The Strategist
Companies & CEOs

Exxon lowers production at Baton Rouge due to low demand for raw materials - 03/23/2020

ExxonMobil, a US oil company, is cutting production at its Baton Rouge refinery in the United States due to low demand, Reuters reported citing sources familiar with the plant. "ExxonMobil has reduced production at the Baton Rouge, Louisiana refinery, as low demand resulted in an increase in stocks and tank filling," Reuters notes. It is indicated that the volume of production at the Baton...

Boeing to reduce dividends, start layoffs - 03/20/2020

Boeing may reduce dividends and begin to lay off employees of its enterprises, writes Dow Jones, citing informed sources. The American aircraft manufacturing concern is now in an extremely difficult situation due to a sharp drop in air traffic as a result of the spread of the coronavirus: airlines around the world have reduced flights, a significant portion of their aircraft remains on the...

Eni cancels €400M buyback - 03/19/2020

One of the world's largest energy companies, the Italian Eni SpA withdrew the offer to buy back shares worth €400 million because of the COVID-19 pandemic and the collapse of the OPEC + deal, the company said. “In light of recent market events caused by the spread of the COVID-19 pandemic and recent decisions made by OPEC +, Eni’s board of directors has decided... to withdraw the offer to...

NYSE fully switches to e-trading from March 23 - 03/19/2020

The New York Stock Exchange (NYSE) is closing the trading room to switch to electronic trading completely from Monday, March 23, after tests on the employee and trader COVID-19 coronavirus showed a positive result. "Trading and regulatory oversight of all securities listed on the NYSE will continue without interruption," reads a statement from Intercontinental Exchange Inc., the exchange’s...

Inditex net profit for 2019-2020 grows by 5.7% - 03/18/2020

Net profit of the Spanish Inditex Group, one of the largest clothing and footwear retailers in the world (Zara, Pull & Bear, Massimo Dutti, Bershka, Stradivarius, Oysho brands), grew by 5.7% for the 2019-2020 financial year (ended January 31), reaching €3.639 billion, the company said. Inditex revenue for the reporting period also increased by 8.2%, amounting to €28.286 billion. Comparable...

Boeing is asking for $ 60 billion to help the airline industry - 03/18/2020

Boeing advocates for the US government to provide at least $ 60 billion to support the aerospace industry, a statement the organization’s website reads. In particular, the support should be implemented in the form of loan guarantees, the company noted. “This will be one of the most important ways to help airlines, airports, suppliers and manufacturers recover (amid falling passenger traffic due...

Volkswagen net profit grows by 15.4% in 2019 - 03/17/2020

The after tax profit of the largest European automobile concern Volkswagen Group increased by 15.4% in 2019 compared to the previous year - up to €14.03 billion, according to the financial statements of the manufacturer. The car giant's revenue for the reporting period grew by 7.1% to €252.6 billion. Operating profit reached €16.96 billion, an increase of 21.8% compared with a year ago....

French LVMH starts producing hand sanitizer - 03/17/2020

Factories producing perfumes and cosmetics for the luxury holding LVMH will supply hand antiseptics due to the coronavirus. LVMH promises to produce 12 tons of antiseptics in the first week and stresses that the French authorities will receive products for free. Holding LVMH, owned by the richest man in Europe Bernard Arnault started production of hand sanitizers from Monday, writes CNBC with...

Elon Musk loses $5.5 billion for a week - 03/16/2020

Elon Musk, who called the panic because of the coronavirusstupid, lost $5.5 billion due to market instability, Forbes magazine reported. On March 6, the OPEC + countries were unable to agree either to change term and conditions of the deal to reduce oil production, or to extend it. As a result,restrictions on oil production in countries participating in the previous alliance will be liftedfrom...

Saudi Aramco’s net profit falls by 20.6% in 2019 - 03/16/2020

Net profit of Saudi Saudi Aramco in 2019 fell by 20.6% to $ 88.2 billion due to lower oil prices and weaker production, the largest oil company in the world reported. "The decrease can primarily be explained by lower oil prices and production volumes, together with lower margins in oil refining and petrochemicals, as well as with $ 1.6 billion loss associated with the Sadara Chemical Company,"...
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