The Strategist
Companies & CEOs

Chinese CNPC stops buying Venezuelan oil - 08/19/2019

The largest customer of the Bolivarian Republic fears US sanctions. China National Petroleum Corp., the largest buyer of Venezuelan oil, suspended August shipments following introduction of recent US sanctions against South American exporters. This was reported by Reuters with reference to two senior sources in Beijing.  Recall that on August 5, Washington tightened sanctions against...

New record: Market cap of world's 100 largest companies exceeds $ 20 trillion - 08/16/2019

The current indicator grew by 5% from April 2018 to March. The total capitalization of the hundred largest world companies for the first time exceeded $ 21 trillion, according to PricewaterhouseCoopers. The market value of hundreds of enterprises under consideration increased by more than 5% compared with the last year. At the same time, experts note that the growth rate in 2018 was higher by...

WeWork reveals financial results in the run-up to IPO - 08/16/2019

WeWork coworking spaces chain, the most expensive US startup, revealed its financial performance in the run-up to the IPO. The company's revenue for the year doubled, and the loss grew by 25%. The American coworking spaces operator We Company (operated under the WeWork brand until January) published a preliminary prospectus. The company has not yet specified how many shares and at what price it...

Huawei suspected of helping African secret services spy on opposition - 08/15/2019

The Chinese concern Huawei is cooperating with the governments of Uganda and Zambia to help them persecute their political opponents, writes The Wall Street Journal. According to the American newspaper The Wall Street Journal, the Chinese company Huawei supported governments of several African countries, in particular, Uganda and Zambia, in surveillance of their political opponents. One of the...

CBS, Viacom announce merger - 08/14/2019

US media companies CBS Corp and Viacom Inc have agreed to merge in the form of exchange of stocks. The deal will create a company with annual revenues of more than $ 28 billion. "The combined company - ViacomCBS Inc. - will become the leading global multi-platform company producing premium content, with assets, capabilities and scale that will enable it to become one of the most important content...

Givenchy, Coach apologize to China for incorrect T-shirts - 08/13/2019

Givenchy French fashion house and American accessories manufacturer Coach, following Versace, apologized to China for t-shirts to designate Hong Kong and Taiwan as territories independent of China, CNBC reports. Coach's ambassador in China, supermodel Liu Wen, said on Aug. 12 on Weibo that she had terminated the contract with the company when she learned that the 2018 collection includes a...

Saudi Aramco reports 12% decline in half-year profit - 08/12/2019

Saudi State Oil Company Saudi Arabian Oil Co. (Saudi Aramco) for the first time presented a semi-annual report, and reported a decrease in net profit in the first half of 2019 by 12%, to $ 46.899 billion, due to lower oil prices. The company decided to disclose a semi-annual result in anticipation of $ 12 billion-worth IPO. Reuters recalls that the company submitted a report for 2018 earlier this...

Austrian AMS offers to buy German Osram for € 3.7 bln - 08/12/2019

Austrian AMS AG made a new offer to purchase the German Osram Licht AG, valuing the lighting equipment manufacturer at € 3.7 billion. The news was announced a few days after the company’s major shareholder rejected the offer from competitors with a lower amount. As part of the offer, Osram shares are valued at €38.5 per share, AMS said in a statement. This price is higher than €35 per share...

Uber loses record $ 5.2 bln in Q2 2019 - 08/09/2019

Uber taxi service suffered record losses in the second quarter of fiscal 2019, as follows from the company's statements. They amounted to $ 5.2 billion against $ 878 million in the same period last year. The service’s revenue increased by 14%, to $ 3.17 billion. According to the financial report, the number of bookings of trips using the service increased by 31% compared to the same period last...

Video game makers stocks collapse after Trump accuses them of violence - 08/06/2019

Stock price of major video game companies fell after U.S. President Donald Trump accused them of promoting violence on Monday, according to the New York Stock Exchange. At the close of trading on Monday shares of Activision Blizzard Inc. lost 5.96% of the value and fell to $46.1 per share, Electronic Arts Inc fell by 4.63% to $88.59 per share, Take-Two Interactive Software Inc. lost 5.19% and its...
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