US-based Estée Lauder will spend $1bn to increase its stake in cosmetics brand The Ordinary. The brand, focusing on simplicity and transparency in its products, has set an example for the industry and is popular with 'skintellectuals' - young people who take a scientific and conscious approach to self-care. American cosmetics company Estée Lauder has agreed to pay $1 billion to acquire a majority...

Adam Neumann, the former CEO of the co-working network WeWork, may receive $500m from the company's current owner, SoftBank. The parties want to settle and avoid a lawsuit over the company's shares. SoftBank needs it to take WeWork public, and Neumann needs it to avoid being left with nothing if the court sides with the Japanese company. WeWork co-founder and former CEO Adam Neumann is in talks...

Tesla, which bought $1.5 billion worth of bitcoins a month ago, has already earned more from them than it did from selling electric cars for all of 2020. The carmaker has no plans yet to record profits from the cryptocurrency, whose value is considered exorbitant by the company chief Elon Musk. It notes that Tesla bought 48,000 bitcoins worth $1.5 billion in January, which have now reached a...

Brazilian President Jair Bolsonaro said on his Facebook page that he was appointing former defence minister General Joaquim Silva e Luna as the new head of the state oil company Petroleo Brasileiro (Petrobras). This will be the first military chief at Petrobras since the 1980s, when the country ended a military dictatorship. Current Petrobras chief Roberto Castello Branco took over on 1 January...

Israeli startup Earnix, which helps insurers and banks personalise financial products using artificial intelligence and analytics, has raised $75m in its latest round. Investors valued the company at $1bn, turning it into a "unicorn". Israeli startup Earnix, which helps banks and insurance companies personalize financial products using artificial intelligence and analytics, has raised $75 million...

Whitney Wolfe Herd, the founder of the dating service Bumble, increased her fortune to $1.6 billion after the company's IPO, according to Forbes. Thus, she became the youngest woman whose fortune exceeds $1 billion. She is 31 years old. Whitney Wolfe Herd owns 11.6% of Bumble. The company's stock started trading on the Nasdaq on Thursday. The share price was up 77% to $76 at the open. Ms. Herd...

Moller-Maersk, the largest container shipping operator, presented its financial statements for the year 2020. Earnings before interest and taxes (EBITDA) rose by 44% to $8.3 billion in the period, and revenue was also up slightly, up 2% to $39.7 billion. In the fourth quarter, Maersk's EBITDA rose 88% to $2.7 billion and revenue was up 16.5% to $11.3 billion. As the pandemic began, Maersk, like...

The forced sale of the USA business of TikTok, initiated under Trump, has been suspended indefinitely. The reason was that the new administration decided to reassess potential threats from the company. The deal on the compulsory sale of the American segment of TikTok to Oracle and Walmart has been suspended indefinitely, writes The Wall Street Journal citing sources. According to the...

The Coca-Cola Company, the world's largest soft drink maker, saw its net profit attributable to shareholders fall 13% year-on-year to $7.747 billion in 2019, the company said. Diluted earnings per share were $1.79 compared with $2.07 a year earlier. Coca-Cola's revenues were down 11% year-on-year to $33.014 billion. Coca-Cola posted fourth-quarter net income of $1.456 billion, down 29% from a...