Daily Management Review
Business & Finance

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....

US Stonepeak buys cable TV provider Astound for $8.1B

Investment firm Stonepeak Infrastructure Partners announced purchase of the American cable operator Astound Broadband. The transaction is valued at $8.1 billion, including the operator's debt. The deal will be the largest transaction on the market in the last five months and the largest purchase...

Amazon Dispute Order Not Binding On Company, Says India’s Future Retail

An order by Singapore’s trade arbitrator given in relation to a dispute between Amazon.com and India's Future Retail Ltd (FRL) given against the later, is not enforceable under Indian law and therefore is not binding on the company, the Future Group said on Sunday.   A deal with Reliance...

FT: Huawei to start producing its own microchips

Huawei wants to start producing its own microchips so that it is no longer dependent on American technology, reports The Financial Times this with reference to its own sources. The Chinese manufacturer under US sanctions wants to start producing microchips in Shanghai. The plant is expected to be...

Wall Street analysts warn of turbulence in financial markets ahead of US presidential elections

Wall Street analysts warn of turbulence in financial markets ahead of the US presidential election. However, they are not sure whether this threat will persist after the election, writes CNBS. "Time will tell if the expected volatility will turn into actual market volatility," Charlie Ripley,...

Under Armour Beats Wall Street Annual Revenue Expectation

Under Armour beats analysts' expectation through increased sale for masks and sports items. As per Under Armour Inc’s forecast, its “annual revenue” has surpassed Wall Street expectation as the pandemic increased the demand for “running shoes and face masks” with the rowing trend for outdoor...

Chevron’s Surprise Q3 Profit Post Reduction Of Spending Budget

Recovered oil prices and cost reduction have resulted in surprise Q3 profits. Chevron Corp came out with a surprise Q3 profit with oil prices recovering from “spring lows” while cutting down on the spending budget helped in “operating results”.   Given the drop in demand as well as crude...

American Express Invests ‘$1 billion’ For Diversity And Inclusion

The protests against racial injustice that took place earlier in the year has pushed several corporate giants to take a pledge for the cause. American Express Co has informed about its investment of “$1 billion” to promote gender as well as racial equality, whereby joining other U.S. companies to...

US Attempt To Block Appointment Of Nigerian Woman To Head The WTO

The United States has opposed the move to make Nigeria's ex-finance minister as the head of the World Trade Organization (WTO) and therefore her appointment now has been thrown into doubt.   WTO’s 164 members were recommended to appoint Ngozi Okonjo-Iweala as the organizations leader by a...

Mixed Bag Of Q3 Results Form Top Tech Firms With Mixed Impact On Stocks Results

A mixed bag of quarterly reports from top-tier technology companies resulted in stocks of Alphabet rallying while those of Apple and Twitter tumbled on Thursday.   These are the stocks that have caught the fancy of investors so far this year to power a stock market rally through the...
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