International taxi and logistics service Gett closed another $ 80 million investment round from Access Industries, Baring Vostok, MCI and Volkswagen Group. The company expects to become profitable in the first quarter of 2019. Given that Gett planned to attract way more investment, it seems that the service may refuse to seriously compete with Uber, the market participants say. The main...

While Netflix is developing its own film production in order to attract a loyal audience, viewers still believe that Netflix content is inferior to releases from most major film studios, according to a study by Barclays. As the researchers note, Netflix recently reported that a total of about 300 million viewers watched 33 original movies released by the company in 2018 (an average of about 9...

In six months, Iran will turn into a potentially very profitable market for companies that are not afraid of Washington's sanctions. Currently, European companies are preparing to turn off business in Iran in order to keep the American market open themselves. The situation of their American colleagues is even worse. Companies of the Old World, even theoretically, can still count on the support of...

Societe Generale SA (SG) has reached an agreement to pay more than $ 1.33 billion of fines. The agreement is related to negotiations with the regulators of the United States and France on settlement of cases in which the French bank was accused of manipulating the interbank market rates, as well as in illegal transactions involving Libyan counterparts, according to a report by the US Department...

International rating agency Standard & Poor's (S&P) lowered the long-term credit rating of Deutsche Bank issuer from "A-" to "BBB +"; the forecast is "stable". The ratings of Germany's largest bank are withdrawn from the list for revision with the possibility of downgrading. The bank was placed on the list on April 12. "The renewed strategy of Deutsche Bank provides for a deeper...

For the first time in its 130-year history, the world's largest diamond mining corporation De Beers begins to sell diamonds created in the laboratory. This is stated in a statement published on Tuesday, May 29, on the company's website. The firm controls almost 30% of the world market of natural diamonds. Artificial diamonds will be much cheaper, which can lead to a collapse in prices in this...

European companies are curtailing activities in Iran after the recent announcement by John Bolton, who promised fines and other punishments to those who would continue to cooperate with the Iranians. Obviously, European business does not really believe European politicians, at least when it comes to relations with the US and Europe's independence in foreign policy. The European Union has repeated...

The Financial Times and the US publishing house New York Media, which owns the New York Magazine, withdrew part of their ads from Facebook in response to introduction of new rules for marking materials on resonant topics. The editions did not like that a number of their news publications in accordance with the new rules of Facebook can be marked in the same way as political advertising. Last...

The court of New York satisfied claim of American performers to the streaming service Spotify. After two trials, Spotify will pay musicians $ 112 million. This is the first time that a streaming service will pay such a large amount as compensation to performers. The first lawsuit against the company three years ago was filed by David Lowery, copyright defender of Camper Van Beethoven band and...