COMPANIES

According to Capital One the deal to acquire Discover is expected to close in late 2024 or early 2025

Capital One To Buy Discover For $35.3 Bn

Acquisition of Discover will help "build a payments network that can compete with the largest payments networks and payments companies," said Capital One founder and CEO Richard Fairbank in a statement.

Big Firms With $7 Tn Exit Climate Investment Pressure Group

Smog is pictured over Lake Geneva in Switzerland in February 2017
JPMorgan Asset Management, which manages $3.1 trillion in assets, has not renewed its membership in Climate Action 100+, saying through a spokesperson that it will oversee its stewardship on climate change with companies with its bank staff.
Airbus CEO Guillaume Faury said the group had a "remarkable" 2023 with a takoff in sales and orders

Airbus Posts 11 Percent Profit Drop For 2023

The group, which delivered 735 aircraft last year despite supply chain problems, said it plans to deliver about 800 in 2024. It reached the mark in 2018 before the pandemic battered the aviation industry.
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BP bagged a net profit of $15.2 billion last year

BP Bags Bumper 2023 Profits, Rewards Investors

The annual results sparked fresh fury from the green lobby but herald a new era under new chief executive Murray Auchincloss, following the dramatic sacking of his predecessor Bernard Looney.
AFP news Feb 06, 2024
Critics argue that the 2015 takeover deliberately undervalued the construction firm's stock price

S. Korean Court Acquits Samsung Chief Over 2015 Merger Case

Yonhap news agency reported that the court said it did "not recognise intention to harm shareholders" through the merger, which critics had claimed was bad value and done mostly to ensure a smooth third-generational power transfer to Lee, a scion of Samsung's founding family.
AFP news Feb 05, 2024
Shell's net profit reached $19.4 billion in 2023

Shell Profit Tumbles On Lower Oil Prices

Post-tax profit slumped 54 percent after reaching an all-time high of $42.3 billion in 2022, when energy producer Russia's invasion of Ukraine sent oil and gas prices soaring, boosting earnings across the industry.
AFP news Feb 01, 2024
Tesla chief Elon Musk is the world's richest person, but a US judge ruled that he has been getting paid too much, voiding the entrepreneur's $56 billion compensation package from the electric vehicle maker

US Judge Voids Elon Musk's $56 Billion Tesla Compensation

The judge in Delaware Chancery Court ruled that the plaintiff, a Tesla shareholder named Richard Tornetta, was "entitled to rescission," approving the annulment of Musk's 2018 humongous compensation agreement worth as much as $55.8 billion.
AFP news Jan 31, 2024
Banco Santander posted strong earnings despite a windfall tax imposed by the socialist government

Santander Posts Record Profit In 2023 After Rate Hikes

Spanish banking giant Santander posted a record 11.1-billion-euro ($12 billion) net profit for 2023 on Wednesday as higher interest rates and a rise in global clients helped to cushion the impact of a windfall tax.
AFP news Jan 31, 2024
H&M chief executive Helena Helmersson said her job had been 'very demanding at times for me personally'

H&M Shares Tumble As CEO Steps Down

H&M chief executive Helena Helmersson announced Wednesday she was stepping down, sending shares in the fashion retailer tumbling as the Swedish company reported lower-than-expected profits in the fourth quarter.
AFP news Jan 31, 2024
Alaska Airlines has resumed service on the Boeing 737 MAX 9 following a three-week grounding in the wake of a January 5 emergency landing

Wall Street Girds For Ugly Boeing Earnings As CEO Faces Scrutiny

Both Alaska and United Airlines resumed service on the MAX 9 over the weekend following a three-week grounding after a panel blowout necessitated an emergency landing. The incident has heaped scrutiny on Boeing and CEO David Calhoun.
AFP news Jan 29, 2024
Nokia and its Swedish rival Ericsson have launched cost-cutting programmes as their customers have reduced spending amid a slowing global economy

Nokia Sees 'Challenging' 2024 After Profits Plunge

Finnish telecommunications equipment maker Nokia warned Thursday that it expects another tough economic environment in the first half of this year after its net profit sank in 2023.
AFP news Jan 25, 2024
Netflix says that despite the long strikes by actors and writers in Hollywood it has a strong line-up of content set for release in 2024

Netflix Subscribers Jump Despite Price Hikes

Netflix finished 2023 with slightly more than 260 million subscribers worldwide, with a profit of $938 million in the final quarter versus just $55 million in the same period a year earlier.
AFP news Jan 24, 2024
Reports said Sony was unhappy with Zee's performance since the merger was agreed in 2021

Sony 'Terminates' Indian Merger With Zee

Sony "terminated" on Monday the $10-billion merger of its Indian operations with local rival Zee Entertainment that would have created a new streaming giant in the world's most populous nation.
AFP news Jan 22, 2024
Meta has released its own AI model, LLaMa 2, and Zuckerberg said his teams were working on a next version

Meta Joins Rivals In Pursuit Of Human-level AI

Meta CEO Mark Zuckerberg on Thursday said his company is joining the pursuit of creating super artificial intelligence, putting it in a race with Microsoft-backed OpenAI and Google.
AFP news Jan 19, 2024
Epic Games chief executive says the Fortnite maker plans to challenge Apple's move to allow iPhone app makers to use alternate payment systems, but charge a fee on transactions nonetheless

Apple Loosens Grip On IPhone Apps - With A Catch

After a years-long legal battle, Apple says it will begin allowing iPhone app developers to use alternative payment systems -- but they will still have to pay fees and meet various conditions.
AFP news Jan 18, 2024
India's newest airline Akasa Air has ordered 150 Boeing 737 MAX planes

India's Akasa Air Orders 150 Boeing Planes: CEO

The deal is a shot in the arm for US aviation giant Boeing, which is under intense global scrutiny over its 737 MAX 9 jet, after a scare on an Alaska Airlines jet in early January when a panel came off mid-flight and forced an emergency landing.
AFP news Jan 18, 2024
Google's cloud computing unit is ramping up generative artificial intelligence tools retailers can use to embed personalized chatbots in websites or mobile apps, and to make it more likely their products will pop up in online searches

Google Eliminates Hundreds Of Jobs In Ad Team Tweak

The job cuts to its "large customer" sales team are intended to result in better support for small and medium size businesses advertising on Google's platform, according to the internet giant.
AFP news Jan 17, 2024

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