Daily Management Review
Business & Finance

JPMorgan, Wells Fargo and BofA received 25% less overdraft fees in 2023

The aggregate overdraft fees of US banks JPMorgan Chase & Co., Wells Fargo, and Bank of America Corp. decreased by almost 25% in 2023 under pressure from regulators to curb them, according to CNBC. These revenues came to $2.2 billion in total, which is almost $700 million less than what was...

France Ends Its Subsidised EV Leasing Initiative In Response To High Demand

After demand greatly outstripped earlier projections, the French government stated that it was suspending its initiative to support low-income individuals leasing electric cars for the remainder of the year.   Since the beginning of 2024, individuals with less than 15,400 euros ($16,600) in...

Battery joint venture between Stellantis and Mercedes seeks funds for expansion in Europe

According to US media, Automotive Cells Company SE (ACC), a joint venture between Stellantis and Mercedes to manufacture batteries for electric cars, is in discussions with several banks to get funding to increase manufacturing in Europe. The financing's terms will be disclosed "in the near...

Job Losses Extend Beyond The Technology Sector

Many American and Canadian businesses, primarily in the media and technology industries, have started the year with workforce reductions in an effort to control expenses in an unstable economic climate.   Here is a summary of the 2024 layoffs that have been disclosed thus far:  ...

Australian oil and gas majors Woodside and Santos reject $52B merger

Two of Australia's biggest oil and gas corporations, Woodside and Santos, announced that their three-month merger talks have been called off. According to a statement from Woodside, the first information exchange did not reveal enough advantages that would be in the best interests of Santos...

Shell head criticizes freeze on issuing licenses for USA LNG exports

Shell CEO Wael Sawan claims that the industry as a whole is suffering from the US President Joe Biden administration's decision to halt the licensing of new LNG export projects, writes the Financial Times. "I don't think the administration's recently announced measures will necessarily affect LNG...

How Businesses Are Reacting To Attacks On Ships?

The quickest shipping route between Europe and Asia has been hampered by attacks on vessels by Houthi terrorists in Yemen who are backed by Iran.   Targeting a corridor that carries 15% of all shipping traffic worldwide, the attacks have forced a number of shipping corporations to reroute...

BAT and Philip Morris settle patent dispute over e-cigarettes

According to a press announcement from BAT, US-based Philip Morris International and British American Tobacco (BAT) have reached a global settlement agreement to end their patent battle over HTP, or hot tobacco products, and e-cigarettes. The accord stops all cases alleging patent infringement and...

TotalEnergies buys 200 electric refueling stations in Spain powered by renewable

Wenea and TotalEnergies have reached an agreement for the development of an electric vehicle refueling station network in Spain. As a first step, TotalEnergies purchased Wenea’s subsidiary Nordian CPO, which possesses 200 refueling stations. All 200 of these gas stations receive their electricity...

Toyota becomes world leader in car sales

With more than 10 million cars sold in 2023, Japanese automaker Toyota Motor rose to the top of the global automotive sales rankings for the fourth year in a row. A preliminary estimate made public on Tuesday states that sales of Toyota and Lexus automobiles reached an all-time high of about 10.31...
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