Companies & CEOs
Swatch Group is leaving Basel Fair - 07/30/2018
Head of the largest Swiss watch-manufacturing group owned by the Hayek family, Swatch Group CEO Nick Hayek said that he intends to withdraw all watch and jewelry brands from the Basel Fair next year. This is a blow to Baselworld, a gift to its competitors and, at the same time, a sign of profound changes in the marketing strategy of luxury groups. Nick Hayek told about his decision journalists of...
China fails to buy a stake in a key German transmission system operator - 07/27/2018
A 20-percent stake in 50 Hertz, which was put up for sale, will be acquired by the German state bank KfW. The government of the Federal Republic of Germany explained its actions by considerations of the security policy. Once again, China failed to acquire a stake in 50Hertz company, one of the key operators of the transmission system in Germany. The state bank KfW on behalf of the government in...
Scandals hit on Facebook market cap - 07/26/2018
Facebook’s shares fell by 24% after publication of regular financial statements. This even indicates that investors are waiting for the company to have uniquely successful results. Facebook’s revenue grew 42% and profit – by 31%, but these results did not suit investors, as they were below expectations of analysts. In addition, they were concerned by forecasts of a slowdown in growth for the...
Alibaba and Tencent subsidiaries get fined in China - 07/25/2018
The largest Chinese payment systems Alipay (belongs to Alibaba Group) and Tenpay (owned by Tencent holding company) are fined $ 90,000 each for violations of the rules for controlling foreign exchange operations, says a statement on the website of the state currency control department of the PRC. It is noted that Alipay was fined for filing a declaration with incorrect data on the balance of...
Alphabet Inc. revenue jumps despite of the EU fine - 07/24/2018
Shares of American Alphabet Inc. rose to a record high in the course of trading after the main session on Monday, as the company's profit for the II quarter exceeded market expectations, despite a record fine imposed on Google by the EU. This is reported by MarketWatch. In the II quarter, the parent company of Google recorded a net profit of $ 3.2 billion, or $ 4.54 per share, compared with $...
Huawei sells record 100 million smartphones in 2018 - 07/20/2018
Huawei is the third largest smartphone manufacturer. By 2021, the company wants to become the market leader, ahead of Apple and Samsung. There are grounds to hope for such a development of events as the company has already managed to sell more than 100 million smartphones since the beginning of the year. Head of Huawei's consumer division announced that the company has already managed to sell...
Volvo profit jumps by 43% - 07/19/2018
Net profit of the Swedish automaker Volvo increased by 43% to 15.18 billion Swedish kronor (about $ 1.711 billion) in the first half of 2018, according to the automaker. Earnings per share rose to 7.31 Swedish kronor ($ 0.8) from 5.11 Swedish kronor ($ 0.6) a year earlier. In annual terms, the company's revenue increased by 16.9% to 192.767 billion kronor ($ 21.734 billion). In the second...
Boeing is optimistic about future demand for aircraft - 07/18/2018
Boeing proved to be more optimistic than Airbus in forecasting the demand for planes until 2037. The American company expects that 42.7 thousand new aircraft worth $ 6.3 trillion will be needed in 20 years. Its European counterpart believes that the world will need 37.3 thousand aircraft worth $ 5.8 trillion. At the same time, the companies are segmenting the market in different ways. Experts...
Rio Tinto increases iron ore exports in Q2 - 07/17/2018
Anglo-Australian mining company Rio Tinto said that its supplies of iron ore from Australia in the II quarter increased by 14%. This is reported by Reuters. The company expects its annual iron ore supply will be at the upper boundary of the target range of 330-340 million tons, due to increased productivity and fewer weather-related failures compared to the same quarter last year. The volume of...
Airbus is preparing a record deal with Asian carriers - 07/16/2018
The European manufacturer is working on a major agreement with two Asian air carriers: AirAsia and StarLux Airlines. The result of negotiations can be transactions totaling $ 29 billion. According to Bloomberg, referring to its own sources, Airbus is working on a "blockbuster" agreement with AirAsia's largest carrier for the sale of aircraft for $ 23 billion. In addition, Airbus is close to an...
