The Strategist
Companies & CEOs

Adidas to sell Reebok - 10/23/2020

Adidas is considering selling the Reebok brand due to its unsatisfactory financial results. This is reported by Bloomberg with reference to a source in the company. According to the agency, the discussion of the future of Reebok has just begun, and the final decision on the fate of the brand will be made in a few months. Adidas itself did not comment on this information. Reebok was bought by...

Demand for food and health products boost Nestle's sales in 2020 - 10/22/2020

On Wednesday 21 October, Swiss corporation Nestle presented its financial statements for the first nine months of 2020. Organic revenue growth was 3.5%. This is better than analysts' expectations (2.8%). Sales of the company as a whole during this period fell by 9.4%, to 61.9 billion francs ($68.2 billion), primarily due to currency fluctuations, as well as the last year’s sale of the American...

Instagram, YouTube, Zoom first included in top 100 most expensive brands - 10/22/2020

There are only three newcomers to Interbrand's top 100 most expensive brands this year, and all three are online platforms that helped people cope with the consequences of quarantine restrictions. However, not all social networks have managed to increase the value of their brand: Facebook, for example, is still experiencing a crisis of confidence among both authorities and users, which resulted...

Former Chinese unicorn startup may be sold for $1,300 - 10/22/2020

The Chinese service of selling used cars Renrenche, which was valued at $1.4 billion two years ago, may now be sold for only $1290. The startup, whose investors include Goldman Sachs, Tencent and Didi, suffered from the pandemic and failed to cope with the competition. Renrenche was founded in 2014. The platform made it possible to sell cars with mileage and took a fee less than that of offline...

Goldman Sachs pleads guilty to corruption scandal, commits to pay $2.8B fine - 10/21/2020

The US investment bank Goldman Sachs will pay the US authorities a fine of $2,8 billion. In exchange for an end to further investigations for corruption in Malaysia's 1MDB public investment fund, its Asian branch will plead guilty. This was reported by The Wall Street Journal and Bloomberg, citing sources. The arrangement with the U.S. law enforcement agencies will be reached in the form of...

ConocoPhillips buys Concho shale company for $ 9.7B - 10/20/2020

US oil company ConocoPhillips announced acquisition of Concho Resources, a shale oil producer. The sum of the deal will amount to $ 9.7 bln, which will be paid in shares. Shareholders of Concho will receive 1.46 shares of ConocoPhillips for each of paper. A premium in relation to the value of Concho’s shares at Friday trading will be just 1.5%. However, according to the companies’ statement, the...

Chinese watchdog approves dual mega-listing of Ant Group - 10/19/2020

The China Securities Regulatory Commission has approved plans for a dual listing of the financial and technology company Ant Group. The listing could become the largest in the world, says South China Morning Post on Monday. The company, which owns the payment platform Alipay, can attract up to $ 35 billion through the placement of shares on the stock exchanges in Hong Kong and Shanghai....

Morgan Stanley reporting for Q3 exceeds analysts' forecasts - 10/16/2020

Morgan Stanley achieved a 25% increase in net profit in the third quarter, according to the bank's financial report. The profit amounted to $ 2.7 billion, or $ 1.66 per share, which is significantly better than analysts' forecasts, who had expected to see this figure at $ 1.28 per share. The revenue of the American bank also grew up to $ 11.7 billion for the quarter, while analysts forecasted...

L'Oreal appoints new CEO - 10/15/2020

The French cosmetics company L'Oreal has adopted a decision to replace the CEO, giving the position to Nicolas Hieronimus. This is stated in the press release of the company, published on its website. As it is noted, Hieronimus will take office on May 1, 2021 on the basis of the decision of the Board of Directors of the company. At this position he will replace the current head of L'Oreal...

JP Morgan, Citigroup beat analysts' expectations in Q3 - 10/14/2020

Leading US banks JP Morgan and Citigroup reported their third quarter results. They were among the first large American companies to report for this period. The results of both banks were better than analysts' forecasts: JP Morgan reported that its net income rose 4% compared to the third quarter of last year to $ 9.4 billion, or $ 2.92 per share, while analysts at FactSet expected $ 2.23 profit...
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