Daily Management Review
Business & Finance

HSBC And StanChart Draw Criticism Over Supporting China’s Hong Kong Security Law

The backing of imposition of China’s national security law for Hong Kong by Beijing by HSBC and Standard Chartered was severely criticized by senior British politicians. The stance taken by the two banks is in conflict with the British government’s opposition to recent strategy of China about the...

Toshiba reports $1,05B net loss in 2019-2020

Net loss of the Japanese electronics giant Toshiba Corporation for the fiscal year 2019-2020 (ended March 31) amounted to 114.6 billion yen ($ 1.05 billion) against a profit of 1.013 trillion yen ($ 9.3 billion) a year earlier, according to the company’s reporting. The loss per share was 236.39 yen...

Volkswagen closes $ 2.6B deal with self-driving technology platform

German automaker Volkswagen AG closed a $ 2.6 billion deal with Argo Al, an American manufacturer of unmanned vehicle systems. Under the terms of the agreement concluded in July 2019, the European headquarters of Argo will be created on the basis of the VW unmanned vehicle development unit in...

Coronavirus Pandemic Forces Salesforce To Slash Annual Sales Estimates

The coronavirus pandemic prompted the cloud-based business software maker Salesforce.com Inc to allow clients to defer payments and provided one time commissions to its sales team – all of which forced the company to slash its forecasts for revenue and profit for the entire year.   The share...

It’s ‘Second Christmas’ For UPS

Shipping network sees delivery spike as online sales pick up amid lockdown, inevitable raising the cost at UPS. The term “second Christmas” seem to stick to “United Parcel Service Inc” during the COVID-19 pandemic as the “U.S. e-commerce companies” have seen a surge in the surcharges while the...

Southwest Airlines well positioned for post-coronavirus low-airfare scenario: CEO

Southwest Airlines Co’s CEO sees the company’s “low-cost philosophy, strategy and structure” serving them “very well”. In a statement, Gary Kelly, the Chief Executive Officer of Southwest Airlines Co stated, he expects a “brutal low-fare” environment in the U.S. aviation sector once...

Travel Disruption Worries American Business In China

Thousands of officials working for American business in China are stuck outside the country. The American businesses that are in China are most worried about the disruption of the travel industry that has taken place across the globe for many are now slashing bonus and compensation figures as one...

Twitter Gets ‘An Invitation To Move To Germany’

Amid shut down threats from the U.S. President, Germany has opened doors for Twitter. Germany will be open for Twitter, in case the U.S. President decides to act on his threats of closing it down, reports Reuters. President Trump has threatened to shut down the California-based company after it...

Austrian Vaccine Maker To Be Acquired By Merck In Its Race To A Covid-19 Vaccine

Ever since the outbreak of the novel coronavirus pandemic and the race to find out a vaccine or a cure for the disease caused by the virus called Covid-19, Merck & Co Inc has more or less remained on the sidelines.   But bow the company is acquiring Austrian vaccine maker Themis...

HP Inc's net profit falls by 9% in the first half of 2019-2020

Net income of HP Inc. amounted to $ 1.442 billion according to the results of the first six months of the 2019-2020 financial year ending April 30. This is 9% lower compared to the same period of the previous financial year, the company reports. Diluted earnings per share in the reporting period...
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