Daily Management Review
Business & Finance

Atlantic Coast Pipeline gas project closed in the US amid delays and price risks

The Atlantic Coast Pipeline (ACP) gas pipeline project is closed amid uncertainty with prices and regulation, the project’s organizers Dominion Energy and Duke Energy said in a press release. "Despite a convincing victory in the Supreme Court - seven for, two against - which confirmed the viability...

More Than 7,500 Jobs To Be Axed By Air France

The impact of he novel coronavirus pandemic on the global airline industry is being reflected throughout the industry.   About 7,580 jobs, or 17.5% of its current workforce is being planned to be cut down by Air France over the next few years, the airline has announced. It is also expected...

£400m Stake In Satellite Firm OneWeb Taken Up By UK Government

An investment of $500m (£400m) is to be made by the United Kingdom in the failed satellite firm OneWeb so that it would be possible to replace the need for use of European Union’s Galileo sat-nav system.   OneWeb was working on an expensive project to build a spacecraft network to deliver...

Tesla Becomes The Most Valuable Car Maker Of The World, Beating Toyota

A day prior to eh United States based electric car maker Tesla Inc. posted better-than-expected quarterly results, the company went past Toyota to become the most valuable car maker of the world.   During the most recently ended quarter, Tesla delivered 90,650 vehicles compared to the 74,130...

Pizza Hut and Wendy's franchisee asks for bankruptcy protection in USA

NPC International, one of the largest franchisee restaurant chains in the United States, has filed a lawsuit to protect against creditors under Chapter 11 of the American Bankruptcy Code. The company manages over 1200 Pizza Hut and 385 Wendy's restaurants. In 27 states, the company employs about...

Google will postpone opening USA offices due to new outbreaks of coronavirus

New outbreaks of the COVID-19 coronavirus in the United States forced Google to postpone opening of offices. The company was about to return some employees from remote work in July, but will now wait until the fall. Google sent a memo to its employees, from which it follows that all of the...

Ineos To Purchase BP’s Petrochemicals Arm For ‘$5 billion’

Ineos extends its “interest in acetyls” and adds a “leading aromatics business”. BP will be selling its “global petrochemicals business” as Ineos owned by Jim Ratcliffe will buy the same for “$5 billion”. The move to pull out of a sector has been associated with a key driving factor of “oil demand...

Price Of Covid-19 Rug Remdesivir From Gilead Set At $2,340 Per Patient In US

The price for its Covid-19 fighting medicine remdesivir has been priced at $2,340 by Gilead Sciences Inc for a five-day treatment in the United States and in some of the other developed countries.   But this pricing strategy also raises the prospect of the treatment facing severe challenge...

Airbus To Cut Nearly 40% Jobs With Low Output

Drop in production, slow delivery and the ongoing pandemic crisis forces Airbus to make “necessary adjustment”. Airbus, in an “imminent restructuring plan”, is considering to cut down “thousands of jobs”, confirmed the chief executive of the company. The discussions are in final stage as it plans...

Exxon Mobil Corp, API and Koch Industries Face Minnesota Lawsuit

Minnesota state charges oil companies as guilty of conducting deceitful global warming campaign to keep the public in the dark. Last week, Minnesota state has filed a case of lawsuit against three companies, namely Exxon Mobil Corp, Koch Industries and the American Petroleum Institute. The charges...
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