The Strategist
Companies & CEOs

Apple sets to invest billions of dollars to support the US economy - 04/27/2021

US Apple plans to invest more than $430 billion in businesses in the US over the next five years and create 20,000 new jobs across the country, the company said in a statement. "Over the past three years, Apple's contribution to the US has significantly exceeded the company's original five-year goal of $350 billion set in 2018. Apple is now raising its commitment level by 20% for the next five...

Founder of Turkish crypto-exchange goes missing with $2B investor money - 04/26/2021

The Turkish general prosecutor's office has launched an international search for the founder of the cryptocurrency exchange Thodex. According to local media reports, he fled the country, taking $2bn of investors' funds with him. Sixty-two people have been detained in the case. Turkey has launched an international search for the CEO of local cryptocurrency exchange Thodex, Faruk Fatih Özer, and...

Volkswagen to cut production in Q2 - 04/26/2021

Car maker Volkswagen will cut production volumes due to a global shortage of microchips, the Financial Times reported, citing the company's spokesman. "Suppliers and Volkswagen Group representatives tell us that we will face more problems in the second quarter than in the first," said the head of Spanish brand Seat, part of the Volkswagen Group. He said the lack of components was the "biggest...

Jaguar Land Rover to suspend production at two UK plants due to chip shortages - 04/23/2021

According to The Guardian, British car maker Jaguar Land Rover will halt production at two of its leading UK plants due to a shortage of microprocessors needed for in-car computers and other systems. The company confirmed to the publication that production would be halted "for a limited period of time" at its plants in Castle Bromwich in the West Midlands and Halewood in Merseyside. The Guardian...

Netflix shares fall nearly 12% after poor reporting - 04/22/2021

Netflix presented its financial report for the first quarter of 2021, showing that the streaming service's number of paid subscribers grew by 3.98 million in three months. This figure was much worse than the projected 6 million new subscribers worldwide. As a result, immediately after the publication of the statements, the company's shares on NASDAQ plummeted by 11.9%, and its market...

Johnson & Johnson increases net profit by 7% in Q1 - 04/21/2021

US-based Johnson & Johnson (J&J), the world's largest manufacturer of health products, posted a 6.9% year-on-year increase in net profit to $6.197 billion for the first quarter of 2021, the company said in a press release. On a per-share basis, diluted earnings were $2.32, compared with $2.17 a year earlier. Adjusted earnings were $2.59, compared with an estimate of $2.33. The company's...

Coca-Cola sets to raise prices on its products - 04/20/2021

The Coca-Cola Company, the world's largest producer of soft drinks, intends to raise prices for its products because of growing raw material prices, which are pushing up production costs, CEO James Quincey told CNBC. "We are well hedged in the year 21, but the pressure for the year 22 is increasing, so there will be a need to raise prices," Quincey said, noting that the company expects commodity...

BP to stop flaring natural gas at US biggest oil field - 04/20/2021

BP intends to abandon gas flaring at its fields in the Permian Basin in Texas and New Mexico, according to The Wall Street Journal. The company plans to completely stop flaring gas in oil production by 2025. Gas flaring is a common practice among oil producers in the Permian Basin, as most producers there work for more profitable oil.  By-product gas, on the other hand, needs additional...

Clubhouse valued at $4bn in new funding round - 04/19/2021

Voice social network Clubhouse has closed a new round of fundraising that valued it at $4bn, led by Andrew Chen of venture capital firm Andreessen Horowitz with major new investors such as DST Global, Tiger Global and Elad Gil. Voice communication app Clubhouse has announced the completion of a new funding round. The company did not disclose the amount raised, but a source familiar with the...

Mobile app developer AppLovin valued at $28.6bn in IPO - 04/16/2021

US mobile game and app developer AppLovin has raised $2bn in its IPO, with shares selling at $80, in the middle of an earlier price range of $75 to $85 per share. AppLovin will begin trading on NASDAQ today, April 15, under the ticker APP. AppLovin, founded in 2012, began as a developer of marketing tools for mobile game creators. Since then, the company has expanded its scope, now working on...
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