When planning еру initial public offering, WeWork, a coworking startup, sent investors inaccurate massages on its work, The Wall Street Journal writes. The publication believes that this circumstance may further undermine investor confidence in the company. The parent structure of the We Co startup provided incorrect information about the number and cost of work places that WeWork equipped in...

The US e-commerce giant has cut its investment in India this year. Since the start of this fiscal year, Amazon has invested 28 billion rupees ($ 394 million) in its Indian division called Amazon Seller Services, compared with 94.5 billion ($ 1.3 billion) last year, according to the Economic Times. Unless the retailer makes significant investments in the last quarter of this calendar year, this...

Apple Inc has informed its suppliers that it will increase release of smartphones from the latest product line (iPhone 11) by 10%. The company wants to meet higher than expected demand, according to Nikkei Asia Review. This means additional production of approximately 7-8 million phones. Apple introduced three new iPhone 11s in September. Prices in the US start at $ 699, which is $ 50 less than...

BP CEO Robert Dudley confirmed his imminent resignation, as reported by Sky News sources last week. He stated that he planned to retire at the age of 65, and declined to name a possible successor. BP CEO Robert Dudley, who has been in office since 2010, has confirmed to reporters his plans to retire. Sky News sources said last week that Dudley, 64, would leave the company within 12 months....

American clothing manufacturer Forever 21, Inc. filed a bankruptcy petition in the US court. The company noted in a statement that it is undergoing a bankruptcy reform process in preparation for closing non-profit stores around the world. “This does not mean that we are leaving the business. On the contrary, filing an application for bankruptcy is a deliberate and decisive step that guarantees us...

ExxonMobil, an American oil and gas company, has reached an agreement on the sale of its Norwegian exploration and oil production assets to local Var Energy for $ 4.5 billion, Exxon said in a press release. The assets include Exxon's shares in more than 20 existing fields, with most of them being operated by the Norwegian Equinor. The total production at these fields is about 150 thousand barrels...

McKinsey will open a store in the largest shopping center in the United States. The company will invite third-party brands to try new technologies in offline retail and understand how traditional stores can withstand the Internet, and first of all, Amazon. The McKinsey store will open on Friday, September 27, at the Mall of America in a suburb of Minneapolis (USA), writes the Financial Times. At...

Xiaomi, a Chinese manufacturer of smartphones and other consumer electronics, intends to apply for a loan of $ 1 billion. To do this, the company has already begun negotiations with potential lenders, Bloomberg news agency reported citing people familiar with the situation. The last time when the Chinese electronics manufacturer took a loan was in 2017. According to the agency, now the company is...

According to the prosecutor's office, VW top managers were too late to inform the exchanges about manipulation of diesel exhaust data, and thereby affected exchange rates. The Braunschweig prosecutor’s office sued executives of the Volkswagen automobile group, accusing them of market manipulation. Hans Dieter Pötsch, Supervisory Board Chairman, Herbert Diess, Chairman of the Board, and Martin...