CategoryCorporate

Less profit for Rocket Internet

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Rocket Internet has seen its profit fall slightly over the first nine months of the year. The German start-up investor mainly blames this on the declined market value of fashion platform Global Fashion Group and the African web store Jumia. A profit of 285 million euros was recorded. That was 4 percent less than a year earlier. Compared with the figures for the first half year, there has been a...

Unilever recalls US products because of listeria contamination

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Food producer Unilever is recalling products in the United States because of a possible infection with the listeria bacteria. It concerns products such as chicken broth and soup from the Lipton, Knorr and LeGoรปt brands. The recall is the result of a similar promotion from a Unilever follow-on supplier. The company warned authorities about possible listeria. There are no known cases of disease so...

German car builders fined for steel cartel creation

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Volkswagen, BMW and Daimler together have to pay around 100 million euros for forming a prohibited steel cartel. The car manufacturers agreed a settlement with the German cartel watchdog Bundeskartellamt. The three companies met twice a year between 2004 and 2013 with steel manufacturers, forges and suppliers to the steel sector. According to the regulator, they exchanged information about steel...

Swedbank is investigated in sanctions cirumvention

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Swedbank, plagued by money laundering issues, may also have violated US sanctions against Russia. According to Swedish broadcaster SVT, US authorities are therefore currently investigating the Swedish financial group. It would be money flows through the Baltic branch of Svedbank between the Russian arms maker Kalashnikov and Kalashnikov USA, a Florida company that makes weapons based on the...

Phillips acknowledged HeartStart XL troubles

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Healthcare technology group Philips has trouble with a particular model of defibrillator in the United States because it cannot work properly. This was reported by the American regulator FDA. It concerns almost 24,000 devices that are in circulation in the country. This is the HeartStart XL + Defibrillator / Monitor, Model 861290. The device may, for example, refuse to come on. In October...

Aircraft manufacturer Boeing received dozens of orders for the troubled 737 MAX aircraft

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Boeing has not confirmed the rumors. One of the buyers is the Turkish SunExpress, which placed an order for ten 737 MAX aircraft. The Indian low coster SpiceJet is said to have ordered some jets. Insider said that the order is in final stage. The size of the order did wasn’t specified by the Indian airline out. The 737 MAX is currently being grounded worldwide by order of aviation...

4000 WeWork employees will search for new job

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The financially troubled manager of shared workspaces WeWork wants to put a third of its staff on the street. Initiates say that to the American newspaper The New York Times. The dismissal round is part of a larger five-year plan to make WeWork a healthy company. WeWork will announce this week to say goodbye to at least 4000 employees. Approximately half of them are engaged in non-core activities...

Initial Aramco share offering to be within 30..32 riyal margin

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Saudi state oil company Saudi Aramco is going to value its shares at 7.23 to 7.72 euros each (30 to 32 riyal). The oil giant reports this in an update of the prospectus. The total value of Aramco thus comes to 1.5 trillion euros. A trillion is a 1 with 12 zeros, or a thousand billion. The group brings a 1.5 percent interest on the stock exchange in the Saudi capital Riyadh. It is the...

DJIA propelled past 28,000 points fueled by the trade deal optimism

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The American stock exchanges closed with new records on Friday. The leading Dow-Jones index went beyond the limit of 28,000 points. Among other things, investors on Wall Street processed better-than-expected figures on US store sales. Furthermore, attention was mainly focused on trade negotiations between China and the United States. The Dow finished 0.8 percent higher at 28,004.89 points. The...

SEB shares fall as involvement in money laundering has been voiced

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The Swedish bank SEB was a striking fall on the stock exchange in Stockholm on Friday. Investors were shocked at the link made by journalists from the Uppdrag Granskning research program between the financial group and the extensive money laundering affair in the Baltic states. Dankse Bank plays a major role in this matter. The Danish bank is said to have facilitated billions of euros in doubtful...

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