Chinese oil giants are in talks to create a group that could become the largest oil buyer in the world. At first, they intend to jointly acquire Russian and African oil. Major Chinese oil refineries are in talks to create a group to jointly buy oil, sources familiar with the initiative told Bloomberg. According to them, negotiations are already at an advanced stage, and top managers are...

The US Department of Justice is expected to sue Google in the next few months and accuse the company of monopolizing the advertising technology market, Politico reports citing sources familiar with the situation. According to sources, on Friday representatives of the Justice Ministry and officials involved in antitrust activities held an online meeting to discuss the alleged lawsuit. According to...

Chesapeake Energy, a US-based shale oil producer, filed for bankruptcy, the company’s website reads. The company requested protection under Chapter 11 of the United States Bankruptcy Act, which allows for the reorganization of activities. The company's debt is estimated at approximately $ 7 billion. The company entered into an agreement with lenders, according to which it will be allocated a loan...

Telegram and the U.S. Securities and Exchange Commission (SEC) entered into a settlement agreement under which the court ordered Telegram to return $ 1.22 billion to investors (minus funds that were already returned or were reissued as loans), and pay a fine of $ 18.5 million. This is stated in the documents of the Federal District Court of the Southern District of New York. According to the...

The Spanish corporation Iberdrola, which is one of the world's largest renewable energy operators, halted the project for a combined cycle power plant in the state of Veracruz after failing negotiations with the Federal Electricity Commission of Mexico (CFE). "For more than a year the company was engaged in logistics, buying land and licenses, moving staff, spending $ 40 million, but could not...

On Monday, German prosecutors arrested Markus Braun, the former CEO of Wirecard fintech company. Mr. Braun’s arrest followed a scandal surrounding Wirecard that erupted after the company discovered a shortage of € 1.9 billion in the company's accounts and a possible overstatement of sales by its employees. The scandal surrounding one of the largest German fintech companies Wirecard, which began...

In July, one of the world's largest energy companies, the American Chevron Corp., intends to resume oil exports from its joint ventures with the governments of Saudi Arabia and Kuwait, according to the Wall Street Journal, citing officials in both countries. It is expected that the level of production will increase by about 80 thousand barrels per day in this regard. The newspaper also recalls...

US telecom operator T-Mobile US began to cut jobs faster than planned after closing a merger with rival Sprint Corp. T-Mobile said it plans to spend about $ 300 million more than originally expected on transaction costs, mainly related to the payment of termination benefits. The company did not specify how many people would be downsized. At the end of 2019, the company was employing 53,000...

According to Reuters, the Italian-American automaker Fiat Chrysler has reached an agreement with the government on a loan in the amount of € 6.3 billion. This will be the largest loan issued to any of the automakers in Europe since the beginning of the pandemic and guaranteed by the government. As previously reported, the Italian government was ready to guarantee the carmaker a loan for three...