Daily Management Review
Business & Finance

WSJ: Largest US banks boycott oil and gas sector lending

The largest US banks are boycotting oil and gas sector lending, limiting companies' access to borrowed funds and putting millions of jobs at risk, the Wall Street Journal writes. The newspaper explains that this is happening under pressure from environmental organizations. “As a rule, banks...

Covid-19 Crisis Forced Rolls-Royce To Burn Through £3bn Cash

The novel coronavirus pandemic has forced the aerospace unit of the Rolls-Royce to burn through £3bn in cash within a period of just six months,  the company said while also warning that it could be several years before the company would recover from the crisis.   3,000 of its employees...

New $1 Billion Fund Created Aimed To Help Struggling Antibiotic Making Companies

All those antibiotic companies that are currently struggling with financial problems could find some solace in a new $1 billion fund that has been founded recently and one that has been backed by 20 drug makers including Merck & Co Inc and Pfizer Inc.   According to an industry group,...

Wirecard accused of involvement in marijuana fraud in USA

The US Department of Justice is checking the German fintech company Wirecard for involvement in financial fraud in the amount of $ 100 million associated with the online sale of marijuana, writes The Wall Street Journal, citing informed sources. According to them, two businessmen have already been...

Global computers shipments rise by 11.2% in Q2 - IDC

Global shipments of personal computers (desktop computers, laptops and workstations) in the second quarter grew by 11.2% year-on-year to 72.3 million devices, since maintaining isolation in many countries provoked an increase in demand for laptops, according to a preliminary estimate by analytic...

Amazon to pay $ 134.5 thousand for violation of sanctions against Crimea, Iran and Syria

Amazon, the world's largest online retailer, will pay a fine of $ 134,523 to resolve claims by US authorities regarding a company’s violation of a number of sanctions programs. This is stated in a message of OFAC (Office of Foreign Assets Control, a division of the US Department of the Treasury...

Grocery Delivery In Latin America And Canada Launched By Uber, US Launch This Month

The business of delivery by the United States based ride hailing company Uber Technologies Inc has now been expanded into a number of several Latin American and Canadian cities where the company would now be offering an app-based grocery delivery service and plans to launch the service in its home...

Lobby Group Says US Tech Firms In India Not Yet Willing To Pay New Digital Tax

United States based technology giants operating in India are not yet ready to make the first payment of the digital tax imposed by the government that is due this week, said a lobby group representing those tech firms. The lobby has urged the government to defer the move to impose the tax for the...

US may ban Chinese TikTok

The US authorities want to consider a possibility of banning the popular application Chinese TikTok in the country. The corresponding statement was made by Secretary of State Michael Pompeo on Fox News. There are over 30 million TikTok users in the United States. The Secretary of State was asked...

UK watchdog demands that the Big Four separate audit from main business

The Financial Reporting Council (FRC) of the United Kingdom presented its new principles for the work of audit firms. The regulator requires the “Big Four” audit and consulting companies - KPMG, PwC, Deloitte and EY - to individualize the audit as a separate business. If the FRC requirements are...
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