The Strategist
Companies & CEOs

Daimler Truck to assemble Mercedes-Benz electric buses in Brazil - 07/15/2022

In November and December, Daimler Truck will start assembling Mercedes-Benz electric buses in Brazil. Amid rising demand in the biggest economy in South America, Daimler Truck Holding AG aims to begin producing its first Mercedes-Benz electric bus type in Brazil in November and December, the corporation announced. By 2024, the business projects that there will be 3,000 electric buses on...

PepsiCo's net profit grows in the first half of the year - 07/13/2022

According to a statement from the firm, net income attributable to U.S. PepsiCo Inc. stockholders increased by 39.7% from the same period last year to $5.69 billion. The diluted earnings per share were $4.09, up from $2.94 in the prior year. Revenue of the corporation increased 7% to $36.425 billion, with 13.3% organic growth. Operating revenue increased by 35% to $7.344 billion. PepsiCo's net...

Electric car maker Rivian cuts 5% of employees - 07/12/2022

Rivian Automotive, a manufacturer of electric vans, pickup trucks, and SUVs, intends to reduce its staff by 5%. According to Bloomberg, 700 out of the more than 14,000 employees would be affected by the layoffs. According to the sources, this includes teams with overlapping functions and non-manufacturing employees. They said that no final decisions had been made regarding layoffs. The...

German Uniper asks for €9 billion in aid - 07/11/2022

According to Bloomberg, the German energy holding company Uniper turned to the German government for financial support. The corporation asked for almost €9 billion, which is more than twice its market value. In addition to asking for an increase in its credit line, the company offered the government the chance to purchase its shares. According to a previous article in Handelsblatt, the government...

Chinese watchdog fines Alibaba and Tencent - 07/11/2022

Alibaba, Tencent, and other internet behemoths have all received fines from China for breaking transparency laws. Tencent and Alibaba both received fines of over $896,000 and around $349,000, respectively. According to Reuters, China's government punished tech giants Tencent, Alibaba, and other businesses for failing to declare transactions. A list of 28 transactions that broke the rules was...

Japan's largest bank MUFG to buy stocks of unsold goods from companies - 07/06/2022

The largest bank in Japan, Mitsubishi UFJ Financial Group (MUFG), will establish a special division called MUFG Trading, which will buy inventory from manufacturing firms that they are unable to sell and do not have a place to store, according to the Japanese news agency Nikkei. It is anticipated that the bank will purchase a range of goods from producers, including food and semiconductors, keep...

EasyJet's CEO steps down amid airlines chaos - 07/05/2022

The chief operational officer of the British low-cost airline EasyJet, Peter Bellew, announced his resignation. The reasons for the resignation are unknown, although as noted by newspapers, the leave is taking place while thousands of flights across Europe are being canceled. Prior to Mr. Bellew's appointment in 2019, EasyJet's director of flight operations, David Morgan, held the job. Mr. Morgan...

H&M's quarterly profit rises higher than forecasts - 07/01/2022

H&M, a Swedish apparel chain, released its results for the first half of 2022 and the second quarter. The business reported that its overall revenue in the second quarter was SEK 54.5 billion (€5.2 billion), up 17% from the same period last year, and its net income was SEK 4.8 billion (€448 million), up 33%. Refinitiv's poll forecasted a 3.87 billion kroner (€363 million) quarterly profit. The...

Italy's Intesa cuts its share buyback program for 2022 - 06/27/2022

The share repurchase plan for 2022 at Italy's Intesa Bank has been cut in half. The biggest bank in Italy, Intesa Sanpaolo, reduced its share repurchase program by half this year, to €1.7 billion. It also intends to decide on the second half of the shares early in the next year. Intesa announced in February of this year a €3.4 billion scheme to buy its own securities. By 2025, the bank wants to...

De Beers boosts diamonds sales - 06/23/2022

According to preliminary corporate data, the global diamond giant De Beers boosted its diamond sales for the fifth business cycle of this year (June 6 to 21) by 7.6 percent in comparison to the prior cycle to $650 million. From May 2 to May 17, the preceding fourth business cycle took place. The quantity of sales during that time was $604 million. Diamond sales at De Beers increased 36.3...
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