Companies & CEOs
Online broker Robinhood earns record $331m from client trading activity - 05/04/2021
Online broker Robinhood has collected a record $331M in the form of fees from market makers for the flow of orders on equity trades in Q1 2021. This was reported by CNBC, citing data from the US SEC. Of those funds, $133M were received from market makers for stock trading orders; $198M - for options trading orders. This is 3.6 times what the company-owner of the popular online securities trading...
Buffett's holding increases its cash reserves to near-record amount - 05/03/2021
Buffett's holding company's cash stocks have exceeded $145bn, approaching a record. The investor billionaire has become more cautious about spending: Berkshire Hathaway's spending on buying back its own shares has fallen by more than a quarter. Berkshire Hathaway holding company, led by billionaire Warren Buffett, increased its cash reserves by more than 5 percent to $145.4 billion at the end of...
European Commission accuses Apple of breaching antitrust laws - 05/03/2021
The European Commission found that Apple has abused its dominant position in distributing music streaming apps through the App Store. The agency believes that the company was imposing rules on its app shop to the detriment of competitors. Two years ago, Swedish music streaming service Spotify complained about unequal terms with Apple Music in the App Store. The gist of the complaint was that...
Verizon considers selling media assets, including Yahoo and AOL - 04/30/2021
US telecommunications company Verizon Communications is considering the sale of media assets, including parts of Yahoo and AOL. The Wall Street Journal reported, citing sources, that the volume of transactions may amount to between $4bn and $5bn. Thus, Verizon Communications, the largest U.S. mobile operator, may leave the media market, entry to which has been too expensive for it. Verizon...
Volkswagen to invest €40M in renewable energy - 04/30/2021
German carmaker Volkswagen has unveiled a plan to reduce its emissions and improve the overall sustainability of its business. The company has promised that by 2050 it will become fully carbon-neutral, i.e. reduce its overall greenhouse gas emissions to zero. By 2030, at least 70% of Volkswagen cars in Europe and 50% in China and the US will be electric. This should reduce emissions in Europe by...
Huawei sales fall for second consecutive quarter - 04/29/2021
Huawei's sales in the first quarter of this year fell 16.5 percent from the same period in 2020 to 152.2 billion yuan ($23.5 billion). When publishing its financial statements, Huawei's management warned that the entire year of 2021 will be difficult for the company. It did, however, report that profitability rose 3.8 percent to 11.1 percent in the last quarter. The company did not disclose the...
Google's parent company shows record revenue during COVID-19 pandemic - 04/28/2021
Google's parent company, Alphabet, reported record sales in the first quarter of 2021. The company's sales rose to $55.31bn and total profits to nearly $18bn, up 162%. Google's parent company Alphabet has reported record sales for the first quarter of 2021. They totaled $55.31 billion, up 34% from a year earlier, when online ad sales fell due to the coronavirus pandemic, The Wall Street Journal...
Lyft to sell its unmanned cars division to Toyota subsidiary for $550M - 04/28/2021
Taxi aggregator Lyft has announced the sale of its unmanned car development division to a Toyota subsidiary for $550m. The service expects to break even after the deal closes, but will continue to work on unmanned driving technology with acquirer Woven Plane. Uber's U.S. competitor Lyft will sell its unmanned car division to Toyota subsidiary Woven Plane for $550 million, the companies have...
Apple sets to invest billions of dollars to support the US economy - 04/27/2021
US Apple plans to invest more than $430 billion in businesses in the US over the next five years and create 20,000 new jobs across the country, the company said in a statement. "Over the past three years, Apple's contribution to the US has significantly exceeded the company's original five-year goal of $350 billion set in 2018. Apple is now raising its commitment level by 20% for the next five...
Founder of Turkish crypto-exchange goes missing with $2B investor money - 04/26/2021
The Turkish general prosecutor's office has launched an international search for the founder of the cryptocurrency exchange Thodex. According to local media reports, he fled the country, taking $2bn of investors' funds with him. Sixty-two people have been detained in the case. Turkey has launched an international search for the CEO of local cryptocurrency exchange Thodex, Faruk Fatih Özer, and...
