CategoryCorporate

New York Community Bancorp follows the footsteps of Signature: banking crisis isn’t over

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The share price of New York Community Bancorp, a large US bank, fell by 36%. This decline followed the release of the earnings report and the decision to significantly reduce the dividend (from the planned $0.17 per share to $0.05 per share). New York Community Bancorp is the bank that acquired the assets of the failed Signature Bank in 2023. According to the latest report, it seems that this...

Alaska Air financial loss is evaluated on a level of $150M

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The Alaska Air Group is anticipating a financial setback of an estimated $150 million this year, equivalent to more than 137 million euros, due to the grounding of Boeing 737 MAX 9 aircraft. The airline made this announcement on Thursday, marking one of the initial indicators revealing the repercussions of the incident earlier this month when a door panel became detached, necessitating an...

Philips summons Boombrush to the court over patent issue

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Boombrush, a start-up, is currently entangled in a dispute with Philips over the design of an electric toothbrush. According to Philips, the product from the Dutch start-up bears a suspicious resemblance to Philips’s Sonicare DiamondClean toothbrush. A spokesperson from Philips has confirmed that the company accuses Boombrush of infringing on Philips’s design rights. Philips contends...

Calhoun promised “100 percent transparency” of Boeing 737 Max 9 incident

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Boeing’s CEO, Dave Calhoun, is addressing the fallout from the recent incident in which part of the hull of a Boeing 737 Max 9 detached mid air. Calhoun assured employees in a speech that Boeing is committed to discovering the cause of the problem and emphasized the company’s willingness to learn from the mistake. Acknowledging the gravity of the situation, Calhoun promised “100...

Wall Street Quiet Ahead of Inflation Data, Start of Corporate Earnings Season

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Wall Street was quiet early following a lackluster session a day earlier as markets await U.S. inflation data and high-profile corporate earnings reports later in the week. Wall Street was quiet early Wednesday following a lackluster session a day earlier as markets await U.S. inflation data and high-profile corporate earnings reports later in the week. Futures for the S&P 500 were...

Hewlett Packard Enterprise Buying Juniper Networks in $14 Billion Deal

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Hewlett Packard Enterprise is buying Juniper Networks in an all-cash deal valued at about $14 billion, which is anticipated to double HPE’s networking business. Shares of both companies rose before the market open on Wednesday. A Wall Street Journal report about a potential deal saw Juniper’s stock surge 22% and HPE’s stock dip 9% before an official announcement was made. HPE...

Global Trade Braces for Unprecedented Geopolitical Challenges in 2024

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“The red sea situation is acute, but not chronic for shipping” says Christian Roeloffs, cofounder and CEO of Container xChange The shipping industry looking forward to up their game in ‘risk assessment and scenario planning’, ‘diversification of routes and suppliers’ & ‘regulatory compliance’ in 2024 as a response to geopolitical risks. Shipping professionals see ‘associated costs’ as the...

Hydrogen Energy Back in the Vehicle Conversation at CES 2024

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While electric vehicles are gaining the lion’s share of the attention for carbon-neutral technology at CES 2024, hydrogen energy has snuck its way back into the conversation thanks to two automotive giants. While electric vehicles are gaining the lion’s share of the attention for carbon-neutral technology at CES 2024, hydrogen energy has snuck its way back into the conversation thanks to...

Amazon ‘followed all applicable laws and did not receive special treatment’, according the court

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The highest European court has sided with Amazon in a dispute over a tax assessment of 250 million euros. The European Commission had imposed this assessment, contending that agreements between the Seattle-based company and Luxembourg amounted to illegal state aid. On Thursday, the European Court of Justice (see judgment C‑457/21 P and the press release) ruled that it has not been demonstrated...

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