Companies & CEOs
SoftBank loses nearly $2B because of failed investment - 02/13/2020
Following the third fiscal quarter’s results, the net profit of Japanese SoftBank fell by 13 times. It was almost completely destroyed by the losses of the company’s investment fund, which failed with the key projects, Uber and WeWork. Net profit of Japanese SoftBank in the third financial quarter of 2019 amounted to 55.04 billion yen ($ 501 million) against 698.29 billion yen for the same period...
Air Italy starts liquidation - 02/12/2020
Italy's second largest air carrier, Air Italy, announced start of liquidation; its flights will end on February 25. The company said the two owners of its shares, Qatar Airways and Alisarda, have decided to "hassle-free" liquidation and suspension of flights. "From February 11 to February 25, 2020 inclusive, all Air Italy flights will be operated by other carriers at the appointed time and on...
English Premier League to quit TV broadcasting - 02/12/2020
The English Premier League (EPL) is considering introducing a new scheme for selling media rights. The idea is to phase out contracts with television companies and switch to signal distribution through its own streaming service. According to estimates of the EPL, whose global audience is around 200 million households, the project will allow significantly increasing revenue from the implementation...
Geely and Volvo set to merge businesses - 02/11/2020
Swedish Volvo Cars AB and its parent organization, the Chinese Geely Automobile Holdings, have begun to explore the possibility of combining businesses and creating a global group that will accelerate the financial and technological interaction of the two structures, according to Volvo’s press release. The combined company will have access to the global capital market through Hong Kong. Listing...
China warns France against excluding Huawei from 5G networks - 02/10/2020
China warned France against excluding Huawei Technologies Co. from 5G networks amid the US campaign against the Chinese technology giant, Bloomberg reports. On Sunday, the Chinese Embassy in Paris called on France to establish "transparent criteria and treat all companies equally." They warned that a difference in treatment depending on the country of origin of the company would be seen as...
Uber's ex-head invests in hotels for millennials - 02/10/2020
Uber founder and former CEO Travis Kalanick invested in a Habitas startup that raised $ 20 million to build hotels using 3D printing technology. The company creates hotels for millennials. Travis Kalanick (No. 298 in the ranking of the richest people in the world, with a fortune of $ 5.8 billion) became one of the investors of the Habitas startup. This company plans to expand its network of...
French Engie's board of directors to replace Executive Director - 02/07/2020
The board of directors of the French company Engie (formerly GdF Suez) decided not to renew the powers of the executive director Isabelle Kocher, expiring in May 2020. According to the company's press service, Engie needs a new leadership to become a leader in the energy and climate sectors. Jean-Pierre Clamadieu, Chairman of the Board of Directors, thanked Ms. Kocher "for her work at Engie over...
Disney expects losses due to coronavirus in China - 02/05/2020
The Walt Disney Company expects a loss of $ 175 million if its theme parks in Hong Kong and Shanghai stay closed for another two months, CNBC reported. The parks stopped work due to the outbreak of coronavirus in China. “The current closure of (parks) is taking place during the quarter, when we usually see high traffic and they are busy due to the Chinese New Year,” said Disney CFO Christine...
Citigroup suspends one of the most famous European traders for stealing food - 02/04/2020
Investment Bank Citigroup has suspended one of its most successful traders from work. A high-ranking official who allegedly received a seven-digit golden parachute was accused of stealing food from a corporate cafeteria, the Financial Times reported. Citigroup suspended one of the top traders from work, accusing him of stealing food from the dining room, sources told the Financial Times....
French Worldline to create Europe's largest payments provider - 02/04/2020
The French company Worldline will buy its competitor Ingenico to create the largest payment operator in Europe (the fourth largest in the world). As part of the transaction, Ingenico was valued at € 7.8 billion. Worldline, a French payment system operator, has agreed to purchase its rival, Ingenico, Reuters reports. The companies noted that the deal will create a payment operator, which will...
