Companies & CEOs
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...
Daimler to spend over $2B to settle diesel scandal - 08/14/2020
The German auto concern Daimler will spend about $ 1.5 billion to settle the "diesel scandal" with the US authorities, and another $ 700 million - to settle a class action lawsuit on this matter, the company said in a release. In June 2019, the Bild tabloid reported that the German Federal Automobile Authority (BKA) ordered Daimler to recall 60,000 Mercedes-Benz GLK 220 CDI vehicles "due to...
Carlsberg's net profit decreases by 7% for the first half of the year - 08/13/2020
Net profit of the Carlsberg group of companies, one of the world's leading beer producers, attributable to shareholders in the first half of 2020 fell by 7.3% in annual terms and reached 2.855 billion Danish kroner (451 million dollars), follows from the company's financial statements. Diluted earnings per share for the six months were 19.3 kronor ($ 3.05) versus a profit of 20.2 kronor ($ 3.19)...
Former Wirecard top manager is put on international wanted list - 08/13/2020
Interpol has put the former operating director of the German company Wirecard Jan Marsalek on the international wanted list. His photograph was published on the organization's website. The media reported that he may be hiding in Russia. The search for Jan Marsalek is also reported by the Federal Office for Criminal Affairs of the Federal Republic of Germany (BKA). He is suspected that, along with...
UK's most expensive fintech startup Revolut triples spending in 2019 - 08/12/2020
The most expensive fintech startup in the UK, Revolut, spent three times more money in 2019 than a year earlier. This is partly due to the active expansion of the staff. At the same time, after the start of the pandemic, according to Wired, the company forced some employees to quit or agree to a pay cut. British fintech startup Revolut spent £107m ($140m) before taxes in 2019, the Financial Times...
Fortune Global 500 now includes more Chinese companies than American - 08/11/2020
China (along with Hong Kong) became the leader in the number of companies included in the latest edition of the Fortune Global 500 ranking, surpassing the United States. Although American Walmart still ranks first in the ranking based on last year's revenue, three Chinese companies follow suit. On Monday, the American magazine Fortune published updated Fortune Global 500, the annual ranking of...
Saudi Aramco's net profit falls by 51% to $23.2B - 08/10/2020
In the first half of the year, the world's largest oil company, Saudi Aramco, cut net profit by 51% to $ 23.2 billion due to low oil prices and demand, the firm said in a statement. In the first half of 2019, this figure was $ 46.9 billion. At the same time, only in the second quarter, net profit fell 4 times, to $6.6 billion. "Our results for the second quarter reflect the strong impact of...
Etihad loses $520M in Q2 2020 due to pandemic - 08/07/2020
The UAE's national carrier, Etihad Airways, which flies from the capital emirate of Abu Dhabi, lost more than half a billion dollars in the second quarter of 2020 due to the coronavirus pandemic, according to the company's financial report for the first half. “Losses for the second quarter of 2020 were $ 520 million, losses for the first half reached $ 758 million, which is $ 172 million more...
Online healthcare firms Teladoc and Livongo sign $18.5B merger - 08/06/2020
The American company Teladoc Health, which specializes in telemedicine and online medical services, bought its competitor Livongo Health. The deal amounted to $ 18.5 billion. The merger reflects the rise in popularity of online healthcare-related services during the COVID-19 pandemic, when many patients around the world were denied access to routine medical care. The shares of both companies have...
