The S&P 500 Utilities sector showed the best results during the fall of the market. This is not surprising: traditionally, the utility sector becomes a “safe haven” in times of uncertainty in the financial market. It is interesting how dynamics of companies in this sector have improved over time. Since the end of September, the S&P 500 index has fallen by 8% (including dividend reinvestment),...

Bayer AG plans to cut 12 thousand jobs and leave the business of producing veterinary drugs, reports Bloomberg. The German company announced a number of steps, including leaving the segments of sunscreen and foot care products. It is noted that this move will strengthen the main divisions - the pharmaceutical and agricultural business of Bayer. The cuts, including a significant number of...

Apple, whose financial performance is not pleasing investors, faced another problem: the trade war with China caused the price for iPhone to rise by 10%. At the same time, the American leader believes that buyers will “easily cope” with price increases, which means that nothing terrible will happen. Since October, Apple Inc. has lost one fifth of its value and ceased to be a trillion-dollar...

The American chip maker Qualcomm Inc has created a $ 100 million fund to invest in startups working on artificial intelligence technologies, reports Reuters. The new organization will focus on AI technologies that will be used in unmanned vehicles, robotics and machine learning platforms. Qualcomm Ventures AI Fund has already invested in AnyVision startup, which is engaged in face and object...

Last week, the Emirates sovereign fund IPIC and its subsidiary Aabar Investments sued one of the world's largest investment banks, Goldman Sachs. The latter is suspected in corruption and bribing. The funds believe that the bank has played a key role in the international corruption scandal around the Malaysian investment fund 1Malaysia Development Bhd (1MDB). According to them, several Goldman...

For many years, two giants - Facebook and Google – have been ruling the American digital advertising market. Now they account for 61% of the cost of advertising companies in the United States. But a fierce struggle for the third place has been going on for a long time. Now, it is clear that the winner is Amazon. Moreover, according to analysts, the online retailer should become the new online ads...

The largest US automaker General Motors Co. (GM) is planning to reduce the number of employees in North America by 15%, including reducing the number of managers by 25%, the company said in a press release. Given the current number of GM employees in the region, the layoffs will affect more than 10 thousand people. The company also plans to close four plants in the United States and one in...

CNPC, the Chinese state-owned oil and gas company, has replaced Total, the French energy giant, in the South Pars Iranian multi-billion gas project. This was stated by Iranian Oil Minister Bijan Zangeneh, the ICANA news agency reported. "The Chinese CNPC officially replaced Total in development of Phase 11 South Pars, but in fact it has not yet begun work. It is necessary to negotiate with CNPC...

A consortium led by BP, a British oil and gas company, began production at the Clair Ridge project's giant oil field on the British shelf of the North Sea. "BP, together with partners Shell, Chevron and ConocoPhillips, today announced the start of oil production of the giant project Clair Ridge to the west of the Shetland region (islands) of the UK shelf," the company said. The share of BP in...