Daily Management Review
Business & Finance

Hyundai Motor suspends production at Ulsan plant after worker tests positive for coronavirus

Hyundai’s Ulsan factory’s worker fall victim of corona virus. The company suspends the operation and is busy disinfecting the facility. On Friday, in a statement, Hyundai Motor stated, production at one of its factories in the southeastern city of Ulsan has been suspended following one of its...

Wells Fargo To Pay ‘$35Million’ Fine

Wells Fargo to pay $35million fine for failure to inadequately supervise sale of high risk products. In a statement the Securities and Exchange Commission has ordered Wells Fargo & Co to pay $35 million towards its failure to inadequately supervise investment advisers who recommended high-risk...

Virus Outbreak In China To Hit Baidu’s Q1 Revenue From Business And Advertising

There can be as much as a 13 per cent year on year drop in its first quarter revenues because of the sudden and extensive slowdown of economic activities and advertising because of the spread of the coronavirus, said China’s biggest search engine company Baidu Inc.   The company said that it...

SEC fines Steven Seagal for concealing ICO ad revenue

Hollywood actor Steven Seagal will pay a total of $ 314 thousand to settle claims by the U.S. Securities and Exchange Commission (SEC) in connection with concealment of the remuneration received for advertising the initial public offering of tokens (ICO) of Bitcoiin2Gen (B2G). According to SEC, the...

IMF And World Bank Contemplating 'Virtual' Meeting In April Due To Coronavirus Concerns

Both the International Monetary Fund and the World Bank are contemplating to scale down their Spring Meetings to be held in April or conduct them through teleconference because of the growing concerns within these global financial institutions about the fast spreading of the coronovirus, said a...

Microsoft lowers expectations for quarterly revenue

Microsoft has lost optimism over the coronavirus. The company lowered its estimate of revenue for the current quarter, deciding that an outbreak would negatively affect sales of Windows software and Surface devices. In January, the tech giant predicted from $ 10.75 billion to $ 11.15 billion in...

SambaNova Systems Collects ‘$250 Million’ In BlackRock-Led Funding Round

Funding round of SambaNova Systems revealed investor appetite besides broadening its customers’ base. SambaNova Systems is an artificial intelligence computing firm. On Tuesday, 25 February 2020, it informed that it has managed to collect “$250 million” in its finding round which was led by...

Peugeot Maker PSA Reports Record Profitability For 2019 As It Pushes For Merger With Fiat

While announcing a record high for its profitability for 2019, owner of the Peugeot brand PSA Group warned of dropping sale industry wide in Europe for the current year even as the company is pressing forward with its proposed merger with merger with Fiat Chrysler. The deal will help the company to...

Agri-Giant Cargill Forays Into Plant-Based ‘Meat’ Business

Plant based meat producing startups such as Impossible Foods and Beyond Meat are set to face stiff competition now as the agriculture giant Cargill has just announced its plans of launching a plant-based burger by this spring.   Starting early April, the privately held Minnesota-based...

PSA Group net profit goes up to 13% in 2019

Net profit of the French automobile concern Groupе PSA attributable to shareholders of the parent company, according to the results of last year, amounted to €3.201 billion, an increase of 13% compared to 2018, the company said in a press release. Diluted earnings per share in the reporting period...
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