Companies & CEOs
HSBC to hold $ 2 billion-worth buyback - 07/31/2017
HSBC Holdings Plc, Europe's largest bank, posted financial results in the first half of 2017, which exceeded analysts' expectations. The bank announced plans to buy back its own shares for $ 2 billion in the second half of the year. HSBC's pre-tax profit for the first half-year was $ 10.2 billion, which is 5% more than in the same period a year earlier, the bank said. Analysts polled by the bank,...
Etihad Airways lost $ 1.87 billion in 2016 - 07/28/2017
Last year, Air carrier Etihad Airways suffered a loss of $ 1.87 billion due to depreciation of assets. The financial results of the company fully showed difficulties faced by aviation companies of the Persian Gulf. The air carrier's management associates part of the losses with the costs of fighting terrorism, as well as with low oil prices. However, the total revenue of Etihad Airways for 2016...
Facebook’s quarterly profit jumps by 71% - 07/27/2017
American Facebook, which owns the world's largest social network, increased its net profit in the second quarter of 2017 by 71% due to the rapid growth in advertising revenue. "We had a good second quarter and a good first half of 2009. Our community has reached 2 billion people, and we are trying to bring together the world's inhabitants," said the founder and head of the company Mark...
Michael Kors buys Jimmy Choo for $ 1.2 billion - 07/25/2017
American clothing retailer, Michael Kors, agreed to buy luxury footwear manufacturer Jimmy Choo for $ 1.2 billion, picking up the British brand launched in East London. The brand gained popularity thanks to celebrities such as Princess Diana. Founded in the 1990s, the company of Malaysian designer Jimmy Choo (Zhou Yangjie) became famous for its luxury footwear, which is sold in in London, Paris,...
10 largest defense companies in the world - 07/25/2017
Defense News published a rating of the world's largest defense enterprises. The edition makes an annual rating of the world defense enterprises on the basis of information from open sources, annual reports of companies, and also using data provided by the companies themselves. 10. Thales Country: France Revenue from the military-industrial complex in 2016: $ 8,362 bln Total revenue in...
Possible trade war between the US and China puts American business in the risk zone - 07/21/2017
American companies should expect an increase in tension between the administration of Trump and China. US Secretary of Commerce Wilbur Ross criticized China in connection with its trade surplus. This does necessarily mean that a trade war is inevitable, especially since the United States and China have already gone through a number of rough spots in relations since President Donald Trump became...
Qualcomm reports a decline in profits - 07/20/2017
Quarterly results of the manufacturer of mobile chips Qualcomm surpassed expectations of Wall Street. However, the company's forecast was worse than analysts' estimates, which caused a 2.3% drop in shares. Net profit of one of the world's largest manufacturers of components for mobile devices Qualcomm Incorporated for the nine months of 2016-2017 fiscal year (ended June 26) fell 1.79 times...
UniCredit is selling troubled loans - 07/18/2017
Management of the Italian bank UniCredit reported that it has signed an agreement with Fortress Investment Group and PIMCO on sale of troubled loans worth 17.7 billion euro. These loans will now be converted into securities, and then will be offered to investors. According to the agreement, one portfolio of problem loans will be allocated to a new firm, which is controlled by the hedge fund...
Nike vs. Under Armour: An investor's choice - 07/11/2017
Investors often compare Nike and Under Armour as these two compete in the segment of sportswear, footwear and accessories. Today, however, both manufacturers are experiencing completely different stages of development of their business. And the quotes show this perfectly: since the beginning of the year, Under Armor’s securities have fallen in price by 24%, while Nike’s shares have added 14%. So,...
The US charges a former Audi manager in ‘Dieselgate’ case - 07/07/2017
The US authorities charged the ex-manager of Audi (a division of the German automotive concern Volkswagen) in connection of a case of violation of US environmental standards. This is stated in a message issued on Thursday by the US Department of Justice. The agency notes that 60-year-old Giovanni Pamio, a citizen of Italy, is accused of conspiracy to fraud and violation of US environmental...
