The Strategist
Companies & CEOs

Nike's net profit climbs 10% up in 9 months of 2019-2020 - 03/25/2020

Results of the first three quarters of the 2019-2020 financial year ending February 29 showed that the American manufacturer of sportswear Nike increased its net profit by 10% in annual terms to $ 3.33 billion, the company said in its financial statements. Diluted earnings per share in the reporting period rose to $ 2.09 from $ 1.87 a year earlier. The company's revenue for these nine months...

Marriott and others announce global layoffs - 03/24/2020

The hotel chain Marriott International and others began to send tens of thousands of workers on forced leave to survive the crisis, writes The Wall Street Journal. Marriott’s spokeswoman confirmed that approximately two-thirds of the 4,000 employees at Bethesda, Maryland, were offered to go on vacation at their own expense. In addition, approximately two-thirds of workers abroad were sent on...

Experts: There can be a wave of bankruptcies among Asia-Pacific companies - 03/24/2020

The outbreak of coronavirus COVID-19 could provoke a wave of bankruptcies among companies in the Asia-Pacific region (APR), which have increased their debt over the years of low interest rates, writes the Financial Times, citing analysts. According to Moody's, from the time of the global financial crisis of 2008 to 2019, the amount of outstanding debt of companies in the region has doubled and...

Equinor suspends buyback program - 03/23/2020

The Norwegian oil and gas group Equinor (formerly Statoil) has suspended the buyback program due to coronavirus, the company said in a press release. “We are now taking action to remain stable during a period of low prices, volatility and market uncertainty, in accordance with our contingency plans. In this situation, due to the spread of Covid-19 and low commodity prices, we suspend the buyback...

Exxon lowers production at Baton Rouge due to low demand for raw materials - 03/23/2020

ExxonMobil, a US oil company, is cutting production at its Baton Rouge refinery in the United States due to low demand, Reuters reported citing sources familiar with the plant. "ExxonMobil has reduced production at the Baton Rouge, Louisiana refinery, as low demand resulted in an increase in stocks and tank filling," Reuters notes. It is indicated that the volume of production at the Baton...

Boeing to reduce dividends, start layoffs - 03/20/2020

Boeing may reduce dividends and begin to lay off employees of its enterprises, writes Dow Jones, citing informed sources. The American aircraft manufacturing concern is now in an extremely difficult situation due to a sharp drop in air traffic as a result of the spread of the coronavirus: airlines around the world have reduced flights, a significant portion of their aircraft remains on the...

Eni cancels €400M buyback - 03/19/2020

One of the world's largest energy companies, the Italian Eni SpA withdrew the offer to buy back shares worth €400 million because of the COVID-19 pandemic and the collapse of the OPEC + deal, the company said. “In light of recent market events caused by the spread of the COVID-19 pandemic and recent decisions made by OPEC +, Eni’s board of directors has decided... to withdraw the offer to...

NYSE fully switches to e-trading from March 23 - 03/19/2020

The New York Stock Exchange (NYSE) is closing the trading room to switch to electronic trading completely from Monday, March 23, after tests on the employee and trader COVID-19 coronavirus showed a positive result. "Trading and regulatory oversight of all securities listed on the NYSE will continue without interruption," reads a statement from Intercontinental Exchange Inc., the exchange’s...

Inditex net profit for 2019-2020 grows by 5.7% - 03/18/2020

Net profit of the Spanish Inditex Group, one of the largest clothing and footwear retailers in the world (Zara, Pull & Bear, Massimo Dutti, Bershka, Stradivarius, Oysho brands), grew by 5.7% for the 2019-2020 financial year (ended January 31), reaching €3.639 billion, the company said. Inditex revenue for the reporting period also increased by 8.2%, amounting to €28.286 billion. Comparable...

Boeing is asking for $ 60 billion to help the airline industry - 03/18/2020

Boeing advocates for the US government to provide at least $ 60 billion to support the aerospace industry, a statement the organization’s website reads. In particular, the support should be implemented in the form of loan guarantees, the company noted. “This will be one of the most important ways to help airlines, airports, suppliers and manufacturers recover (amid falling passenger traffic due...
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