Last week, the Emirates sovereign fund IPIC and its subsidiary Aabar Investments sued one of the world's largest investment banks, Goldman Sachs. The latter is suspected in corruption and bribing. The funds believe that the bank has played a key role in the international corruption scandal around the Malaysian investment fund 1Malaysia Development Bhd (1MDB). According to them, several Goldman...

For many years, two giants - Facebook and Google – have been ruling the American digital advertising market. Now they account for 61% of the cost of advertising companies in the United States. But a fierce struggle for the third place has been going on for a long time. Now, it is clear that the winner is Amazon. Moreover, according to analysts, the online retailer should become the new online ads...

The largest US automaker General Motors Co. (GM) is planning to reduce the number of employees in North America by 15%, including reducing the number of managers by 25%, the company said in a press release. Given the current number of GM employees in the region, the layoffs will affect more than 10 thousand people. The company also plans to close four plants in the United States and one in...

CNPC, the Chinese state-owned oil and gas company, has replaced Total, the French energy giant, in the South Pars Iranian multi-billion gas project. This was stated by Iranian Oil Minister Bijan Zangeneh, the ICANA news agency reported. "The Chinese CNPC officially replaced Total in development of Phase 11 South Pars, but in fact it has not yet begun work. It is necessary to negotiate with CNPC...

A consortium led by BP, a British oil and gas company, began production at the Clair Ridge project's giant oil field on the British shelf of the North Sea. "BP, together with partners Shell, Chevron and ConocoPhillips, today announced the start of oil production of the giant project Clair Ridge to the west of the Shetland region (islands) of the UK shelf," the company said. The share of BP in...

Arrest of the chairman of the board of directors Carlos Ghosn questioned the future of the alliance between Nissan and its French partner Renault. The scandal surrounding the chairman of the board of directors of Nissan, Carlos Ghosn, led to a drop in shares of the Japanese automaker at the opening of stock trading in Tokyo. In the first minutes, papers of the companies lost 6.25%, dropping to...

Business will allocate funds to solve problems of health, education and civil infrastructure in regions experiencing a "shale boom." More than a dozen mining companies agreed to help the US states where the shale boom is taking place. According to Reuters, among them are Chevron, EOG Resources, Exxon Mobil and Royal Dutch Shell. They are part of a consortium that supports the Permian strategic...

Bank of China plans to invest up to 10 billion yuan ($ 1.44 billion) to launch a capital management subsidiary, reports The Paper. Following 14 small and medium-sized commercial banks that announced their intention to establish asset management subsidiaries, Bank of China was the first of the four largest state-owned banks to make this decision. The subsidiary will use Bank of China’s own funds...

The net loss of Uber Technologies taxi service increased in Q3 by 20% qoq to $ 1.07 billion, reports The Wall Street Journal, citing the company's financial report. Uber Technologies is not a public company and is not required to report on its financial performance. Nevertheless, the company has been providing reports for the last few quarters, preparing for an initial public offering (IPO)....