UK’s Pendragon to sell U.S. Motor Group business LONDON (Pakistan Press Club) – British car dealership Pendragon (PDG.L) is to sell its U.S Motor Group business after concluding a strategic review following a profit warning, it said on Monday. The firm, which warned on profit in October due to a fall in demand for new…
UK pushing to include Bitcoin under money-laundering rules LONDON (Pakistan Press Club) – Britain wants to increase regulation of Bitcoin and other digital currencies by expanding the reach of European Union anti-money-laundering rules that force traders to disclose their identities and report suspicious activity. With demand for Bitcoin surging, fuelling a 1,000 percent rally in…
Shareholders sue Australia’s Crown Resorts over China marketing SYDNEY (Pakistan Press Club) – Australian casino operator Crown Resorts Ltd (CWN.AX) was slapped with a class action lawsuit on Monday for allegedly failing to inform shareholders of a marketing campaign in China that resulted in staff arrests and a slump in the share price. The company…
Saudi Arabian exchange enlists Nasdaq to turbocharge technology DUBAI (Pakistan Press Club) – Saudi Arabia’s Stock Exchange said on Monday it has hired U.S. group Nasdaq (NDAQ.O) to replace its 16-year-old registry, depository and settlement infrastructure as it tackles challenges including the forthcoming listing of Saudi Aramco. The kingdom is rapidly developing its stock market,…
Global air passenger traffic demand up 7.2 percent in October: IATA Pakistan Press Club – Geneva Global demand for air travel climbed 7.2 percent in October, rebounding after September was disrupted by hurricanes, the International Air Transport Association (IATA) said on Monday. “As expected, the recent severe weather in the Americas region had…
Exxon eyes Egypt’s offshore oil and gas – resources LONDON/VIENNA (Pakistan Press Club) – Exxon Mobil (XOM.N) is considering a foray into Egypt offshore oil and gas, seeking to replicate rivals’ success in the country and boost its reserves, officials and industry sources said. Officials from the world’s largest listed oil producer recently held…
