Companies & CEOs
Italy's Intesa cuts its share buyback program for 2022 - 06/27/2022
The share repurchase plan for 2022 at Italy's Intesa Bank has been cut in half. The biggest bank in Italy, Intesa Sanpaolo, reduced its share repurchase program by half this year, to €1.7 billion. It also intends to decide on the second half of the shares early in the next year. Intesa announced in February of this year a €3.4 billion scheme to buy its own securities. By 2025, the bank wants to...
De Beers boosts diamonds sales - 06/23/2022
According to preliminary corporate data, the global diamond giant De Beers boosted its diamond sales for the fifth business cycle of this year (June 6 to 21) by 7.6 percent in comparison to the prior cycle to $650 million. From May 2 to May 17, the preceding fourth business cycle took place. The quantity of sales during that time was $604 million. Diamond sales at De Beers increased 36.3...
US Kellogg's to divide business - 06/22/2022
Following the announcement that US Kellogg will be divided into three firms, the company’s shares went up by 6.5%. Shares of US Kellogg, which makes Pringles and Krave breakfast cereals, increased 6.5 percent before the market opened on the company's announcement that it will split into three separate public businesses, according to CNBC. The US business previously declared its intention to...
Ecuador oil corporation declares force majeure due to protests in the country - 06/20/2022
Ecuador's state-owned oil business, Petroecuador, has halted operations owing to a declaration of force majeure in the aftermath of the country's recent demonstrations. Confederation of Indigenous Peoples of Ecuador (Conaie) protests against the country's social and economic policies began on June 13 with small demonstrations in 11 regions and grew in intensity the next day when police detained...
Revlon files for bankruptcy - 06/17/2022
Revlon, a cosmetics company, has filed for bankruptcy. Following the outbreak of the pandemic, the firm, which was formed 90 years ago, has seen a drop in sales. Revlon, the American cosmetics company founded in 1932, has filed for bankruptcy. The corporation owed more than $3.3 billion as of March 31. "We want to streamline our capital structure and considerably decrease our debt," Revlon CEO...
BTS band’s agency loses $1.7bn after boy band split - 06/17/2022
Following the revelation that members of the boy band have opted to temporarily cease performing as part of the group in order to focus on separate careers, shares in South Korean music agency Hybe have dropped, according to Bloomberg. Losses from the dip in Hybe's stock on news of the band's impending split are projected to be $1.7 billion, according to Bloomberg. The stock price of the music...
Analysts warn of risk of Apple's market value falling below $2T - 06/16/2022
Apple's market value may not stay over $2 trillion, owing to investor worries that the Federal Reserve's increased interest rates will force the country's economy into recession, said Bloomberg citing analysts. The market capitalization of the iPhone manufacturer temporarily crossed $3 trillion in January, was $2.15 trillion at the close of trade on Tuesday, June 14, and was $2.19 trillion on...
Papers of Squid Game-related company jump after second season is announced - 06/14/2022
Bucket Studio's stock increased by over 30% after Netflix announced the second season of its "Squid Game" series. Bucket Studio securities were selling at 3,450 Korean won at market close on Monday, 29.94 percent higher than the previous closing price. With the KOSPI 100 index down 3.4 percent on Monday, the price soared as the market sank. Bucket Studio owns a share in Artist Company, a talent...
Bayer AG wins another lawsuit over Roundup herbicide - 06/13/2022
Bayer AG, a chemical firm, has won a lawsuit in Missouri, where a court dismissed a local resident's claim that the company's Roundup herbicide caused cancer in him. This is the third time in a row that a lawsuit filed by persons accusing Bayer AG and its subsidiary Monsanto of developing a cancer-causing weed killer has been successful in the United States. Lawsuits relating to the Roundup...
Trafigura ends half-year with record profits - 06/13/2022
Due to volatility in the commodity market caused by the events in Ukraine, the exchange company Trafigura was able to accomplish record oil and metal sales and conclude the first half of fiscal year 2022 (March 31) with a record profit. The corporation recorded $170.6 billion in six-month revenue, up 73 percent from 2021 and more than double the figure for the first half of 2020. The company's...
