Switzerland receives about 1000 emergency calls from hikers every year. In order to create a technology that could give a faster response and search more effectively for lost or injured hikers, a group of researchers developed a software with a combination of Artificial Intelligence. The software enable drones to autonomously navigate forest areas and direct themselves to hiking trails.
As Credit Suisse booked its first full-year loss since 2008 on Thursday, CEO Tidjane Thiam asked his bonus to be reduced. The financial group reported a worse than expected net loss in 2015.
Julius Baer Group said it has attained the last settlement phase with the US Department of Justice. As per the terms of the deal, the Bank agreed to pay $547.25 million to evade prosecution.
Malysia has been witnessed to rock heavily centering 1MDB scandal. Both Malaysian currency and stock have been nose-dived over the past year and capital outflow taken place more frequently. The existing economic turmoil has led Moody’s to change Malaysia’s economic outlook from positive to stable citing 1MDB related economic turmoil as the reason.
