The Strategist
Companies & CEOs

Pirelli's Italian shareholders increase stake in the company from 14% to 20.6% - 01/17/2024

According to the company, Marco Tronchetti Provera (MTP) SpA of Italy has raised its ownership position in tire manufacturer Pirelli to 20.58%. Two transactions resulted in the increase in stakes. Longmarch, which owns 3.86% of Pirelli, was purchased by MTP from a Chinese holding. Concurrently, Camfin SpA, a subsidiary of MTP, purchased a 2.8% share from an additional investor. MTP reminds...

Morgan Stanley to pay $249M over likely disclosure of confidential information - 01/15/2024

According to a press release from the regulator, American bank Morgan Stanley has agreed to pay over $249 million to resolve allegations of fraud and failure to provide "information barriers", states the US Securities and Exchange Commission (SEC). The charges concern the exposure of private information regarding the so-called "block trading", that is, the selling of big blocks of stock. SEC...

Twitch to lay off third of its employees - 01/11/2024

Popular streaming service Twitch, which is owned by Amazon.com Inc., plans to reduce workforce by 35%, laying off roughly 500 individuals, writes Bloomberg. The layoffs resulted from divisional losses and the departure of several top managers in recent months. Nine years after joining Amazon, Twitch is still losing money, according to the sources. This is mostly due to the expensive IT...

Starbucks to increase number of coffee shops in India from 390 to 1,000 by 2028 - 01/10/2024

The largest coffee chain in the world, U.S. Starbucks Corp., intends to open 1,000 locations in India by 2028. Tata Starbucks, a joint venture between Starbucks and Indian Tata Consumer Products, now manages 390 coffee shops in 54 Indian cities. According to a press release from Starbucks, the business intends to open one coffee shop in India every three days. By 2028, the corporation hopes to...

Honda to build $14 billion electric car plant in Canada - 01/09/2024

According to the Nikkei newspaper, Japanese carmaker Honda Motor Co. is thinking of establishing an electric vehicle manufacturing facility in Canada. The project may require up to 2 trillion yen ($14 billion) in investments. Honda is looking at a number of locations for the plant, one of which is close to its current Ontario operation. According to Nikkei, the project might involve building...

Shell signs 20-year LNG supply agreement with Canadian project - 01/09/2024

According to a press statement on the Ksi Lisims LNG website, the Anglo-Dutch energy corporation Shell has signed a 20-year agreement to deliver 2 million tons of liquefied natural gas (LNG) annually from Ksi Lisims LNG project in British Columbia. "Ksi Lisims LNG and Shell Eastern Trading Pte Ltd have inked a 20-year LNG purchase and sale agreement," said Ksi Lisims LNG Limited Partnership, a...

WSJ: Netflix sets to conquer gaming industry - 01/08/2024

Netflix is looking into ways to start generating revenue from its games, which may require a change in its streaming approach, writes the Wall Street Journal citing sources. Netflix began offering games in 2021; at the moment, all its members can download free mobile games. The streaming provider is currently looking for ways to earn on this option. According to the newspaper, the provider is...

JPMorgan makes one-fifth of all U.S. banks’ profits in January-September - 12/28/2023

The Financial Times estimated that JPMorgan Chase & Co. made approximately $38.9 billion, or 18% (nearly a fifth) of all profits made by U.S. banks between January and September. This is JPMorgan's largest share since 2009, when many banks were still struggling to recover from the financial crisis. This year's earnings for JPMorgan surpasses that of Citigroup Inc. and Bank of America Corp....

SoftBank shares up 7% after taking $7.6B stake in T-Mobile - 12/28/2023

SoftBank's stock added 7% in Tokyo after SoftBank and T-Mobile announced a deal. The Japanese investment group will receive 48.75 million shares valued at $7.6 billion at no additional expense. SoftBank Group's shares grew by 7% following the company's announcement that it would acquire around $7.6 billion worth of shares in T-Mobile US. According to Bloomberg, this was the largest rise in the...

Lionsgate to take its movie studio public through merger with SPAC - 12/25/2023

Lions Gate Entertainment Corp. (Lionsgate), a media firm based in the United States, plans to go public by merging with Screaming Eagle Acquisition Corp., a publicly traded specialty mergers and acquisitions company (SPAC). A press release from Lionsgate states that the agreement values the Lionsgate Studios business at $4.6 billion. It consists of studios that make television shows and feature...
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