Companies & CEOs
Chinese automaker buys 30% of Saxo Bank - 05/08/2017
Zhejiang Geely, a Chinese automaker owning Swedish Volvo, is buying about 30% of Danish Saxo Bank, the Financial Times reported. The deal will be carried out with participation of the co-founder and former CEO of Saxo Bank, Lars Seier Christensen, who is selling his share of 25.7%, as well as with some other smaller investors. As a result of the transaction, Geely will become the bank’s largest...
Samsung to overtake Intel - 05/03/2017
South Korean technology giant Samsung is coming close to the world’s leading manufacturer of microprocessors, which currently belongs to American corporation Intel. This would be a hefty victory for the Koreans, as Intel has been in the lead for the past 24 years. Experts from IC Insights research company predict that such a rearrangement may occur already in the current year. Samsung is taking...
Earnings of oil majors prove the energy sector is bouncing back - 05/03/2017
Profit of the British company BP grew almost threefold in the first quarter, amounting to $ 1.5 billion. Thus, BP became the next energy company after Exxon Mobil, Chevron and Total, which showed good financial results in the first quarter. According to experts, this indicates restoration of the energy sector in connection with rising oil prices. On Tuesday, British oil and gas company BP...
Hyundai Motor’s profit falls thanks to the US and China - 04/27/2017
The South Korean authorities’ decision to host the US missile defense system THAAD has negatively affected the country’s largest carmaker Hyundai Motor. The company's sales fell immediately by 14% in China, which extremely negative reacted on such military cooperation between the US and South Korea. On Wednesday, Hyundai Motor reported receiving a net profit of $ 1.2 billion. This result turned...
Alitalia’s headlong plunge - 04/27/2017
Italian airline Alitalia is in the red, and it looks like the carrier does not have a chance to be rehabilitated. The company’s employees refused to support a rescue plan coordinated by the leadership and the trade unions. Now the national Italian air carrier can be sold in parts if the management fails to find a single buyer is not found for all the company's assets. Alitalia acknowledged that...
Toshiba to split the business - 04/24/2017
Today, Toshiba Corporation confirmed previously announced reorganization plans to transform the company’s four business lines into separate companies. This decision, as Toshiba's management hopes, will help keep the business seriously affected by the problems of its US subsidiary Westinghouse Electric. Toshiba spoke about a possible division of business in March, and today the company’s...
British government transfers Green Investment Bank into private hands - 04/21/2017
A group of investors from Australian bank Macquarie Group and the Universities Superannuation Scheme Foundation paid the British government 2.3 billion pounds ($ 3 billion) for Green Investment Bank, said Macquarie in a report. The deal ended after a difficult reconciliation process. A number of members of the British Parliament opposed the privatization of the bank, which manages assets of more...
Axel Springer invests in Uber - 04/20/2017
German company Axel Springer, publishes newspapers Die Welt and Bild, acquired a stake in Uber Technologies. It is not reported how much the publisher has invested, but, according to the statements of Axel Springer, the share is minimal. This is not the group's first investment in technology companies: the company already bought a stake in Airbnb in 2012. German media concern Axel Springer, which...
Warren Buffett to sell American real estate to Chinese wealthies - 04/19/2017
Legendary investor Warren Buffett is going to sell houses to Chinese upper-class. His HomeServices, which deals with real estate brokerage, "expands its global reach by attracting wealthy Chinese citizens to buying homes in the US". April 17, HomeServices announced conclusion of an advertising agreement with website Juwai.com, the monthly audience of about 2 million unique users. Thus,...
Theranos agrees to take a break - 04/19/2017
American biotech company Theranos agreed not to carry out laboratory blood tests for two years in exchange for a smaller fine from the healthcare sector regulation authorities, Reuters reports. Under the agreement’s terms, Theranos blood testing labs will be shut down for 2 years, and the fine imposed on the company by the Medicare and Medicaid Service Centers (CMS) will be reduced to $ 30,000....
