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Goldman Sachs obliges its employees to get permission to travel to Paris during the Olympic Games 2024 04/30/2024

Russia Paid Middlemen For Half Of Its Payments To China: Report 04/27/2024

US Inflation Picks Up Little, Q2 Forecast Is Improved By Consumer Spending 04/27/2024

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Lockdown Orders Propels Target's Online By 275% In April

The coronavirus related lock down and stay at home orders have propelled the demand for products online which was cited by Target Corp to be the reason for the company being able to cushion some of the hit that it has taken because of coronavirus lockdowns to in-store sales during the quarter ended...

Gulf of Mexico oil companies are stopping production

Offshore oil companies have begun shutting down wells in the U.S. Gulf of Mexico following a collapse in oil prices, and some top executives in the sector fear that a full recovery could take years, The Wall Street Journal writes. The unprecedented drop in energy demand as a result of the COVID-19...

Victoria’s Secret buyer decides to cancel the deal

In February, Sycamore Partners agreed to buy a controlling stake in Victoria’s Secret for $ 525 million. However, now the fashion brand closed all American stores because of the coronavirus, and Sycamore decided to abandon the deal. The company has to terminate the agreement through the court....

Marketing Strategy Change In Global Beauty Industry In The Age Of Coronavirus

The coronavirus pandemic across the world has changed the manner in which the global beauty industry, which is worth $500 billion, is marketing its products to a clientele that is currently hidden behind masks or stuck at home under government orders aimed at preventing the spread of the virus...

US clothing retailers are facing massive unsold stocks

US clothing retailers are trying to get rid of unsold goods, including spring collections, for tens of billions of dollars, writes The Wall Street Journal. Retailers offer significant discounts on their websites, but consumers are in no hurry to buy, the publication notes. Off-price chains such...

Richard Branson asks for state support to save his airlines

Billionaire Richard Branson ($ 4.4 billion of wealth according to Forbes Real-Time) said his personal funds and Virgin Group's funds would not be enough to save Virgin Airlines in the UK and Australia in the crisis caused by the coronavirus pandemic. State support will be required to save Virgin...

Binance burns $ 52.5M of its own tokens

Binance cryptocurrency exchange reported a record quarterly burning of BNB tokens. According to the release, the exchange explained this burning with increased traffic, as well as the increased interest of users in digital money. In this quarterly burning of tokens, 3,373,988 BNBs were destroyed;...

US Offices To See Big Change Because Of Novel Coronavirus

Analysts of the commercial real estate industry of the United States are of the opinion that the impact of the novel coronavirus pandemic in the country will have an impact on the office rental sector in the country similar to what happened with malls because of the emergence and growth of...

Chevron subsidiaries sell assets in Azerbaijan

Chevron’s subsidiaries sold their shares in oil assets in Azerbaijan for $ 1.57 billion to the Hungarian MOL, the American oil company said. "Chevron Corporation today announced that its subsidiaries sold their non-operating shares in the Azeri–Chirag–Gunashli (ACG) oil field... and the...

US Funding To WHO Stopped By Trump Over Its Role In Covid-19 Pandemic

Amidst the coronavirus pandemic wrecking havoc in hundreds of countries around the world , including the United States, funding to the World Health Organization has been halted by the US President Donald Trump over his allegations that the UN agency had not handled the coronavirus pandemic in a...