Daily Management Review
Business & Finance

ExxonMobil Is Losing Profit in Billions

Leading US oil company ExxonMobil said its latest quarter profits numbered $ 2.8 billion, which is 58% less than the previous year, and the annual profit fell by half - from $ 32.5 billion to $ 16.2 billion. ExxonMobil’s management noted that in the current difficult conditions, the company intends...

Chinese Investigators say $7.6 Billion Taken by Online Lender Ezubao in Ponzi Scheme

In what is being referred to as an enormous Ponzi scheme, local authorities in China are investigating allegations where a Chinese online finance company bilked investors out of more than $7.6 billion, spent lavishly on gifts and salaries and buried the evidence.   The online finance...

Settlement over Dark Pool Reached Between Barclays, Credit Suisse and SEC, NY

With Barclays admitting it broke the law and agreeing to pay $70 million, Barclays and Credit Suisse have settled federal and state charges that they misled investors in their dark pools, federal and New York state officials said on Sunday.   Marking the two largest fines ever paid in...

First Peek into the 'Moonshot' Bets of Alphabet Likely in Fourth Quarter Results

While the project is no more a secret, what the market wants to know is now is how much is Google-parent Alphabet Inc spending on "moonshots" – self-driving cars. Apart from this there is also growing inquisitiveness about expenditure for its glucose-monitoring contact lenses, Internet balloons and...

Nokia Shares Hit as it Forecast Patent Sales From Samsung

The financial terms of the deal between Nokia and South Korea's Samsung that settled a lengthy patent dispute between the companies have left the investors disappointed. The settlement deal was announced on Monday.   After the Finnish firm said the Samsung deal would lift patent unit Nokia...

British Stores Are Robbed and Plundered at a Record Pace

British consortium of retailers (BRC) said the country’s stores last year were deprived of goods and funds for the record sum of £ 613 million because of crimes. There is still a large part of the losses, which shops are incurring from gang robberies, but researchers note intensification of...

Analysts say Just Days Left for Verdict on Settlement in Nokia-Samsung Patent Case

With analysts forecasting a one-time payment of hundreds of millions of euros for the Finnish company, Nokia and Samsung are expected to settle their two-year patent dispute within days.   In order to settle additional compensations for a five-year period starting from early 2014, Nokia had...

US Companies Being Unfairly Targeted Over Taxes by European Commission, say US Officials

The US Treasury official in charge of international tax policy, Robert Stack claimed that companies like Apple, Amazon, Starbucks and McDonald’s are being unfairly targeted by the European Commission over tax avoidance.   “We are concerned that the EU commission appears to be...

Virtual Reality Efforts of Apple Boosted by Building of a Secret Team: Media Reports

As Apple seeks new sources of growth beyond the iPhone, the IT giant has reportedly built prototypes of headsets that could one day rival Facebook’s Oculus Rift or Microsoft’s Hololens and has assembled a large team of experts in virtual and augmented reality.    Sources in the...

Contract for Two New Presidential Air Force One Jets Granted to Boeing

Work is soon to begin for a new fleet of Air Force One presidential aircraft by Boeing Co soon after the airplane maker won a contract to start the preliminary work based on its 747-8 jumbo jet, the Pentagon said on Friday.   According to the Pentagon's daily digest of arms deals, the...
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