Companies & CEOs
Volkswagen to invest €40M in renewable energy - 04/30/2021
German carmaker Volkswagen has unveiled a plan to reduce its emissions and improve the overall sustainability of its business. The company has promised that by 2050 it will become fully carbon-neutral, i.e. reduce its overall greenhouse gas emissions to zero. By 2030, at least 70% of Volkswagen cars in Europe and 50% in China and the US will be electric. This should reduce emissions in Europe by...
Huawei sales fall for second consecutive quarter - 04/29/2021
Huawei's sales in the first quarter of this year fell 16.5 percent from the same period in 2020 to 152.2 billion yuan ($23.5 billion). When publishing its financial statements, Huawei's management warned that the entire year of 2021 will be difficult for the company. It did, however, report that profitability rose 3.8 percent to 11.1 percent in the last quarter. The company did not disclose the...
Google's parent company shows record revenue during COVID-19 pandemic - 04/28/2021
Google's parent company, Alphabet, reported record sales in the first quarter of 2021. The company's sales rose to $55.31bn and total profits to nearly $18bn, up 162%. Google's parent company Alphabet has reported record sales for the first quarter of 2021. They totaled $55.31 billion, up 34% from a year earlier, when online ad sales fell due to the coronavirus pandemic, The Wall Street Journal...
Lyft to sell its unmanned cars division to Toyota subsidiary for $550M - 04/28/2021
Taxi aggregator Lyft has announced the sale of its unmanned car development division to a Toyota subsidiary for $550m. The service expects to break even after the deal closes, but will continue to work on unmanned driving technology with acquirer Woven Plane. Uber's U.S. competitor Lyft will sell its unmanned car division to Toyota subsidiary Woven Plane for $550 million, the companies have...
Apple sets to invest billions of dollars to support the US economy - 04/27/2021
US Apple plans to invest more than $430 billion in businesses in the US over the next five years and create 20,000 new jobs across the country, the company said in a statement. "Over the past three years, Apple's contribution to the US has significantly exceeded the company's original five-year goal of $350 billion set in 2018. Apple is now raising its commitment level by 20% for the next five...
Founder of Turkish crypto-exchange goes missing with $2B investor money - 04/26/2021
The Turkish general prosecutor's office has launched an international search for the founder of the cryptocurrency exchange Thodex. According to local media reports, he fled the country, taking $2bn of investors' funds with him. Sixty-two people have been detained in the case. Turkey has launched an international search for the CEO of local cryptocurrency exchange Thodex, Faruk Fatih Özer, and...
Volkswagen to cut production in Q2 - 04/26/2021
Car maker Volkswagen will cut production volumes due to a global shortage of microchips, the Financial Times reported, citing the company's spokesman. "Suppliers and Volkswagen Group representatives tell us that we will face more problems in the second quarter than in the first," said the head of Spanish brand Seat, part of the Volkswagen Group. He said the lack of components was the "biggest...
Jaguar Land Rover to suspend production at two UK plants due to chip shortages - 04/23/2021
According to The Guardian, British car maker Jaguar Land Rover will halt production at two of its leading UK plants due to a shortage of microprocessors needed for in-car computers and other systems. The company confirmed to the publication that production would be halted "for a limited period of time" at its plants in Castle Bromwich in the West Midlands and Halewood in Merseyside. The Guardian...
Netflix shares fall nearly 12% after poor reporting - 04/22/2021
Netflix presented its financial report for the first quarter of 2021, showing that the streaming service's number of paid subscribers grew by 3.98 million in three months. This figure was much worse than the projected 6 million new subscribers worldwide. As a result, immediately after the publication of the statements, the company's shares on NASDAQ plummeted by 11.9%, and its market...
Johnson & Johnson increases net profit by 7% in Q1 - 04/21/2021
US-based Johnson & Johnson (J&J), the world's largest manufacturer of health products, posted a 6.9% year-on-year increase in net profit to $6.197 billion for the first quarter of 2021, the company said in a press release. On a per-share basis, diluted earnings were $2.32, compared with $2.17 a year earlier. Adjusted earnings were $2.59, compared with an estimate of $2.33. The company's...
