Daily Management Review
Business & Finance

France To Oppose Launch Of Facebook’s Libra In Europe

The development and launch of Facebook’s planned digital currency Libra in Europe will be blocked by France because it feels that it is threat to the  "monetary sovereignty" of various European governments.   Libra presented financial risks and could be used for financial abuse, said...

California passes new bill, hits sharing economy companies

California adopted new rules, according to which Uber and Lyft drivers, Amazon and DoorDash couriers and other similar personnel will be considered employees of these companies, not independent contractors, as it was before. The need to provide social security for such employees can lead to an...

UK watchdog fines Engie for £ 2.1mln

British energy market regulator Ofgem fined Engie Global Markets (EGM) £ 2.1 million ($ 2.57 million) following an investigation into fraud in the UK gas market by a trader in the French energy company. It turned out that from June to August 2016, the trader allegedly placed artificially inflated...

JPMorgan Chase lowers 2019 earnings forecast

The bank lowered the bar by about $ 500 million following Wells Fargo and Citigroup. The American financial giant JPMorgan Chase revised its forecast for profit for the current year, lowering the bar by $ 500 million. The bank expects that it will eventually earn about $ 57 billion. “Our net...

Backer SoftBank Pushes The We Company To Postpone Its IPO: Financial Times

The primary supporter and investor of United States based company We Company, Japan’s SoftBank, is pushing the US company to postpone the planned initial public offering (IPO) for the time being which has added on to the pressure that We Company, which is the owner of workplace sharing firm WeWork,...

Chinese Professor Charged By US Prosecutors, Huawei’s Name Also Crops Up

In a fresh salvo at the Chinese tech giant Huawei, prosecutors of the United States have brought charges of fraud against a Chinese professor who allegedly had stolen technology from a California company and handed it over to Huawei.   According to court documents, the accused professor Bo...

Chinese E-Commerce Platform Kaola To Be Acquired By Alibaba For $2 Billion

The cross-border e-commerce business unit, Kaola that is owned by Chinese internet company NetEase, which is also listed at Nasdaq, will be bought by Alibaba for a value of about $2 billion, the largest Chinese e-commerce firm said on Friday.   A range of consumer products including clothes,...

Even After Despite Good Quarterly Results, Shares Of High-Flying IPO Drop

There of the best performing IPOs for 2019 on Wall Street fell flat on their face as investors lost confidence on the high valuation of the stocks even after the companies reported better than expected quarterly results.   One such IPO was that of Zoom Video Communications that fall by 2 per...

ExxonMobil leaves Norway's oil and gas sector after 125 years of operation

The American corporation has agreed to sell its assets in Norway for $ 4 billion. ExxonMobil is also discussing the possibility of selling assets in the North Sea on the UK shelf. This was reported with reference to unnamed sources by Reuters. The agency’s sources did not disclose who became the...

Google, YouTube to pay record $ 170 mln fine in USA

Google and YouTube will pay $ 170 million for collecting personal information about children without the consent of their parents, follows from a message on the website of the Federal Trade Commission (FTC) USA. The message states that the FTC and the New York Attorney General have brought charges...
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