Category: Business

$28.8 Billion Worth Adidas Projects Major Losses in Revenue
12. 2. 2023 No Responses

$28.8 Billion Worth Adidas Projects Major Losses in Revenue

Adidas is suffering after bidding goodbye to Kanye West. The brand and the celebrity majorly uplifted each other with their Yeezy collaboration, which began in 2015. The partnership became super successful, making billions of dollars in revenue, which came to an...
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Adani fights back
11. 2. 2023 No Responses

Adani fights back

Ever since the Adani Enterprises Limited Follow-On Offer opened on January 27, the group has been on the backfoot post the Hindenburg report questioning it and its finances. The aftershocks of the report rattled the group and its impact was...
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The SEC Charges Kraken Over Staking
10. 2. 2023 No Responses

The SEC Charges Kraken Over Staking

The Securities and Exchange Commission announced its enforcement action against Kraken, forcing the crypto exchange to shut down its staking service in the U.S. and pay a $30 million fine. Kraken’s staking service offered its customers an opportunity to ear...
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Credit Suisse upgrades Lockheed Martin
9. 2. 2023 No Responses

Credit Suisse upgrades Lockheed Martin

Credit Suisse upgraded their outlook for Lockheed Martin from Underperform to Outperform. Analyst Price Forecast Suggests 4.56% Upside As of February 7, 2023, the average one-year price target for Lockheed Martin is $490.48. The forecasts range from a l...
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PACCAR is heavily dominated by institutional owners
8. 2. 2023 No Responses

PACCAR is heavily dominated by institutional owners

To get a sense of who is truly in control of PACCAR Inc it is important to understand the ownership structure of the business. The group holding the most number of shares in the company, around 66% to be precise,...
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Boeing to lay off about 2,000 white-collar jobs in finance and HR
7. 2. 2023 No Responses

Boeing to lay off about 2,000 white-collar jobs in finance and HR

At the end of last month, on the same day that Boeing touted plans to hire 10,000 people this year, senior leadership convened virtual meetings internally to break bad news to nonunion staff in human resources and finance. Despite the...
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Facebook and Instagram have threatened to restrict or ban Project Veritas from their platforms
5. 2. 2023 No Responses

Facebook and Instagram have threatened to restrict or ban Project Veritas from their platforms

Facebook and Instagram have threatened to restrict or ban Project Veritas from their platforms, both owned by Meta, after a journalist confronted a senior YouTube official about the removal of a video about Pfizer’s intention to mutate the COVID virus. ...
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The EU Needs More Diesel Fuel, But The Middle East Can’t Supply It All
3. 2. 2023 No Responses

The EU Needs More Diesel Fuel, But The Middle East Can’t Supply It All

The EU is banning—effective February 5—seaborne imports of Russian refined oil products, and it has to replace around 1 million barrels per day (bpd) of Russian fuel imports, including 600,000 bpd-650,000 bpd of diesel. In December, for example, Russia’s...
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Shell Reports Record Earnings of $39.9 billion for 2022
2. 2. 2023 No Responses

Shell Reports Record Earnings of $39.9 billion for 2022

Shell just reported adjusted earnings of $39.9 billion for 2022, double the earnings from 2021, becoming the latest Big Oil firm to deliver record profits for last year. Shell’s adjusted earnings doubled to $39.9 billion in 2022 from $19.3 billion in 2021,...
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Lebanon to devalue currency by 90% on Feb. 1
31. 1. 2023 No Responses

Lebanon to devalue currency by 90% on Feb. 1

Lebanon will adopt a new official exchange rate of 15,000 Lebanese pounds per US dollar on Feb. 1, central bank governor Riad Salameh said, marking a 90% devaluation from its current official rate that has remained unchanged for 25 years....
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Hedge Funds Are Record Short Bonds
30. 1. 2023 No Responses

Hedge Funds Are Record Short Bonds

  2023 started with a buying-panic in bonds (approaching their best start to a year in over 30 years at one point) as confidence grew about The Fed’s terminal rate (not as high as some feared) and a soft landing...
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Qatar Investment Authority doubles stake in Credit Suisse
29. 1. 2023 No Responses

Qatar Investment Authority doubles stake in Credit Suisse

The Qatar Investment Authority (QIA) now owns 6.8% of Credit Suisse’s shares, second only to the 9.9% stake purchased by the Saudi National Bank last year as part of a $4.2 billion capital raise. Combined with the 3.15% owned by...
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28. 1. 2023 No Responses

Chevron (CVX) posted mixed fourth-quarter results early Friday, missing on earnings views while topping revenue estimates. The energy giant reported record profits and cash flow for 2022, on top of its earlier announcement launching a massive $75 billion share...
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Toyota’s CEO To Step Down As New Chief Will Remodel Automaker
27. 1. 2023 No Responses

Toyota’s CEO To Step Down As New Chief Will Remodel Automaker

Akio Toyoda, the CEO of Toyota Motor Corporation and grandson of the company’s founder, is stepping down after leading the world’s largest automaker for 14 years, according to Nikkei Asia. Chief Branding Officer Koji Sato will replace Akio Toyoda ...
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Australia Procures UH-60M Black Hawk Helicopters, Replacing MRH-90 Taipan
26. 1. 2023 No Responses

Australia Procures UH-60M Black Hawk Helicopters, Replacing MRH-90 Taipan

The acquisition will be made as part of the Project LAND 4507-1 of the Australian Army, and would be done through US Foreign Military Sales (US FMS) program. The deliveries of the Black Hawk helicopters are expected to start later...
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