Companies & CEOs
Emirates sends employees to leave due to coronavirus outbreak - 03/02/2020
Dubai-based Emirates Group, managing one of the world's largest airlines, asked employees to go on vacation amid falling demand for flights. Due to the outbreak of coronavirus, the company suspended most flights to China and Iran, and also canceled flights to Saudi Arabia from more than 20 countries. Dubai Emirates Group employees are asked to go on leave due to the consequences of an outbreak of...
Norway oil fund earns record sum thanks to stock market rally - 02/28/2020
The Norwegian State Pension Fund (also known as the Oil Fund), the largest national wealth fund in the world, earned a record amount in 2019 thanks to a rally in the stock markets. According to the fund’s financial statements, revenue amounted to NOK 1.692 trillion ($ 180 billion), or 19.9%. In nominal terms, the indicator was maximum, in percentage terms - the second largest during the existence...
Bayer's profit grows twofold in 2019 - 02/27/2020
Net profit of the German chemical-pharmaceutical concern Bayer AG over the past year jumped 2.4 times compared to 2018, and reached €4.091 billion, the company said. Earnings per share were €4.17 compared to €1.8 a year earlier. Sales rose 18.5% to €43.545 billion. In particular, the revenue of Bayer pharmaceutical division in 2019 increased by 7.3% to €17.962 billion, revenue of the Consumer...
Mondelez to pay $1.2B for Give & Go - 02/26/2020
American Corporation Mondelez International Inc. is buying baking maker Give & Go, the company said in a press release. "Today, Mondelez International announced a signed agreement to acquire a significant majority stake in Give & Go from Thomas H. Lee Partners, L.P. (THL)," the statement said. According to Bloomberg, the deal is worth $ 1.2 billion. The transaction is expected to be...
Investors turn to protective assets amid coronavirus spread - 02/26/2020
International investors are alarmed by the high pace of the spread of coronavirus outside of China. Therefore, they are fleeing to the protective asset, gold. The assets of exchange-traded funds investing in precious metal reached a new historical level of 2.61 thousand tons, adding over 90 tons in a month and a half. As a result, the value of gold returned to the values of seven years ago. Data...
Warren Buffet's Berkshire increases net profit by 20 times in 2020 - 02/25/2020
Net profit of Berkshire Hathaway, an investment firm owned by US billionaire Warren Buffet, jumped 20 times in 2019 to $ 81.4 billion from 4.021 billion in the previous year, the company said in its financial statements. The company associates this growth mainly with last year’s tax reform of US President Donald Trump. "Now Berkshire should reflect... the rise and fall in the value of shares in...
Groupon shares lose over 44% - 02/20/2020
Shares of the American coupons discount service Groupon Inc collapsed by more than 44%, to a record low of $ 1.70 during trading in the US on Wednesday. Thus, the papers displayed the most significant one-day sale since 2011 when the company held an IPO. This week, Groupon reported a 23% drop in revenue in the fourth quarter of last year compared to the same period of the previous year to $ 612.3...
Visa approves Coinbase as debit cards issuer - 02/20/2020
Coinbase, US cryptocurrency exchange, was granted the status of a full member of the system of Visa. For now, it is the only cryptocurrency company with this certification. Principal Member status allows issuing debit cards. Now, customers of Coinbase may spend their cryptocurrencies anywhere. Holders of Coinbase debit card (introduced in April 2019) can use their cards in 29 countries of...
Court stops dismissals in Petrobras - 02/19/2020
On Tuesday, the Brazilian Ninth Circuit Regional Labor Court suspended dismissals at a subsidiary of the Petrobras oil corporation, which triggered a three-week strike by the oil workers union. "The judge decided to suspend layoffs until March 6 during negotiations," the court said in a statement on Twitter. According to the court statement, for this period the local union is committed to end...
DP World delists from Dubai Nasdaq - 02/17/2020
One of the world's largest port operators - the emirate DP World - will delist its shares from Nasdaq Dubai, the company said. "DP World’s parent company, Port and Free Zone World, has offered to acquire a 19.55% stake in DP World, traded on Nasdaq Dubai, returning the company to private ownership," a DP World press release said. Each share of DP World will be purchased for $ 16.75, which is...
