Companies & CEOs
Honda and GM decide to create a strategic alliance in North America - 09/04/2020
Japan's Honda Motor and US General Motors on Thursday signed a letter of intent to create an alliance in North America, which could include cooperation on procurement and common transport platforms. Honda officials hope the alliance will generate significant cost savings in North America, The Wall Street Journal reported. In April, the companies announced that they had agreed to jointly develop...
Juul may leave European and Asian markets - 09/04/2020
E-cigarette maker Juul intends to continue to lay off staff and is considering withdrawing from the European and Asian markets, The Wall Street Journal reported. In total, the products of the American company may disappear from store shelves in 11 countries. Faced with criticism from the authorities and falling sales, the company announced in the spring that it was laying off about a third of...
Citigroup becomes first American bank to obtain depository license in China - 09/03/2020
American bank Citigroup received a license to operate as a depository bank in China. Now the bank can deal with the custody of his clients' securities and sell custody services to local investment funds. Citigroup became the first American bank to receive such a license in China, as well as the first among the five largest depository banks in the world. Recently, more and more American...
McDonald's accused in racial discrimination - 09/02/2020
More than 50 Black former franchisees of the fast food chain McDonald's have accused the company of racial discrimination and are demanding compensation in court for a total of about $ 1 billion. The plaintiffs, who filed a complaint against the company in a Chicago court, say McDonald's executives forced their Black partners to open franchised establishments in disadvantaged areas, while...
Berkshire Hathaway pays $ 6.3B for 5% in Japan's largest trading companies - 09/01/2020
On August 31, US billionaire Warren Buffett's Berkshire Hathaway investment fund announced the purchase of five percent stakes in five of Japan's largest trading companies: Itochu, Marubeni, Mitsubishi, Mitsui and Sumitomo. The total amount of the transaction, according to media estimates, based on the price of the companies' shares last Friday, amounted to $ 6.3 billion. Trading companies are...
Coca-Cola will downsize 4,000 employess within operational restructuring - 08/31/2020
Beverage maker Coca-Cola has announced a reorganization of operations that will cut about 4,000 jobs. The cuts will primarily affect the United States, Canada and Puerto Rico. The company's business will be divided into nine new divisions within four geographic segments, compare to 17 current divisions. As a result, the company hopes to streamline operations, eliminate duplication and achieve...
Walmart teams up with Microsoft to buy TikTok - 08/28/2020
Walmart, the largest supermarket chain in the United States, has filed a joint bid with Microsoft to purchase the Chinese app TikTok. The retailer's decision was confirmed by a Walmart representative on CNBC. According to Bloomberg sources, the owner of the application, ByteDance, has so far received two offers to purchase - a joint one from Walmart and Microsoft and one from Oracle. Final...
Lufthansa Group airlines cancel rebooking fees before the end of the year - 08/26/2020
Germany's Lufthansa Group announced that its member airlines Lufthansa, Swiss, Austrian Airlines and Brussels Airlines have canceled rebooking fees by the end of the year. In the spring, these airlines have already introduced a one-time free rebooking option. Now Lufthansa Group customers can change their tickets several times free of charge, including tickets at the lowest price without paid...
Ryanair to cut flights by 20% in September and October due to new outbreaks of COVID-19 - 08/18/2020
The Irish low-cost airline Ryanair announced a 20% decrease in passenger traffic in September and October compared to previously planned. This is due to an increase in the number of COVID-19 infections in some European countries and a decrease in demand for air travel due to this. "Advance bookings have dropped significantly in the past 10 days, given the continuing uncertainty over the frequency...
Facebook criticizes Apple for 'damaging' fees for SMEs - 08/17/2020
Facebook said Apple is hurting small businesses by charging a 30% commission on in-app purchases. The criticism from Zuckerberg's company came after Apple removed the Fortnite game from the app store. Telegram founder Pavel Durov earlier called Apple commissions "digital slavery". Facebook has joined a growing list of companies publicly criticizing Apple for the 30% commission for iOS app...
