Companies & CEOs
Boeing to resume airplane deliveries to China in June - 05/30/2025
Boeing Co. will restart aircraft deliveries to China in the upcoming month, stated the company’s chief executive officer Kelly Ortberg during a Bernstein event on Thursday. Ortberg mentioned in April that shipments were stopped at the urging of Beijing. Reports indicated that Chinese officials instructed local airlines to cease accepting Boeing aircraft because of the trade conflict initiated...
Hailey Bieber sells her Rhode cosmetics brand for $1B - 05/30/2025
The cosmetics manufacturer company e.l.f. Beauty has acquired the cosmetics brand Rhode, founded by model Hailey Bieber, for $1 billion, writes CNN. The acquisition of Rhode marked the biggest purchase for e.l.f. Beauty, prior to its $355 million acquisition of skincare brand Naturium in 2023. Bieber will stay at Rhode as the chief creative officer and head of innovation. As reported by CNN,...
US bans a number of US companies from selling technology to China - 05/29/2025
The administration of US President Donald Trump has prohibited certain US firms from selling products to China, according to CNN, which referenced an unnamed official from the Commerce Department. As per the TV channel's source, the ministry views the exports as strategically significant for China. He mentioned that in certain instances, the Ministry of Trade “halted export licenses or...
European Commission may fine Shein for practices that violate consumer rights - 05/27/2025
The European Commission (EC) stated that Shein, the Asian e-commerce platform, engages in sales practices that breach EU law and may incur fines if it does not alter its behavior. European consumer protection regulators identified the violations, the EC stated in a release. The examination of Shein's practices is still in progress. The infractions involve misleading discounts, meaning the...
NATO ponders requirement for alliance countries to spend 5% of GDP on defense - 05/27/2025
Participants at the NATO summit scheduled for June 24 to 26 may approve a defense expenditure target of 5% of GDP for member nations, Secretary General Mark Rutte stated on Monday. “I acknowledge the chance that we will reach an agreement on increased defense expenditures - 5% of GDP - at the summit in The Hague,” Bloomberg quoted Rutte. The agency notes that Rutte has explicitly...
OnlyFans may be sold for $8 bln - 05/26/2025
Reuters writes citing three sources that the online adult content platform OnlyFans could be acquired by a group of investors headed by the US investment firm Forest Road Company for $8 billion. The sources note that several members of Forest Road's management team have been discussing a potential arrangement to take OnlyFans public as soon as 2022. Fenix International Ltd, which owns the...
BYD surpasses Tesla in electric car sales in Europe in April - 05/23/2025
In April, the Chinese firm BYD Co. surpassed Tesla for the first time ever in electric car sales within Europe, according to Bloomberg, referencing data from the analytical firm Jato Dynamics. In April, BYD's sales in the EU reached 7,231 electric vehicles, marking a 2.7-fold increase compared to the previous year. Tesla sales dropped 49% to 7,165 vehicles. “The gap in total sales numbers for...
Chinese pharma company Hengrui raises $1.3bn in Hong Kong IPO - 05/22/2025
Jiangsu Hengrui Pharmaceuticals, a Chinese pharma firm, executed a share sale in Hong Kong at the maximum limit of its announced price range, according to Bloomberg, referencing a report released by the Hong Kong Stock Exchange. Hengrui Pharma sold 224.5 million shares for HK$44.05 ($5.6) each. The total amount raised from the offering was HK$9.9bn ($1.3bn). According to the agreement, Hengrui...
Home Depot increases quarterly revenue by 9.4% - 05/21/2025
Home Depot Inc., the biggest home improvement retailer in the U.S., posted a 9.4 percent revenue increase in the first quarter of fiscal 2025, exceeding predictions, although its adjusted earnings and comparable sales fell short of analysts' forecasts. For the quarter ending May 4, the firm announced a net income of $3.4 billion, or $3.45 per share, in contrast to $3.6 billion, or $3.63 per...
QatarEnergy warns of oil companies' investment decline at price below $60 per barrel - 05/21/2025
According to Saad al-Kaabi, Qatar's Minister of Energy and head of QatarEnergy, oil companies require a price range of $70-80 per barrel to sustain production and growth, and investments will start to drop if prices fall below $60 per barrel. He claims that sustaining production at its current level, which grows costlier over time, necessitates considerable financial investment. The minister...
