PEMEX downgraded to Ba3 by Moody’s

PEMEX downgraded to Ba3 by Moody’s

Petroleos Mexicanos' (PEMEX) has been downgraded to Ba3 from Ba2 with a negative outlook stemming from high business and liquidity risks. The liquidity has come under pressure due to upcoming debt maturities and as the company expands its production capacities. The...

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Apple, Microsoft, Alphabet Report Earnings

Apple, Microsoft, Alphabet Report Earnings

Tech majors Apple, Alphabet and Microsoft reported strong quarterly earnings results: Apple reported almost doubling of net profits in the quarter to $21.7bn vs. $11.2bn during the same period last year led by iPhone sales. Overall revenues grew 36% YoY to a quarterly...

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VW in talks for a $3bn Europcar Deal

VW in talks for a $3bn Europcar Deal

Automotive major Volkswagen’s consortium is in advanced talks to purchase French car rental company Europcar in a deal valued at around €2bn ($3bn). The potential offer is set at about €0.50 ($0.59) per share. At the end of June, Europcar’s hedge fund owners rejected...

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