Companies & CEOs
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...
Diageo: save whisky from Brexit - 07/29/2016
Diageo, the world's largest producer of premium alcoholic beverages, is concentrating its efforts to protect its Scotch whiskey kitchens. This segment found itself behind the eight ball after the Brexit referendum. "Due to Brexit, now our focus is really on how to keep the segment of Scotch whiskey healthy. Trade agreements in Europe and around the world. You know, Johnnie Walker had been on more...
Yahoo's path to fiasco - 07/29/2016
Yahoo had been developing dynamically during the first 10 years after founding. Later, however, the company quickly gave way to Google and Facebook, which by the time had gained a foothold in Internet search and social networking niches. Yahoo’s revenue and number of users fell, and numerous services of the company could not keep up with innovations. Over 20 years of existence, Yahoo has been...
Boeing 747 may go out of production - 07/28/2016
Boeing assumed cessation of production of aircraft models 747. This suggestion is reasoned by decline in sales of the model, which is considered one of the most successful in the company’s history. American aircraft manufacturer Boeing Co. has revised plans on production of Boeing 747 aircraft. The company's financial statements indicated that insufficient number of orders and sluggish growth of...
DuPont exceeded Wall Street's expectations - 07/26/2016
Profit of chemical giant DuPont Co, Dow Chemical Co.’s rival, grew by 8.4% on the results of the 2nd quarter of 2016. The company is linking this to great success in the agriculture sector, and to cutting expenses in the food sector. DuPont’s largest segment, the agriculture, has been increased by 3% driven by higher sales of corn seeds and insecticides. Operating profit rose 30% to $ 130 million...
Daimler to create a competitor for Uber - 07/26/2016
Merger of mytaxi Daimler and Hailo will create the largest smartphone taxi service in Europe, able to compete with Uber, the current dominant of taxi market. British Hailo, which operates in Ireland and Spain, will combine their services with mytaxi, available in Austria, Germany, Italy, Poland, Portugal, Spain and Sweden. The company declined to disclose terms of the transaction. "As a result...
Christie's sales fell by 28% - 07/25/2016
In the first half of this year, Christie's sales of art pieces have fallen by 28% against the panic that has gripped financial markets and uncertainties after the UK referendum. Sales of the world's largest broker of art Christie's accounted for 2.9 billion in the previous year. This year, however, brought a fall to 2.1 billion pounds. One of the most expensive paintings for the company’s entire...
Wells Fargo to fortify the position in London - 07/25/2016
Wells Fargo will pay 300 million pounds for 33 Central building, located between business districts of Canary Wharf and Westminster, ($ 397 million), Bloomberg reported, citing sources. The bank representative’s only confirmed purchase of the building to WSJ. Central Building 33 is planned to be completed in the III quarter of 2017, said its developer HB Reavis. The 11-storey building area of 20...
Samsung sued Huawei for patent violation - 07/22/2016
Korean manufacturer of smartphones Samsung filed a lawsuit against Chinese company Huawei. Samsung is accusing its rival of violating patents. The company is demanding a compensation and suspension of production and sale of devices that use technologies protected by the patents. Samsung’s lawsuit continues patent dispute between the two largest Asian manufacturers of smart phones. The debate...
