Companies & CEOs
Branson's space company shares plunge by almost 13% - 07/13/2021
Virgin Galactic shares plunged almost 13% shortly after trading opened. The day before, the space company successfully sent a full crew into space for the first time and returned to earth. Virgin Galactic then decided to sell $500m worth of shares. Shares in space company Virgin Galactic fell 12.99% after trading opened on the New York Stock Exchange, CNBC data show. The company's securities were...
For Etienne Couëlle, “the public health and economic crises have demonstrated just how resilient Oberthur Fiduciaire is” - 07/09/2021
Having been recently appointed as General Manager of Oberthur Fiduciaire, Etienne Couëlle must deal with a global health crisis that is expected to continue impacting economies around the world. Our discussion with this key player in the global security printing provides insight into a business that is as discreet as it is innovative. What has been the impact of the public health and economic...
US states to sue Google - 07/09/2021
Most US states have decided to sue Google over the company's control of the Android app shop. This was reported by Politico. A total of 36 states - including Utah, North Carolina, Tennessee, New York, Arizona, Colorado, Iowa and Nebraska - as well as Washington, D.C., have joined the proceedings. It is noted that this is the third such lawsuit over alleged antitrust violations by Google....
Cryptocurrency company Circle goes public with $4.5B valuation - 07/09/2021
Cryptocurrency payment service Circle has announced that it will go public via a merger with SPAC company Concord Acquisition. The fintech start-up will be listed on the NYSE with a market value of $4.5 billion when the deal closes. The parties intend to close the deal in the fourth quarter of this year. Circle will be the second major cryptocurrency company to go public in the last couple of...
Porsche and Rimac take over Bugatti - 07/07/2021
Germany's Porsche AG and Croatia's Rimac Automobili have entered into an agreement to form a joint venture that will own luxury sports car manufacturer Bugatti. Volkswagen AG, which has owned Bugatti for the past 20 years, is putting the brand under the control of the joint venture as it intends to focus on electric cars and stop producing cars with internal combustion engines by 2035. As noted...
Andy Jassy becomes new Amazon CEO - 07/06/2021
Founder of online retailer Amazon, Jeff Bezos, has officially stepped down as CEO of the company, as previously planned. The new CEO and president of the company is Andy Jassy, who has been with Amazon since 1997 and was head of Amazon Web Services before this appointment. It was no coincidence that Jeff Bezos decided to step down as CEO on 5 July: this day is the 27th anniversary of the...
Pepsi to cut sugar content in drinks by 25% by 2025 - 07/02/2021
PepsiCo plans to reduce the sugar content of carbonated drinks and iced teas sold in the EU by 25% by 2025, Reuters reports. By 2030, the sugar content should already be down by 50%. The company intends to make healthy snacks its fastest-growing food category over the next four years, PepsiCo's European head Silviu Popovici told the agency. For example, sales of this category are...
Robinhood settles $70M with US authorities for various violations - 07/01/2021
Investment app Robinhood has agreed with the US Financial Industry Regulatory Authority (FINRA) to pay $70m in exchange for a settlement of claims against it. The watchdog announced this on Wednesday. In a statement, FINRA said there had been "systematic failures in terms of oversight and controls and significant damage suffered by millions of customers". Of this $57 million is the fine...
E-cigarette maker Juul to pay $40M in the US over ads appealing to teenagers - 06/29/2021
E-cigarette maker Juul has agreed to pay $40m to the state of North Carolina as part of a settlement. US e-cigarette maker Juul Labs has agreed to pay $40m to the state of North Carolina to settle a lawsuit, Reuters reports. In its lawsuit, the state accused the company of targeting minors by promoting its products. The settlement was announced by North Carolina Attorney General Josh Stein. It...
Deutsche Bank pays over €10M compensation to Spanish wine producer - 06/29/2021
Deutsche Bank has agreed to pay one of the world's largest wine producers, J.Garcia Carrion (JGC), more than €10m in compensation for imposing financial services misunderstood by the winery's employees, The Financial Times reported this, citing its own sources. According to the newspaper, the German bank has agreed to pay compensation to several more of its customers without publicly announcing...
