Companies & CEOs
Troubled UniCredit to sell Polish Bank Pekao for € 2,4 billion - 12/08/2016
In mid-November, media reported that UniCredit is planning to raise € 13 billion on the market to strengthen its capital. The bank needs the funds to stabilize its position, which has weakened due to deterioration of overall situation in the country’s banking market. At the end of the third...
MetWest becomes the largest US bond fund - 12/07/2016
Pimco Total Return Fund, which has been the largest active fund investment in US bonds for two decades, lost the lead to Metropolitan West Total Return Bond Fund. According to Morningstar Inc., assets of MetWest fund increased by approximately $ 10 billion since beginning of the year, and amounted to about $ 79.6 billion as of the end of November, compared with $ 78.5 billion in the fund managed...
Starbucks bets on affluent clients - 12/07/2016
Going to IPO 25 years ago, Starbucks made its bet on a bold idea that Americans would be willing to pay more than $ 1 for a cup of coffee. Now, the company is confident that people will pay $ 12 for a cup in its expensive coffee restaurants. Founder of Starbucks, Howard Schultz, who last week announced his resignation as CEO, will lead this project. Experts explain this step by lower purchasing...
Four tech companies to invest in - 12/05/2016
The tech sector remains one of the most profitable and fastest growing part of S&P 500, yet it is quite expensive. Moreover, victory of Donald Trump gave investors jitters about fate of some of the biggest players, such as Amazon or Facebook. However, technology investor Paul Wick says there are exceptions in the general trend, especially in less fashionable but equally important sectors of the...
Maersk to buy Hamburg Süd - 12/02/2016
Danish Maersk Line, the world’s largest container shipping company, and Oetker Group reached agreement on Maersk Line’s acquisition of German shipping company Hamburg Süd, the Danish company said in a statement. The acquisition is subject to final agreement and approval of relevant authorities. Hamburg Süd (founded in 1871) is currently the world’s seventh-largest transport and logistics shipping...
Philip Morris expects end of cigarettes while BAT grows sales - 11/30/2016
Swiss tobacco giant Philip Morris may stop selling cigarettes, said André Calantzopoulos, CEO and Director of Philip Morris International Inc. in an interview with BBC. "I believe that there will come a time when I will declare that we have alternative products", - he said, noting that he hopes to work with governments to begin phasing out the cigarette. "I hope that this will happen in the...
Samsung will consider plans to split the company - 11/28/2016
On Tuesday, Samsung Electronics will consider a proposal to split the unit into two companies, Reuters reported with reference to the Seoul Economic Daily. In October, American Elliott Management hedge fund offered Samsung’s management to isolate business units involved in asset management and direct production. The fund also proposed to pay about $ 26 billion in the form of a special dividend,...
Thomas Savare, the French draftsman of the world - 11/25/2016
The number of printing factories in charge of secure printing for banknote production in the world is quite small. A handful of highly specialized banknote designers are responsible for keeping the world’s economies fluid, safe from counterfeiting and making the peoples around the globe proud of their country. Among them, the French firm Oberthur Fiduciaire, run by Thomas Savare, which has heaved (and kept) itself on the first tier of the world market. Its angle? Design and intimate knowledge of the world’s cultures.
Rio Tinto cuts investment - 11/25/2016
Rio Tinto has to reduce investments due to unclear market prospects. In 2016, the second major market player will invest less than $ 3.5 billion in various projects. This is 13% less than previous forecast of $ 4 billion. In 2012, Rio Tinto has spent for these purposes more than $ 17 billion, yet since then commodity prices began to fall, mining companies have significantly reduced cost of...
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,...