CategoryCorporate

AMC Entertainment has 750 million outstanding debts, may collapse as soon as next month

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AMC Entertainment is on the verge of collapse. The largest chain of cinemas in the world  needs $ 750 million to ensure its survival. Otherwise, it might be bankrupted. The company has been provided with some air by a capital injection of $ 100 million from Mudrick Capital but it isn’t enough. AMC has around a thousand standalone cinemas worldwide and accounts for more than 11,000 cinema...

TUI lost majority of sales, cuts 8000 jobs

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The German travel group TUI has been in deep trouble in the last broken financial year because of the malaise in the tourism sector caused by the coronacrisis. There was a net loss of more than EUR 3 billion. In order to cope with the crisis, some 8 000 jobs are being cut. Last year TUI put a profit in the books of EUR 532 million. Sales fell this year by 58% to less than EUR 8 billion. The...

Brazilian airline will be the first to re-launch its Boeing 737 MAX fleet

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The Brazilian airline GOL is scheduled to return to its service with the Boeing 737 MAX. In this way, the low coster is said to be the first company to take passengers with the aircraft that had to stay on the ground for a long time because of safety issues. Flying with the MAX had been banned since March 2019, as two fatal crashes with aircraft of that type had occurred within a short period of...

Pfizer and BioNTech on track to deliver 100 million doses of the SARSv2 vaccine

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Pfizer pharmaceutical corporation and biotechnology company BioNTech have the production of their vaccine in order. They have already produced nearly 50 million doses for this year, the two companies say. This contradicts a message in business newspaper The Wall Street Journal that they would not make their production for this year through procurement problems. According to The Wall Street...

Aegon has sold Vienna Insurance Group

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Aegon has sold its central and Eastern European branch to the Austrian branch representative Vienna Insurance Group (VIG). It concerns insurance, pension and asset management in Hungary, Poland, Romania and Turkey. For it, EUR 830 million is paid. “We focus our strategic focus on those countries and activities with which Aegon can create the most value,” says CEO Lard Friese of Aegon...

Expert advises to buy Uniliver shares

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Due to the recent “weakness” of Unilever’s share, it is a good time to get in. That’s what Jefferies analysts say about the household chemistry and food group. According to Jefferies, the current low valuation of the stock is a mystery and a new purchase option will emerge next week when the company becomes fully British on paper. Jefferies expects that the simplified...

Danone cuts jobs and focuses on local business

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The French food group Danone is going to cut costs and cut jobs in order to increase the profitability under pressure from the crisis. In addition, the organisational structure of the company is reorganised, with much greater focus on geographical locations. The maker of dairy and yoghurt products, baby foods and mineral waters, including Evian, is going to cut up to 2000 jobs, including in...

Pharming is building a new production facility

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Biotechnology company Pharming is building a new production facility in Oss. The company intends to expand its processing capacity of its main product line. Downstream production includes the purification, filtration and concentration of the starting material. Construction of the production site starts in mid-2021 at the Pivot Park in Oss. It also contains the location of BioConnection...

Møller-Maersk buys own shares, fires employees

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The Danish container company A. P. Møller-Maersk is buying up its own shares for 1.6 billion dollars. That’s what the company announced when it published quarterly figures. Maersk had revised up all his profit forecasts for the whole year on Tuesday. The purchase of own shares will take place over a period of no more than 15 months. Maersk now expects an operating result (ebitda) cleared...

Warren Buffett bought shares of vaccine maker before the results were announced

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Berkshire Hathaway, the US investor Warren Buffett’s investment fund, has made new investments in Pfizer and Merck. Berkshire also deployed funds to pharmaceutical AbbVie and Bristol-Myers Squibb. At the same time, billionaire lowered its interests in financial companies, including Wells Fargo and JPMorgan Chase, as evidenced by third-quarter documents. Berkshire had already started buying...

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