The capitalization of the American manufacturer of electric cars Tesla has increased by $100 billion in a fortnight and exceeded $600 billion in anticipation of the inclusion of the issuer in the calculation of the U.S. broad market index S&P 500 on 21 December, according to the auction data. On Monday, the company's shares on the NASDAQ exchange rose by 7.13% to $641.76. As a result, the...

Italian luxury clothing manufacturer Moncler buys its competitor Stone Island. The deal will total €1.15 billion, Moncler announced. In the first phase, Moncler buys about 70% of Sportswear Company, which owns the Stone Island brand, from its principal owner and CEO, Carlo Rivetti (he owns 50%) and his family members (about 20%).  In the future, Moncler hopes to buy the remaining 30% from...

The payment operator MasterCard is reassessing its relationship with MindGeek, which owns the PornHub adult website. MasterCard informed Bloomberg of its decision after "The Children of PornHub" publication by the New York Times columnist Nicholas Kristof. The article tells stories of girls who unsuccessfully try to get intimate videos from PornHub removed. Videos in which the girls appeared were...

ExxonMobil has published its strategic development plan for the coming years. It envisages further cost reduction while gradually increasing investments in new promising projects. In order to achieve this goal, the company intends to abandon those projects which, in its opinion, are not able to bring substantial profits. The list of projects includes development of dry gas fields in the Rocky...

The Italian Competition Authority (AGCM) has fined Apple €10 million for "aggressive and misleading" commercial practices when selling various iPhone models, the watchdog said. The first claim against the American manufacturer concerns advertising about waterproof properties of a number of iPhone smartphones, according to which they could withstand "a depth of 1 to 4 meters depending on the...

The largest providers of business intelligence - S&P Global, an American media holding company, and IHS Markit, an UK agency - may merge in a $44 billion deal. US-based S&P Global may acquire IHS Markit, a UK-based provider of analytical reports and business software, for $44 billion, The Wall Street Journal reports with reference to interlocutors familiar with the deal negotiations. ...

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...