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November 23, 2020

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Danone targets cost savings of $1.19 billion

FoodBusinessNews
PARIS — Danone SA expects a “local first” program will assist the company in generating cost savings of €1 billion ($1.19 billion) by 2023, the Paris-based company said Nov. 23. The cost reductions include eliminating 1,500 to 2,000 job positions. Company executives spoke about moving to local control in an......

Boom times have returned for venture-backed start-ups, says co-founder of $3 billion fintech Brex

CNBC
CNBC – For more and to sign up click here Henrique Dubugras, founder and chief executive office of Brex Inc., speaks during the Bridge Forum conference in San Francisco, California, U.S., on Wednesday, April 17, 2019. David Paul Morris | Bloomberg | Getty Images The coronavirus pandemic should’ve meant disaster......

Game consoles may haul in $45 billion this year, and big changes are coming

CNBC
CNBC – For more and to sign up click here Microsoft’s Xbox Series X (black) and series S (white) gaming consoles are displayed at a flagship store of SK Telecom in Seoul on November 10, 2020. Jung Yeon-je | AFP via Getty Images LONDON — We’ve come a long way......

GM ups spending on EVs and autonomous cars by 35% to $27 billion

CNBC
CNBC – For more and to sign up click here 2022 GMC Hummer EV sport utility truck GM General Motors is increasing and accelerating its rollout of all-electric vehicles as the automaker attempts to compete against industry leader Tesla as well as an influx of new competitors in the emerging......

Germany approves 2.3 billion euro purchase of Airbus helicopters – source

Reuters
FILE PHOTO: A logo of Airbus is seen at the entrance of its factory in Blagnac near Toulouse, France, July 2, 2020. REUTERS/Benoit Tessier/File Photo BERLIN (Reuters) – The German parliament’s budget committee approved a 2.3 billion euro (2.06 billion pounds) contract to buy 31 Airbus AIR.PA helicopters for the......

UK electric vehicle maker Arrival is going public via SPAC at a $5.4 billion valuation

CNBC
CNBC – For more and to sign up click here LONDON — British electric vehicle start-up Arrival announced Wednesday that it will go public through a merger with a U.S. blank-check company. This year has seen a flurry of SPACs, or special purpose acquisition companies, come to market as businesses......

Now that two highly effective Covid vaccines are within reach, we just have to get them to 7.8 billion people

CNBC
CNBC – For more and to sign up click here Pfizer and Moderna both released positive late-stage trial data this month showing their coronavirus vaccines were highly effective in preventing Covid-19. The news sent stock markets across the world soaring and gave business executives and world leaders some of the......

Baidu quarterly revenue beats, to buy JOYY’s domestic live streaming business for $3.6 billion

Reuters
FILE PHOTO: A employee uses his mobile phone as he walks past the company logo of Baidu at its headquarters in Beijing, August 5, 2010. REUTERS/Barry Huang/File Photo (Reuters) – China’s Baidu Inc BIDU.O reported third-quarter revenue above market expectations on Monday and said it would buy JOYY Inc’s YY.O......

PNC to buy U.S. operations of Spanish bank BBVA for $11.6 billion

CNBC
CNBC – For more and to sign up click here An ATM is shown at company headquarters for the PNC Financial Services at One PNC Plaza in Pittsburgh, Pennsylvania. Getty Images Spanish financial group BBVA has agreed to sell its U.S. business, BBVA USA Bancshares, to PNC Financial Services Group for $11.6......

Germany plans 22 billion euros in COVID aid for companies in first half of 2021, sources say

Reuters
FILE PHOTO: German Finance Minister Olaf Scholz speaks during a news conference to present the federal government’s 2021 draft budget and its longer-term spending plans, in Berlin, Germany September 23, 2020. REUTERS/Fabrizio Bensch/Pool/File Photo BERLIN (Reuters) – Germany expects to pay out 22 billion euros ($26 billion) in COVID-19 relief......

Cavs Lay Off 5% of Business Staff Same Week Owner Dan Gilbert’s Rocket Companies Posts $3 Billion Quarterly Profit

ClevelandScene
Friday, November 13, 2020 Cavs Lay Off 5% of Business Staff Same Week Owner Dan Gilbert’s Rocket Companies Posts $3 Billion Quarterly Profit Posted By Vince Grzegorek vgrzegorek@clevescene.com> on Fri, Nov 13, 2020 at 4:30 PM click to enlarge The Cleveland Cavaliers/Monsters/Canton Charge/Cavs Legion organizations laid off approximately 5% of......

Volkswagen hikes investment into autonomous, electric car tech to 73 billion euros

Reuters
FILE PHOTO: Technical employees work in the final inspection at the production line for the electric Volkswagen model ID. 4, in Zwickau, Germany, September 18, 2020. Picture taken September 18. REUTERS/Matthias Rietschel/File Photo BERLIN (Reuters) – Volkswagen VOWG_p.DE announced plans to spend more on digital technology, saying on Friday it......

DoorDash releases filing to go public, reports $149 million in losses on revenue of $1.9 billion through September

CNBC
CNBC – For more and to sign up click here DoorDash, the leading food delivery app in the U.S., filed its IPO prospectus with the Securities and Exchange Commission on Friday. The company will list its shares on the New York Stock Exchange under the symbol “DASH.” DoorDash reported $1.9......

Disney said Covid-related costs shaved $2.4 billion from parks’ operating income in latest quarter

CNBC
CNBC – For more and to sign up click here Views of the Disneyland theme park, still closed due to COVID-19 on July 11, 2020 in Anaheim, California. AaronP/Bauer-Griffin | GC Images | Getty Images While the majority of Disney‘s theme parks were open during the company’s fiscal fourth quarter,......

Alibaba, JD set new records to rack up record $115 billion of sales on Singles Day as regulations loom

CNBC
CNBC – For more and to sign up click here Singles Day 2020: Alibaba and JD rack up record $115 billion of sales Search quotes, news & videos Source – Click here for more To Return to the Main Aggregate News Page – click here...

China’s Alibaba says post-COVID Singles’ Day sales hit $74 billion

Reuters
A woman checks data of Alibaba Group’s Singles’ Day global shopping festival at a media center in Hangzhou, Zhejiang province, China November 11, 2020. REUTERS/Aly Song HANGZHOU, China (Reuters) – China’s Alibaba said on Wednesday orders on its e-commerce platforms during the Singles’ Day shopping extravaganza hit a record 498.2......

China tech giants have lost more than $250 billion in market value as regulatory concerns mount

CNBC
CNBC – For more and to sign up click here Jack Ma, CEO of Chinese e-commerce giant Alibaba, speaks during his visit at the Vivatech startups and innovation fair, in Paris on May 16, 2019. Philippe Lopez | AFP | Getty Images SINGAPORE — Shares of China’s top technology giants......

Singles Day: The billion dollar shopping event luring scammers

BBC
By Waiyee YipBBC News, Singapore image copyrightReuters image captionSingles Day is a shopping event created by Chinese online retailer Alibaba, which rakes in billions of dollars in sales every year Singles Day, the world’s biggest online shopping event, has kicked off with consumers estimated to spend billions of dollars –......

Chipmaker TSMC to set up Arizona subsidiary with $3.5 billion capital

Reuters
FILE PHOTO: The logo of Taiwan Semiconductor Manufacturing Co (TSMC) is seen on one of its office buildings in Tainan, Taiwan August 20, 2020. REUTERS/Ann Wang HONG KONG (Reuters) – Taiwan Semiconductor Manufacturing Co Ltd, the world’s biggest contract chipmaker, said on Tuesday its board had approved an investment to......

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