Companies & CEOs
Kia Motors net profit falls over 2.4 times in Q1 - 04/24/2020
Net profit of the South Korean automobile company Kia Motors in the first quarter of 2020 fell by 2.4 times - to 266 billion Korean won ($216 million), the company said.Net profit of the South Korean automobile company Kia Motors in the first quarter of 2020 fell by 2.4 times - to 266 billion Korean won ($216 million), the company said. At the same time, revenue for the quarter amounted to 14.567...
NASDAQ quarterly profit rises amid pandemic - 04/23/2020
The American company NASDAQ, which manages a stock exchange of the same name, as well as several European stock exchanges, including Stockholm and Copenhagen, published its first quarter results on Wednesday - its net profit grew by 23%, to $ 251 million. The growth is associated with the activation of exchange trading due to the coronavirus pandemic as the company receives the main income from...
Beyond Meat to sell veggie meat foods at Chinese Starbucks - 04/22/2020
Beyond Meat, a manufacturer of meat substitutes, will begin selling its products at Starbucks coffee chain in China from Wednesday. The company said its products, containing a "vegetable substitute for ground beef," will be available in more than 3.3 thousand coffee houses across the country. In total, there are over 4.3 thousand Starbucks Corp. coffee houses in China, writes The Wall Street...
Coca-Cola sales drop by 20% in April - 04/22/2020
Coca-Cola reported that its revenue was $ 8.6 billion in the first quarter of this year, which is 1% less than a year earlier. The company's net profit amounted to $ 2.8 billion, which is 65% more than in the same quarter of the previous year. The company noted that in the first two months its revenue grew by 3% (excluding China). However, in March, the company began to feel the effects of the...
Volkswagen to pay €620M within Dieselgate case - 04/21/2020
Volkswagen Automobile Group has agreed on compensation in the total amount of €620 million to 200 thousand car owners affected by the diesel scandal as part of a pre-trial settlement of a class action lawsuit, the concern said in a press release. The money will be paid starting from May 5. Depending on the model and age of the purchased diesel car, buyers can receive from €1350 to €6250. In the...
Baselworld key participants leave for Watches & Wonders, the oldest Swiss watch salon nearly ruined - 04/17/2020
The dispute between the watchmakers and the management of Baselworld Salon ended in the most incredible way. The main participants of the Basel watch fair - Rolex and Tudor, Patek Philippe, Chanel, Chopard - chose to break with the organizers and went to the camp of competitors, establishing a new watch fair on the basis of the Geneva Watches & Wonders. Rolex, Patek Philippe, Chanel, Chopard...
Citigroup shows nearly twofold loss in profit in Q1 2020 - 04/16/2020
Net profit of one of the largest financial corporations in the world Citigroup Inc. decreased by 1.87 times in the first quarter of 2020, up to $ 2.52 billion compared to the same period in 2019, follows from the corporation’s statement. Diluted earnings per share were $ 1.05 versus $ 1.87 a year earlier. According to the results of the reporting period, the revenue of the financial giant grew by...
Nike, Adidas footwear manufacturer may stop working in Vietnam - 04/14/2020
The largest manufacturer of sports shoes Pou Chen Corp may temporarily stop production in Vietnam in connection with the spread of coronavirus, according to Bloomberg. The authorities in Ho Chi Minh City, where the factory is located, are concerned that it continues to operate. A letter of the city’s mayor to the country's prime minister expresses concern that in the event of an outbreak of...
Airbus slows production down - 04/09/2020
On Wednesday, Airbus announced plans to cut back on jetliners worldwide after the coronavirus epidemic triggered the worst industrial crisis in aviation and sharply cut supplies. In its largest production adjustment in history, the European manufacturer said it was reducing the output of its best-selling narrow-body A320 family by one-third to 40 aircraft per month. The company is also reducing...
Saudi Public Investment Fund spends nearly $1B to buy oil companies papers - 04/09/2020
The Saudi Arabia Sovereign Fund (Public Investment Fund, PIF) has begun to buy stakes in European oil and gas companies, taking advantage of the reduction in their quotes amid falling oil prices and the coronavirus pandemic, the Wall Street Journal reports citing its own sources. In recent weeks, the Saudi Arabia Sovereign Fund has acquired stakes in Norwegian Equinor, Anglo-Dutch Royal Dutch...
