Companies & CEOs

US company Zillow, which allows users to sell properties online, will stop buying houses for resale on its own due to unpredictable prices.

Standard Chartered made $996 million in profit before taxes in the third quarter.

Norwegian oil and gas group Equinor (formerly Statoil), together with partners PGNiG Upstream Norway and Longboat Energy Norway, has successfully drilled an exploration well in the Norwegian Sea, according to…

Saudi Aramco has overtaken Apple to become the world's most profitable company. Revenues at one of the largest oil exporters have more than doubled following the rise in oil prices…

2021 fourth quarter revenue of Apple rose 29% year-on-year to a record $83.3 billion, with net income for the period climbing to $20.5 billion, according to its filings. Diluted earnings…

Chinese authorities have demanded that Evergrande founder Xu Jiaying direct his own savings to cover his company's debts. This was reported by Bloomberg, citing its sources.

General Motors (GM), the largest US automaker, presented its financial statements for the third quarter.

Deutsche Bank, Germany's largest bank, saw its net profit attributable to shareholders rise almost 30-fold between January and September, to €1.794 billion, after a profit of €62 million a year…

On Monday, US car rental chain Hertz announced that it had agreed with Tesla to supply 100,000 of its electric cars.

Volvo Cars has announced an adjustment to the terms of its listing on the Stockholm stock exchange. The Swedish car company now intends to conduct an initial public offering (IPO)…

Big tobacco company British American Tobacco (BAT) has decided to try investing in nicotine-free products. According to Bloomberg, BAT has invested about $3.5 million in US health drinks startup Tru.

U.S. electric car maker Tesla reported third-quarter earnings.

Alibaba shares in Hong Kong jumped 8.8 per cent after the media reported on founder Jack Ma's first overseas trip of the year. According to Hong Kong's East Week, Jack…

Netflix has valued the South Korean series Squid Game at more than $891 million, Bloomberg reported, citing a company document. At least the beginning of Squid Game was watched by…

Shares of Virgin Galactic sank 18.1 per cent after the firm said that the first suborbital commercial flight would not take place for another year.

IKEA announced shortages in its shops until mid-2022. Crisis in supplies from China is forcing the company to focus on sales of only the most popular items.

US investment company Blackrock's net profit for the first three quarters rose 26 per cent year-on-year to $4.258 billion, the company said in a statement.

Binance, the world's largest cryptocurrency exchange by trading volume, announced on Wednesday that it will stop trading in RMB on its C2C (customer-to-customer) platform from 31 December, according to a…

Saudi oil and gas company Saudi Aramco is considering an initial public offering (IPO) of its oil retail unit, sources told Bloomberg.

A California state trial court has ordered Tesla to pay $137m to its former employee Owen Diaz, who claimed he was subjected to racist and discriminatory treatment at work.

GlobalFoundries, the third-largest microchip maker by volume, has filed documents ahead of its initial public offering (IPO) with the US Securities and Exchange Commission (SEC).

Representatives of the law firm conducting the audit into China's possible over-reporting in the World Bank's Doing Business rankings have met with the board of directors of the International Monetary…

US startup Rivian has reported a $1 billion loss for the first half of the year before going public, Bloomberg reports.

US pharmaceutical company Merck has announced acquisition of its competitor Acceleron Pharma.

The Lego Group reported strong growth in its financial results in the first half of the year. Net income rose 140% to more than $990 million, operating income rose 104%…

Video game developer Activision Blizzard said it had reached an agreement with the US Equal Employment Opportunity Commission (EEOC) over complaints of sexual harassment, wage inequality and other corporate culture…

Chinese Huawei CFO Meng Wanzhou has flown home from Canada after being released from custody, local media reported.

China's Evergrande, which is on the verge of bankruptcy, has promised to pay $35.9m on bonds on 23 September.

The US Securities and Exchange Commission (SEC) has asked video game developer Activision Blizzard, its CEO Bobby Kotick and other executives for information related to allegations of sexual harassment and…

The co-working network WeWork has announced its intention to start trading shares in October this year. The company is going public two years after canceling its IPO with a valuation…

U.S.-based financial software developer Intuit has reached a deal with e-mail distribution service Mailchimp, according to a press release from the buyer. Mailchimp will be acquired for $12 billion.

Billionaire Mark Cuban has invested in a developer of artificial meat for animals. During the pandemic, the percentage of American families with at least one pet rose to a record…

GameStop reported a net loss of $61.6 million for the quarter ended July 31. Last year, the video game retailer posted a loss nearly twice as large. The company intends…

One of the world's largest credit card companies, Mastercard, is buying European open banking provider Aiia, according to Mastercard’s press release.

Ryanair, which is Boeing's largest customer outside the U.S., announced its withdrawal from negotiations to buy a new large batch of Boeing 737 MAX. The Irish company, Europe's largest low-cost…

Beijing may buy a "golden share" of the cab service Didi, Bloomberg learned. This would give the state control of the company, which held an IPO in New York in…

The Irish watchdog fined WhatsApp a record €225 million for violating EU data protection rules. The messenger was accused of insufficiently informing users about the collection and use of their…

German media concern Axel Springer announced purchase of the American publication Politico from its founder Robert Allbritton.

Two major airlines announced introduction of mandatory vaccinations for their employees. Lufthansa will limit the requirement to crews working on flights, while Delta Air Lines is ready to charge additional…

Facebook has reached out to academics and experts over plans to create an advisory body for elections around the world.

The number of applications for new companies in the U.S. has risen to a record high after decades of declining entrepreneurial activity.

China has announced the need to fight "excessive income", Chinese President Xi Jinping said during a meeting on financial and economic affairs.

Net profit of Carlsberg Group, one of the world's leading beer producers, attributable to shareholders increased by 6% in annual terms in the first half of 2021 and reached 3.027…

Australian company BHP Group - the largest mining company in the world - announced a merger of its oil and gas division with another Australian company Woodside Petroleum.

The largest oil producer Saudi Aramco plans to buy shares of Reliance Industries holding owned by India's richest man Mukesh Ambani, Bloomberg reports referring to its sources. Reliance is also…

Head of the Egyptian state company announced plans to begin preparations for an IPO, which could become the largest in the history of the country. The company was created to…

Reddit said it intends to hold another round of financing in the near future.

Cryptocurrency exchange BitMex, one of the world's largest crypto derivatives trading platforms, said it will pay a $100 million fine to U.S. regulators.

Profits at Saudi oil giant Saudi Aramco soared nearly 300 percent in the second quarter of this year. The company said the easing of coronavirus restrictions, vaccinations, incentives and a…

Head of Japanese telecommunications company Softbank, which is one of the world's largest investors in technology startups, said that the company will slow down with new investments in China amid…