A decline in its revenue for the second quarter was reported by the United States based office-sharing startup WeWork with the emergence of the Delta variant of the coronavirus slowed down the recovery of the company in the first half of the year. The on-going pandemic re-emergence in parts of the world brought down…
The answer to the questions of whether the entertainment giant Walt Disney Co can keep its parks open for the rest of the year will be the most crucial to whether the company will be able to sustain a recovery in its theme parks business. The company expects all of its employees in its theme…
The Swiss-based soft drinks bottler Coca Cola HBC has agreed to invest to take over a majority stake in Coca-Cola Bottling Company of Egypt in a deal worth $427 million. Coca Cola HBC earlier reported a large growth in its profits for the first half of the year, The investment will be made through a…
Chinese search engine giant Baidu beat Wall Street estimates for its latest completed quarter as the company’s financials were driven up by a rebound in advertising sales and stronger demand for the artificial intelligence and cloud products offered by the company. The current Chief Financial Officer (CFO) of the company, Herman Yu, has been appointed…
Those customers who would be injured or suffer property damage from defective products that are sold by others on its e-commerce platform in the United States would be compensated by Amazon.com Inc, the largest e-retailer of the world said on Tuesday. This new policy is aimed at reducing litigations against the company. The largest…
Following reporting of better than expected earnings for the latest completed quarter, the CEO of Tyson Foods Inc Donnie King said on Monday that the pace of increase of prices by the company for its chicken and prepared foods products is unable to keep paced with the rising costs for raw materials such as grain.…
A manager of the Chinese technology giant Alibaba is set to be sacked by the company over allegations of rape, claimed multiple reports quoting information from a company memo. Two other bosses who failed to act on the allegation have resigned, according to a letter from the chief executive of the company Daniel Zhang to…
PepsiCo Inc signaled its intentions to further simplify its product range and shift away from high-sugar drinks through the selling of its Tropicana and other juice brands in North America in a deal worth $3.3 billion to the French private equity firm PAI Partners, the beverage giant said on Tuesday. The orange juice maker had…
Amazon.com Inc got a major victory in India’s top court in relation to a dispute wherein the e-commerce giant sought to prevent its partner Future Group from selling $3.4 billion in assets to Amazon’s rival Reliance Industries. According to analysts, this latest tussle that also involves two of the richest individuals of the world –…
The second quarter results of Adidas were significantly impacted by a boycott of Western brands by Chinese consumers, the company reported while also reporting hit to the quarter’s business because of closure of factories in major supplier Vietnam due to a fresh outbreak of Covid-19 infections. Despite this, its forecast for the entire year with…
