The Strategist
Companies & CEOs

Debts of global oil leaders rise by $32B - 04/06/2020

The largest oil companies in the world have increased their debts by $ 32 billion in recent weeks, according to the Financial Times (FT). Among them are ExxonMobil, BP, Royal Dutch Shell, Total and Equinor. The publication notes that oil giants are resorting to any measures to cope with the consequences of the COVID-19 pandemic and the collapse of oil prices. They are reducing capital...

Tesla's production and shipments fall in Q1 - 04/03/2020

The American electric vehicle manufacturer Tesla reduced production and supply of cars in the first quarter of 2020 compared to the fourth quarter of 2019, the company said in a release. Over the period, the company produced 102,672 cars, which is 2% less in quarterly terms and 33% more in annual terms. Production of Model S and X for the three reporting months amounted to 15.39 thousand cars,...

Sprint, T-Mobile close merger deal worth $31B - 04/02/2020

US telecom operator T-Mobile US Inc. closed a deal to buy its rival Sprint Corp. after a two-year battle with regulators. The deal, which totaled more than $ 31 billion, based on their T-Mobile US stock price at the close of the market on Tuesday, will put an end to the Sprint brand. Over the past ten years, Sprint has been losing customers, yielding to more successful competitors, including...

US Whiting Petroleum falls victim to Saudi-Russian oil prices war - 04/02/2020

Whiting Petroleum Corp, an American drilling company, said on Wednesday that it intends to file for bankruptcy protection under the bankruptcy law, writes Dow Jones. Whiting Petroleum is one of the largest companies that do hydraulic fracturing needed in shale oil production in the Bakken province. The company is the first victim of the oil crisis. Under article 11 (bankruptcy law), the company...

Pemex: We will keep supplying oil during COVID-19 pandemic - 04/01/2020

Pemex, a Mexican oil corporation, announced continuation of an uninterrupted cycle of work and oil supplies, despite strict quarantine measures in the country in connection with the spread of coronavirus. "The company continues to fulfill its basic functions, following the plan for ensuring continuous operations in order to ensure fuel supplies and not harm the country's development and economy,"...

Ikea starts producing medical masks, says demand for furniture still high - 04/01/2020

Swedish IKEA started producing masks and aprons needed by hospitals in the context of the coronavirus pandemic. Demand for the company's office furniture remains stable thanks to customers forced to switch to work from home. The Swedish company IKEA, in the context of the coronavirus pandemic, began to produce the necessary protective equipment for hospitals, such masks and aprons, according to...

Airbnb to pay $250M to homeowners - 03/31/2020

The online reservation service Airbnb plans to allocate $ 250 million for payments to those homeowners who have lost their reservation due to the coronavirus pandemic, follows from a letter of the company’s head Brian Chesky. Earlier this month, the company said that hosts receiving guests from regions affected by the virus, guests traveling to or from seriously affected regions, as well as any...

Over 97% of Chinese businesses are back to work - 03/30/2020

The resumption of production and the return of people to work in China in recent weeks has been quite active amid successes in combating the coronavirus epidemic. Business entities in China have resumed work by 97.6%, said Wang Bin of the Ministry of Commerce of the PRC on Saturday. "As of March 27, wholesale agricultural markets resumed operations by 99.4%, business entities resumed operations...

Sony transfers 20 thousand employees to work from home - 03/27/2020

Japanese electronics company Sony, due to the spread of a new type of coronavirus, is transferring 20,000 employees to remote jobs, Kyodo said. The regime will be valid until the end of April. It extends to 20 thousand employees across the country engaged in the production of television sets and semiconductors. New employees of the company, who were supposed to start work in the beginning of the...

S&P lowers forecasts on Equinor, Total, Eni, BP - 03/26/2020

S&P Global Ratings (S&P) international rating agency has lowered forecasts for the ratings of Equinor, Total, Eni and BP due to the situation in the energy industry and amid the coronavirus outbreak, the agency announced in its release. The outlook on the long-term Equinor rating at “AA-” was downgraded to negative from stable, Total’s “A +” was revised down to negative from positive. For the...
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