German chemical concern BASF reported on the prospects for a noticeable deterioration in profits against the background of a slowdown in the global economy, as well as plans for a large-scale downsizing. In a press release, BASF noted that the company had to revise previous estimates for Q2 2019. A deterioration in industrial production in many countries, as well as the continuing trade conflict...

Amount of the fine, imposed on a British airline, exceeds £183 million. British Airways is accused of weak security measures, which led to the leakage of data of 500 thousand customers. British airline British Airways (BA) faces a fine of £183.39 million (€205 million) due to a scandal around customers data leak. This follows from the statement of the British Information Commissioner’s Office...

Broadcom processor manufacturer is interested in buying cybersecurity software developer Symantec, reports Bloomberg, citing sources familiar with the negotiations. According to the publication’s informants, the deal has already been concluded, but will be officially announced later. The cost of the transaction is more than $ 15 billion, which is $ 6 billion less than the price of Symantec two...

Shares of China Tobacco International, a subsidiary of the largest cigarette maker in the world, has risen by almost 500% in three weeks of trading on the Hong Kong Stock Exchange. Experts call this absurdity and consider the behavior of investors irrational. Shares of China Tobacco International went up by 44% to close the previous day of trading on the Hong Kong Stock Exchange on Wednesday...

Deutsche Bank, Germany’s largest bank is going to restructure due to the crisis, which could result in a loss of €5 billion, The Financial Times reported, citing its own sources. "Reduction of the investment banking division of Deutsche Bank will lead to the fact that the largest creditor of Germany this year will suffer losses equal to €5 billion," the newspaper writes. The bank’s Chief...

There are only two weeks before the start of the reporting season for the second quarter, and Wall Street is expected to reduce its total earnings per share by 1% year-on-year. “If the predictions come true, this will be the first annual EPS decline since 2016,” said David Kostin, Goldman Sachs chief investment strategist in the United States. Such news should not be a surprise for market...

The new rating of The Banker magazine includes thousands of the world's largest banks. Its top is full of banks from China, followed by American financial companies. The Banker magazine revealed its latest rating of thousands of the world's largest banks. The banks are ranked by size of Tier I capital. The global rating does not include banks that belong to foreign parent financial groups, even...

Representatives of the South Korean industrial conglomerate Hyosung Corporation signed a memorandum of understanding with representatives of Saudi Arabia oil company Saudi Aramco. It is reported by Maeil Business Newspaper, citing company representatives. According to them, the document between CEO of Saudi Aramco and Head of the Hyosung Corporation was signed at the five-star Conrad Seoul hotel,...

The Irish subsidiary of the American financial giant has violated asset management regulations. The Irish regulator fined local subsidiary of JP for € 1.6 million. The financial institution violated the country's regulatory requirements. In three cases out of four, this concerns outsourcing of asset management activities. In March 2014, the Central Bank conducted a study on the current...