Companies & CEOs
Tea shop operator Baicha Baidao is getting ready for the biggest IPO for Hong Kong in 2024 - 04/17/2024
South China Morning Post, citing documents on the exchange's website, reports that China's Sichuan Baicha Baidao Industrial—owner of the well-known ChaPanda tea shop chain—plans to begin an initial public offering (IPO) on the Hong Kong Stock Exchange for HK$2.5 billion ($330 million). The offering might be the biggest made in Hong Kong in 2024. Baicha Baidao plans to sell 147.7 million shares...
Dr. Martens announces upcoming change of CEO - 04/17/2024
Kenny Wilson, the CEO of Dr. Martens Plc, a footwear firm headquartered in the United Kingdom, announced in a press release that he would retire prior to the end of the current fiscal year, which started in April. Ije Nwokorie, the chief brand officer of Dr. Martens, will take over as CEO. According to a press statement, the shoe manufacturer will reveal its FY 2024 results on May 30. These...
Volkswagen to invest €2.5 billion in expansion of innovation center in China - 04/16/2024
The production and innovation center in the city of Hefei, in the Anhui province of eastern China, is set to expand with the investment of €2.5 billion from the automaker Volkswagen Group China. A portion of these funds will also be utilized to expedite the manufacturing of two smart electric vehicles under the Volkswagen brand, on whose development the German business is presently collaborating...
Hearings on Trump's criminal case start in New York - 04/16/2024
According to The Hill, on Monday the New York court opened hearings in the criminal case involving former US President Donald Trump. For the first time in American history a former head of state is being tried in a criminal case. Trump faces accusations of document falsification during the legal processes, which are commonly known as the "Stormy Daniels case" in the media. The Wall Street...
Gold exceeds $2400 per ounce for the first time in history - 04/15/2024
Friday's trade saw gold prices break beyond $2400 per ounce for the first time, setting yet another milestone. Quotes for June gold contracts on the New York Comex exchange had increased 1.7% to $2413.9 per ounce on Friday. The price of the precious metal has increased by more than 14% since the year's commencement. According to MarketWatch, the precious metals rally is driven by the Federal...
P&G recalls 8.2 million packs of laundry pods in the U.S. due to health risks - 04/08/2024
Due to potential health hazards, American Procter & Gamble Co. (P&G), the largest consumer products maker in the world, is voluntarily recalling approximately 8.2 million packets of Tide, Gain, Ace, and Ariel laundry pods in the United States and approximately 57,000 more packs in Canada. Product releases for these range from September 2023 to February 2024. According to P&G, the...
Alaska Airlines receives $160 million from Boeing for a hatch plug that broke off - 04/05/2024
Alaska Airlines announced that it has received the first payment from Boeing related to an early January incident. The American airline's 737 MAX 9 aircraft then experienced cabin depressurization as a result of the emergency exit hatch plug falling off. The airline lost around $160 million in potential income in the first quarter as a result of the event, it stated. These include the cost of...
Ripple announces launch of its own stablecoin at the end of 2024 - 04/05/2024
In late 2024, Ripple plans to introduce its own stablecoin based on the Ethereum and XRP Ledger blockchains. The Block reports that blockchain startup Ripple has revealed plans to release its own stablecoin based on the Ethereum and XRP Ledger networks in late 2024. The stablecoin will be supported by dollar deposits, short-term US government treasuries, and other currency equivalents. "These...
Reuters: Premium electric car brand from China returns to U.S. IPO plans - 04/04/2024
Geely's premium electric vehicle brand Zeekr has resumed preparations for an initial public offering (IPO) in the US, according to sources cited by Reuters. Zeekr later lowered its estimates in half from the $1 billion it had originally hoped to raise in the deal. According to Reuters, which cites people familiar with the matter, Zeekr, a high-end electric vehicle brand owned by Chinese...
US watchdogs turn attention to BlackRock and Vanguard’s large stakes in banks - 04/03/2024
According to The Wall Street Journal, the Federal Deposit Insurance Corporation (FDIC) and other US banking authorities are curious as to whether investment funds BlackRock, Vanguard, and State Street Corp. are investing in US bank stocks in a passive manner. All told, the three firms oversee over $23 trillion in assets, the majority of which are invested in funds that essentially replicate...
