Daily Management Review
Business & Finance

Nissan ends first half of fiscal 2020 at a loss

Japanese carmaker Nissan reported a loss of 330 billion yen (approximately $3.1 billion) for the first half of the current fiscal year (April 1 - September 30, 2020) compared to the same period of the previous fiscal year. Nissan finished the first half of fiscal year 2019 with a profit of 65.4...

165 Firms Critical Of Google Writes To EU Antitrust Body To Take Action Against Google: Reuters

Alleging that the United States based search engine giant Google unfairly favours its own services on its web searches, a call on the antitrust enforcers European Union to take a tougher line against the US company was given by a group of 165 companies and industry bodies.   In addition to...

Alibaba sales hit $56.4B on Singles Day

Sales on Alibaba's electronic trading platforms have already exceeded 372.3 billion yuan (56.4 billion dollars) over the period of the world's largest global online sale in China, according to preliminary official figures. "Since midnight on 1 November, total turnover has exceeded 372.3 billion...

Huawei to sell Honor for $ 15.2B to dodge US sanctions

The deal, which will allow Honor to be exempted from American sanctions, is scheduled to be announced on 15 November. Chinese company Huawei is preparing to sell its mobile and computer equipment business under the Honor brand. Negotiations for the purchase of Honor are under way with a consortium...

Vans and Timberland owner buys streetwear brand Supreme for $ 2.1B

On Monday, VF Corp, an American company that includes shoe brands Vans and Timberland, announced the purchase of the renowned streetwear manufacturer Supreme. The deal was worth $2.1 billion. With several conditions met, including revenues of at least $500 million and adjusted earnings per share of...

Volkswagen buys US truck manufacturer Navistar for $3.7B

The Traton Group, a subsidiary of Volkswagen, which produces trucks, announced on Saturday the purchase of its American competitor, Navistar International. Traton, which already owns about 16.7% of Navistar, is buying the remaining 83.3% of the company for $3.7 billion, bringing the total value of...

Suspension Of Ant's IPO Could Cut Its Seize And Hit Its Value

According to analysts, the chances of getting a public listing for China’s Ant Group is only likely to be delayed instead of being destroyed by the sudden decision of Chinese regulators to suspend the record listing of the company, even though this move will hit the valuation and growth prospects...

Bayer Warns Of Higher Costs For Roundup Settlement While Taking A $10 Billion Writedown

Higher costs for legal suits related to claims around its weedkiller Roundup as well as impairments on agriculture businesses, much of it related to its Monsanto deal, which amounts to 9.25 billion euros ($10.82 billion) is a double blow for Bayer.   For the third quarter, the company...

Chinese Regulators Suspend Ant’s Record IPO Shocking Millions Of Retail Investors

Chinese share market regulators brought an abrupt stop to Ant group’s stock market debut, which would have been the largest ever in the world, which stunned the small retail and mom-and-pop investors who made investments in the company worth a record $3 trillion in which is equivalent to the annual...

Saudi Aramco's net profit falls by 1.8 times to $11.8B in Q3

The net profit of the world's largest oil company by production and reserves, Saudi Aramco, in the third quarter of 2020 amounted to $ 11.789 billion against $ 21.29 billion a year earlier, the company said. Thus, the decrease was 1.8 times. For nine months, profits fell by half - to $ 35 billion....
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