The Strategist
Companies & CEOs

Zoom market cap jumps over $50B for the first time - 06/01/2020

The market capitalization of Zoom, the video conferencing service, exceeded $ 50 billion for the first time during Friday trades, according to the exchange. As a result of trading on May 29 at NASDAQ, the company's share price rose 9.74% to $ 179.48. At this price, its market value was $ 50.61 billion. According to Bloomberg, this year the company's capitalization has grown by more than $ 30...

Credit Suisse to change approach to lending to billionaires - 05/29/2020

Credit Suisse plans to revise its approach to lending to billionaires after the crisis, Bloomberg reports. In particular, the management of the second largest bank in Switzerland will re-evaluate risks of lending to customers associated with the oil and gas industry and shipping. Credit Suisse is getting ready to revise its approach to working in one of the most profitable areas of its business -...

Twitter's head donates $10M to support crisis-affected families - 05/28/2020

Twitter’s Head Jack Dorsey donated $ 10 million to a charity that will give out the money to 10,000 families affected by the crisis. Dorsey turned out to be the most generous billionaire during the pandemic: in April, he promised to send $ 1 billion to fight the disease - a third of his fortune at that time. Jack Dorsey, general director of Twitter and Square payment platform, donated $ 10...

Bayer is about to settle the glyphosate case in USA - 05/27/2020

Bayer, a German chemical company, has reached a settlement with most plaintiffs in the US glyphosate pesticide lawsuit. The agreement extends to an estimated 50-85 thousand out of about 125 thousand plaintiffs, Bloomberg reported, citing informed sources. The agreement has not yet been signed. Under its terms, each of the plaintiffs will receive several thousand to several million dollars....

TikTok ahead of YouTube and Netflix in revenue from in-app purchases - 05/26/2020

TikTok and its Chinese clone earned $ 78 million with in-app purchases in April. This is the biggest result in the world; the figure exceeds YouTube, Netflix and Tinder. The total revenue of the TikTok mobile application and its Chinese counterpart Douyin in April amounted to $ 78 million, according to data from Sensor Tower analytical company. The figure does not include games and ads. This is...

Renault and Nissan consider cuts of more than $5B - 05/25/2020

Renault and Nissan, members of the Renault-Nissan alliance, are getting ready to announce spending cuts of more than $ 5 billion this week, the Wall Street Journal writes, citing sources familiar with the situation. Official announcements of companies are expected on Wednesday, Thursday and Friday, the publication added. According to sources, Nissan plans to cut spending by another $ 3 billion...

IT giants market cap hits record $ 5.6 trillion amid the pandemic - 05/25/2020

The combined market capitalization of the five largest US technology corporations - Microsoft, Apple, Amazon, Alphabet and Facebook - rose to a record $ 5.6 trillion. Although in March the price of their shares, as well as the shares of other companies, fell quite strongly, since then their value has recovered and has grown to values higher than before the crisis. Since the strongest fall in...

Qatar Petroleum to cut costs by 30% - 05/22/2020

Qatar’s state-owned oil and gas company Qatar Petroleum (QP) intends to cut costs by about 30% amid falling oil and gas prices, said the company’s head Saad al-Kaabi. "We are going through a budget review... In June, we will be somewhere within 30% to reduce costs, capex and operating costs," Reuters quoted al-Kaabi as saying. Along with this, he noted that the company still adheres to plans to...

Renault is pondering closing several plants in France - 05/21/2020

Renault is considering closing three small plants in France to cut costs, Les Echos writes citing sources. This decision may be announced in the coming days. Renault may close a small enterprise with 260 employees in Choisy-le-Roi (Val-de-Marne), a foundry in Brittany with 385 employees. After them, the car factory in Dieppe, where 385 people also work, may be closed. The plant in the Yvelines...

Dental startup sales jump by 1,000% during the pandemic - 05/21/2020

Sales of a start-up that offers tooth alignment systems without having to visit an orthodontist have grown by 1,000% during the pandemic. Unlike its competitors, even before the lockdown the company suggested that clients make an impression of the jaw independently and consult a doctor online. Sales of Byte startup, which offers dental alignment systems without having to visit an orthodontist,...
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