The world's largest oil companies are struggling for breakeven. Despite saving billions of dollars and a moderate recovery in oil prices, Exxon Mobil, Royal Dutch Shell, Chevron and BP in 2016 did not earn enough money to cover their costs, the Wall Street Journal estimated. Journalists of the WSJ subtracted amount of dividends and capital expenditures of companies from their operating cash flow...

Tesla company has surpassed analysts' expectations, announcing the release of more than 25,000 cars in the first three months of this year. This is a quarterly record for the manufacturer of electric vehicles, which promises to begin assembling its new affordable sedan Model 3 in July. Elon Musk’s company Tesla produced 25 418 cars in the first quarter of 2017. This is 69% more than in the same...

Head of the Japanese manufacturer and seller of clothes Uniqlo Tadashi Yanai said that his company could probably leave the US market. He explained this decision by a new law, proposed by Donald Trump’s administration, which obliges all companies either to transfer their production to the US, or pay an additional tax. Tadashi Yanai, CEO of Fast Retailing and owner of famous Uniqlo clothing brand,...

Chinese messenger WeChat intends to expand its business in Europe by opening an office in the UK. Currently, the company is negotiating with European brands offering premium products and fashionable clothes, as well as payment organizations. In an interview with Bloomberg, Tencent Europe's director Andrea Ghizzoni said: "We had to take steps towards servicing European brands." The company,...

The US Environmental Protection Agency (EPA) granted Volkswagen with a permission to sell diesel cars of 2015 models after updating the emissions accounting software, said spokesman for VW Group of America Jeannine Ginivan. The EPA required to change not only software, but also the engine itself. According to the company’s representative, components required for this will be available early next...

Another major player entered a list of investors, ready to finance Tesla. Why did the Chinese Internet giant ignore the risks that all analysts are screaming about? And why did the company spend $ 1.8 billion on a stake in the start-up that does not meet expectations? On Tuesday, when it became known that the Chinese Internet giant Tencent Holdings Ltd. bought a five percent stake in Tesla,...

Bankruptcy court in American Sacramento, California, ruled to impose a $ 45 million fine on Bank of America (BofA) for illegally impounding a mortgaged house and threatening family members of the debtors. As follows from decision of Judge Christopher Klein, the bank acted "unceremoniously and heartlessly", that is why the penalty is so great - "you cannot laugh at it at a board meeting and...

Analysts of the Nomura investment bank reckon that Google may lose $ 750 million a year due to boycott that major global companies set up. The digital company will lose a significant portion of advertising revenue thanks to advertisers outraged with the fact that their ads was shown alongside nationalists and extremist videos on Google-owned YouTube platform. According to Nomura, the...

Argentinian Tecpetrol, part of the Techint Group, plans to invest $ 2.3 billion in shale deposits of Vaca Muerta by 2019. Tecpetrol will seek production of 14 million cubic meters of shale gas by 2019, said Sen. Guillermo Pereira at meeting of the company’s representatives and President Mauricio Macri. According to him, this is half of the total volume of gas imported by Argentina. Tecpetrol...