HSBC managers are considering discontinuing retail services in the US, the Financial Times reports citing sources at the bank. This decision may be made due to the bank's weak financial performance in North America. The plan for phasing out retail services in the US may be presented to the bank's Management Board in the coming weeks. The management of the bank believes that instead of continuing...

Walt Disney intends to downsize 32,000 employees during the first half of 2021. This is data from a document filed by the company with the US Securities and Exchange Commission (SEC). As a result, the company is going to lay off more employees than previously planned: in September, Disney was to dismiss 28,000 employees. The COVID-19 pandemic hit Disney pretty hard, and a few weeks ago the...

The largest American publishing house Penguin Random House is buying its competitor Simon & Schuster from ViacomCBS media corporation for $2.2 billion. This consolidates the American publishing industry even more: the already largest player on the market is merging with the third largest publishing house in the country. Information that the parties are close to an agreement appeared...

If negotiations between Salesforce and Slack Technologies are successful, the purchase of a corporate messenger worth approximately $17 billion will become the largest acquisition in the history of the cloud CRM system manufacturer. Salesforce, a business software company, may soon conclude a deal to purchase Slack Technologies, the main product of which is the corporate messenger Slack. ...

Chinese technology corporation Xiaomi presented its third quarter financial statements. The company's revenue grew by 34.5% to 72.2 billion yuan ($11 billion). This is the most significant quarterly growth in the company's revenue in the last two years. Xiaomi's adjusted net profit increased by 19% to 4.1 billion yuan ($623 million). Xiaomi's good results were helped, among other things, by the...

German oil and gas company Wintershall Dea recorded a net loss of €748 million in January-September 2020, the company said. The company compared this figure with its first financial results for May-December 2019 after the merger of the assets of Wintershall and Dea into a single structure; during this period it recorded a net profit of €315 million. At the same time, the adjusted net profit of...

The U.S. aviation watchdog approved the operation of the Boeing 737 MAX, which was banned for 20 months - the longest period in the country's history. The aircraft will be serviced and the pilots will receive additional training before they start operating. The first flight after the ban is scheduled for 29 December. However, regulators from Canada, Brazil and Europe, who had previously taken...

One of the largest and oldest retailers of the Russian segment of the Internet, Ozon, is going to raise up to $1 billion in an IPO at the US NASDAQ amidst tremendous investor interest. Value of the entire company could reach $5.6 billion, the Financial Times learned. Russia's oldest online retailer Ozon plans to raise $750 million to $1 billion in an IPO on the NASDAQ exchange, and the valuation...

Walmart, which operates the largest US retail chain, has announced the sale of a majority stake in Japan's Seiyu supermarket chain. Walmart sells 85% of the company's shares for 172.5 billion yen ($1.6 billion) to the U.S. investment fund KKR (which will hold a 65% stake in Seiyu) and Japanese online retailer Rakuten (which will hold a 20% stake). Walmart retains a 15% stake in Seiyu. The chain...