The Strategist
Companies & CEOs

Citigroup gets record fine from Bank of England - 11/27/2019

Citigroup Inc. was fined £ 44 million ($ 57 million) by the Bank of England. This is a record amount for the British Central Bank. The bank is charged with "serious errors" in reporting capital and liquidity ratios from June 2014 to December 2018. The Bank of England Prudential Regulatory Authority (PRA) identified significant weaknesses in the systems used by three UK Citigroup units to report...

China creates the world's largest shipbuilding group - 11/26/2019

China Shipbuilding Group was established after Beijing approved the merger of the two largest shipbuilding corporations in the country - China Shipbuilding Industry Corp. (CSIC) and China State Shipbuilding Corp. (CSSC). The total assets of the combined group amount to 790 billion yuan ($ 112 billion), the number of employees is 310 thousand. The shipbuilder produces a variety of products, from...

Exxon Mobil plans to accelerate asset sales worldwide - 11/22/2019

The American oil and gas corporation is going to sell assets in 11 countries for a total of $ 25 billion. This was reported with reference to unnamed sources in banking circles by Reuters. According to the agency’s sources, Exxon is going to withdraw from extractive assets in the British part of the North Sea, Germany, and Romania. Southeast Asia plans to sell assets in Indonesia and Malaysia....

PayPal signs record deal in its history - 11/22/2019

Payment company PayPal buys Honey online discount service. Last year, Forbes included this startup in the ranking of future unicorns. PayPal will pay for it $ 4 billion, and this is the largest amount in its history. PayPal payment company buys the online service Honey for $ 4 billion, which helps people save on purchases by comparing prices for goods and services in online stores. Buying Honey...

LVMH increases offer to buy Tiffany - 11/21/2019

Luxury holding LVMH Moet Hennessy - Louis Vuitton offered to acquire the American jewelry company Tiffany & Co for $ 16 billion instead of the $ 14.5 billion previously proposed, The Financial Times and Reuters reported citing sources. In response, Tiffany & Co promised LVMH to disclose confidential information about its financial position. According to Reuters sources, there are no...

T-Mobile CEO to resign - 11/19/2019

T-Mobile provider that announced that John Legere, the company’s CEO, will resign in April 2020 after expiration of the contract. The unexpected course of events is due to the fact that Legere has become one of the leading contenders for the post of WeWork's CEO. Mike Sievert, who is currently Chief Operating Officer and President at T-Mobile, will take his position. The firm reported that Legere...

The youngest self-made billionaire to sell her company - 11/19/2019

Kylie Jenner, the youngest self-made billionaire on Forbes list, will sell a controlling stake in her cosmetics company Kylie Cosmetics for $ 600 million. The buyer is Coty Corporation, which produces cosmetics under the Max Factor brand. Coty Inc will pay $ 600 million for 51% of Kylie Cosmetics, a cosmetics company owned by model Kylie Jenner, a joint press release reads. The parties plan to...

HP turns down Xerox offer - 11/18/2019

Board of directors of the computer and printer manufacturer HP has rejected the purchase offer of its competitor Xerox. HP's press release reads that the deal was estimated at about $33.5b ln. HP believes that it was "significantly underestimated", and the merger "does not meet the interests of shareholders" of the company. "In making this decision, the board of directors also took into account...

Alibaba applies for secondary listing at Hong Kong Stock Exchange - 11/14/2019

Alibaba Group Holding has applied for listing on the Hong Kong Stock Exchange. The company’s statement sent to the US Securities and Exchange Commission (SEC) said the New York Stock Exchange (NYSE) will remain a priority platform for the holding. It was previously announced that the Hong Kong Stock Exchange has approved Alibaba's secondary public offering (SPO). Last week, Bloomberg announced...

Bloomberg: Facebook nearly bought TikTok back in 2016 - 11/14/2019

Three years ago, Facebook was negotiating purchase of the Musical.ly video service, but declined the deal, Bloomberg writes. As a result, the new owner of the application turned it into TikTok social network, which has gained popularity among teenagers from around the world. Back in 2016, Facebook spent several months negotiating purchase Musical.ly application, which was later bought by the...
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