Companies & CEOs
Warren Buffet's Berkshire increases net profit by 20 times in 2020 - 02/25/2020
Net profit of Berkshire Hathaway, an investment firm owned by US billionaire Warren Buffet, jumped 20 times in 2019 to $ 81.4 billion from 4.021 billion in the previous year, the company said in its financial statements. The company associates this growth mainly with last year’s tax reform of US President Donald Trump. "Now Berkshire should reflect... the rise and fall in the value of shares in...
Groupon shares lose over 44% - 02/20/2020
Shares of the American coupons discount service Groupon Inc collapsed by more than 44%, to a record low of $ 1.70 during trading in the US on Wednesday. Thus, the papers displayed the most significant one-day sale since 2011 when the company held an IPO. This week, Groupon reported a 23% drop in revenue in the fourth quarter of last year compared to the same period of the previous year to $ 612.3...
Visa approves Coinbase as debit cards issuer - 02/20/2020
Coinbase, US cryptocurrency exchange, was granted the status of a full member of the system of Visa. For now, it is the only cryptocurrency company with this certification. Principal Member status allows issuing debit cards. Now, customers of Coinbase may spend their cryptocurrencies anywhere. Holders of Coinbase debit card (introduced in April 2019) can use their cards in 29 countries of...
Court stops dismissals in Petrobras - 02/19/2020
On Tuesday, the Brazilian Ninth Circuit Regional Labor Court suspended dismissals at a subsidiary of the Petrobras oil corporation, which triggered a three-week strike by the oil workers union. "The judge decided to suspend layoffs until March 6 during negotiations," the court said in a statement on Twitter. According to the court statement, for this period the local union is committed to end...
DP World delists from Dubai Nasdaq - 02/17/2020
One of the world's largest port operators - the emirate DP World - will delist its shares from Nasdaq Dubai, the company said. "DP World’s parent company, Port and Free Zone World, has offered to acquire a 19.55% stake in DP World, traded on Nasdaq Dubai, returning the company to private ownership," a DP World press release said. Each share of DP World will be purchased for $ 16.75, which is...
Swiss viagogo pays $4,05B for eBay's StubHub service - 02/14/2020
The world's largest online auction site, eBay, has completed the sale of its StubHub service to the Swiss viagogo ticketing platform for $ 4.05 billion, according to the company’s message. "eBay Inc .... today announced that it has completed the sale of StubHub to viagogo for $ 4.05 billion," the release said. The deal was announced last November. After closing the transaction, eBay expects net...
SoftBank loses nearly $2B because of failed investment - 02/13/2020
Following the third fiscal quarter’s results, the net profit of Japanese SoftBank fell by 13 times. It was almost completely destroyed by the losses of the company’s investment fund, which failed with the key projects, Uber and WeWork. Net profit of Japanese SoftBank in the third financial quarter of 2019 amounted to 55.04 billion yen ($ 501 million) against 698.29 billion yen for the same period...
Air Italy starts liquidation - 02/12/2020
Italy's second largest air carrier, Air Italy, announced start of liquidation; its flights will end on February 25. The company said the two owners of its shares, Qatar Airways and Alisarda, have decided to "hassle-free" liquidation and suspension of flights. "From February 11 to February 25, 2020 inclusive, all Air Italy flights will be operated by other carriers at the appointed time and on...
English Premier League to quit TV broadcasting - 02/12/2020
The English Premier League (EPL) is considering introducing a new scheme for selling media rights. The idea is to phase out contracts with television companies and switch to signal distribution through its own streaming service. According to estimates of the EPL, whose global audience is around 200 million households, the project will allow significantly increasing revenue from the implementation...
Geely and Volvo set to merge businesses - 02/11/2020
Swedish Volvo Cars AB and its parent organization, the Chinese Geely Automobile Holdings, have begun to explore the possibility of combining businesses and creating a global group that will accelerate the financial and technological interaction of the two structures, according to Volvo’s press release. The combined company will have access to the global capital market through Hong Kong. Listing...
