Companies & CEOs
Microsoft buys LinkedIn in exchange for concessions - 11/24/2016
US corporation Microsoft will receive EU’s approval to acquire LinkedIn social network in exchange for some concessions, in particular, for providing competing social networks with access to Outlook platform. If the deal with LinkedIn is approved, Microsoft will allow competitors to use Outlook’s networks and application programming interface (API) to manage mail and scheduling, Reuters reported,...
Ryanair to introduce free flights - 11/23/2016
Many seats on Ryanair’s flights may be free in the next ten years, said Executive Director of the airline. According to Michael O'Leary, the company aims to nullify tariffs. The airline itself will receive revenue from airports to which Ryanair will bring its customers. Speaking at the Airport Operators Association conference in London in London, the airline’s spokesman noted that Ryanair is...
HP's revenue in 2016 fell by 6% - 11/23/2016
Revenue of office equipment manufacturer Hewlett-Packard (HP) fell by 6% to $ 48.2 billion in 2016 fiscal year. Revenue for the IV quarter totaled $ 12.5 billion, which is 2% more than in the same period last year. HP Inc.’s revenues in the 4th fiscal quarter increased by 2%, to $ 12.51 billion from $ 12.27 billion in the same period a year earlier. Experts polled by FactSet on average expected a...
Amazon to broadcast sports events - 11/22/2016
The world's largest Internet retailer Amazon is preparing to launch live broadcasts of sports events, available for Amazon Prime subscribers. The American company is currently in talks to acquire rights to broadcast live from the National Basketball Association, National Football League, Major League Baseball and other sporting organizations. According to The Wall Street Journal, the world's...
Enel will devote profits to minority shareholders - 11/22/2016
Italian Enel is planning to invest additional revenue to increase dividends, repurchase shares from minority shareholders and, possibly, to hold a buyback. New strategy of the company implies that share of dividends in profits will amount to 65-70 % in the next three years. € 2 billion obtained from sale of assets, will be used to buy shares from minority shareholders. Buyback is also considered...
Petrobras strives to recoup losses after bribery scandal - 11/21/2016
Anti-corruption investigation carried by Brazilian authorities helped oil state corporation Petroleo Brasileiro (Petrobras) return $ 60 million. The money was received from politicians, officials and businessmen involved in the corruption scheme. Part of them agreed to cooperate with the investigation. Head of Petrobras Pedro Parente said the company lost about $ 1.8 billion due to then existing...
Novartis to pay up to $ 665 million for US lab Selexys Pharmaceuticals - 11/21/2016
Swiss pharmaceutical giant Novartis announced purchase of American research laboratory Selexys Pharmaceuticals, which deals with diseases of the circulatory system and inflammatory processes. The lab specializes in sickle-cell anemia, a hereditary disease. As reported by AFP, the transaction amount can amount to $ 665 million (€ 627 million). Novartis agreed to buy the lab after examining results...
Trump claims he saved a Ford plant in the US - 11/18/2016
Donald Trump moved beyond rhetoric in order to justify trust of voters of the State of Kentucky. The US President-elect urged carmaker Ford Motor Company to change direction, and keep production in the United States. Trump persuaded Bill Ford, Chairman of the company, to abandon an idea to move production from a plant in Lincoln, Kentucky, to Mexico. He is wearing his heart on his sleeve and is...
Volkswagen struggles with financial consequences of Dieselgate - 11/18/2016
Last year, Volkswagen found itself in the center of a scandal. The US authorities found out that the carmaker forged results of tests one emissions of harmful gases into the atmosphere. The investigation is gradually resulting in withdrawal of thousands of cars made by the German company, huge fines and a series of lawsuits from consumers. Now, the scandal has slightly faded, but still did not...
France demands that Societe Generale return € 2,2 billion in taxes - 11/15/2016
French Ministry of Finance has launched a process to return of € 2,2 billion of tax incentives, with which the government has provided Societe Generale bank, due to loss from actions of the institution’s former trader Jerome Kerviel. Les Echos writes this, citing sources. According to the publication, Tax Administration of the Republic intends to return either the entire amount granted to the...
