Companies & CEOs
Ford to cut spending on sedans and internal combustion engines - 10/04/2017
Automotive concern Ford Motor Co plans to cut spending by $ 14 billion in the next five years, said company CEO Jim Hackett. According to Hackett, the automaker will switch the focus of capital investments from sedans and internal combustion engines to the development of trucks, electric cars and hybrid cars. As part of the cost reduction, the company intends to save $ 10 billion on material...
Bankruptcy of UK Monarch Airlines may affect 110 thousand British tourists - 10/03/2017
Yesterday, British travel company Monarch Airlines announced its bankruptcy, which has become the biggest crash among British airlines in recent years. The company’s problems can affect the 110 thousand British tourists who are now at various resorts. The government is already taking measures to return people. The bankruptcy of Monarch Airlines has already become the third bankruptcy of the...
EY: US banks are increasing profits much faster than European banks - 10/02/2017
The profit of the top ten US banks increased by 19 percent in the first half of 2017. The same figure for the banks of the EU climbed up just by 5 percent, Ernst & Young reported. According to British consulting company Ernst & Young (EY), large US banks increase the gap from European competitors in terms of profit. According to the results of the first half of 2017, the 10 largest...
BlackBerry’s new strategy bears fruit as the revenue goes up - 09/29/2017
BlackBerry’s quarterly results exceeded the forecasted figures. In addition, the company improved its annual revenue forecast against the background of record sales of the software division, writes Reuters. Canadian company BlackBerry, which last year stopped selling its own smartphones, focusing on the sale of software, reported a quarterly profit of $ 0.05 per share compared to breakeven a year...
Uber’s unceasing fight - 09/29/2017
The strategy "Move fast and break the order of things" seems to be failing. This is an unofficial motto of successful technological start-ups and status quo infringers such as Uber Technologies Inc., which are rapidly moving forward to occupy market share, win customers and drive potential competitors away. Uber and other companies have shown that sometimes the existing rules, perhaps the laws,...
Deal for the sale of Toshiba Memory is signed - 09/28/2017
Toshiba Corporation officially announced conclusion of a deal to sell its semiconductor business to a consortium of companies led by investment fund Bain Capital, Yonhap agency reports. The deal value amounts to about 2 trillion yen (about $ 18 billion). In the spring of this year, Toshiba’s shareholders voted to allocate a division for the production of NAND memory chips to an independent...
M&A transfer 70% of hi-tech companies into other sectors - 09/28/2017
Experts from Boston Consulting Group analyzed activity in the global M&A (mergers and acquisitions) market and found out that approximately 70% of technology companies were bought by corporations working in non-technological sectors in 2016. At the same time, the hi-tech sphere once again became the main driver of the growth of the global M&A market, just like in 1999 and 2007. Now, the industry...
Google finds a way to avoid EC’s huge fine - 09/27/2017
Google Corporation will allocate its online shopping service Google Shopping to a separate unit to comply with requirements of the European Commission and to avoid a serious penalty due to the dominant position in the European market. This is reported by Bloomberg. The new unit will operate in Europe separately from Google, with out-of-pocket cost of advertising. In this case, Google Shopping...
France gives the nod to Alstom-Siemens merger - 09/27/2017
The French government supported the plan to strengthen the position of the national industry through cooperation with companies from Germany. Paris has given its approval to a deal to merge French Alstom with railway division of German Siemens. Currently, France owns about 20% of the machine-building company Alstom. If the division of the German concern Siemens Mobility is merged with the French...
Failed sales of iPhone 8 hit Apple and its suppliers - 09/26/2017
American corporation Apple lost more than $ 56 billion of market capitalization. Taiwanese, South Korean and Chinese component manufacturers also suffered tangible losses after it turned out that the world sales of the new smartphone were weak. The lower demand for iPhone 8 smartphones resulted in serious financial losses for both the company itself and its foreign suppliers. According to...
