Companies & CEOs
Toshiba's net profit grows by 7% for a year - 05/13/2019
Net profit of the Japanese Toshiba Corporation for the 2018-2019 fiscal year ended March 31, increased by 7% to 1.013 trillion yen ($ 9.2 billion), according to the company’s reports. Earnings per share for the year stood almost unchanged, and just rose to 1.641 thousand yen ($ 14.9) from 1.628 yen ($ 14.8). Revenue decreased by 6.5% to 3.693 trillion yen ($ 33.5 billion), operating profit fell...
Buffet's Berkshire Hathaway gets in a solar energy Ponzi scheme - 05/09/2019
The financial corporation had to write off assets in the amount of $ 377 million after bankruptcy of DC Solar, which the FBI called the Ponzi scheme. Berkshire Hathaway Chairman of the Board of Directors and Chief Executive Officer Warren Buffett remains one of the richest people in the world, ranking 4th, according to the Bloomberg Billionaire Index, with a fortune of $ 88.7 billion. However,...
Gucci returns to beauty shops - 05/08/2019
Gucci creative director Alessandro Michele, who took this post in 2015, finally got his hands on decorative cosmetics: the Italian brand presented an updated lipstick line. The cosmetic collection developed by Michele also features products for skin, eyes, and so on. Gucci cosmetics appeared in 2014. The original concept’s authors were the then creative director of the brand Frida Giannini and...
Toyota's annual profit falls by 24.5% - 05/08/2019
Net profit of the Japanese automaker Toyota Motor Corp. decreased in the last fiscal year by 24.5%, despite the growing revenue and car sales. The company projects profit growth in the current fiscal year, but the forecast was worse than market expectations. The company's net profit at the end of the financial year, which ended on March 31, 2019, fell by 24.5% to 1.88 trillion yen ($ 17.07...
BMW profit falls by 75% in Q1 - 05/08/2019
Profit of the German automaker Bayerische Motoren Werke (BMW) declined in the first quarter by 75% in annual terms due to large-scale losses associated with the investigation in the EU. Net profit in January-March fell to €561 million compared to €2.26 billion in January-March 2018. In terms of ordinary and preferred shares, profits fell to €0.85 from €3.44 a year earlier. Profit before tax and...
LetterOne, BASF create Europe's largest oil and gas company - 05/03/2019
DEA AG, a member of the investment giant Letter One, has completed its merger with Wintershall, a subsidiary of the German BASF concern. This is stated in the message of the combined company Wintershall Dea. The final integration of assets is expected to be completed during the year. At this time, Wintershall Dea will be managed from two headquarters - in German Kassel and Hamburg. As a result of...
UK watchdog easens regulations for Lloyds - 05/02/2019
The organization was able to free up about a billion pounds. Information about this has become a driver for the growth of bank shares. Shares of Lloyds Banking Group rose by 1.7% at the start of trading on May 1st. The growth was triggered by the information about the decision of the Bank of England to soften requirements for the credit institution, which allowed it to free up about £ 1 billion....
US Treasury sets a record in fines in April - 05/02/2019
The April 2019 was marked by completion of an investigation by the US Treasury Department against two banks: the British Standard Chartered Bank, as well as the Austrian, Italian and German branches of UniCredit. The American regulator accused them of multiple violations of US sanctions regimes. The case of Standard Chartered was related to sanctions against Iran, Sudan, Cuba and Syria. The case...
WeWork applies for IPO - 04/30/2019
Following technological startups going to stock exchanges, WeWork, an American coworking spaces chain, is pondering an IPO, too. In January, the company was estimated at $ 47 billion. Of all US companies that are about to hold an IPO soon, only Uber can boast a higher estimate. We Company (until January working under the WeWork brand) submitted documents for an IPO to the US Securities Commission...
Airlines are losing revenue because of Boeing 737 MAX scandal - 04/30/2019
Publication of quarterly reports showed that the scandal with the Boeing 737 MAX brought major losses not only to the manufacturer, but also to airlines. American Airlines reported that the aircraft down time would cost it $ 350 million, Southwest Airlines - at least $ 200 million, and Norwegian Air - about $ 60 million. Boeing itself has already stated that it could lose about $ 1 billion. In...
