Companies & CEOs

The German Federal Antitrust Authority has announced the launch of two investigations into Google.

US energy companies Cabot Oil & Gas and Cimarex Energy, which specialise in shale oil and gas production, announced a merger.

The UK Competition and Markets Authority (CMA) has given final approval for the merger of UK telecoms operators Virgin Media and O2.

The European Commission has fined financial institutions UBS, UniCredit and Nomura a total of €371m for collusion in the European primary and secondary government bond markets.

International automotive alliance Stellantis (comprising Italian-American Fiat Chrysler Automobiles and French PSA Peugeot Citroen Group) and one of the world's largest electronics component manufacturers, Taiwanese Foxconn, announced a strategic partnership.

Munich prosecutors have suspected that a fintech start-up from Lithuania was involved in the theft of €100m of German payment service Wirecard. Jan Marsalek, Wirecard's absconding chief financial officer, received…

Irish airline Ryanair, Europe's largest low-cost carrier, ended the financial year with a net loss of €815 million, its worst result in its 35-year history, the company said in a…

From 2006 to date, Huawei has struck 70 deals in dozens of countries in Africa, Asia and Latin America to build cloud infrastructure and e-government systems. This is the data…

Chinese online retailer Alibaba posted a net loss of 7.7 billion yuan ($1.2 billion) in the fourth quarter ended at the end of March, compared with a net profit of…

The Italian antitrust regulator (AGCM) has fined Google €102m for abusing its dominant position.

Toyota Motor's net profit rose to $7.15 billion for the fourth quarter of its fiscal year ended March 31.

Japanese carmaker Mitsubishi Motors' net loss for fiscal year 2020-2021 ended March 31 rose 12 times year-on-year to 312.3 billion yen ($2.9 billion), the company said in its financial statements.

Japanese carmaker Nissan Motor has reported its results for the fourth quarter and full fiscal year 2020 (ended at the company on 31 March) and also gave a forecast for…

Malaysian state-owned investment fund 1Malaysia Development Berhad (1MDB) has sued German Deutsche Bank, US-based JPMorgan and UK-based Coutts in a court in Kuala Lumpur. This was reported by Reuters, citing…

Saudi Aramco, the world's largest oil company, posted a net profit of $21.7 billion in the first quarter of 2021, up 30% from the same period last year, the company…

Online broker Robinhood has collected a record $331M in the form of fees from market makers for the flow of orders on equity trades in Q1 2021. This was reported…

Buffett's holding company's cash stocks have exceeded $145bn, approaching a record. The investor billionaire has become more cautious about spending: Berkshire Hathaway's spending on buying back its own shares has…

The European Commission found that Apple has abused its dominant position in distributing music streaming apps through the App Store. The agency believes that the company was imposing rules on…

US telecommunications company Verizon Communications is considering the sale of media assets, including parts of Yahoo and AOL.

German carmaker Volkswagen has unveiled a plan to reduce its emissions and improve the overall sustainability of its business.

Huawei's sales in the first quarter of this year fell 16.5 percent from the same period in 2020 to 152.2 billion yuan ($23.5 billion).

Google's parent company, Alphabet, reported record sales in the first quarter of 2021. The company's sales rose to $55.31bn and total profits to nearly $18bn, up 162%.

Taxi aggregator Lyft has announced the sale of its unmanned car development division to a Toyota subsidiary for $550m. The service expects to break even after the deal closes, but…

US Apple plans to invest more than $430 billion in businesses in the US over the next five years and create 20,000 new jobs across the country, the company said…

The Turkish general prosecutor's office has launched an international search for the founder of the cryptocurrency exchange Thodex. According to local media reports, he fled the country, taking $2bn of…

Car maker Volkswagen will cut production volumes due to a global shortage of microchips, the Financial Times reported, citing the company's spokesman.

According to The Guardian, British car maker Jaguar Land Rover will halt production at two of its leading UK plants due to a shortage of microprocessors needed for in-car computers…

Netflix presented its financial report for the first quarter of 2021, showing that the streaming service's number of paid subscribers grew by 3.98 million in three months.

US-based Johnson & Johnson (J&J), the world's largest manufacturer of health products, posted a 6.9% year-on-year increase in net profit to $6.197 billion for the first quarter of 2021, the…

The Coca-Cola Company, the world's largest producer of soft drinks, intends to raise prices for its products because of growing raw material prices, which are pushing up production costs, CEO…

BP intends to abandon gas flaring at its fields in the Permian Basin in Texas and New Mexico, according to The Wall Street Journal. The company plans to completely stop…

Voice social network Clubhouse has closed a new round of fundraising that valued it at $4bn, led by Andrew Chen of venture capital firm Andreessen Horowitz with major new investors…

US mobile game and app developer AppLovin has raised $2bn in its IPO, with shares selling at $80, in the middle of an earlier price range of $75 to $85…

Net profit of Wells Fargo & Co, one of the largest US banking groups, jumped 7.3 times year-on-year to $4.742 billion in the first quarter of 2021, according to the…

The largest US cryptocurrency exchange, Coinbase, has gone public. After the listing, its capitalisation exceeded $100bn - more than the value of the New York Stock Exchange and Nasdaq combined.

Huawei has said it plans to invest $1bn this year to develop technology for electric vehicles and an autopilot system. The company claims its autopilot is "far better than that…

Alibaba fully accepts the punishment handed down by China's market regulator for unfair competition, the company said in a statement.

The average annual pay received by CEOs of the largest publicly traded corporations in the US rose 7% last year to $13.7m.

German carmaker Bayerische Motoren Werke AG (BMW) sold around 637,000 vehicles in the first quarter of 2021, up by a third from a year ago, the company said in a…

The Dutch investment fund Prosus, the largest shareholder in Chinese internet corporation Tencent, announced sale of shares in the company for a total of $14.7 billion.

Audio conferencing service Clubhouse is negotiating an investment round that could value the app at about $4 billion, sources told Bloomberg.

The Dutch government has agreed to reduce its stake in Air France-KLM in line with a deal between the company and the French government, according to a letter from Acting…

The US Supreme Court has ruled that Google did not infringe the copyright of another US company, Oracle. This decision ends a long-running legal battle between Google and Oracle over…

Pinterest is in talks to buy VSCO photo app, The New York Times has learned. The service, popular with zoomers, allows editing and sharing photos, with no likes, comments or…

One of the largest cryptocurrency trading platforms, US-based Coinbase Global, has announced a direct listing date on Nasdaq. The crypto exchange will be traded on the stock market from 14…

Saudi's Tadawul stock exchange has begun inviting banks to participate in its upcoming IPO. The head of the Arab world's largest stock exchange, with a capitalisation of $2.5 trillion, promised…

ByteDance, which owns the TikTok service, has been valued at $250 billion on the secondary market, Bloomberg learned. This is more than Exxon Mobil and Coca-Cola are worth.

British food delivery service Deliveroo, which intends to conduct an initial public offering on the London Stock Exchange in the first half of the year, has revised its offering price…

Goldman Sachs, one of the world's largest investment banks, notified regulators of its intention to issue debt instruments linked to the activities of the ARKK index fund, which also deals…

The Chinese technology company reported fourth-quarter and full-year earnings for 2020.