By 2022, US ExxonMobil plans to invest $ 20 billion in projects for processing hydrocarbons and petrochemicals on the Gulf of Mexico coast in the US, the company said, citing statement of its Head Darren Woods. Investments made in 2013-2022 within 11 existing and planned projects will create more than 45,000 jobs, he said. In particular, Woods meant projects for oil and gas processing, as well as...

Net loss of one of the world's largest energy companies, Italian Eni SpA, attributable to shareholders of the company shrank by 5.9 times to 1,464 billion euros in 2016, the company said. Per share loss numbered 0.41 euro against a loss of 2.44 euro in 2015. Eni's revenue in the reporting period decreased by 22.9%, up to 56.693 billion euros. The company decreased production of hydrocarbons by...

Apple and Samsung signed a $ 11.4 billion-worth contract, according to The Wall Street Journal citing insiders. The South Korean company agreed to supply 160 million curved OLED displays for flagship iPhone 8, to be released this fall. One of iPhone’s new models will receive a curved OLED-screen produced for Apple by its main competitor, South Korean Samsung Electronics.  According to The...

Japanese telecommunications company Softbank Group is organizing a merger of British satellite startup OneWeb, financially supported by Intelsat, one of the world's largest satellite companies. The deal must be approved by Intelsat’s shareholders. Size of the debt of the latter is $ 15 billion, so the company hopes that this merger will somehow help improve its financial position. Softbank's...

Fitbit bought Pebble, manufacturer of smart watch, for $ 23 million, follows from the quarterly financial report, published on 22 February. Earlier media, including Bloomberg, reported that amount of the transaction could reach 40 million. According to The Verge, it is unlikely that amount of the transaction exceeded amount of debt accumulated by Pebble in the past five years. Fitbit’s report...

Net profit of Swiss company Glencore in 2016 increased by 48 percent and amounted to 1.99 billion US dollars. Net debt of Ivan Glasenberg’s company fell 40 percent down to 15.5 billion dollars, which is a billion less than the target level, announced at the beginning of last year. "Since initial public offering in 2011 and subsequent acquisition and integration of Xstrata, Glencore has never been...

From 2009 to 2015, shares of Starbucks have grown by 1170%, but fell by 8% in 2016 without any apparent reason. The company practically has no room to grow, but it keeps outpacing the industry. After fat years of 2009 to 2015, shares of the coffeemaker dropped by 8% in 2016 for no discernible reason. At that, market grew by 10% in total.  A skeptic might point to a slowdown in sales...

Lenovo is creating Lenovo moto, a single brand for its smartphones. The manufacturer is stopping production of brands such as Motorola, and Vibe, announced executive director of Lenovo's mobile division. In 2014, Lenovo bought Motorola Mobility from Google. The deal amounted to $ 2.91 billion. According to Gartner, the combined company is not included in the top five of the world's leading...

European aerospace group Airbus announced that its annual profit for 2016 amounted to € 995 million, which is 63% less than the year before. Such a sharp decline in profits is explained by higher costs of the military transport aircraft A400M programme. For the whole year, the group spent€ 2,2 bln on correcting defects and associated alterations in the programme. As reported in Airbus’...