Companies & CEOs
Glencore's investors want Glasenberg to stay away from acquisitions - 08/18/2016
A year ago, Glencore was on the verge of crisis. Yet, the company managed to improve the situation through debt reduction, asset sale and thanks to increase in prices for raw material. Now, shareholders of the mining and trading company hope that its CEO Ivan Glasenberg would not start buying assets again. Glasenberg turned Glencore from commodity trader in one of the world's largest mining...
Uber to sue London authorities over English exams - 08/18/2016
The British division of Uber announced its intention to sue the Department of Transport in London. The latter wants all private taxi drivers from non-English speaking countries to have compulsorily taken an exam for English proficiency by October. Uber said that a court should verify legitimacy of such claims, which may damage the company's business. Since the beginning of this year, the London...
Linde, Praxair to create the world's largest industrial gas manufacturer - 08/16/2016
American Praxair is in talks to merge with German company Linde. The transaction, which would continue surge of consolidations in the sector, could result in creation of the world's largest supplier of industrial gases. Details of the talks are not known. At that, one of the sources warned that the negotiations may end up in vain. Even if the parties agree on merger terms, the transaction can be...
SEC to pay $100 mln to whistleblowers - 08/11/2016
State Street and BNY Mellon have already paid more than $ 1.2 billion on settlement agreements with the US government. In July, State Street agreed to pay $ 530 million to settle charges in purchase of currency for customers at inflated rates. Much of this sum will go to the SEC and the US Department of Justice, writes the WSJ. BNY Mellon has agreed to pay $ 714 million back in 2015. Then, the...
BP to sell its largest enterprise in China - 08/09/2016
The largest British oil company BP is looking for buyers for its 50% - stake in major Chinese petrochemical plant SECCO. The deal is estimated at $ 2-3 billion, Reuters reported citing informed sources. BP has hired investment bank to handle the sale. Reuters’ sources said BP wants get rid of the asset due to lack of control over the enterprise. A successful deal would be the first major signal...
Sony to place $ 1 billion in bonds - 08/08/2016
The Japanese corporation Sony Corp. is planning to raise about $ 982 million through the issuance of corporate bonds for institutional investors. This is reported by Nikkei Asian Review. According to the publication, the company will issue the securities in September. The conditions, the exact timing of coupon payments and options are not yet known. Sources say that it will be outright debt...
Samsung outdistanced Apple in North America - 08/03/2016
In the II quarter 2016, combined share of South Korean smartphone makers Samsung Electronics and LG Electronics in North America achieved a record 49%, while Apple’s position fell to 24.5%. At the global market, Samsung continues to lead with its Galaxy S7 model. "Share of Samsung Electronics rose during the period by 5%, to 32.7%", - says report of marketing agency Strategy Analytics. Apple's...
Theranos promised to present new products - 08/02/2016
Elizabeth Holmes, Head of controversial "bloody" startup Theranos, promised to solve the problems for which criticized the company was criticized, and told about new products, reports Reuters. Speaking to an audience at the American Association for Clinical Chemistry in Philadelphia, Holmes told about new products that will be very different from current operations carried out in clinical...
Adidas doubled operating profit thanks to restructuring - 08/01/2016
For the fourth time since the beginning of the year, Adidas has raised its annual profit forecast. The company’s management is expecting a profit of 1 billion euros by the end of 2016. One of the main reason for the improved forecast was premature termination of a contract with Chelsea FC. Through this, the English football club agreed to pay compensation of $ 57 million. Preliminary data for the...
Google, GlaxoSmithKline to dive into bioelectronics - 08/01/2016
Verily, previously owned by Google, and the largest pharmaceutical company in the UK are going to invest about 540 million pounds sterling in Galvani Bioelectronics company. The latter will be receiving tranches, totaling $ 715.12 million, during seven years. The new company will be based in GlaxoSmithKline’s research center Stevenage, north of London. The second research center will be located...