Frontier Airlines and Spirit Airlines agreed to merge in a deal valued at $6.6 billion, creating the fifth-largest airline in the country. Interestingly, the merger gives Frontier Airlines a 51.5% controlling stake in the combined airline. Spirit’s investors will receive 1.9126 shares of Frontier Airlines plus $2.13 in cash for each share they own, giving …
Inflation is a very serious issue for companies and McDonald’s is not an exception. The company’s former CEO made interesting comments about inflation and its impact on the company. He currently serves as an executive consultant to the chain’s franchise system. Ed Rensi said that inflation is driving every restaurant in the country “absolutely crazy”. …
McDonald’s Former CEO and His Stance Regarding Inflation Read More »
Amazon’s revenue rose by 9% in the fourth quarter and it reported a gain of almost $12 billion from its investment in Rivian. The company guided for first-quarter revenue of between $112 billion and $117 billion, below the average estimate of $120 billion. Fourth-quarter sales rose by 9.4% to $137.4 billion. That’s Amazon’s first period …
Amazon’s Revenue Rose by 9% in the Fourth Quarter Read More »
HeidelbergCement is one of the largest cement makers in the world. The company reached good results in 2021. It can match or even surpass last year’s growth in 2022. According to its CEO Dominik von Achten, it will likely present more ambitious CO2 reduction targets at a capital markets day in May. Dominik von Achten …
Exxon Mobil reached formidable results in the last quarter of 2021. The oil giant’s revenue rose more than 80% year over year during the quarter amid a rebound in oil and gas prices. With the company now in a stronger financial position, Exxon Mobil said it will begin to buy back stock during the first …
Electric carmakers are working hard to sell their models. Chinese electric carmakers sold a lot of cars in 2021 and 2022. Interestingly, Xpeng and Nio saw deliveries dip in January versus the last month of 2021 but still higher compared to a year ago. Xpeng delivered 12,922 electric vehicles in the first month, a more …
Xpeng and Nio delivered thousands of electric vehicles Read More »
The U.S. economy reached great results in the fourth quarter of 2021. It grew at a stronger-than-expected pace, but clouds ranging from the omicron variant to higher interest rates are gathering over the local economy. According to the U.S. Bureau of Economic Analysis, gross domestic product (GDP) rose at a rate of 6.9% in the …
U.S. Economy Rose by 6.9% in the Last Quarter of 2021 Read More »
The world’s wealthiest person revealed interesting details during Tesla’s fourth-quarter earnings call. Musk stated that Tesla won’t release any new models this year. Moreover, the company isn’t currently developing a $25,000 car. In his opening remarks, Elon Musk said the continuing chip shortage would make it impossible to release new models without resulting in fewer …
On Tuesday, the International Monetary Fund (IMF) released its report. The IMF downgraded its global growth forecast for 2022 as rising Covid-10 cases, supply chain disruptions, as well as higher inflation, hamper economic recovery. Its report contains many interesting details about the global economy. The fund said it expects global gross domestic product (GDP) to …
International Monetary Fund Changed its Position Read More »
Companies across central Europe are trying to adapt to the ever-changing environment. Let’s take for example Czech foundry Benes. The company has seen its energy bill double in 2021 and its finance director is racing to get client contracts rewritten so it can pass on some of the burdens. Thousands of companies across Central Europe …
Companies in Central Europe Are Struggling to Solve Issues Read More »
The state of the labor market is not ideal. For example, jobless claims took an unexpected turn higher last week in a potential sign that the wintertime omicron surge hit the labor market. Initial filings for the week that ended on January 15 reached 286,000. The result surpassed expectations. More importantly, the total was the …
Jobless Claims Reached Its Highest Point in Several Months Read More »
Several days ago, an underwater volcano erupted in Tonga. Unfortunately, the eruption caused strong waves and currents in many places, including Peru. The country demanded compensation from the Spanish oil giant Repsol after waves from a volcanic eruption in Tonga caused an oil spill described as the worst ecological disaster to hit Peru in recent …
How Peru Plans to Deal With the Worst Ecological Disaster Read More »
The pandemic devastated various industries all over the world. Nevertheless, the wealth of the world’s ten richest men doubled from $700 billion to $1.5 trillion since the beginning of the pandemic. In total, billionaires added trillions of dollars to their fortunes during the pandemic, according to Oxfam. Oxfam’s new report contains many interesting details about …
Billionaires Earned a Lot of Money During the Pandemic Read More »
Coal has a huge impact on the environment, and countries are trying to get rid of it as soon as possible. Despite its impact, China heavily relies on coal. In 2021, China’s coal production reached record levels as the government encouraged miners to ramp up their fossil fuel output to protect China’s energy supplies through …
The economy of China rose by 8.1% in 2021 as industrial production rose steadily through the end of the year and offset a drop in retail sales, according to the information released by the country’s National Bureau of Statistics. The gross domestic product (GDP) rose by 4% from a year ago, according to the statistics …
World’s Second-Largest Economy Grew by 8.1% in 2021 Read More »
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