Daily Management Review
Business & Finance

Chevron to leave British part of North Sea after over 55 years in business

According to the company’s statement, U.S. Chevron Corp. will sell its remaining oil and gas assets in the British portion of the North Sea, where it has been active for over 55 years, as reported by the Financial Times. The choice was made after Chevron's worldwide portfolio was examined to find...

Meme Stocks, Whether You Like Them Or Not, Are Back

Meme stocks are surging once more, thrilling supporters, annoying critics, and demonstrating to Wall Street that the social media powerhouse responsible for the incredible 2021 GameStop rise is still going strong.   Reigning supreme once more, the US video game store has surged 340% in the...

UK authorities cut stake in NatWest bank below 27 per cent

The United Kingdom government has lowered its ownership position in NatWest, the old Royal Bank of Scotland, from 27.93% to 26.95%. Currently, the state owns 9.4 billion shares. According to MarketWatch, its estimated worth is 30 billion pounds ($37.6 billion) based on Friday's closing quotes....

Tesla to invest over $500 million to expand its network of EV fast charging stations

According to the company’s Chief Executive Officer Elon Musk, Tesla Inc. would spend more than $500 million this year to increase the number of fast-charging stations for electric vehicles in its network. Tesla plans to set up "thousands of new charging stations," according to Elon Musk’s post on...

Microsoft to open $3.3 billion data center in Wisconsin

Microsoft is set to open a $3.3 billion data center in Wisconsin, where Foxconn had planned to construct a $10 billion facility. U.S. President Joe Biden made the announcement during his visit to Wisconsin, according to Reuters, citing a White House statement. Microsoft will create a $3.3 billion...

South Korea to provide $7 bln to local producers of electric cars batteries

South Korea's Ministry of Trade, Industry, and Energy announced that the nation plans to give local producers of electric car batteries 9.7 trillion won ($7.1 billion) in financial support. The goal of the move is to lessen reliance on China and establish a new supply chain that will be more...

Bankrupt crypto exchange FTX will refund money to almost all customers

According to court documents cited by MarketWatch, the American cryptocurrency exchange FTX, which filed for bankruptcy in 2022, will reimburse nearly all of its customers for their money. FTX owes creditors approximately $11.2 billion; the debt can be paid off with between $14.6 and $16.3 billion....

India Intensifies Its Scrutiny Of Spices By Examining All Producers Nationally.

As international authorities look into contamination concerns with two well-known local brands, India's food safety agency said on Thursday that it has ordered nationwide testing and inspections at all enterprises creating spice mixes. This action broadened the crackdown on the industry.  ...

L'Occitane will buy back its shares for $1.8 bln and leave stock exchange

The Hong Kong Stock Exchange-traded French cosmetics giant L'Occitane is set to go private in jurisdictions throughout the West, writes Reuters. L'Occitane is anticipated to repurchase its shares at HK$34 (now worth $4.35) a share. That is a 30.8 percent increase over the shares' closing price of...

Blackstone buys Hipgnosis for $1.57B

US investment firm Blackstone has reached an agreement to purchase British company Hipgnosis Songs Fund. Hipgnosis owns song rights to artists like Shakira, Leonard Cohen, and Red Hot Chili Peppers, for 1.26 billion pounds ($1.57 billion).  The company board recommended that shareholders...
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