Author Archives
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Macy’s inc reports net loss of $3.58 billion in first quarter
On Wednesday, in a statement Macy’s Inc reported a $3.58 billion loss stemming from the lockdowns induced by the coronavirus which emerged from Wuhan, China. Losses in the coronavirus-hit quarter are mainly in the goodwill and asset impairment charges of… Read More ›
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Airbus to trim 1700 jobs in UK
In a statement, the union of airplane maker Airbus said, Airbus will cut 1,700 UK jobs across its operations across Britain including at two of its biggest factories, as it races to save the company from further cash burn. The… Read More ›
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Netflix appoints Bozoma Saint John as chief marketing officer
In a development that signals a wider racial inclusion into senior management, Netflix Inc has appointed Bozoma Saint John as its chief marketing officer, effective from August 2020. Saint John’s previous work experience includes being the head of marketing at… Read More ›
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Goldman Sachs’s investment banking unit ramps up hiring of African Americans, targets wider racial inclusion in management
According to a memo,the investment bank unit of Goldman Sachs Group Inc has formed a new group to increase the recruitment of Black employees and improve career development and retention among existing Black employees. Nicole Sharp, Goldman’s spokeswoman, vetted the… Read More ›
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Shell to write down $22 billion, revises oil and gas outlook for the next 3 years
On Tuesday, Royal Dutch Shell said, it will be writing down $22 billion from the value of its assets after sharply lowering its oil and gas price outlook in the wake of the coronavirus pandemic. The development comes in the… Read More ›
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Hong Kong’s special status under U.S. law being withdrawn: U.S. Commerce Department
With China imposing its draconian security law in Hong Kong in violation of a prior agreement, on Monday the Trump Administration began taking steps to eliminate Hong Kong’s special status under U.S. law; it is also halting defense exports and… Read More ›
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Rory Macleod, CEO of Australia’s Freedom Foods Group, resigns
On Tuesday, Australia’s Freedom Foods Group stated, its Chief Executive Rory Macleod had resigned. The development comes in the wake of the snacks and cereal maker tapping advisers to probe the company’s financial health. Last week, Freedom Foods, the maker… Read More ›
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Coty inc buys 20% stake in Kim Kardashian West’s KKW makeup brand
On Monday, cosmetic seller Coty Inc stated, it has agreed to purchase a 20% stake in reality TV star Kim Kardashian West’s makeup brand KKW for $200 million. With the news reaching the market, its shares went shooting up by… Read More ›
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Gilead Sciences prices COVID-19 fighting drug remdesivir at $390 a vial
On Monday, Gilead Sciences Inc stated, it has its COVID-19 fighting drug remdesivir at $390 per vial for the United States and for governments of other developed countries. As a result, a patient will have to shell out $2,340 for… Read More ›
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Nissan CEO Makoto Uchida sticks to performance-linked policy promise
On Monday, Nissan Motor Co’s CEO Makoto Uchida told shareholders, he will stick to his pledge to step down from the helm of the company if he fails to deliver on his turnaround plan. “At the last extraordinary shareholders meeting… Read More ›
