Douglas, one of Europe's largest cosmetics and perfumery chains headquartered in Germany, announced Thursday that it is closing 500 outlets. It’s just under 20% of Douglas' entire branch network, which includes some 2,400 shops in 26 countries across Europe. The company announced this on Thursday when it published its financial statements for the 2019/2020 financial year, which ended at the end...

Microsoft's revenues reached $43.1 billion in the latest quarter, up 17% from the same period last fiscal year. Net income was up 33% ($15.5bn) and operating income – up 29% ($17.9bn). "Growing demand for our wide range of products drove cloud revenue up 34 percent year over year to $16.7 billion," Chief Financial Officer Amy Hood said in a press release. Satya Nadella, chief executive...

Shares in plant-based meat producer Beyond Meat were up more than 36% at the opening of trading, triggered by the news that the company has agreed a deal with PepsiCo to develop new snacks and drinks based on plant-based protein. Shares in plant-based meat producer Beyond Meat jumped more than 36% after the opening of trading on January 26. By mid-afternoon, the securities were worth about $216,...

Net profit at Johnson & Johnson (J&J), the world's largest manufacturer of health products, fell by 2.7% year-on-year to $14.714 billion in 2020, the company said in a press release. On a per-share basis, diluted earnings were $5.51 compared to $5.63 in 2019. The company's revenue for the period rose by 0.6 per cent to $82.584 billion. J&J reported fourth-quarter net profit of $1.738...

A court in South Korea has sentenced the head and heir to the Samsung Group business, Lee Jae-yong, to 2.5 years in prison, Reuters reports. He was found guilty of bribery and embezzlement of about 8.7 billion won ($7.8 million) in connection with the scandal that toppled the country's first female president, Park Geun-hye. Mr. Lee was charged with bribery as part of a corruption investigation...

Delta Airlines published its financial report for the year 2020, according to which the airline's net loss was $12.4 billion, the worst figure in the history of the company. Despite an increase in traffic in the fourth quarter due to the Christmas holiday, the company's operating revenue fell $7.47 billion (65%) from a year ago. Annual revenue in 2020 was $29.9 billion (64%) lower than in 2019....

Visa and fintech startup Plaid have issued a joint statement saying that the companies refuse to merge. The decision was prompted by complaints from the US Department of Justice, which believed the deal would harm free competition in the market. Visa announced the purchase of Plaid in January 2020. The deal was valued at $5.3bn. The startup produces software that allows users to "securely link...

Bakkt Holdings LLC, the digital asset storage and trading platform launched in 2018 by Intercontinental Exchange (ICE), will become a public company. According to a press release from Bakkt, it will do so by merging with VPC Impact Acquisition Holdings, a special purpose acquisition company (SPAC) that is already listed on NASDAQ.  The new company will be named Bakkt Holdings Inc., will be...

Ford Motor Company has announced that Ford Brazil will cease production operations in 2021. "Ford Brazil will cease production at the Camaçari, Taubaté and Troller plants in 2021 as the COVID-19 pandemic will exacerbate ongoing industry downtime and low sales that have resulted in years of significant losses," the company said in a press release. The company will continue to serve the Brazilian...