Companies & CEOs
SEC investigates BMW in USA over sales reporting - 12/25/2019
US authorities have launched an investigation into BMW due to company reporting. The financial market regulator found the sales information suspicious as BMW is overtaking its main competitor, Mercedes-Benz. The U.S. Securities and Exchange Commission (SEC) has launched an investigation into BMW over the company’s reporting. BMW’s spokesman told the newspaper that the US authorities contacted the...
DP World to invest $ 500M in Saudi Arabia's largest port - 12/24/2019
The Saudi Arabian Port Authority has transferred 30 years of concession rights to manage and develop the South Container Terminal in the Islamic Port of Jeddah to one of the world's largest port operators, DP World, the company said. Under the agreement, DP World will invest up to $ 500 million in modernization of the Islamic port of Jeddah, including development of infrastructure that will allow...
US authorities to check IPOs of Slack and other unicorns at NYSE - 12/23/2019
The US Securities and Exchange Commission is investigating Slack’s listing, writes The Wall Street Journal. The regulator was also interested in information about initial public offerings of other companies. The US Securities and Exchange Commission (SEC) is studying the listing of Slack, owner of the eponymous corporate messenger, as well as placements of other large companies on the New York...
Church of England doubts compatibility of investments with faith - 12/23/2019
The Church of England decided to find out if its investment fund can hold shares in major technology companies. The doubts are caused by fears that artificial intelligence undermines "the very idea of God". The Church of England will examine compatibility of investments in major technology companies with the Christian faith. A verification of this issue over the next 12 months will be undertaken...
Goldman Sachs ready to pay about $ 2 billion in fines for 1MBD scandal - 12/20/2019
The financial holding company is ready to pay about $ 2 billion in fines to resolve the proceedings. Goldman Sachs is in active negotiations with the U.S. Department of Justice to pay fines of about $ 2 billion for participating in a scandal over the 1MBD Malaysian fund, CNBC reports citing sources. Although negotiations have not yet been completed, an agreement may be reached next month, the...
Andrew Bailey to replace Mark Carney as Bank of England Head - 12/20/2019
Andrew Bailey, Head of the UK Financial Conduct Authority, has been elected the new Head of the Bank of England, the Financial Times (FT) reports citing sources. 60-year-old Andrew Bailey will replace Canadian Mark Carney, who announced that he will leave the post of Head of the Bank of England on January 31, 2020. He has been managing the financial institution since 2013. In the years 2013-2016,...
Fiat Chrysler, Peugeot sign merger - 12/18/2019
American-Italian automobile concern Fiat Chrysler and French carmaker giant Groupe PSA (Peugeot Societe Anonyme) have signed a merger agreement. This was announced on Wednesday by the press service of the French automaker. "Fiat Chrysler and Groupe PSA today signed an agreement to merge their businesses in order to create the 4th largest car manufacturer in terms of production and the third...
Uber founder sells shares in his brainchild for more than $ 2 billion - 12/17/2019
Former Uber CEO Travis Kalanick continues to reduce his stake in the company he founded. Starting in November, he has been selling stakes every day except weekends. In total, the billionaire gained over $ 2 billion for securities. The founder and former CEO of Uber, Travis Kalanick (No. 298 in the ranking of the richest people in the world, with a fortune of $ 5.8 billion) has sold the company...
S&P confirms Alibaba's rating at A+ with stable outlook - 12/16/2019
The international rating agency S&P Global Ratings confirmed the issuer rating of the Chinese Internet company Alibaba Group at "A +", the rating outlook is stable, the agency said in a release. "We confirmed Alibaba's rating because we expect the company to remain dominant in China's large and growing e-commerce market. In addition, streamlining the company's costs should stop the recent bearish...
Wall Street analysts downgrade Netflix stock rating - 12/16/2019
Wall Street analysts are skeptical of Netflix's immediate prospects. The company has long been a market leader, but new competitors, namely, Disney + and Apple TV +, are gaining an increasing popularity thanks to the cheap subscriptions. If Netflix does not change its business model, then next year it could lose 4 million users. Recent data on the number of downloads of the Disney + app show that...
