Companies & CEOs
US Chesapeake Energy files for bankruptcy - 06/29/2020
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...
US court orders Telegram to return $1.2B to investors - 06/26/2020
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...
Iberdrola stops $1.2B investment project in Mexico - 06/25/2020
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...
German prosecutors arrest former Wirecard CEO - 06/24/2020
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...
Chevron Corp. to resume oil exports from Saudi Arabia and Kuwait - 06/23/2020
In July, one of the world's largest energy companies, the American Chevron Corp., intends to resume oil exports from its joint ventures with the governments of Saudi Arabia and Kuwait, according to the Wall Street Journal, citing officials in both countries. It is expected that the level of production will increase by about 80 thousand barrels per day in this regard. The newspaper also recalls...
T-Mobile and AT&T began massive layoffs - 06/22/2020
US telecom operator T-Mobile US began to cut jobs faster than planned after closing a merger with rival Sprint Corp. T-Mobile said it plans to spend about $ 300 million more than originally expected on transaction costs, mainly related to the payment of termination benefits. The company did not specify how many people would be downsized. At the end of 2019, the company was employing 53,000...
Fiat Chrysler to receive € 6.3B assistance from Italian government - 06/22/2020
According to Reuters, the Italian-American automaker Fiat Chrysler has reached an agreement with the government on a loan in the amount of € 6.3 billion. This will be the largest loan issued to any of the automakers in Europe since the beginning of the pandemic and guaranteed by the government. As previously reported, the Italian government was ready to guarantee the carmaker a loan for three...
Apple to transfer iPhone SE assembly to India - 06/19/2020
The American company Apple plans to assemble the second generation of iPhone SE smartphones in India, Apple Insider said. iPhone SE is the most budget model in the current line of Apple smartphones. According to the publication, Apple asked one of its suppliers in China to arrange the delivery of iPhone SE parts to India. The country already has the necessary capacity for assembly, since the...
Google increases assistance to public organizations to $1B - 06/18/2020
Google has offered additional $ 200 million in grants for nonprofits. Thus, the company is increasing its obligation to pay up to $ 1 billion, reports CNBC. Google supports organizations that help combat COVID-19 and racial injustice. Previously, the company provided $ 800 million each year. Google is also adding new features to its platforms, such as a tool that allows users to search and book...
IKEA sets to return state aid received during the pandemic - 06/15/2020
The Swedish IKEA hypermarket chain has begun negotiations with several governments to return state aid allocated to the company as a support measure in the context of the COVID-19 coronavirus pandemic, the Financial Times (FT) reported. The company explained its decision by saying that the consequences of the temporary closure of its stores were not so catastrophic. “Now the most appropriate...
