Companies & CEOs
Toyota halts a number of lines at plants in Japan again - 01/25/2022
Toyota, one of Japan's largest carmakers, has once again announced the suspension of production at 19 lines in 11 plants inside the country due to the coronavirus, as well as a partial shortage of components. According to the company’s press release, operations will be halted on 25 and 26 January. "We are notifying you of an additional suspension of production lines at the plants in January due...
Halliburton reports net profit for 2021 - 01/25/2022
US oilfield services company Halliburton Inc. posted a net profit of $1.469 billion last year, following a loss of $2.942 billion a year earlier, the company said. Net income attributable to the parent company was $1.457 billion, compared with a loss of $2.945 billion a year ago. Net income per common share for the period was $1.63 after a loss of $3.34 a year earlier. The company posted revenues...
Peloton to suspend production due to lower demand - 01/24/2022
According to CNBC, Peloton will halt production of exercise bikes and treadmills for two months in February and March, as evidenced from internal documents of the company. Peloton cited poor demand and fierce competition as reasons for its decision. Until June, the company has halted production of an enhanced version of its Bike+ fitness equipment. Peloton will also stop producing the Tread+...
China's Sinopec fixes terms for developing Mansouria oilfield in Iraq - 01/21/2022
Iraq's State Oil Marketing Organization (SOMO) and China's Sinopec have initialed an agreement to jointly develop the Mansouria gas field with a planned production rate of 300 million cubic feet per day (about 8.5 million cubic metres), the Iraqi Oil Ministry said on Thursday. The Mansuriya field is located in the Diyala province in northeastern Iraq and has gas reserves of around 4.5 trillion...
P&G's net profit rises in the first half of the year - 01/20/2022
U.S. Procter & Gamble (P&G), one of the global leaders in consumer products, posted a 2.1% year-on-year increase to $8.368 billion in net profit for the first half of fiscal year 2021-2022, ending Dec. 31, according to the company's financial statements. P&G's net profit for the second quarter of the fiscal increased 9% year on year to $4.242 billion, while profit attributable to...
Emirates to cut number of flights to US due to 5G rollout - 01/19/2022
Emirates airline Emirates has said it will reduce the number of flights to the US due to the deployment of 5G cellular network infrastructure near a number of US airports. "Emirates will suspend flights to the following US destinations from 19 January 2022 until further notice," the carrier said in a statement. According to the text, the decision is taken due to "concerns related to the planned...
Over 70 global brands call for a pact to fight plastic pollution - 01/18/2022
Big brands including Pepsico, Coca-Cola, Walmart, Unilever, Nestle and others have called for a global pact to fight plastic pollution. More than 70 multinational companies have called for a global agreement to fight plastic pollution. Among the signatories to the joint statement are Coca-Cola and Pepsico, Unilever and Nestle, retail chain Walmart and French bank BNP Paribas, reports...
Global passenger air travel falls back to pre-crisis levels - 01/13/2022
Global air passenger traffic in November declined 47% from its pre-crisis (November 2019) level, following an October decline of 49%, according to the International Air Transport Association (IATA)’s press release. Meanwhile, global air passenger traffic was up 78.8% compared to November 2020, with growth slowing to 1.7% by October 2021 after 7.9% a month earlier. And international air passenger...
Boeing surpasses Airbus in aircraft orders in 2021 - 01/12/2022
The US-based Boeing Co., one of the world's largest manufacturers of aircraft, space and military equipment, has received orders for 909 aircraft in 2021, a 17.9 percent increase over Europe's Airbus, according to the US company release. Airbus said that its total orders for 2021 stood at 771 aircraft. Boeing's orders in December totalled 80 aircraft, almost a quarter less than in November....
WSJ: Omicron now makes it difficult for US companies to celebrate IPOs - 01/11/2022
The spread of the omicron strain in the US has forced upcoming companies to rethink their plans. Some of them are refusing to celebrate their debut widely, while others are postponing their IPOs altogether, the WSJ says. The rapid spread of the Omicron strain in the United States is complicating the interaction with stock exchanges for companies planning to launch IPOs earlier this year, bankers...
