Companies & CEOs
EC suspected Luxembourg of illegally providing tax incentives to French Engie - 09/19/2016
The European Commission (EC) announced start of proceedings on a taxation scheme accorded to French power and gas group GDF Suez (now called Engie) in Luxembourg. "The Commission has a reason to believe that some of decision of Luxembourg’s tax authorities, contrary to the EU rules of the state support, could give GDF Suez an unfair advantage over other companies" - said the European Commission...
Samsung sold shares in four companies - 09/19/2016
Technology giant Samsung announced sale of shares of four companies, including ASML Holding NV and Seagate Technology Plc. Thus, the company in order to release funds for additional investments in its core business. Samsung stated that it sold about half of its shares of ASML, and the whole package of Seagate shares, that is, 4.2%. The company was also sold 0.7 percent stake in Sharp Corp and...
US authorities to impose a record fine on Deutsche Bank - 09/16/2016
US Justice Department demanded that Deutsche Bank pays $ 14 billion for its participation in the mortgage crisis of 2008. This amount may be the largest fine imposed by the American authorities to a foreign bank. US officials sent to the Germany's largest bank Deutsche Bank requirement to pay $ 14 billion for compensation for losses incurred as a result of the mortgage crisis of 2008. Press...
Unilever is planning to buy Jessica Alba's company - 09/16/2016
Unilever is in talks about purchase of a manufacturer of environmentally friendly cleaning products. The parties are discussing a sum of more than $ 1 billion, which is significantly less than last valuation of the company. Unilever, owns Dove and Domestos, is in talks to acquire Honest Co., founded by actress Jessica Alba. The company produces eco-friendly diapers and hygiene products, writes...
Walt Disney announced layoffs due to financial difficulties - 09/15/2016
American company Walt Disney announced downsizing in one of its units due to weak financial performance, according to The New York Times. The layoffs are related to Digital Media and Consumer Products Department. The company fired 250 employees in total, which is 5% of the entire labor force employed in these areas. This is not the first personnel reduction at Walt Disney in recent months. In May...
PotashCorp and Agrium Inc. to merge into the largest producer of fertilizers - 09/13/2016
Canadian fertilizer producers Agrium Inc. and PotashCorp are going to merge. They will create the largest player in the global fertilizer market with capitalization of $ 36 billion by the middle of 2017. The largest North American retailer of agricultural products Agrium Inc. and the world’s leading in terms of capacity manufacturer of fertilizers Potash Corporation of Saskatchewan Inc....
HP to buy Samsung's printer business - 09/12/2016
Samsung Electronics decided to get rid of its business for production of printers, and has already found a buyer - American HP Inc. The transaction is valued at US $ 1.05 billion, and Samsung has also committed to purchase HP shares (publicly traded) in the amount of $ 100 to $ 300 million. HP believes that, despite the shrinking global market of printing and copying devices, the deal with the...
Wells Fargo will pay a record fine to CFPB - 09/09/2016
One of the largest US banks Wells Fargo has been fined $ 185 million for the fact that its team opened more than 2 million accounts and credit cards without consent of customers. This was done to hit sales targets and receive bonuses. The bank has dismissed 5,3 thousand employees, who were suspected of involvement in fraudulent schemes. On Thursday, the US Consumer Financial Protection Bureau...
Super Mario Run pushed Nintendo's shares up by more than 13% - 09/08/2016
Today, shares of Nintendo on the Tokyo Stock Exchange rose by 13.2%, from 24695 to 27955 yen apiece. The jump followed rapid growth of American Depositary Receipts (ADR) of the company on the NASDAQ stock exchange. These securities went up immediately to 28.79% (from $ 28.2 to $ 36.32) just during one day. Wall Street Journal’s experts attribute such a rapid growth of Nintendo’s securities to...
John Malone to buy Formula One - 09/08/2016
Liberty Media owned by American billionaire John Malone announced its intention to purchase Formula One auto races from a consortium of vendors led by private equity firm CVC, reports The Wall Street Journal. CVC Capital Partners, based in London, bought a controlling stake in Formula One in 2006. 100% stake in the franchise is estimated at $ 4.4 billion. Total worth of the race is $ 8 billion,...
