Companies & CEOs
IMF: Global economic recovery is threatened - 07/29/2021
Countries around the world have been split in two because of unequal access to coronavirus vaccines, the International Monetary Fund (IMF) pointed out in its World Economic Outlook on 27 July. Some states will continue to face outbreaks and high mortality. Others can be counted on to continue to normalise, which is true of almost all developed economies. However, recovery has also been threatened...
Apple's profits rise to $21.7B in Q2 - 07/28/2021
Apple earned $21.7 billion in profits for the quarter ended June. It was the best result in the company's 45-year history among similar periods in previous years. Apple earned $21.7 billion in profits in the quarter ended June. This is the best quarter among similar periods of previous years in the 45-year history of the technology company, reports The Wall Street Journal. On a per share...
EdTech companies in China plummet after new regulations - 07/27/2021
Shares in Chinese education technology (EdTech) companies plummeted after the country's authorities announced new regulations for the sector. Thus, quotations of Hong Kong market leader New Oriental Education & Technology fell by 66% in two days. Koolearn Technology lost almost 50% of its market capitalisation and Scholar Education shares plummeted 57.7%. According to new requirements...
iHerb files for IPO - 07/23/2021
Marketplace iHerb, which specialises in selling health products, vitamins and mineral supplements, has filed for an IPO with the US Securities and Exchange Commission. The company has not yet determined how many shares it will put up for sale and what the offering price will be. "A draft registration statement on Form S-1 has been submitted to the US Securities and Exchange Commission (SEC)...
Twitter reports fastest revenue growth since 2014 - 07/23/2021
Twitter's revenue grew 74% year-on-year in the quarter, the fastest growth since 2014. The company noted a significant increase in advertiser interest in the social network. Twitter posted financial results for the second quarter of 2021. The company reported its fastest revenue growth since 2014 and noted an increase in demand from advertisers, CNBC told, citing a letter from the social network...
Coca-Cola reports profit growth in the first half of the year - 07/22/2021
The Coca-Cola Company, the world's largest soft drink maker, saw its net profit attributable to shareholders rise 7% year-on-year to $4.886 billion in the first half of 2021 (ended 2 July), the company said in a statement. Diluted earnings per share for the half year were $1.13, compared with $1.05 a year earlier. Coca-Cola's operating revenue rose 22% year on year to $19.149 billion. Net...
Baker Hughes cuts loss by 20pp in first half of 2021 - 07/22/2021
US oil services company Baker Hughes posted a net loss attributable to shareholders of $520 million in the first half of the year, down 20 times from a year earlier, the company said. Diluted loss per share was $0.67, compared with a loss of $15.93 per share a year earlier. The company's revenues fell 2.3 per cent from the same period in 2020, to $9.924 billion. The company's second-quarter net...
Mastercard supposedly plans to close Maestro brand - 07/21/2021
The Mastercard payment system has started discussing the closure of the Maestro brand. This is a global closure of the brand, which has been owned by the company for more than 30 years. Market players confirm that talks about it have been going on for several years. The reason behind the closure is that it is too costly to maintain two brands at the same time, and Maestro does not bring in much...
Chinese billionaires are stepping up charitable acts - 07/20/2021
Founders of China's biggest IT companies have stepped up their philanthropic activities amid growing scrutiny from Beijing. They are donating billions in shares of their companies and millions of their own money. Chinese billionaire founders of the biggest technology companies are stepping up their philanthropic efforts amid growing scrutiny from Beijing regulators, Bloomberg reports. For...
Intel to buy chipmaker GlobalFoundries for $30B - 07/19/2021
Intel is in talks to acquire one of the largest specialist chipmakers, GlobalFoundries. The chipmaker is owned by Mubadala Investment, a US-based UAE investment fund. The $30bn deal could be the largest acquisition in Intel's history. Intel Corp. is pondering buying one of the largest chipmakers GlobalFoundries for about $30 billion, sources familiar with the corporation's plans told The Wall...
