Companies & CEOs
General Electric to lay off nearly 13,000 employees - 05/05/2020
American General Electric Co. (GE) will reduce approximately 13 thousand employees of the division engaged in the production of aircraft engines. GE told employees on Monday that it plans to reduce 25% of its airline’s global staff in the coming months. The division, which employed about 52 thousand people at the end of 2019, produces engines for the Boeing Co. and Airbus SE. Its largest buyers...
Tesla extends unpaid leave for some employees - 05/04/2020
Employees of the American company Tesla, who were sent on unpaid leave due to the situation with the coronavirus, will stay home for at least one more week. Thus, normal operation of the carmaker has been postponed, CNBC reported with reference to an internal letter to employees. On March 24, the company suspended production at its plants in San Francisco and New York. According to the plan, the...
Buffett's company reports $ 50B loss - 05/04/2020
Berkshire Hathaway lost nearly $ 50 billion in the first quarter due to the coronavirus and stock market crash. Unlike the past financial crisis, Warren Buffett is in no hurry to buy cheaper stocks and continues to increase his cash stocks. Berkshire Hathaway holding company, led by US investor Warren Buffett (No. 4 in the global ranking of billionaires; net wealth $ 67.5 billion), reported a...
Pemex loses $ 23B in Q1 due to peso rate - 05/01/2020
Pemex, the Mexican oil and gas corporation, published the company's results for January-March 2020. The report shows that the net loss for this period amounted to $ 23.44 billion, of which almost $20 billion are “foreign exchange losses” resulting from the depreciation of the national currency and recalculation of balances of foreign currency debt. “In December 2019 (when calculating the amount...
Alphabet revenue goes up in Q1 amid COVID-19 pandemic - 04/30/2020
Google's parent company - Alphabet Inc. - increased its net profit and revenue due to the high demand for its services in a pandemic in the first quarter of 2020. At the same time, in March, the company's advertising revenue fell by 10%. The company warned that Q2 will also be difficult for business. In the reporting period, Alphabet's net income was $ 6.84 billion, or $ 9.87 per share, versus...
Juul to lay off a third of employees - 04/30/2020
Juul Labs plans to cut about a third of its staff for several reasons, including due to the fact that the manufacturer of electronic cigarettes is facing close attention from regulatory authorities, according to The Wall Street Journal (WSJ). Possible reductions, which will affect 800 to 950 people, are part of a broader restructuring plan and are not related to the coronavirus pandemic, WSJ...
Nissan claims a threat of net loss for the first time since 2009 - 04/29/2020
Japanese automaker Nissan Motor Co. may record a net loss for the past financial year for the first time in 11 years against the backdrop of the negative impact of the coronavirus pandemic, the company’s press release said. The company revised its forecast, released in February. The company expected to generate small profits based on the results of the financial year ended March 31, 2020. Now a...
Kia Motors net profit falls over 2.4 times in Q1 - 04/24/2020
Net profit of the South Korean automobile company Kia Motors in the first quarter of 2020 fell by 2.4 times - to 266 billion Korean won ($216 million), the company said.Net profit of the South Korean automobile company Kia Motors in the first quarter of 2020 fell by 2.4 times - to 266 billion Korean won ($216 million), the company said. At the same time, revenue for the quarter amounted to 14.567...
NASDAQ quarterly profit rises amid pandemic - 04/23/2020
The American company NASDAQ, which manages a stock exchange of the same name, as well as several European stock exchanges, including Stockholm and Copenhagen, published its first quarter results on Wednesday - its net profit grew by 23%, to $ 251 million. The growth is associated with the activation of exchange trading due to the coronavirus pandemic as the company receives the main income from...
Beyond Meat to sell veggie meat foods at Chinese Starbucks - 04/22/2020
Beyond Meat, a manufacturer of meat substitutes, will begin selling its products at Starbucks coffee chain in China from Wednesday. The company said its products, containing a "vegetable substitute for ground beef," will be available in more than 3.3 thousand coffee houses across the country. In total, there are over 4.3 thousand Starbucks Corp. coffee houses in China, writes The Wall Street...
