Companies & CEOs
Borrell names deadline for agreement on Iran's nuclear program - 03/28/2022
Reaching a new agreement on Iran's nuclear program is "a matter of days," said European Union High Representative for Foreign Affairs and Security Policy Josep Borrell. "We are very close, but there are unresolved issues. I don't know when or how, but it's a matter of days," Borrell said at the Doha Forum international conference in Qatar. Earlier, Enrique Mora, a senior European foreign policy...
Indian state company purchases three million barrels of Russian oil - 03/24/2022
India's state-owned Indian Oil Corporation (IOC) on Wednesday bought 3 million barrels of Russian Urals crude and 2 million barrels of West African crude in a tender with delivery in May. This was reported by Deccan Herald citing sources. According to the newspaper, the Urals oil was purchased from the Vitol trader at a discount. This is the second recent purchase of Urals oil by Indian Oil...
Airbus says it continues to buy titanium directly from Russia - 03/08/2022
Airbus, the aircraft manufacturer, said it is sourcing titanium directly from Russia as well as other countries, Reuters reported. "This is done in accordance with all applicable sanctions and current export control regulations," Airbus told the agency. Earlier, the Wall Street Journal reported that Boeing said it was suspending titanium purchases from Russia. It was reported last week that...
Moody's upgrades Sony's rating - 03/04/2022
International rating agency Moody's has upgraded the issuer rating of Japanese electronics manufacturer Sony to 'A3' from 'Baa1' with a stable outlook, the agency said in a statement. "The upgrade reflects Sony's success in transforming its portfolio with businesses that have established regular, expected earnings," Moody's vice president Roman Schorr said in the release. The upgrade also...
FT: Credit Suisse attempts to stop leaks about loans to super-rich - 03/03/2022
Credit Suisse has asked investors to destroy documents relating to the yachts and private jets of its wealthy clients, says the FT. Credit Suisse has asked hedge funds and other investors to destroy documents relating to the yachts and private jets of its wealthiest clients to stop leaks about a division of the bank that lent to people who were then sanctioned. The Financial Times reported this,...
US Target's annual revenues exceed $100B - 03/02/2022
Target Corporation, one of the country's top retailers, announced that its revenue for 2021 will hit a new high of $106 billion. According to the firm, the amount has increased by more than 35% in the last two years. Last year's net income was $8.9 billion, up 36% from the previous year. The company attributed its outstanding performance to a rebound in consumer activity following the COVID-19...
BP shares show the lowest fall in three months - 03/01/2022
BP's stock dropped more than 8% in premarket trading, the biggest loss in three months. In pre-market trading on Monday, February 28, shares of oil and gas company BP were down more than 8%. According to Bloomberg, it's the greatest loss in three months. Later, the company’s shares were trading at $28.7, down 6.61 percent from Friday's closing price. According to Bloomberg, BP was unable to...
Rolls-Royce will temporarily stop buying Russian titanium - 02/25/2022
According to Warren East, the business's executive director, the British manufacturer will temporarily stop buying Russian titanium, which is used to make aircraft engines. "Over the last few months, we've been bolstering our supply (of titanium) and accumulating Russian raw materials... We can acquire titanium from other places, and we don't expect to import titanium from Russia for a while",...
Chinese authorities call on state-owned companies and banks to check their ties to Ant Group - 02/23/2022
Alibaba Group shares plunged more than 4% to an all-time low of HK$108.9 February 22, after Bloomberg reported a new round of government pressure on the company. The country’s authorities have instructed the country's largest state-owned firms and banks to re-examine their financial relationships with Ant Group, Alibaba’s related copany, according to the agency. "Numerous authorities, including...
Nestle's net profit grows by 38.2% in 2021 - 02/18/2022
Nestle SA, one of the world's biggest food and beverage makers, saw its net profit rise 38.2 percent to 16.9 billion Swiss francs ($18.3 billion) in 2021, the company said in a report. Diluted earnings per share were 4.42 Swiss francs ($4.77) compared with 4.29 francs ($4.63) a year ago. Revenue rose 8.3 percent to 87.088 billion francs ($94.1 billion). At the same time, the company points out...
