US media companies CBS Corp and Viacom Inc have agreed to merge in the form of exchange of stocks. The deal will create a company with annual revenues of more than $ 28 billion. "The combined company - ViacomCBS Inc. - will become the leading global multi-platform company producing premium content, with assets, capabilities and scale that will enable it to become one of the most important content...

Givenchy French fashion house and American accessories manufacturer Coach, following Versace, apologized to China for t-shirts to designate Hong Kong and Taiwan as territories independent of China, CNBC reports. Coach's ambassador in China, supermodel Liu Wen, said on Aug. 12 on Weibo that she had terminated the contract with the company when she learned that the 2018 collection includes a...

Saudi State Oil Company Saudi Arabian Oil Co. (Saudi Aramco) for the first time presented a semi-annual report, and reported a decrease in net profit in the first half of 2019 by 12%, to $ 46.899 billion, due to lower oil prices. The company decided to disclose a semi-annual result in anticipation of $ 12 billion-worth IPO. Reuters recalls that the company submitted a report for 2018 earlier this...

Austrian AMS AG made a new offer to purchase the German Osram Licht AG, valuing the lighting equipment manufacturer at € 3.7 billion. The news was announced a few days after the company’s major shareholder rejected the offer from competitors with a lower amount. As part of the offer, Osram shares are valued at €38.5 per share, AMS said in a statement. This price is higher than €35 per share...

Uber taxi service suffered record losses in the second quarter of fiscal 2019, as follows from the company's statements. They amounted to $ 5.2 billion against $ 878 million in the same period last year. The service’s revenue increased by 14%, to $ 3.17 billion. According to the financial report, the number of bookings of trips using the service increased by 31% compared to the same period last...

Stock price of major video game companies fell after U.S. President Donald Trump accused them of promoting violence on Monday, according to the New York Stock Exchange. At the close of trading on Monday shares of Activision Blizzard Inc. lost 5.96% of the value and fell to $46.1 per share, Electronic Arts Inc fell by 4.63% to $88.59 per share, Take-Two Interactive Software Inc. lost 5.19% and its...

The international rating agency Fitch downgraded the long-term issuer default rating (IDR) of the pharmaceutical company Pfizer to “A” from “A +” with a “negative” outlook, the agency said. At the same time, the agency confirmed Pfizer's short-term IDR at 'F1'. "The acquisition of Array BioPharma for $ 11.4 billion increases leverage, as Fitch suggests that Pfizer will finance the acquisition...

Group CEO John Flint resigned and left the company’s board of directors, the organization’s press service said. He has been holding the post of CEO since October 2017 and has worked at HSBC for almost thirty years. The bank explained the decision by “an increasingly complex and challenging global environment” in which the firm has to work. Flint, whose words are quoted in the press release, noted...

Jeff Bezos, owner of the online retailer Amazon.com Inc., has sold about $ 1.84 billion in shares of his company, the company said in a notice to the US Securities and Exchange Commission (SEC). This is the first time when Bezos is selling Amazon shares for such amount. Earlier this year, Jeff Bezos in his annual letter to shareholders warned that in the future the company would face major...