The operating profit of Rheinmetall, the biggest defense company in Germany, increased by 27% from 2021 to a record-breaking €754 million in 2022. Armin Papperger, the CEO of Rheinmetall, claimed that the company's success is primarily obliged to the "war in Europe". "Rheinmetall entered a new period as a result of the epochal shift and the European War. Many nations have realized the importance...

Investors have invested $6.5 billion to Stripe payment provider. In a new round of funding, Stripe was valued at $50 billion, less than half of what it was in 2021 when the Collison brothers' service rose to become Silicon Valley's most expensive privately held company. According to The New York Times, which cited the company's announcement of the financing, Stripe has received $6.5 billion in...

Credit Suisse which shares the day before collapsed by a third will borrow $54 billion from the Swiss Central Bank to strengthen its liquidity. As a "decisive measure to proactively strengthen its liquidity," Credit Suisse intends to borrow up to 50 billion Swiss francs ($54 billion) from the Swiss Central Bank, the bank's press office announced on March 16. In addition, the bank issued a tender...

Following a "last-minute" request from the U.S. Securities and Exchange Commission (SEC), Swiss bank Credit Suisse announced that it is postponing release of its 2022 financial report. The bank, expected to issue its annual report on March 9, was approached by SEC on March 8. SEC had some concerns, according to Credit Suisse, regarding its unrestricted cash flow reports for 2019 and 2020. The...

Silvergate Capital Corporation stated that it is closing down and liquidating operations of its cryptocurrency bank Silvergate Bank. Silvergate Bank, a partner of Binance US, was one of the biggest cryptocurrency institutions in the United States on par with Signature Bank. Silvergate stated that it "believes that an orderly wind-down of the bank's operations and voluntary liquidation is the...

Adidas' net profit decreased 3.5 times to €612 million in 2022. According to a press statement from the company, the net profit attributable to shareholders of German Adidas AG, one of the biggest makers of sportswear and accessories worldwide, decreased by three and a half times last year compared to 2021, to €612 million. Diluted profits per share decreased to €3.34 in 2022 from €10.9 in...

On March 7, shares of Australian funeral provider InvoCare rose sharply after news that the company received a purchase offer from US investment firm TPG Global. The deal is valued A$1.8 billion ($1.2 billion). Shareholders of InvoCare will receive A$12.65 in cash for each share, per the agreement. Shares of the business increased by 39% to A$12.45 during trading on the Sydney Stock Exchange....

According to a press release from Saudi Aramco, the company intends to invest in Geely and the Renault Group partnership. The two carmakers intend to establish a company that will make power units based on technologies with reduced air pollution. "Aramco has signed a letter of intent to join Geely and Renault Group as a potential minority shareholder in the creation of a new power technology...

Anheuser-Busch InBev (AB InBev), a Belgian brewer, reported in a statement that its 2022 earnings increased by 12.8 percent to $6.454 billion. Profit attributable to stockholders grew by 27.8% to $5.969 billion. It was $3.21 per common share as opposed to $2.85 a year ago. The statement reads that revenue rose 6.4% to $57.786 billion and showed 11.2% organic growth. Profit for the fourth...