Companies & CEOs
UK's most expensive fintech startup Revolut triples spending in 2019 - 08/12/2020
The most expensive fintech startup in the UK, Revolut, spent three times more money in 2019 than a year earlier. This is partly due to the active expansion of the staff. At the same time, after the start of the pandemic, according to Wired, the company forced some employees to quit or agree to a pay cut. British fintech startup Revolut spent £107m ($140m) before taxes in 2019, the Financial Times...
Fortune Global 500 now includes more Chinese companies than American - 08/11/2020
China (along with Hong Kong) became the leader in the number of companies included in the latest edition of the Fortune Global 500 ranking, surpassing the United States. Although American Walmart still ranks first in the ranking based on last year's revenue, three Chinese companies follow suit. On Monday, the American magazine Fortune published updated Fortune Global 500, the annual ranking of...
Saudi Aramco's net profit falls by 51% to $23.2B - 08/10/2020
In the first half of the year, the world's largest oil company, Saudi Aramco, cut net profit by 51% to $ 23.2 billion due to low oil prices and demand, the firm said in a statement. In the first half of 2019, this figure was $ 46.9 billion. At the same time, only in the second quarter, net profit fell 4 times, to $6.6 billion. "Our results for the second quarter reflect the strong impact of...
Etihad loses $520M in Q2 2020 due to pandemic - 08/07/2020
The UAE's national carrier, Etihad Airways, which flies from the capital emirate of Abu Dhabi, lost more than half a billion dollars in the second quarter of 2020 due to the coronavirus pandemic, according to the company's financial report for the first half. “Losses for the second quarter of 2020 were $ 520 million, losses for the first half reached $ 758 million, which is $ 172 million more...
Online healthcare firms Teladoc and Livongo sign $18.5B merger - 08/06/2020
The American company Teladoc Health, which specializes in telemedicine and online medical services, bought its competitor Livongo Health. The deal amounted to $ 18.5 billion. The merger reflects the rise in popularity of online healthcare-related services during the COVID-19 pandemic, when many patients around the world were denied access to routine medical care. The shares of both companies have...
US authorities will check Kodak after $ 765 loan is approved - 08/05/2020
The US Securities and Exchange Commission (SEC) has launched an investigation into the situation of Eastman Kodak Co. and its loan worth $ 765 million, The Wall Street Journal reported, citing sources. According to the publication’s interlocutors, the check has just begun. The SEC is looking into how Kodak handled the disclosure of the loan, which began to surface on July 27. On news of a...
Apple asks UK retail landlords to cut rent in half - 08/04/2020
Apple has asked property owners renting out space for stores in the UK to cut their rent by 50%, The Sunday Times reported. Profitability of the company's stores makes landlords “desperate” to continue cooperation. Apple has told some landlords in the UK that it wants a 50% reduction in rental prices, The Sunday Times reports without specifying a source. In exchange, the company offers property...
DI, French leader of asbestos removal and decontamination - 08/03/2020
As environmental and anti-pollution standards tightened, in all countries across Europe and America, finding specialists who are able to address all projects has become more important than ever. If industrial and sanitary norms are not met, projects can come to a standstill or even require catastrophic deconstruction. In order to address this rising complexity, French leader DI has focused on all...
Microsoft confirms intention to buy stake in TikTok - 08/03/2020
Microsoft is considering acquiring a stake in the Chinese TikTok app. Earlier, the media reported about the company's interest with reference to sources. “Microsoft will move into negotiations with TikTok owner ByteDance in the next few weeks, and in any case will complete them by no later than September 15, 2020. Throughout this process, Microsoft looks forward to continuing dialogue with the US...
NBC reports sharp decline in ad revenue during COVID-19 pandemic - 08/03/2020
Cancellation of the sporting event and the postponement of the Tokyo Olympics, which was due to open in late July have had an extremely negative impact on the performance of the contract with the International Olympic Committee (IOC) for its broadcast on the US television company NBC. Its ad revenues for the second quarter of this year fell by almost a third. NBCUniversal reported the fall in...
