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 ›
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 ›
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 ›
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 ›
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 ›
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 ›
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 ›
The global petrochemicals business of British Petroleum (BP) will be sold to billionaire Jim Ratcliffe’s Ineos for $5 billion, the company said. With this deal the energy major will be completely exiting a sector that is widely viewed to be… Read More ›
The role of the German regulators in the accounting scandal and the ultimate collapse of the country’s fintech giant Wirecard will be looked into by European Union officials. Specifically, the extent to which the regulators were aware of the development… Read More ›
Administrators have been called in by Intu, the owner of some of the biggest shopping centres of the United Kingdom. No agreement had been reached in its negotiations about financial restructuring with its lenders, the company said previously. the company… Read More ›
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