Chemical concern BASF and investment company LetterOne, owned by Russian oligarch Mikhail Fridman, are going to combine their oil and gas subsidiaries Wintershall and DEA. The parties signed a protocol to define the merger. According to the document, at the first stage, 67% of Wintershall DEA shares will belong to BASF, 33% - LetterOne. The German concern informed that IPO of the merged company...

French Finance Minister Bruno Le Maire and Minister of Budget Gérald Darmanin will interview representatives of the Airbnb service on the practice of using Payoneer credit cards for settlements with landlords. These cards could contribute to tax evasion by homeowners, since the cards were issued in Gibraltar. Airbnb may have serious problems in France, if the country's authorities decide that the...

Over the past 18 months, shares of Square have risen more than 400%. The company has repeatedly outperformed forecasts for revenue and profit, while significantly increasing the EBITDA margin. The last quarterly report, together with the news that Square is experimenting with the crypto currency, caused a sharp jump in the company’s shares to record highs. Given the high price of shares,...

The American division of the Italian company Eni can commence working on oil exploration in federal waters near Alaska as soon as Trump’s administration approves the permit for leasing, the Interior Department said. The Bureau for Safety and Environmental Enforcement (BSEE) granted Eni permission to explore oil from an artificial island in the Beaufort Sea. Eni is the first company that was...

Let’s talk about how much the number of Autodesk subscribers has grown, how Ambarella's innovations are developing and whether Kroger managed to catch up with competitors. Last week, stock markets rose as mood of investors affected optimistic forecasts of retailers for the holiday season. The Dow Jones Industrial Average and the S&P 500 have updated historical highs and added significantly...

Samsung Electronics Co Ltd’s shares on Monday fell more than 4%, to a minimum in a month, after Morgan Stanley lowered its recommendations for the South Korean technology giant, pointing to concerns that the boom in demand for memory chips will soon reach a peak, writes Reuters. The so-called "super cycle" of memory chips, during which the prices were growing due to the demand for increasing the...

American media company Meredith Corp is buying Time Inc, publisher of the magazines People, Sports Illustrated and Fortune. Meredith is going to pay $ 1.84 billion in cash with the support of billionaires brothers Charles and David Koch, writes Reuters. Meredith is acquiring shares of Time at a price of $ 18.50 per share in cash. Taking into account the debt, the value of the transaction for the...

For all its technical complexity, Uber is a relatively easy-to-understand business. The company does not have physical assets, and it does not hire drivers - the software connects people who want to go somewhere, with other people who would like to give them a ride, and Uber gets some of the money. We are familiar with this mechanics and financial side of this type of intermediary business thanks...

US oil and gas giant Exxon Mobil has joined European partners, including Royal Dutch Shell and Total, in a new initiative to find ways to reduce emissions in its gas operations, Reuters reports. British BP, Italian Eni, Exxon, Repsol, Shell, Norwegian Statoil, French Total and Wintershall have committed to further reducing methane emissions in their gas production, the companies said in a joint...