This week, General Motors has published its annual financial report. In 2016, net profit of the largest US automaker fell to 2.7%, up to $ 9.4 billion. Why did the company meet with a loss? Sales of pickups and sport cars generate the main income of General Motors in the US. The European business, however, deteriorated again after a recent improvement. This means that the company's presence on...

According to Financial Times’ sources, French L`Oreal Group is considering selling natural cosmetics retail chain The Body Shop. The retailer, operates in 66 countries, has shown a negative trend of financial indicators, and can be sold for € 1 billion. The world’s leader of perfumery and cosmetics market L`Oreal is pondering a possibility to sell retail chain The Body Shop, acquired by the...

The week has just begun, and the banking industry has already brought some interesting news. Let's see what happened to the world’s top banks during the last few days. Wells Fargo lost the title of the most expensive banking brand Industrial and Commercial Bank of China (ICBC) surpassed the US Wells Fargo and became the most expensive banking brand in the world, according to Brand Finance...

CEO of BNP Paribas Jean-Laurent Bonnafé told in an interview with the Financial Times that the French bank intends to "transform its business" in the next three years. The largest in terms of assets bank is going to add 50% of investment in digital projects. According to Mr. Bonnafé, BNP Paribas will be investing € 3 billion in digital technology during this period. "A growing of our customers...

Toyota Motor and Suzuki Motor Japanese automakers announced signing of a memorandum of business partnership. Together, the automakers will be exploring technologies and fostering cooperation in supply of products and components. The transaction is expected to increase number of vehicles made by Toyota and its partners to at least 18 million per year.  Both companies have been considering...

General Director of Uber Travis Kalanick left the group of advisors on business issues to Donald Trump. The decision was taken under pressure society and his company’s team, reports Reuters. Founder of American company Uber Travis Kalanick resigned from Donald Trump's advisory council. Kalanick informed Head of state that he cannot keep working there after Trump signed a decree to toughen...

Guardian Media Group, which owns newspapers The Guardian and The Observer, warned that the group's losses could reach £ 90 million in the current fiscal year ending in April. This may result in further staff cuts in the UK and the USA, and, possibly, new format of the printed editions. Management of British Guardian Media Group (GMG), publisher of The Guardian and The Observer and owner of a...

Research firm Brand Finance has published its latest list of the world’s 500 most expensive and 10 most influential brands. Google tops the most valuable brand’s list, having pushed Apple away. Lego bypassed brands such as Nike and Google in struggle for the first place in the rating of the most influential brands. Brand Finance’s rating of the world’s 500 most expensive and 10 most influential...

Microsoft Corp. sold bonds for $ 17 billion, which has become the largest emission of this year, Bloomberg reported. The company surprised investors with such a major transaction shortly after earning $ 19.75 on another bonds sale in August. However, strong demand for Microsoft’s paper allowed the company to raise the bid higher than previously estimated $ 14 billion. The bonds were issued with...