The Strategist
Companies & CEOs

TotalEnergies to study green hydrogen production project in Tunisia - 05/29/2024

A memorandum of understanding was signed with Tunisia by TE H2, a joint venture between TotalEnergies and EREN Groupe, and VERBUND, Austria's top electric utility, to investigate the implementation of a large-scale green hydrogen project named H2 Notos for pipeline export to Central Europe, according to TotalEnergies. H2 Notos seeks to manufacture green hydrogen using electrolysers fed with...

Elon Musk's AI startup xAI raises $6bn in investment round - 05/28/2024

Elon Musk's AI business, xAI, has completed a $6 billion financing round. According to the billionaire, the company was worth $18 billion before the funding. The artificial intelligence startup xAI, founded by Elon Musk, has raised $6 billion in a funding round, according to the company. Investment funds Valor Equity Partners, Andreessen Horowitz, Vy Capital, Fidelity Management & Research...

Indian online retailer Flipkart holds $1 billion investment round - 05/27/2024

According to the Economic Times, Google, a division of Alphabet Inc., contributed $350 million to the $1 billion financing round that Indian online retailer Flipkart, which is owned by Walmart Inc., finished. As part of this funding round, Walmart, which owns 85% of Flipkart, contributed $600 million to the business. Google's involvement as a minority investor was confirmed by Flipkart, however...

UK watchdogs fine Citigroup £61.6 mln - 05/24/2024

The Bank of England's Prudential Regulation Authority (PRA) imposed a £33.8 million fine on Citigroup Global Markets Limited. The regulatory body stated that the US bank's violations of trading and control systems occurred between April 2018 and May 2022, which is when the fine was assessed. Additionally, the American bank was fined £ 27.8 million by the British Financial Conduct Authority (FCA),...

Walmart more than triples quarterly net profit - 05/17/2024

The biggest retailer in the United States, Walmart Inc., reported a 6% gain in revenue and a more than threefold increase in net income in its first quarter of fiscal 2019. For the quarter that ended on April 30, Walmart reported net income of $5.1 billion, or $0.63 per share, as opposed to $1.67 billion, or $0.21 per share, for the same period the previous year. FactSet's survey of analysts...

Buffett's company reveals its $6.7 billion-investment target - 05/17/2024

The enigmatic business whose shares billionaire Warren Buffett's investment firm Berkshire Hathaway unveiled for $6.7 billion turned out to be insurance Chubb Ltd. According to CNBC, which cites Berkshire data that are available on the stocks and Exchange Commission (SEC) website, Berkshire has been raising its investment in Chubb for the past two quarters and currently holds 6.44% of the shares...

Anglo American rejects BHP's new merger proposal - 05/14/2024

BHP Group submitted a fresh merger proposal to Anglo American, which was once more turned down, the BHP press release reads. Anglo American's board of directors received an enhanced proposal from the group on May 7th, which valued the company at 34 billion pounds ($42.67 billion). Anglo American is being offered the deal by BHP in exchange for shares. Anglo American stockholders would receive...

Shell to sell refinery and petrochemical assets in Singapore to Chandra Asri JV and Glencore - 05/09/2024

A deal has been agreed by Shell Singapore Pte, a division of the British oil and gas corporation Shell, to sell refinery and petrochemical assets in Singapore to CAPGC Pte, a joint venture between Glencore Asian Holdings Pte and Chandra Asri Capital Pte. Shell announced in a press release that it would sell every part of Energy and Chemicals Park, including real estate and business agreements....

Investor group to buy electricity supplier Allete for $6.2 bln - 05/07/2024

Allete Inc., a generator of renewable energy in the United States, is being acquired by a group of investors led by the Canadian pension fund Canada Pension Plan Investment Board and the American investment firm Global Infrastructure Partners for approximately $6.2 billion, including debt, the company announced in a news release. Each share of Allete stock will be purchased by the consortium for...

M&A volume in global oil and gas may reach $150 bln by the end of 2024 - 05/07/2024

According to Rystad Energy analysts, the number of mergers and acquisitions (M&A) in the worldwide oil and gas business in the first quarter was the most in the previous five years, and agreements worth an additional $150 billion may be signed in the remaining months of 2024. Deal value since the year's start has topped $64 billion, which is 2.5 times greater than it was in the first quarter of...
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