Social media users in China have criticised H&M for rejecting cotton from Xinjiang, which the company suggests is produced by the forced labour of Uigur Muslims. Major online retailers Tmall, Jingdong and Pinduoduo have joined the boycott, removing H&M clothing from their catalogues. Chinese social media users criticised clothing retailer H&M for a statement which the company released last...

We Company, which includes the co-working service WeWork, will make a second attempt to become a public company, Reuters reported. After a derailed September 2019 IPO, the company wants to go public through a merger with a specialized target mergers and acquisitions company (SPAC), sources told the agency. It is currently in talks with a shell company BowX Acquisition Corp, which raised a $420...

Investors who once invested in Credit Suisse funds used for the operations of bankrupt start-up Greensill are preparing class action lawsuits against the Swiss bank. According to the Financial Times, the investors accuse Credit Suisse of misleading them. The bank advertised the aforementioned funds to its clients as some of the safest to invest in. In total, the funds ended up being worth...

Twitter founder Jack Dorsey has sold an NFT token on his first tweet for $2.9m. The buyer was Bridge Oracle CEO Hakan Estavi. Twitter founder Jack Dorsey's first tweet was sold as an NFT token for $2.9 million, the deal was recorded on auction platform Valuables.  "Hi Jack. Thank you for accepting my offer. I'm glad this money will go to charity," Estavi tweeted. Earlier, Jack Dorsey...

Saudi Aramco's net profit in 2020 fell 1.8 times to $49bn from $88.2bn a year earlier, according to the company's accounts. Saudi Aramco president Amin Nasser said last year was one of the most challenging in the company's history due to the impact of the coronavirus pandemic. "However, as a result of the increased focus on capital and operational efficiency, the company's financial position has...

The U.S. Federal Aviation Administration (FAA) has decided to independently inspect Boeing 787 Dreamliner aircraft before giving the manufacturer permission to hand them over to airlines. This was reported by The Wall Street Journal (WSJ) with reference to FAA sources. Boeing was forced to halt deliveries of the Dreamliner last December after a manufacturing defect was discovered in the fuselage...

International investors are increasingly concerned about accelerating inflation and rising debt market rates, which bode well for the global economy. However, as long as central banks keep monetary policy accommodative, the debt crisis will be delayed. According to March's Bank of America Merrill Lynch (BofA) survey of portfolio managers, only 12% of respondents identified COVID-19 as a key risk...

Xiaomi founder's capital surged by nearly $1.5bn after the company's shares rallied. The smartphone maker has secured a suspension of US sanctions imposed by the Trump administration in the final days of his presidency. The fortune of Xiaomi founder and CEO Lei Jun rose by $1.4bn to $23bn on Monday, Forbes Real-Time ranking data updated in real time showed. The billionaire's capital surged...

Canadian telecommunications company Rogers Communications has announced the purchase of rival Shaw Communications. The deal will be valued at C$26 billion ($20.8 billion) and includes $4.8 billion in debt repayments from Shaw. Shaw shareholders will receive C$40.50 per share, a premium of nearly 70% over the company's share price on Friday. The deal will create Canada's second-largest wireless...