Companies & CEOs
Eurofighter accused in price manipulation - 02/16/2017
Austrian authorities have filed a lawsuit against corporation Airbus and its subsidiary Eurofighter, accusing them of manipulating prices on fighters. Ministry of Defense of Austria ordered Eurofighter aircraft back in 2002. According to the ministry’s representatives, Airbus misled them about price for fighters, their equipment and supply conditions. The Ministry of Defence’s related damage has...
Activision cuts staff - 02/14/2017
Activision Publishing, belongs to Activision Blizzard, dismissed a number of its employees. The layoffs were held in studios Infinity Ward, Beenox, and others, which names were not disclosed. This event may seem strange, given Activision Blizzard’s recent very positive report, which stated that the company set another all-time record for profits in the previous 12 months. The report said that...
PSA Group is in talks to buy Vauxhall and Opel - 02/14/2017
PSA Group, manufacturer of Peugeot and Citroen cars, is discussing purchase of General Motors’s European business, including Vauxhall and Opel brands, Bloomberg reported citing its sources. If this deal goes through, it will transform the entire European market. PSA will jump ahead of Renault SA and become the second carmaker after Volkswagen AG with 16% of the market. After the announcement,...
Ivanka Trump's brand is losing ground among buyers - 02/13/2017
According to the financial statements of luxury stores chain Nordstrom, sales of Ivanka Trump’s fashion line of shoes and clothing fell by 32% in the past year. On the eve of elections in the US, total fall has reached 70%. Nordstrom decided to suspend sales of the brand. The retailer explains this step by mere lack of benefits, not politics. Few other retailers have already followed Nordstrom’s...
Reckitt Benckiser to buy baby food maker Mead Johnson for $ 16.6 billion - 02/10/2017
British company Reckitt Benckiser, which produces a range of consumer products including Durex condoms, air fresheners AirWick and cough lozenges Strepsils, announced acquisition of American baby food manufacturer Mead Johnson Nutrition Co. As stated in Reckitt Benckiser’s press release, the British group will pay $ 90 per Mead Johnson’s share, or $ 16.6 billion for the entire company. Taking...
Twitter devalued by 10% - 02/10/2017
Twitter’s shares lost in value 10% after the company published its financial report for the fourth quarter of 2016. The microblogging service recorded not only the lowest level of income in its history, but also a 4% drop in the number of users. Earlier, Twitter Inc. published a report on results of its financial and economic activity in the final quarter of last year. During the reporting...
What's the problem with GM in Europe? - 02/08/2017
This week, General Motors has published its annual financial report. In 2016, net profit of the largest US automaker fell to 2.7%, up to $ 9.4 billion. Why did the company meet with a loss? Sales of pickups and sport cars generate the main income of General Motors in the US. The European business, however, deteriorated again after a recent improvement. This means that the company's presence on...
L`Oreal may sell The Body Shop - 02/08/2017
According to Financial Times’ sources, French L`Oreal Group is considering selling natural cosmetics retail chain The Body Shop. The retailer, operates in 66 countries, has shown a negative trend of financial indicators, and can be sold for € 1 billion. The world’s leader of perfumery and cosmetics market L`Oreal is pondering a possibility to sell retail chain The Body Shop, acquired by the...
Four hot banking news of this week - 02/07/2017
The week has just begun, and the banking industry has already brought some interesting news. Let's see what happened to the world’s top banks during the last few days. Wells Fargo lost the title of the most expensive banking brand Industrial and Commercial Bank of China (ICBC) surpassed the US Wells Fargo and became the most expensive banking brand in the world, according to Brand Finance...
BNP Paribas to invest € 3 billion in digital technology - 02/07/2017
CEO of BNP Paribas Jean-Laurent Bonnafé told in an interview with the Financial Times that the French bank intends to "transform its business" in the next three years. The largest in terms of assets bank is going to add 50% of investment in digital projects. According to Mr. Bonnafé, BNP Paribas will be investing € 3 billion in digital technology during this period. "A growing of our customers...
