Nearly three million companies in Latin America and the Caribbean will cease to exist due to measures taken amid the COVID-19 coronavirus pandemic, according to a report by the United Nations Economic Commission for the Region (Cepal) on the effects of COVID-19. “The vast majority of companies in the region recorded a significant drop in their income and have difficulty maintaining their...

The wealth of the richest man in the world - Head of Amazon Jeff Bezos - jumped to a new historical record of $ 171.6 billion, according to the Bloomberg Billionaires Index (BBI) rating. Thus, the previous record, achieved on September 4, 2018, was updated - then the wealth of Bezos totaled $ 167.7 billion. The agency notes that a new record was made possible thanks to a jump in the value of...

The British-Dutch company Royal Dutch Shell said that in the second quarter it could write off the value of its assets in the amount of $ 15 billion to $ 22 billion. The company attributed this decision to consequences of the COVID-19 coronavirus pandemic, a slowdown in economic activity, and lower energy prices. The write-off of the value of assets will fall on three segments of Shell's...

Chinese oil giants are in talks to create a group that could become the largest oil buyer in the world. At first, they intend to jointly acquire Russian and African oil. Major Chinese oil refineries are in talks to create a group to jointly buy oil, sources familiar with the initiative told Bloomberg. According to them, negotiations are already at an advanced stage, and top managers are...

The US Department of Justice is expected to sue Google in the next few months and accuse the company of monopolizing the advertising technology market, Politico reports citing sources familiar with the situation. According to sources, on Friday representatives of the Justice Ministry and officials involved in antitrust activities held an online meeting to discuss the alleged lawsuit. According to...

Chesapeake Energy, a US-based shale oil producer, filed for bankruptcy, the company’s website reads. The company requested protection under Chapter 11 of the United States Bankruptcy Act, which allows for the reorganization of activities. The company's debt is estimated at approximately $ 7 billion. The company entered into an agreement with lenders, according to which it will be allocated a loan...

Telegram and the U.S. Securities and Exchange Commission (SEC) entered into a settlement agreement under which the court ordered Telegram to return $ 1.22 billion to investors (minus funds that were already returned or were reissued as loans), and pay a fine of $ 18.5 million. This is stated in the documents of the Federal District Court of the Southern District of New York. According to the...

The Spanish corporation Iberdrola, which is one of the world's largest renewable energy operators, halted the project for a combined cycle power plant in the state of Veracruz after failing negotiations with the Federal Electricity Commission of Mexico (CFE). "For more than a year the company was engaged in logistics, buying land and licenses, moving staff, spending $ 40 million, but could not...

On Monday, German prosecutors arrested Markus Braun, the former CEO of Wirecard fintech company. Mr. Braun’s arrest followed a scandal surrounding Wirecard that erupted after the company discovered a shortage of € 1.9 billion in the company's accounts and a possible overstatement of sales by its employees. The scandal surrounding one of the largest German fintech companies Wirecard, which began...