Companies & CEOs
Oil majors are leaving Norway - 08/28/2018
Back in 2015, Royal Dutch Shell Plc and BP Plc expressed doubts about the future of rapidly drying oil fields in the North Sea. Now, these fears are fueled by collapsing oil prices and high production costs of Norwegian oil. In this situation, it is not surprising that the British oil giants began to wind up their work in Norway. Now they are joined by other major oil companies, such as Exxon and...
Baidu is expanding into fintech sector - 08/24/2018
Baidu Inc.’s subsidiary company, operating in the financial services sector, has obtained a license to sell mutual funds. The license is expected to help the company reduce the gap in competition in the fast-growing financial and technological sector, Caixin writes. The license notice was published on the website of the Beijing branch of the China Securities Regulatory Commission (CSRC) on...
Germany aims to lead next European Commission - 08/24/2018
Elections and appointments of all kinds are approaching in the united Europe, and so the next year will be hot in the political sense. Analysts expect a keen struggle for seats in the European Parliament and for leadership in all-European organizations. Any member of the European Union can apply for them, but only European heavyweights have real chances. The German press writes that the Federal...
Bankers are eyeing a deal with Tesla - 08/22/2018
Elon Musk stirred up the whole world of investment banking services with his message on Twitter about the possible transfer of Tesla to the category of private companies. The fact is that no company of Tesla scale has yet been bought by private investors. Moreover, the standard way to do this, that is, burdening the company with debts of borrowed funds, is not an option for the automaker, since...
Total stops operating in Iran - 08/20/2018
The French oil and gas company Total stopped operating in Iran, Iranian Oil Minister Namdar Zangeneh said. "Total officially left the South Pars project, Phase 11," Zangeneh noted. He recalled that the company announced withdrawal from the agreement more than two months ago. Total acted as the leading participant in the consortium for the development of the world's largest gas field. The...
Lenovo returns its profit in the black in Q1 - 08/17/2018
Chinese Lenovo Group Ltd, one of the world's largest PC manufacturers, has returned to a profitable level in the first financial quarter against the backdrop of an increase in profitability of all major divisions. The company's press release states that its net profit for the quarter ended June 30 was $ 77 million compared to a net loss of $ 72 million for the same period last year. Earnings...
Tencent's revenue drops for the first time in 13 years - 08/16/2018
In the II quarter, Chinese tech giant Tencent Holdings Ltd recorded a drop in net profit for the first time in almost 13 years due to weaker performance in the mobile and computer games segment. This is reported by Reuters. Tencent's net profit in April-June amounted to 17.87 billion yuan ($ 2.59 billion), a decrease of 2% in annual terms. This is the first decrease in profit since the third...
BP is going to revive its US business - 08/16/2018
British Petroleum Corporation hopes for a second chance in the shale oil market in the United States and has already bought oil and gas fields from BHP Billiton for $ 10.5 billion. For the most part, the British giant missed the early stages of the American oil revolution. Trying to recover from consequences of explosion of the Deepwater Horizon oil drilling platform in 2010 and pay off...
Monsanto to pay $ 289 million fine for cancer-causing herbicide - 08/15/2018
The American company Monsanto, previously acquired by the German Bayer for $ 66 billion, lost a case in the San Francisco District Court. The company will be liable to pay a $ 289 million fine to a school gardener DeWayne Johnson, who was diagnosed with cancer after using the Roundup herbicide. In 2014, Johnson was diagnosed with non-Hodgkin's lymphoma. He used the Roundup for many years and...
Glencore posts record profit thanks to a sharp rise in commodity prices - 08/15/2018
Despite the scandal, the financial affairs of the trading giant reached a climax thanks to the rise in prices for commodities. Swiss mining and trading company, Glencore PLC, one of the world's largest suppliers of raw materials, including oil, reported for January-June. The company showed a record profit in the first half of the year due to a sharp rise in raw material prices. The net income...
