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Financial Headquarters Of Total To Be Shifted To Paris From London

The chief executive of the French oil company Total, Patrick Pouyanné, has announced the company’s plans to move the cash of the company out of the United Kingdom after the onset of Brexit and shift its financial headquarters to Paris. This move by the petroleum giant reflects the confidence of the...

2019 The Most Profitable Year For Jpmorgan Driven By Surge In Trading

Has not only been the best year ever for JP Morgan but also for any bank in the United States ever.   The profits of the company increased by 21 per cent in the fourth quarter of 2019 driven by resurgence in trading, especially in fixed income, said the company. As a consequence the annual...

Walmart Lays Off 56 Executives In India As It Struggles To Expand

56 executives of the largest retailer of the world Walmart were fired by the company in India  which included eight executive in senior management positions, said the  President and CEO of Walmart’s India unit, Krish Iyer.   Rumors in the press that the company would be laying off...

26% Fall In Ford Sale In China In 2019

The sale of cars for Ford Motor Co. in the Chinese market in 2019 dropped by 23 per cent year on year as the company managed to sell less than half of what it had sold in 29016 – its highest selling year in the market. The company further warned that 2020 would be worse for the broader market....

Over $60 Million In Departure Package For Boeing’s Ousted CEO Muilenburg

The ousted Boeing CEO Dennis Muilenburg, who was fired by the board of the company for not being able to adequately handle the crisis after the grounding of the 7373 Max planes of the company, will walk away with a departure package of more than $60 million in pension benefits and stock, even...

Walmart’s 2019 Mexico Expansion Biggest In 6 Years With 134 New Stores

The largest retailer of the world Walmart ended 2019 as the year of its largest expansion in six years in its largest foreign market outside of its home market of the United States – Mexico, as the grocer opened 134 new stores in the country which increased its presence in the country by almost 5...

Tesla's Market Cap Surpasses Combined Value Of GM And Ford

The stock market value of the United States based electric car maker has surpassed the combined stock values of General Motors Co and Ford Motor Co for the first time in the history of the electric car maker.   The last jump in the stock price of the Silicon Valley electric-car maker was 5...

Facebook Sets Up Engineering Team In Singapore To Capture Chinese Ad Market

Even as the chief executive of Facebook Mark Zuckerberg has recently increased his criticism of China for blocking the social media network, a new engineering team is being set up by Facebook in Singapore with the aim of attracting and tapping into the lucrative China advertising business, said...

Uber Acquisition Of Careem Approved By Egypt Competition Regulator

The plans of ride hailing giant Uber to expand in the Middle East through the acquisition of the Egypt based regional rival Careem got a boost after the regulators in Egypt cleared the deal, albeit with a set of commitments from the United States based ride hailing service about not taking any...

Political Advertising Will Be Halted By Spotify In 2020

The music streaming platform Spotify has announced that political advertisement selling will be temporarily stopped by it on its platform in in early 2020.   Spotify’s original and exclusive podcasts will also be included in the temporary halt in selling advertisements later on, said the...

Tesla To Deliver First Cars From Its China Factory To Customers On December 30

After giving started construction of its only production unit outside of its home country of the United States only in January of this year, electric car maker Tesla is reportedly ready to deliver its first cars manufactured in its Chinese facility at Shanghai form December 30, according to a...

Record-Breaking Returns Season Expected By UBS Following Holiday Shopping Season

While this holiday season in the United States has been a record breaking one in terms of shopping and consequent shipping of products, the courier giant United Parcel Service (UPS) now also expects that the number of shipped returns will also reach a record high this year.   The company...
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