Companies & CEOs
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...
EBay profit grew five times - 07/21/2016
Online retailer eBay Inc. reported that the quarterly revenue exceeded expectations. The company also improved its outlook for the current year, relying on the company's efforts to modernize its online trading platform. Net profit in April-June was $ 435 million, or 38 cents per share, compared with $ 83 million, or 7 cents per share, obtained in the same period last year. Earnings excluding...
Sarbec Cosmetics Group unveils French secrets for building a strong cosmetics industry - 07/20/2016
Competition had better watch out. If there is a territory where French companies have managed to remain mistresses, it is in cosmetics. This industry can rely on its companies whose products are exported to the delight of women and men around the world. Among the most successful companies abroad, Sarbec Cosmetics has managed to get in the game thanks to its brand Corine de Farme. Their secret?...
Hyperloop One filed a counterclaim to its co-founder - 07/20/2016
Hyperloop One company filed a counterclaim to one of its founders Brogan Bambrogan, accusing him of trying to take control of the company and desire to create a competitor. Hyperloop One company filed a counterclaim to one of its founders Brogan Bambrogan, accusing him and three former employees in an attempt to intercept the company’s management, and in creation of a competing structure while...
Phillip Morris earnings fell more than expected - 07/19/2016
On the background of unstable exchange rates, the global manufacturer of cigarettes raised its forecast for net profit in 2016 from $ 4.45 to $ 4.55 per share. Excluding currency fluctuations, the company expects adjusted earnings per share to increase to 12% compared to 2015; most of the growth is believed to come in the IV quarter of 2016. For the period ended June 30, the volume of cigarettes...
Is Deutsche Bank following in Lehman Brothers' footsteps? - 07/19/2016
In June, the IMF named Deutsche Bank the world’s riskiest financial institution. Experts believe that the bank is unlikely to repeat the fate of Lehman Brothers, but if it does happen, the consequences for the global financial system can be catastrophic. In late June, the International Monetary Fund (IMF) has called Deutsche Bank, still reeling from the effects of the global financial crisis of...
SoftBank to buy British ARM for $ 32 billion - 07/18/2016
Japanese telecommunications company SoftBank Group is ready to buy British corporation ARM, produces processors for mobile devices, Financial Times reported, citing sources familiar with the situation. Estimated amount of the transaction numbers £ 24.3 billion ($ 32 billion). If the deal goes through, the purchase of ARM will be the largest in the history of European technology. According to...
