Companies & CEOs
Apple pushes up iPhone 11 production - 10/04/2019
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 to step down; no possible successors named - 10/03/2019
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....
US clothing manufacturer Forever 21 files for bankruptcy - 09/30/2019
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 is selling its Norwegian assets for $ 4.5 billion - 09/27/2019
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 Consulting to open underwear and cosmetics store - 09/27/2019
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 to apply for $ 1 bln loan - 09/26/2019
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...
German prosecutor's office accuses Volkswagen of market manipulation - 09/26/2019
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...
Five richest Americans lose $ 6.5 billion after Trump impeachment inquiry announced - 09/25/2019
The U.S. House of Representatives announced an inquiry to begin the impeachment of Donald Trump. The reason was his conversation with Ukrainian President Vladimir Zelensky. Against the background of this news, US stock indexes showed the largest drop in a month, and fortunes of the five richest Americans declined in total by almost $ 6.5 billion. CBS News-5 ч. назад At the close of trading on...
AB InBev raises $ 5 billion during IPO in Hong Kong - 09/24/2019
The world's largest brewing company, Anheuser-Busch InBev SA (AB InBev), raised about $ 5 billion through an IPO of its Asian business, Budweiser Brewing Company APAC, on the Hong Kong Stock Exchange. The placement took place with the second attempt: the company planned to hold the event earlier, but in July interrupted preparations, citing market conditions. AB InBev sold 1.262 billion shares of...
Boeing takes on compensations for 737 MAX - 09/23/2019
Icelandic air carrier Icelandair has become one of the first airlines to agree with Boeing on compensation for the suspension of 737 MAX aircraft operation. Similar negotiations with many other airlines are also underway. According to experts, the costs of downtime of 737 MAX, whose flights which have not yet been resumed, has already reached $ 9 billion. Icelandic Icelandair said it has been...
