Companies & CEOs
Starbucks net income grows by 18 percent - 05/03/2023
According to the company, Starbucks' net income for the first half of its fiscal year 2022–2023, which concluded on April 2, increased 18.3 percent year over year to $1.76 billion. Earnings per share increased from $1.28 to $1.53 from the previous year. Revenue for the time period increased by 11.1 percent to $17.433 billion. Net profits for the coffee chain's fiscal second quarter increased...
ADNOC to supply TotalEnergies with LNG for $1B - 05/02/2023
The gas division of ADNOC will be providing TotalEnergies with LNG worth $1 billion through 2025. The gas subsidiary of Abu Dhabi National Oil giant (ADNOC) has inked a three-year agreement with TotalEnergies under which it will provide the French energy giant with LNG worth at least $1 billion. Liquefied natural gas will be exported under a three-year arrangement between ADNOC Gas and French...
Chip maker Arm files for IPO in USA - 05/01/2023
The SoftBank Group of Japan, which owns the British chipmaker Arm, has applied for an initial public offering in the US. According to a statement from British chipmaker Arm Ltd, which is controlled by Japan's SoftBank Group, the company has filed for an initial public offering on a U.S. stock exchange that may end up being the largest IPO of the year. Arm intends to float its shares on the...
TotalEnergies to sell its Canadian subsidiary to Suncor - 04/28/2023
According to a press release from the firm, TotalEnergies, a French oil and gas corporation, will sell its whole ownership in its Canadian subsidiary, TotalEnergies EP Canada, to Suncor for C$5.5 billion ($4.1 billion). "TotalEnergies received several offers following announcement of the divestiture of its Canadian assets, among which was an offer from Suncor Energy Inc. to acquire its entire...
UK blocks Microsoft-Activision Blizzard deal - 04/27/2023
According to a statement posted on the UK government website, the UK Competition and Markets Authority decided to prohibit Microsoft from purchasing Activision Blizzard, one of the most well-known video game producers. The announcement stated that the proposed acquisition of Activision by Microsoft had been rejected by the UK Competition and Markets Authority. The agency's decision was...
Visa's quarterly profit rises thanks to recovery of international tourism market - 04/27/2023
Visa's net income for the first quarter increased by 17% year over year, to $4.3 billion. Earnings per share grew by 20% to $2.03. The growing profit is related to the after-pandemic rebound in the global travel industry. As a result, Visa processed 24% more cross-border payments compared to the first quarter of previous year. Compared to the same period in 2022, the company completed 50.1...
Microsoft's loses seven percent of net income for the first nine months - 04/26/2023
IT behemoth Microsoft Corp. said that its net income for the first nine months of its fiscal 2022–2023 year, which ended on March 31, 2023, decreased 6.6 percent year over year to $52.28 billion. The three quarters' combined revenue rose 6.4% year over year to $155.726 billion. For the period, diluted earnings per share decreased to $6.99 from $7.41 a year earlier. In the third quarter of the...
Capital outflows from Credit Suisse total nearly $69B in Q1 - 04/25/2023
Credit Suisse counted almost $69 billion in capital outflow during the first quarter as the Swiss bank was dealing with a crisis. The bank said that the outflows reduced after the decision to acquire UBS, but have not yet ceased. The bank's financial statement press release states that Credit Suisse recorded a net outflow of 61.2 billion Swiss francs ($68.6 billion) during the first quarter....
Netflix to invest $2.5B in South Korea - 04/25/2023
According to South Korea's Yonhap News Agency, American streaming giant Netflix announced that it would spend $2.5 billion in the Republic of Korea over the next four years to produce South Korean TV series, movies, and shows. The service reportedly revealed its plans following a meeting between Netflix co-CEO Ted Sarandos and President of the Republic of Korea Yoon Suk-yeol after the South...
Credit Suisse seeks $440m from Softbank due to Greensill Capital collapse - 04/21/2023
According to Bloomberg, Credit Suisse has filed a lawsuit against Softbank Group in the High Court, seeking $440 million from the Japanese business. The lawsuit is a component of the Swiss bank's strategy to reimburse investors for the money they lost as a result of Greensill Capital's crash. In March 2021, Greensill Capital, a British fintech business, filed for bankruptcy. The business had been...
