Companies & CEOs
Alibaba shares jump 9% after Jack Ma's appearance in Spain - 10/21/2021
Alibaba shares in Hong Kong jumped 8.8 per cent after the media reported on founder Jack Ma's first overseas trip of the year. According to Hong Kong's East Week, Jack Ma spent a weekend in Spain, where he travelled by his own plane. The publication's sources claimed that in Spain he boarded his own yacht worth about $200 million, where his friends and business partners were invited. However, the...
Bloomberg: Netflix values 'Squid Game' series at nearly $900M - 10/19/2021
Netflix has valued the South Korean series Squid Game at more than $891 million, Bloomberg reported, citing a company document. At least the beginning of Squid Game was watched by more than 130 million subscribers. Streaming service Netflix has valued the South Korean series Squid Game at nearly $900 million, Bloomberg reported, citing a company document. Netflix's projected value of the show...
Virgin Galactic shares plunge nearly 20% after commercial flights are postponed - 10/18/2021
Shares of Virgin Galactic sank 18.1 per cent after the firm said that the first suborbital commercial flight would not take place for another year. Virgin launched the first flight in test mode on 11 July with founder of the company Richard Branson and 5 other people aboard the spacecraft called Unity 22. The flight had an accident: on the second minute, the vehicle flew off its trajectory, due...
IKEA warns of shortages in its shops by mid-2022 - 10/15/2021
IKEA announced shortages in its shops until mid-2022. Crisis in supplies from China is forcing the company to focus on sales of only the most popular items. Swedish home goods maker IKEA has warned of shortages in its shops until mid-2022 due to a crisis in its supply chain. "The biggest problem is shipping products from China, where there have been very limited opportunities," Inter IKEA chief...
Blackrock's January-September net profit jumps by 26% - 10/14/2021
US investment company Blackrock's net profit for the first three quarters rose 26 per cent year-on-year to $4.258 billion, the company said in a statement. Diluted earnings per share attributable to shareholders of the investment company was $27.59, compared with $21.84 a year earlier. Revenue rose 22 per cent to $14.268 billion. Blackrock's third-quarter net profit rose 19% year-on-year to...
Binance cryptocurrency exchange abolishes RMB trading for C2C at China's request - 10/14/2021
Binance, the world's largest cryptocurrency exchange by trading volume, announced on Wednesday that it will stop trading in RMB on its C2C (customer-to-customer) platform from 31 December, according to a statement from the exchange. "In response to regulatory requirements of the local government, Binance C2C will remove the RMB (CNY) trading area on 31 December 2021," Binance said in a statement....
Saudi Aramco considers IPO for its retail unit - 10/08/2021
Saudi oil and gas company Saudi Aramco is considering an initial public offering (IPO) of its oil retail unit, sources told Bloomberg. "Saudi Aramco is considering selling a stake in its fuel and lubricants retail business and may float shares on the Riyadh Stock Exchange," the sources said. Negotiations over the initial public offering are at an early stage and the company may refuse to sell,...
Tesla to pay $137M in racism case - 10/06/2021
A California state trial court has ordered Tesla to pay $137m to its former employee Owen Diaz, who claimed he was subjected to racist and discriminatory treatment at work. Mr. Diaz, who is a former Black contractor, worked at the Tesla plant from June 2015 to May 2016. He said colleagues made racist comments about him almost daily, he found racist graffiti and drawings in the staff toilets, and...
GlobalFoundries sends IPO documents to US watchdog - 10/05/2021
GlobalFoundries, the third-largest microchip maker by volume, has filed documents ahead of its initial public offering (IPO) with the US Securities and Exchange Commission (SEC). The manufacturer is wholly owned by Mubadala, effectively Abu Dhabi's sovereign wealth fund. GlobalFoundries notes in the prospectus that Mubadala will retain significant control of the company after the IPO on the...
IMF board meets with Doing Business auditors - 10/05/2021
Representatives of the law firm conducting the audit into China's possible over-reporting in the World Bank's Doing Business rankings have met with the board of directors of the International Monetary Fund (IMF), said Gerry Rice, a spokesperson for the fund. He said the board was interested in a thorough, objective and timely investigation. Recall that irregularities in the 2018 and 2020 reports...
