Companies & CEOs
BrandZ: The world’s most valuable brands belong to IT companies - 07/10/2018
The world's largest brands have lately been increasingly complaining that it is very difficult to convince young consumers to remain faithful to one brand. Earlier, buyers preferred to buy familiar and well-established brands. Now, however, young people are increasingly trying something new. Therefore, it is more and more difficult for companies to sell their goods and services. Nevertheless,...
PayPal to spend up to $ 3 billion a year on M&A - 07/09/2018
PayPal Holdings Inc is looking for new acquisition options after the recent takeover of iZettle, which became the largest deal in the history of the American payment company, Reuters reports. "We have a healthy balance sheet and we are ready to work on buying more companies," said PayPal President and CEO Dan Schulman in an interview with the German newspaper Handelsblatt. PayPal is ready to...
The EU to arrange negotiations on Trump tariffs with carmakers - 07/05/2018
The EU authorities are planning to organize international negotiations with the world's largest automakers to develop a compromise plan that would help prevent introduction of strict import duties on cars and auto components in the United States by Donald Tramp. In the US, economists warn that imposing duties can hit the economy of those American states that once voted for Mr. Trump in the...
Equinor to increase gas production at the largest European deposit - 07/04/2018
The Norwegian Equinor (ex-Statoil) and the country’s government agreed on development of new deposits at the Troll gas field, which is now Europe's largest. The $ 1 billion project should support production on the Norwegian shelf and partly solve supply problems in Northwest Europe, which were exacerbated by the closure of the Groningen field in the Netherlands. But Norwegian gas production will...
PwC fined $ 625.5 million in connection with Colonial Bank’s bankruptcy - 07/03/2018
The audit company PwC is obliged to pay compensation in the amount of $ 625.5 million in connection with the bankruptcy of Colonial Bank from Alabama in 2009, according to a ruling of the US District Court. PwC auditors were accused of overlooking the largest US mortgage fraud scheme involving the bank and Taylor, Bean & Whitaker (TBW), one of the leading mortgage underwriters in the US. PwC...
Thyssenkrupp, Tata Steel to merge assets in Europe - 07/02/2018
German Thyssenkrupp and Indian Tata Steel Ltd. reached a final agreement on establishment of a European steel company, in which they will own equal shares, reports Bloomberg. The proposed name of the new company is Thyssenkrupp Tata Steel B.V. It will be focused on the production of high-quality sheet steel, according to a joint statement of the companies. The transaction must be approved by...
Harley-Davidson, the first defector in the Trump trade war - 07/02/2018
It’s been less than 4 days after the introduction of the EU response fees, but the famous motorcycle manufacturer announced transfer of part of its US-based production abroad. The US President is outraged. Harley-Davidson motorcycles are one of the symbols of America. That is why they were included in the list of goods that the European Union imposed on additional duties since Friday, June 22....
BMW is considering leaving the UK because of Brexit - 06/29/2018
The German carmaker BMW needs specific information about the plans of the UK to leave the European Union. "If we do not have clarity in the next few months, then we will have to start preparing Plan B... which means the UK's competitiveness is declining," said Ian Robertson, a BMW board member, in an interview with the BBK media company. According to Robertson, the subject of Brexit is crucial,...
Deutsche Bank fails Fed's stress test - 06/29/2018
The American division of Deutsche Bank AG failed the second part of the annual stress tests of the US Federal Reserve because of the "widespread and critical shortcomings" in controlling capital planning. This is reported by Reuters. The Fed also set conditions for the three banks that passed the audit. Goldman Sachs Group Inc and Morgan Stanley cannot increase capital allocation, and State...
Global M&A deals volume reaches $ 2.5 trillion in 2018 - 06/28/2018
The volume of M&A deals concluded in the world in the first half of 2018 reached $ 2.5 trillion. This is a record high for this period. The data underscore activity of mergers and acquisitions despite geopolitical tensions, writes the Financial Times. The wave of major deals, mainly in the media and telecommunications sectors of the United States, contributed to a 65% increase in global...
