Companies & CEOs
MasterCard to rethink cooperation with adult websites - 12/07/2020
The payment operator MasterCard is reassessing its relationship with MindGeek, which owns the PornHub adult website. MasterCard informed Bloomberg of its decision after "The Children of PornHub" publication by the New York Times columnist Nicholas Kristof. The article tells stories of girls who unsuccessfully try to get intimate videos from PornHub removed. Videos in which the girls appeared were...
ExxonMobil writes off $17-20B in assets - 12/02/2020
ExxonMobil has published its strategic development plan for the coming years. It envisages further cost reduction while gradually increasing investments in new promising projects. In order to achieve this goal, the company intends to abandon those projects which, in its opinion, are not able to bring substantial profits. The list of projects includes development of dry gas fields in the Rocky...
Apple gets €10M fine in Italy for misleading ads - 12/01/2020
The Italian Competition Authority (AGCM) has fined Apple €10 million for "aggressive and misleading" commercial practices when selling various iPhone models, the watchdog said. The first claim against the American manufacturer concerns advertising about waterproof properties of a number of iPhone smartphones, according to which they could withstand "a depth of 1 to 4 meters depending on the...
S&P Global to acquire IHS Markit for $44B - 11/30/2020
The largest providers of business intelligence - S&P Global, an American media holding company, and IHS Markit, an UK agency - may merge in a $44 billion deal. US-based S&P Global may acquire IHS Markit, a UK-based provider of analytical reports and business software, for $44 billion, The Wall Street Journal reports with reference to interlocutors familiar with the deal negotiations. ...
HSBC may refuse to provide retail services in the US - 11/30/2020
HSBC managers are considering discontinuing retail services in the US, the Financial Times reports citing sources at the bank. This decision may be made due to the bank's weak financial performance in North America. The plan for phasing out retail services in the US may be presented to the bank's Management Board in the coming weeks. The management of the bank believes that instead of continuing...
Walt Disney to lay off 32,000 employees in 2021 - 11/27/2020
Walt Disney intends to downsize 32,000 employees during the first half of 2021. This is data from a document filed by the company with the US Securities and Exchange Commission (SEC). As a result, the company is going to lay off more employees than previously planned: in September, Disney was to dismiss 28,000 employees. The COVID-19 pandemic hit Disney pretty hard, and a few weeks ago the...
US publishers Penguin Random House and Simon & Schuster to merge - 11/26/2020
The largest American publishing house Penguin Random House is buying its competitor Simon & Schuster from ViacomCBS media corporation for $2.2 billion. This consolidates the American publishing industry even more: the already largest player on the market is merging with the third largest publishing house in the country. Information that the parties are close to an agreement appeared...
Salesforce, the largest business software developer, sets to buy Slack - 11/26/2020
If negotiations between Salesforce and Slack Technologies are successful, the purchase of a corporate messenger worth approximately $17 billion will become the largest acquisition in the history of the cloud CRM system manufacturer. Salesforce, a business software company, may soon conclude a deal to purchase Slack Technologies, the main product of which is the corporate messenger Slack. ...
Xiaomi reaches record revenue growth in Q3 - 11/25/2020
Chinese technology corporation Xiaomi presented its third quarter financial statements. The company's revenue grew by 34.5% to 72.2 billion yuan ($11 billion). This is the most significant quarterly growth in the company's revenue in the last two years. Xiaomi's adjusted net profit increased by 19% to 4.1 billion yuan ($623 million). Xiaomi's good results were helped, among other things, by the...
German oil giant reports 9 months loss - 11/24/2020
German oil and gas company Wintershall Dea recorded a net loss of €748 million in January-September 2020, the company said. The company compared this figure with its first financial results for May-December 2019 after the merger of the assets of Wintershall and Dea into a single structure; during this period it recorded a net profit of €315 million. At the same time, the adjusted net profit of...
