Companies & CEOs
Samsung will consider plans to split the company - 11/28/2016
On Tuesday, Samsung Electronics will consider a proposal to split the unit into two companies, Reuters reported with reference to the Seoul Economic Daily. In October, American Elliott Management hedge fund offered Samsung’s management to isolate business units involved in asset management and direct production. The fund also proposed to pay about $ 26 billion in the form of a special dividend,...
Thomas Savare, the French draftsman of the world - 11/25/2016
The number of printing factories in charge of secure printing for banknote production in the world is quite small. A handful of highly specialized banknote designers are responsible for keeping the world’s economies fluid, safe from counterfeiting and making the peoples around the globe proud of their country. Among them, the French firm Oberthur Fiduciaire, run by Thomas Savare, which has heaved (and kept) itself on the first tier of the world market. Its angle? Design and intimate knowledge of the world’s cultures.
Rio Tinto cuts investment - 11/25/2016
Rio Tinto has to reduce investments due to unclear market prospects. In 2016, the second major market player will invest less than $ 3.5 billion in various projects. This is 13% less than previous forecast of $ 4 billion. In 2012, Rio Tinto has spent for these purposes more than $ 17 billion, yet since then commodity prices began to fall, mining companies have significantly reduced cost of...
Microsoft buys LinkedIn in exchange for concessions - 11/24/2016
US corporation Microsoft will receive EU’s approval to acquire LinkedIn social network in exchange for some concessions, in particular, for providing competing social networks with access to Outlook platform. If the deal with LinkedIn is approved, Microsoft will allow competitors to use Outlook’s networks and application programming interface (API) to manage mail and scheduling, Reuters reported,...
Ryanair to introduce free flights - 11/23/2016
Many seats on Ryanair’s flights may be free in the next ten years, said Executive Director of the airline. According to Michael O'Leary, the company aims to nullify tariffs. The airline itself will receive revenue from airports to which Ryanair will bring its customers. Speaking at the Airport Operators Association conference in London in London, the airline’s spokesman noted that Ryanair is...
HP's revenue in 2016 fell by 6% - 11/23/2016
Revenue of office equipment manufacturer Hewlett-Packard (HP) fell by 6% to $ 48.2 billion in 2016 fiscal year. Revenue for the IV quarter totaled $ 12.5 billion, which is 2% more than in the same period last year. HP Inc.’s revenues in the 4th fiscal quarter increased by 2%, to $ 12.51 billion from $ 12.27 billion in the same period a year earlier. Experts polled by FactSet on average expected a...
Amazon to broadcast sports events - 11/22/2016
The world's largest Internet retailer Amazon is preparing to launch live broadcasts of sports events, available for Amazon Prime subscribers. The American company is currently in talks to acquire rights to broadcast live from the National Basketball Association, National Football League, Major League Baseball and other sporting organizations. According to The Wall Street Journal, the world's...
Enel will devote profits to minority shareholders - 11/22/2016
Italian Enel is planning to invest additional revenue to increase dividends, repurchase shares from minority shareholders and, possibly, to hold a buyback. New strategy of the company implies that share of dividends in profits will amount to 65-70 % in the next three years. € 2 billion obtained from sale of assets, will be used to buy shares from minority shareholders. Buyback is also considered...
Petrobras strives to recoup losses after bribery scandal - 11/21/2016
Anti-corruption investigation carried by Brazilian authorities helped oil state corporation Petroleo Brasileiro (Petrobras) return $ 60 million. The money was received from politicians, officials and businessmen involved in the corruption scheme. Part of them agreed to cooperate with the investigation. Head of Petrobras Pedro Parente said the company lost about $ 1.8 billion due to then existing...
Novartis to pay up to $ 665 million for US lab Selexys Pharmaceuticals - 11/21/2016
Swiss pharmaceutical giant Novartis announced purchase of American research laboratory Selexys Pharmaceuticals, which deals with diseases of the circulatory system and inflammatory processes. The lab specializes in sickle-cell anemia, a hereditary disease. As reported by AFP, the transaction amount can amount to $ 665 million (€ 627 million). Novartis agreed to buy the lab after examining results...