Companies & CEOs
KLM airline to cut costs and give up part of its investments - 10/04/2024
KLM, the Dutch airline, has stated its plans to reduce expenses, sell off certain investments, and explore the possibility of selling assets in order to make lasting improvements to its operational and financial performance. The company is confident that optimizing the business will lead to a short-term increase in operating profits by €450 million. It anticipates reaching a profit margin...
Microsoft to invest €4.3bn in infrastructure for cloud and AI development in Italy - 10/04/2024
Microsoft Corp. plans to invest €4.3 billion in the next two years to enhance its infrastructure for cloud and AI development in Italy. In a statement, Microsoft announced plans to invest in creating infrastructure for hyper-scale cloud data centers and AI data centers, in addition to providing training for over 1 million digital professionals by the end of the upcoming year. The company stated...
Analysts warn of risks for Walmart and Target due to dockworkers' strike in the US - 10/03/2024
Analysts at Goldman Sachs anticipate that the strike on the Atlantic coast ports in the USA will have a minimal impact on the country's GDP but will negatively affect retailers and manufacturers in industries reliant on sea transportation, such as automobiles, writes MarketWatch. On the first of October, tens of thousands of port workers on the Atlantic coast initiated the first strike in fifty...
Tesla in Q3 increases electric vehicle deliveries by 6.4% YoY - 10/03/2024
In the third quarter, Tesla, an American company, saw a 6.4% rise in deliveries compared to the previous year, reaching 462.89 thousand electric cars, as stated in the company's official statement. Sales of Model 3 and Model Y, lower-priced models, accounted for 439,975 thousand, while the remaining sales totaled 22,915 thousand. The average estimate from analysts on Wall Street was for the...
Boeing ponders placing new shares for at least $10 bln - 10/02/2024
According to sources familiar with the matter, Boeing Co. may raise a minimum of $10 billion by issuing new shares, as stated by Bloomberg. The company needs the funds to refill reserves, which were drained due to the employees' strike, among other reasons. As per the agency's informants, the company is exploring different alternatives with advisors. According to sources from Bloomberg, Boeing...
TotalEnergies buys 45% in US shale gas project from Lewis Energy - 09/30/2024
TotalEnergies of France is acquiring a 45% interest in the Eagle Ford Basin dry gas project in Texas from Lewis Energy Group, a US company. The French company stated that the agreement enhances TotalEnergies's involvement in the American gas value chain. The acquired assets are expected to yield approximately 400 million cubic feet of gas per day by 2028. During April, TotalEnergies purchased...
FBI probes investment fund for collecting IT startup secrets for China - 09/27/2024
The Financial Times reports that the US FBI is investigating Hone Capital, a California-based venture capital fund financed by Chinese money, to determine if it has obtained trade secrets from US technology startups. Hone Capital was founded in 2015 with an initial investment of $115 million from a Chinese private equity firm. The venture fund invested in many IT startups, such as self-driving...
European Commission approves Swisscom’s deal to buy Vodafone Italia - 09/25/2024
Swisscom announced that the European Commission has given its approval for Swisscom to acquire Vodafone's Italian division for €8 billion. In March 2024, the Swiss company declared its purchase of Vodafone Italia. In August, Swisscom sent a report to the EC's competition department regarding foreign investment regulations. On September 23, the regulator announced that the assessment of the...
Canada to launch rare earth elements processing complex to compete with China - 09/23/2024
According to the Financial Times, the SRC Rare Earth Processing Facility is set to start operating in Saskatoon, Saskatchewan this week. The Saskatchewan Research Council (SRC) constructed a facility worth C$100 million ($74 million) to process rare earth elements (REE) from Australia, Brazil, and Vietnam before Canadian deposits are utilized. Mike Crabtree, CEO of the SRC Rare Earth Processing...
SEC fines company for failing to comply with ‘biblically responsible investing’ - 09/23/2024
Inspire Investing Inc., an investment advisor specializing in 'biblically responsible investing', was penalized by the SEC for not meeting the required standards. The regulatory authority reports that Inspire stated that it employs a data-focused approach to assess possible investment opportunities and refrains from investing in firms linked to specific business practices contradicting biblical...