Category: Business

Diamond Industry in Crisis: De Beers Slashed Prices by 5%
4. 11. 2019 No Responses

Diamond Industry in Crisis: De Beers Slashed Prices by 5%

De Beers Jewelers, the world’s largest diamond miner, has slashed rough diamond prices by 5% as global markets remained oversupplied into the start of the holiday season. The entire industry is on the brink of a downturn amid weaker consumer...
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Exxon Mobil earnings drop 49% in the third quarter
1. 11. 2019 No Responses

Exxon Mobil earnings drop 49% in the third quarter

Exxon Mobil reported a 49% decline in third-quarter earnings on lower oil prices and higher costs. The company reported 75 cents in earnings and $65.05 billion in revenue, which did top analyst expectations. “We are making excellent progress on our...
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GE to lose $1.4 billion this year from Boeing 737 Max grounding
31. 10. 2019 No Responses

GE to lose $1.4 billion this year from Boeing 737 Max grounding

GE manufactures the LEAP engines used for Boeing’s 737 Max airplane, which has been grounded worldwide following two deadly crashes in the past year. “We still expect this year to be impacted to the tune of about negative $1.4 billion”...
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Fiat Chrysler in merger talks with French automaker Peugeot
30. 10. 2019 No Responses

Fiat Chrysler in merger talks with French automaker Peugeot

FCA – Fiat Chrysler and Peugeot owner PSA Groupe are in merger talks, the companies confirmed Wednesday. The companies issued separate, nearly identical statements, signifying a coordinated messaging strategy, with Italian-American automaker FCA addin...
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Boeing CEO Testify In Front Of Senate
29. 10. 2019 No Responses

Boeing CEO Testify In Front Of Senate

Dennis Muilenburg – CEO of Boeing grilled in front of Senate – “We Made Mistakes” Boeing’s CEO appeared before the Senate Commerce committee today to address the controversy surrounding the two fatal 737 Max crashes that took th...
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Verizon reports strong 3Q results propelled by wireless customer growth
26. 10. 2019 No Responses

Verizon reports strong 3Q results propelled by wireless customer growth

Highest third-quarter phone gross adds in five years, increased wireless net additions and EPS growth. Verizon Communications Inc. notched large gains in phone subscribers in the third quarter, aided by a revamp of its unlimited data plans that shaved about $...
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Gulfstream introduces the G700 as the new flagship of its business jet family
24. 10. 2019 No Responses

Gulfstream introduces the G700 as the new flagship of its business jet family

Gulfstream is now (again) gunning for bragging rights to the world’s biggest private jet, according to Bloomberg. Gulfstream’s G650 was unseated as the world’s largest luxury jet by Bombardier’s Global 7500 last year. But now, Gulfstre...
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Boeing Revenue Tumbles 20%
23. 10. 2019 No Responses

Boeing Revenue Tumbles 20%

Boeing Revenue Tumbles 20% As Cash Burn Soars Most In 9 Years; 787 Production Throttled.  One of the busiest days of Q3 earnings season is quickly turning into a nightmare for corporate America, as first CAT stunned markets by slashing...
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McKinsey: Nearly 60% of the world’s banks wouldn’t survive an economic downturn
22. 10. 2019 No Responses

McKinsey: Nearly 60% of the world’s banks wouldn’t survive an economic downturn

Nearly 60% of the world’s banks aren’t strong enough to survive a downturn, McKinsey & Company said in its latest global banking review. It also suggested several ways for them to become more resilient. Nearly 60% of the world’s banks ar...
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Asset Bubbles No Longer Work As A Cure For Growth
21. 10. 2019 No Responses

Asset Bubbles No Longer Work As A Cure For Growth

If there was one message that resonated from the IMF meetings, it was that what we are doing isn’t working. Acknowledging that fact is every bit as important as the forecasts of dour prospects for global growth and the risks of excess leverage. You...
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Sanofi recalls popular heartburn drug Zantac as FDA investigates probable carcinogen
18. 10. 2019 No Responses

Sanofi recalls popular heartburn drug Zantac as FDA investigates probable carcinogen

Sanofi said Friday it will recall the widely-used heartburn drug Zantac from stores in the United States and Canada as the drugmaker and Food and Drug Administration investigate a probable carcinogen detected in the drug. The FDA last month said it...
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Dennis Muilenburg Out as Boeing Chairman
16. 10. 2019 No Responses

Dennis Muilenburg Out as Boeing Chairman

Aviation Week & Space Technology “Person of The Year” Dennis Muilenburg Out as Boeing Chairman, Remains CEO. Because sheer madness has captured many airlines that had to ground a number of Boeing 737 MAX planes for an unknown period of time ...
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G7 Panics: “Global Stablecoins Pose Threat To Financial Stability”
14. 10. 2019 No Responses

G7 Panics: “Global Stablecoins Pose Threat To Financial Stability”

The G7 group of nations has reportedly drafted a report which says that “global stablecoins” pose a threat to the global financial system. According to the BBC on Oct. 13, a draft report from the G7 outlined the various risks associated with...
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Cannes Yachting Festival Management Decision Further Delayed
11. 10. 2019 No Responses

Cannes Yachting Festival Management Decision Further Delayed

The long-running legal dispute between the Fédération des Industries Nautique and show organiser Reed Exhibitions France will not be heard by the Paris Court of Appeals until December 2020 The three-year legal battle between the Fédération des Industries N...
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Vietnam & Mexico biggest winners from US-China trade war
9. 10. 2019 No Responses

Vietnam & Mexico biggest winners from US-China trade war

US imports from its largest supplier China have slumped by 12.5 percent due to the ongoing trade war. Meanwhile, Vietnam and Mexico have been filling this gap with massive import increases. According to the latest report by the US-based Census...
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