Organization People for the Ethical Treatment of Animals, PETA, has become a minority shareholder of French luxury manufacturer LVMH Moet Hennessy Louis Vuitton SA products. This way, the organization hopes to intensify the fight against the use hides and skins of exotic animals in the fashion industry, writes the Financial Times. PETA’s decision to buy shares in LVMH resulted from investigation...

General Director of American corporation General Motors (GM) Mary Barra said that the company is not going to revise plans on expansion of production abroad, despite criticism of the United States President-elect Donald Trump. "Automobile business requires long-term planning when choosing locations for production. Decisions are taken two or four years in advance", - quoted by AP. Ms. Barra...

McDonald's is selling 80% of its business in China and Hong Kong to Citic and Carlyle Group investment funds. The buyers will obtain the franchise to manage the fast food restaurants chain for 20 years. Consortium of Citic and Carlyle Group is acquiring 80% of the corporation’s regional business for $ 2.08 billion. Among other clauses, the agreement implies provision of the general franchise for...

Brazilian state oil company Petrobras announced sale of non-core assets for total amount of $ 587 million to mobilize efforts to reduce debt. According to The Wall Street Journal, the company put up for sale 45.97% stake in sugar and ethanol producer Guarani SA of French company Tereos Internacional in the amount of $ 202 million. In a separate statement, Petrobras representatives added that...

Japanese Takata and the US federal judicial authorities are nearing an agreement to settle criminal investigation on defective airbags. The supplier of automotive components is going to settle the case in January and is expected to pay a fine of up to $ 1 billion, writes The Wall Street Journal, citing sources close to discussion of the agreement. Eventual amount of penalty may be somewhat less...

American manufacturer of mobile processors Qualcomm has been fined more than $ 850 million for breach of antitrust laws. The company has been criticized worldwide for its business of licensing patents, reports The Wall Street Journal. On Wednesday, December 28, Korea Fair Trade Commission (KFTC) announced that Qualcomm illegally restricted access to their patents for other chipmakers. Company...

US Amazon.com Inc., the world's largest online retailer, announced that it has shipped more than 1 billion products worldwide during this Christmas and New Year's holiday season. The company says the holidays have already become the best in history. Head of the company’s global consumer products division, Jeffrey A. Wilke, commented that intelligent voice assistant Amazon Echo and its smaller...

Production of gasoline and diesel fuel at Mongstad, the largest oil refinery of Norwegian group Statoil, has decreased by 50% due to a leak of refinery products occurred in November. A broken pipe, located at an altitude of 50 meters, has not yet been replaced because of strong winds, blowing on the west coast of the country in recent weeks. The company still has not officially informed the...

2016 was a difficult year for hedge funds. They were actively criticized, called exaggerated, and their results were disappointing. Famous managers, including Ray Dalio (founder of Bridgewater Associates) and John Paulson (Head of Paulson & Co), showed double-digit losses. At the same time, Jason Mudrick’s bond fund (founder of Mudrick Capital Managemen) earned good money on commodities...