Companies & CEOs
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...
Zara owner's net profit grows in new fiscal year - 06/09/2022
Net profit of the Spanish Inditex Group, one of the world's largest clothing and footwear retailers (brands Pull & Bear, Zara, Bershka, Massimo Dutti, Oysho, Stradivarius), nearly doubled in annual terms to €766 million in the first quarter of fiscal 2022-2023 (ended April 30), according to the company. Sales climbed by 1.4 times to €6.742 billion over the reporting period. Earnings per share...
US retail chain Kohl's is in talks to sell for $8B - 06/08/2022
Kohl's, one of the major department store chains in the United States, has revealed that it is in the process of being sold to a holding company FRG. It offered $60 a share for Kohl's stock, bringing the total deal value to around $8 billion. Kohl's operates or owns over 1100 department stores in 49 states across the US. Annual sales are estimated to be around $18 billion. FRG is a firm based...
Didi shares soar 56% as investigation in China ends - 06/07/2022
Shares of Chinese cab service Didi jumped 56% at the premarket. Earlier, the WSJ reported that Beijing is wrapping up an investigation into the company, and its app could return to stores. Shares of Chinese cab aggregator Didi were up more than 56% at the premarket, trading at a high of $2.89. At Friday's close, the company's NYSE-traded securities were down 3.14% at $1.85. Earlier, sources of...
British Truphone to be sold for £1 - 06/06/2022
According to the Financial Times, the British telecommunications provider Truphone will be sold for £1. The company is owned by Russian oligarch Roman Abramovich and his colleagues. In the event that Truphone "works well" and its value rises, the present owners will be able to recoup up to a third of the initial investment. Abramovich will not get this money if he is subject to sanctions. Hakan...
Subaru to suspend operations at three plants in Japan in June - 06/02/2022
Japanese automobile concern Subaru suspends the work of its three plants in the Japanese prefecture of Gumma, Kyodo News Agency reported. Work will be suspended due to problems with the supply of parts amid a lockdown in Shanghai due to an outbreak of the coronavirus. The plants will not operate on June 2 and 3. The same three plants had already stopped work in April. Suzuki announced a partial...
Twitter to pay $150m fine in user data transfer case - 05/30/2022
To settle a complaint over user privacy infringement, Twitter will pay a $150 million fine to the US Department of Justice and the US Federal Trade Commission. The government claimed that Twitter had illegally passed on users' e-mail addresses and phone numbers to various companies for them to use for targeting advertising. The settlement agreement between the company and the departments was...
Alibaba's net profit falls for the financial year - 05/27/2022
Alibaba's net profit for fiscal year 2021-2022, which ended March 31, fell by 67 percent to $7.427 billion, according to the company’s press statement. For the period, diluted earnings per ordinary share were $0.45, down from $1.02 a year earlier. Meanwhile, Alibaba's revenue was $134.567 billion, up 19% from the previous fiscal year. The corporation lost $2.562 billion in the fourth quarter of...
