Companies & CEOs
Brazilian oil and gas giant Petrobras reports profits - 05/06/2022
Brazilian oil and gas giant Petrobras posted a net profit attributable to company shareholders of $8.648 billion in the first three months of 2022, a 43-fold increase on the previous year, the company said. Revenues in the first three months of the year reached $27.189 billion, 1.7 times higher year on year. Adjusted EBITDA rose 1.7 times to $14.961 billion. The company's total debt was $40.072...
Musk fetches $7.14B from investors to buy Twitter - 05/06/2022
Elon Musk has received $7.14 billion in funding to buy Twitter from a group of investors including the largest cryptocurrency exchange Binance, Qatar Holding, Tesla board member Larry Ellison and Saudi Prince Al Waleed bin Talal Al Saud, according to the Securities and Exchange Commission (SEC). Twitter, Inc. had earlier announced an agreement with Musk to buy the company for $44 billion. In...
Exxon Mobil sells Exxon Mobil Exploration and Production Romania - 05/04/2022
Exxon Mobil has reached an agreement to sell its Romanian subsidiary Exxon Mobil Exploration and Production Romania to local company Romgaz for more than $1 billion, according to a press release from the US oil and gas giant. "The agreement includes all shares in Exxon Mobil Exploration and Production Romania, as well as an interest in subsoil area XIX Neptun offshore Romania," the US company...
EU accuses Apple of violating antitrust laws over payment service - 05/03/2022
The EU accused Apple of abusing its dominant position in the market because of the payment service Apple Pay. The European Union has filed its objections to Apple for possible violation of antitrust laws: the watchdog believes that the company has abused its dominant position in the field of mobile payments. Apple is restricting access of the third-party developers to the NFC technology,...
Credit Suisse sued for concealing risks related to Russia - 05/03/2022
Investors sued Credit Suisse. The bank and its managers are accused of failing to disclose all risks from business related to the sanctioned Russian billionaires. A group of individual investors and organizations filed a class action lawsuit against Swiss bank Credit Suisse and some of its managers, accusing them of violating securities disclosure laws, law firm Pomerantz said. The suit was filed...
Abu Dhabi national oil company buys 25% of Austrian Borealis - 05/02/2022
According to Bloomberg, the Abu Dhabi National Oil Business (ADNOC) has purchased a 25% share in the Austrian chemical company Borealis AG from the Emirati investment group Mubadala Investment. The deal's financial specifics aren't known. This purchase is part of a larger UAE initiative to attract foreign investment and technology, as well as development of new industries and manufacturing. ADNOC...
Boeing's net loss doubles since the start of 2022 - 04/28/2022
Boeing Co., based in the United States, one of the world's major producers of aircraft, spacecraft, and military equipment, reported a net loss of $1.242 billion in the third quarter, more than double its loss a year ago, according to corporate data. Experts expected a loss of $0.19, diluted loss per share was $2.06 versus $0.92 for January-March 2021. Adjusted loss per share was $2.75. At...
General Electric's net loss narrows almost fivefold - 04/27/2022
General Electric Co. (GE), a diversified technology firm based in the United States, reported a roughly five-fold drop in first-quarter loss, according to the company's financial records. For the period, the diluted loss per share was $0.99, compared to $2.61 a year ago. The period's revenue was $17.04 billion, down marginally from $17.071 billion the previous year. Analysts expected a $16.9...
Google owner announces $70B share buyback in 2022 - 04/27/2022
The board of directors of Alphabet, the parent company of Google, has approved a $70 billion buyback from investors. According to CNBC, Alphabet, Google's parent company, stated that its board of directors has approved a $70 billion share repurchase from investors, marking a substantial acceleration in the firm's aim to return investment to shareholders through share buybacks. When deciding on...
HSBC's net profit declines in Q1 - 04/26/2022
According to the United Kingdom and Hong Kong-based HSBC Holdings plc, the bank saw its first-quarter net profit drop 26.8% to $3.443 billion from since 2021. Diluted earnings per share were $0.14, down from $0.19 in January-March previous year. The banking group's revenue declined 4% to $12.464 billion over the period. Net interest income increased 7.4% year over year to $6.997 billion. Profit...
