Companies & CEOs
Total wealth of four IT giants founders falls by nearly $9B in a week - 12/14/2020
It has been a difficult week for the founders of major IT companies. The threat of proceedings with the US authorities caused their shares to slide after weeks of gains, and the total capital of Amazon and Facebook executives and Google founders fell by almost $10bn. The combined fortune of the four founders of IT companies - Mark Zuckerberg, Jeff Bezos, Larry Page and Sergey Brin - has fallen by...
World's largest oil trader admits giving bribes - 12/10/2020
For years, the world's largest oil trading company, Vitol Inc., has been claiming to be "completely intolerant" of corruption, while at the same time bribing through shell companies, writes Bloomberg. It has become known that the company has agreed to pay more than $160 million to regulators in the United States and Brazil. Vitol said that representatives of the structure have been giving bribes...
Papers of US largest food delivery service jump by 80% during IPO - 12/10/2020
DoorDash, the largest food delivery service in the United States, made a successful debut on the stock exchange. At the start of trading, the company’s papers jumped by almost 80%. The shares of the DoorDash food delivery service have risen by almost 80% since the start of trading on the New York Stock Exchange compared to the IPO price. During the initial public offering, the company sold its...
Tesla market cap soars by $100B in two weeks - 12/09/2020
The capitalization of the American manufacturer of electric cars Tesla has increased by $100 billion in a fortnight and exceeded $600 billion in anticipation of the inclusion of the issuer in the calculation of the U.S. broad market index S&P 500 on 21 December, according to the auction data. On Monday, the company's shares on the NASDAQ exchange rose by 7.13% to $641.76. As a result, the...
Moncler buys Stone Island for €1.15B - 12/08/2020
Italian luxury clothing manufacturer Moncler buys its competitor Stone Island. The deal will total €1.15 billion, Moncler announced. In the first phase, Moncler buys about 70% of Sportswear Company, which owns the Stone Island brand, from its principal owner and CEO, Carlo Rivetti (he owns 50%) and his family members (about 20%). In the future, Moncler hopes to buy the remaining 30% from...
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...
