Daily Management Review
Business & Finance

World Bank to end Doing Business ranking

The World Bank decided not to issue the annual Doing Business report on business conditions in different countries any longer. This is due to errors discovered in the calculations for the 2018 and 2020 reports. The World Bank suspended publication of the Doing Business ranking a year ago. Creators...

App Annie to pay $10 million to U.S. watchdog in privacy breach case

The U.S. Securities and Exchange Commission (SEC) announced that App Annie, a company that provides data on downloads and usage of mobile applications, agreed to pay a $10 million fine for violating the Securities Trading Act. The reason was the company's practice during which it collected...

Chip Supplies To Auto Industry To Be More Stable In 2022, Says GM CFO

Paul Jacobson, Chief Financial Officer at General Motors Co, reiterated the 2021 profit outlook of the company. He also stated that the company expects a more stable year in 2022 for a much steadier supply of auto semiconductors.   Jacobson stated during a conference with investors that GM...

Facebook to pay $100 million for unpaid small business invoices

Facebook will allocate $100 million to buy out unpaid accounts of small businesses owned by women and minorities. The social network estimates that the help will be available to about 30,000 businesses. Facebook is set to allocate $100 million to support small businesses owned by women and...

EU Approves ITA While Ordering Alitalia To Repay 900 Mln Euros Illegal Aid

According to the European Commission, a capital injection of 1.35 billion euros by Italy into ITA, scheduled to be done in the next three years, is consistent with European Union’s state aid rules. The Commission said that the aid provided to ITA will be made according to market conditions.  ...

Mastercard buys cryptocurrency analytics company

One of the world's largest credit card companies, Mastercard, is buying CipherTrace, a cryptocurrency analytics company, according to Mastercard’s press release. "Mastercard will expand its digital asset capabilities by signing an agreement to acquire CipherTrace, a leading cryptocurrency analytics...

Oil giant sets to get rid of multibillion-dollar assets in the U.S.

Chevron plans to get rid of its oil and gas assets in the Eagle Ford oil fields in South Texas in the United States. The company intends to sell them for a multibillion-dollar sum, writes Reuters. According to documentation with which the agency became acquainted, the sum amounts to about 3.8...

TotalEnergies to invest $27 billion in Iraq's energy sector

The French oil and gas company TotalEnergies and the Iraqi government concluded an agreement on the implementation of investment projects aimed at developing oil and gas fields in the country worth $27 billion, according to the office of Iraqi Prime Minister Mustafa Al-Kadhimi. Earlier, the Iraqi...

Hyundai Motor Reportedly Internally Developing A Chip To Use In An Upcoming Car

In the wake of the global shortage of semiconductor chips for the auto industry, South Korea's Hyundai Motor Co now has plans for negating that impact – albeit partially. The car making giant is said to be planning to use an auto chip has been developed by the company itself in one of its...

Xiaomi registers a business for development of electric cars

Xiaomi has officially registered a division that will develop electric cars. The authorized capital of the subsidiary amounted to $1.55 billion. The first Xiaomi electric car may be released as early as 2023, sources told Reuters in the spring. China's Xiaomi has officially registered an electric...
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