The Strategist
Companies & CEOs

S&P downgrades Coinbase's long-term credit rating - 01/12/2023

According to a press release from S&P Global Ratings, the US cryptocurrency exchange Coinbase's long-term issuer credit rating has been reduced from 'BB' to 'BB-' with a negative outlook. The agency's experts remarked on their choice, saying that "Coinbase's trading volumes have dropped dramatically following the bankruptcy of cryptocurrency exchange FTX, and in our view, regulatory concerns are...

Airbus fails to meet 2022 aircraft production plan - 01/11/2023

In 2022, the aircraft manufacturer Airbus recorded 1,078 new orders and delivered 661 commercial aircraft to 84 customers. However, the company was unable to reach its manufacturing schedule as a result of supplier issues. "We delivered 661 airplanes to 84 customers in 2022, an 8 percent increase over 2021. Clearly, this is less than what we had anticipated," the business claimed in a report....

QatarEnergy and Chevron Philips to build large petrochemical plant - 01/09/2023

The six billion dollar project will be built in partnership by Qatar's state oil and gas business QatarEnergy and the American-Dutch company Chevron Phillips, according to QatarEnergy's press office. In order to construct the Ras Laffan Petrochemicals complex, a $6 billion integrated alkenes and polyethylene production plant in the industrial town of Ras Laffan, Qatar Energy announced a final...

Swiss ABB sells remaining stake in power grid business to Hitachi - 12/29/2022

ABB sold Hitachi its last remaining interest in the power grid business for $1.4 billion. ABB, a Swiss engineering company, said today that the sale of its remaining 19.9% ownership in its power grid business has been completed. Hitachi Group acquired a majority stake in it prior to that. Hitachi exercised an option to purchase the shares in accordance with the terms of its agreement to...

Japan's IETS signs LNG supply contract with U.S. Venture Global - 12/28/2022

Japan's IETS will be purchasing 1 million tons of LNG annually from Venture Global for 20 years. A 20-year purchase deal for 1 million tons of LNG per year was signed between Venture Global CP2 LNG, a subsidiary of Venture Global LNG based in the United States, and INPEX Energy Trading Singapore (IETS), a subsidiary of INPEX Corporation (INPEX), according to a press release. The project will...

WSJ: SPACs are liquidating in December at record rate - 12/27/2022

According to The Wall Street Journal, the SPAC (special purpose acquisition companies) merger market, which experienced an early-year boom, will enter a phase of mass liquidation by year's end. Four SPACs are liquidated each day this month, the same number as when this way of going public was most well-liked by businesspeople. Special-purpose mergers and acquisitions corporations (SPACs) are...

Nike reports second biggest revenue growth in more than a decade - 12/21/2022

Nike Inc reported its second-largest quarterly revenue increase in more than a decade, which easily outperformed analysts' earnings estimates, thanks to strong demand for sportswear and footwear in North America ahead of the holidays. After the close of the regular trading session on Tuesday, shares in the world's largest sportswear manufacturer were up 13%. During the quarter, the company used...

Tesla's market cap falls below oil giant ExxonMobil - 12/21/2022

According to stock exchange data, Tesla's market capitalization fell below that of oil giant ExxonMobil last week, to $435.14 billion. ExxonMobil, on the other hand, was valued at $439.38 billion in dollar terms during trading on Tuesday. Before the start of regular stock trading, Tesla shares were up 0.92 percent, and ExxonMobil shares were up 0.3 percent. At the same time, futures for the...

Fitch upgrades BP’s rating outlook to positive - 12/16/2022

According to a press release from the international rating agency Fitch Ratings, the outlook on the rating of UK oil major BP plc has been changed from stable to positive. The company's short-term rating was raised from "F1" to "F1+," but the long-term Issuer Default Rating (IDR) was maintained at "A." The optimistic view, according to Fitch analysts, "reflects a considerable reduction in debt...

Saudi Aramco and TotalEnergies to jointly build petrochemical complex - 12/16/2022

According to a joint announcement from the two corporations, Saudi Aramco and France's TotalEnergies will collaborate to establish a petrochemical complex in Saudi Arabia. A world-scale petrochemical complex will be built in Saudi Arabia, according to a statement from Saudi Arabian Oil Company (Aramco) and TotalEnergies. The facility will be called Amiral. The complex will be connected with the...
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