Companies & CEOs
Former Volkswagen Group Seat director Luca de Meo to head Renault - 01/29/2020
Luca de Meo has been appointed as Renault's chief executive officer, the company said. Previously, Mr. de Meo headed the Volkswagen Group Seat. “Luca de Meo is a great strategist and visionary of the rapidly changing automotive world. His experience, as well as his passion for cars, make him a real asset for the group,” reads a statement of Renault Chairman Jean-Dominique Senard. Luca de Meo will...
Brazilian watchdog greenlights Boeing-Embraer deal - 01/28/2020
The American aircraft manufacturer aims to buy 80% of the commercial aviation division of the Brazilian giant. The Brazilian regulator approved a deal between Boeing and Embraer. The strategic partnership between the American and Brazilian aircraft manufacturers implies creation of two joint ventures. First, Boeing buys for $ 4.2 billion 80% of the Embraer sales and service division. The cost...
Indian goverment to sell 100% of Air India - 01/27/2020
Indian authorities approved sale of 100% of the shares of the national air carrier Air India, whose total debt obligations are estimated at $ 8.45 billion. The "Government of India gave "principal" approval for the strategic termination of Air India's investment by transferring management control and the sale of 100% of the share capital of Air India, owned by the Government of India, which will...
Two ex-Deutsche Bank employees accused of bribing Saudi royal family - 01/27/2020
German prosecutors are investigating two former Deutsche Bank employees, according to the Financial Times. The reason was an internal investigation of the bank, which showed that in 2011 and 2012 several of its employees bribed representatives of the royal family of Saudi Arabia in order to preserve them as customers. The audit showed that a German bank spent a total of $ 1.1 million on bribes....
Intel's net profit for 2019 remains at $ 21.05B - 01/24/2020
The net profit of the American company Intel, one of the world's largest manufacturers of computer components, at the end of 2019 remained approximately at the level of last year and amounted to $ 21.048 billion, the company said in a press release. Diluted earnings per share were $ 4.71 versus $ 4.48 in 2018. At the same time, revenue increased by 1.6%, to $71.965 billion. In the fourth...
Renault - Samsung - Motors alliance begins negotiations with striking workers union - 01/23/2020
Two weeks of work at the South Korean plant in Busan were partially suspended, which cost the conglomerate more than $ 170 million. The Renault-Samsung-Motors auto alliance factory in Busan has been partly in strikes since early January. The company was forced to cut production by temporarily shutting down night shifts. Two weeks of this regime resulted in production losses: 10,400 vehicles worth...
Louis Vuitton owner is not the richest man in the world anymore due to virus outbreak in China - 01/22/2020
Bernard Arnault, owner of Louis Vuitton and Dior, has been holding the first place on the list of the richest people in the world for only three days. On Tuesday, his wealth declined by $ 3.7 billion. The reason is the outbreak of a deadly virus in China, which scared investors in the shares of European luxury companies. The founder of Amazon's largest online retailer, Jeff Bezos, has regained...
PwC: Global business feels pessimistic in 2020 - 01/21/2020
Consulting and auditing company PwC has published the results of its annual survey of CEOs around the world. Last year 29% of the top managers polled expected a slowdown in economic growth; in this year, however, the number went up to 53%, which was a record high. A survey conducted by PwC among 1,581 people from 83 countries was presented at the World Economic Forum in Davos, Switzerland. The...
Hong Kong Airport falls in recession - 01/20/2020
The number of passengers passing through Asia's largest air harbor turned to be the smallest in 10 years. One of Asia’s busiest air harbors, the Chek Lap Kok International Airport in Hong Kong, has recorded the largest decline in passenger traffic over the past 10 years. Against the backdrop of protests in the special administrative region of China, which scared off tourists, in 2019 the number...
Alphabet's market cap hits $1 trillion - 01/17/2020
Capitalization of Alphabet, which owns Google, reached $ 1 trillion for the first time in its history. Prior to this, only three IT companies managed to achieve this market value: Apple, Microsoft and Amazon. The market value of Alphabet, the parent company of the search engine Google, reached $ 1 trillion for the first time for the first time in its history. At the time of publication, the...
