The Strategist
Companies & CEOs

JPMorgan fined $350mln for violations in monitoring operations - 03/15/2024

JPMorgan Chase & Co. was fined $348.2 million by the Office of the Comptroller of the Currency and the Federal Reserve System for lacking adequate oversight over trading activities. Regulators stated that the fine from the Fed was $98.2 million and $250 million from the OCC. The bank was penalized due to a "non-compliant program to monitor trading activity of firms and customers for unfair...

Apple to expand applied research lab in China - 03/14/2024

Xinhua News Agency writes that Apple Inc. intends to build a new lab in Shenzhen and expand its applied research facility in Shanghai by 2024. According to Isabel Ge Mahe, vice president and managing director of Apple for the region, these labs facilitate materials research and R&D while offering data to engineering and design teams globally. She noted that the corporation established...

Saudi Aramco posts net profit second largest in the company's history - 03/12/2024

The Saudi state-owned oil corporation, Saudi Arabian Oil Co. (Saudi Aramco), reported its second-highest net profit in company history in 2023. Net profit for the corporation last year was $121.3 billion in contrast to a record $161.1 billion the previous year, according to a press release from the company. Reduced sales volumes and oil prices were two of the main causes of the fall. Compared...

European Commission fines Apple more than €1.8 billion - 03/05/2024

According to a press release from the European Commission (EC), Apple Inc. has been fined more than €1.8 billion for abusing its dominant position in the music streaming services market for the iPhone and iPad. The watchdog discovered that Apple has been preventing third-party application developers from notifying customers about less expensive music subscription services available outside of the...

Chevron to set up hydrogen production using solar energy - 03/04/2024

The US-based Chevron’s subsidiary Chevron New Energies revealed plans to build a 5-megawatt hydrogen production facility in the Central Valley of California. "The project seeks to create low-carbon energy by utilizing solar, land, and non-potable produced water from Chevron's current assets in the Lost Hills oil field in Kern County." According to a news statement from the company, "This low...

Tata to build battery plant in UK's Somerset - 02/29/2024

The British county of Somerset will host the Indian corporation Tata Group's 4-billion-pound ($5.06 billion) plant that will make batteries for electric vehicles. The project will be built close to the town of Bridgewater. Although the location of the plant has been revealed just recently, the UK factory's development was disclosed as early as last summer, according to the BBC. The plant will be...

Japanese IT company Rakuten plans to float shares for $666 mln - 02/28/2024

Japanese IT corporation Rakuten Group Inc., a, intends to enhance its financial situation by floating 100 billion yen ($666 million) worth of shares. These will be unique type shares, the company said in a statement. To prevent capital dilution, the holders of these securities will not be granted voting rights and will not be able to convert them into common shares. Rakuten intends to pay these...

Nokia accelerates movement to net zero emissions - 02/27/2024

Finnish telecom equipment manufacturer Nokia Corp. intends to reach net zero greenhouse gas emissions (net zero) by 2040, MarketWatch writes. Earlier, the company expected to reach the goal by 2050. Nokia will also speed up decarbonization of its own operations at the same time. It had previously declared that it would cut emissions from 2019 levels by half by 2030 for both direct (Scope 1)...

Bezos sells 50 million shares of Amazon, makes $8.5B - 02/22/2024

Jeff Bezos sold more Amazon shares for over $2.4 billion. He intended to sell 50 million shares by the end of January 2025, but this goal is fulfilled already now, earning $8.5 billion in total. On February 15 and 16, Amazon founder Jeff Bezos sold an additional $2.37 billion worth of company shares, according to filings submitted to the Securities and Exchange Commission (SEC) of the United...

EC approves merger of Orange's Spanish unit with Masmovil Ibercom - 02/21/2024

Following an agreement between the firms to sell some assets, the European Commission (EC) approved the merger of Masmovil Ibercom SA and Orange SA, the Spanish unit of the French telecom operator. After Orange and Masmovil merge, Spain's biggest telecom company will be valued at €18.6 billion. The businesses decided to sell licenses for €120 million to Digi Communications NV frequency in...
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