Companies & CEOs
French Engie, Canadian Caisse de Depot to buy part of Petrobras - 04/08/2019
The Brazilian state-owned oil and gas company Petroleo Brasileiro SA (Petrobras) has agreed to sell its division Transportadora Associada de Gas (TAG), a domestic gas pipeline network operator, to the French energy company Engie SA and Canadian pension fund Caisse de Depot et Placement du Quebec. The transaction’s amount, which will be the largest sale of an asset to Petrobras, will reach about $...
Carl Icahn sold his stake in Lyft to George Soros before IPO - 04/05/2019
Carl Icahn got rid of his stake in Lyft - Uber's main competitor in the United States - before the company entered the stock exchange. Icahn invested $ 150 million in Lyft four years ago and held its stake. On the eve of the company's IPO, it was estimated at $ 550 million. American billionaire Carl Icahn sold his share in the Lyft Inc. taxi call service (2.7%) on the eve of the initial public...
Carlos Ghosn rearrested in Japan - 04/04/2019
Carlos Ghosn, Ex-Chairman of the Board of Directors of Nissan Motor, was re-arrested on Thursday on charges of financial irregularities during his term as Head of the Japanese automaker, AP reports. Tokyo's prosecutors said that Ghosn’s arrest was caused by suspicion that he had appropriated $ 5 million from funds that were transferred from a Nissan subsidiary to a foreign distributor. The...
Saudi Aramco’s profit is more than that of Apple and Exxon combined - 04/03/2019
Aramco revealed its account ledgers and surprised economists. In 2018, profit of the “pearl of the Arabian crown” amounted to $ 111 billion, which is more than profit of Apple and Exxon Mobil together. Aramco's earnings were disclosed in the course of preparation for purchase of a 70 percent stake in Saudi oil refining company Saudi Basic Industries Corp. (Sabic) for $ 69.1 billion. Riyadh plans...
Tokyo Stock Exchange Operator acquires Tokyo Commodity Exchange - 03/29/2019
Japan Exchange Group (JPX), the operator of the Tokyo Stock Exchange, intends to acquire the Tokyo Commodity Exchange (TOCOM) to attract more international traders and investors, writes Reuters. It is expected that the transfer of most products from TOCOM to JPX platforms and consolidation of clearing operations will be completed after March 2020, according to a JPX statement. The amount and...
Pinterest IPO: Why unprofitable company wants to go public? - 03/28/2019
Pinterest, the “visual” social network, is going to place shares on a stock exchange following the example of other technological services. Why would an unprofitable platform go public? Former employees of Google and Facebook Ben Silbermann and Evan Sharp came up with the service for picking pictures Pinterest in 2010. In contrast to competitors from Facebook and Twitter, which focused primarily...
UN reporters blame Blackstone for fueling housing crisis - 03/27/2019
The American group of direct investment and asset management The Blackstone Group LLP has contributed to the growing crisis in the housing market worldwide, has exploited tenants and destroyed local communities, according to UN reporters Leilani Farha and Surya Deva. Blackstone manages rental housing worldwide, most often through subsidiaries or foundations, and is considered one of the largest...
How women's clothing helped Levi’s with IPO - 03/26/2019
Many companies in the highly competitive clothing market stay away from IPOs. But Levi Strauss triumphantly returned to the stock exchange thanks to its line of women's clothing. Last week, Levi Strauss, one of the oldest American companies that invented blue jeans, was again listed on the stock exchange. During the first hours of trading, the value of its shares rose by more than 30%. Founded...
Nike gets €12.5 mln fine in Europe - 03/25/2019
The European Commission fined the American company Nike 12.5 million euros (about $ 14 million) for a ban and restrictions on cross-border sale of licensed sports products in the Eurozone countries, reports Reuters. "The European Commission fined Nike 12.5 million euros for the ban on selling licensed goods to other countries within the EEA. This restriction concerned sale of attributes of some...
Steve Forbes, Chairman of Forbes Media "The move to destroy cash feeds into the economic commissars' fantasy that they can better control the economy." - 03/25/2019
In the face of mounting support for the war on cash, Steve Forbes takes a stand to shed light on what he considers very shady business. With precise analysis, he details how the announced goals of currency restrictions are highly unlikely to be met and represent a deceptive maneuver from governments. The debate on the “end of cash”, which was considered ludicrous not so long ago, has been gaining...
