Finance

Disney Cuts Profit by $1.4 Billion Withdraws Dividend Payment due to Pandemic

Entertainment Company Walt Disney Co. (DIS) has provided measures it will be taking so as to enable the company overcome the pandemic while maintaining losses at minimum levels possible. Disney has announced it will be reducing profit by $1.4 billion, the company said a large chunk of this loss will be coming from its theme […]

Norwegian Air to Convert Debts into Equity to Help Airline Survive Pandemic

Undoubtedly the airline industry around the globe is among the worst hit by coronavirus pandemic. The pandemic has seen reduced air traffic hence all airlines have most of their aircrafts grounded. Norway’s national carrier, Norwegian Air (NWC) will be converting its debts to equity as a measure to help the airline survive plunge caused by […]

Nokia Generates Some Q1 Profits Despite Pandemic

Finland based IT and telecommunications company Nokia Oyj (NOKIA) has revealed its first quarter results of the year for the three month period ended March 31. Despite the quarter being dominated by coronavirus pandemic, the tech company managed to generate some profit. In the quarter, Nokia generated profit of 1 euro cent per share, a […]

Stay at Home Orders Helps Microsoft Beat Q3 Estimates

Tech Company Microsoft Corporation (MSFT) has announced its third quarter results for the period ending March 31, in the results Microsoft surpassed profit, revenue and sales estimates by Wall Street. In the quarter, revenue of the company increased by 15% to $35.02 billion surpassing earlier Wall Street’s estimate of $33.66 billion. Microsoft generated a net […]

Angry Birds Maker Reports 75% Profit Increase in Q1 Results

Maker of widely known game ‘Angry Birds’ Rovio Entertainment (ROVIO) reported its first quarter results for the year generating an increase of about 75% in profit for the quarter. In the first quarter ended March 31, Rovio reported operating profits 13 million euros ($14.1 million), a significant increase from the 7 million euros the Finland […]

Adidas Sharply Misses Q1 Estimates Says Q2 May be Worse

Terrible First Quarter German based sportswear manufacturer Adidas AG (ETR: ADS) has reported plunged results for the first quarter of the year ending March 31. The company attributes losses to global breakout of deadly coronavirus which has brought economies to standstill more so in the sporting industry where the company thrives in. In the first […]

Embraer Facing Historical Crisis Without a Contingency Plan

Brazil based plane maker Embraer SA (EMBR3) is facing its toughest times in the history of its existence. Coronavirus pandemic has greatly affected airline industries globally, however Embraer is feeling the heat of the pandemic without a plan B. Before global outbreak of the pandemic U.S based Boeing Co (BA) had offered Embraer a commercial […]

Hertz Working to Restructure Debts Following Demand Decline in Car Rental

U.S based car Rental Company Hertz Global Holdings Inc. (HTZ) has announced its ongoing plans whereby the company is currently engaging debt restructuring experts in pursuit of viable options which the company can take after coronavirus pandemic to reinforce its financial outlook. Information from the company’s insiders indicates the global pandemic has forced demand of […]

YouTube Sued by Ripple due to Cryprocurrency Fraud

Alphabet Inc. (GOOGL) owned video streaming YouTube has been sued by Cryptocurrency Company Ripple citing the video viewing platform has failed to protect innocent clients from cryptocurrency frauds. Among ways in which these frauds are committed include using fake YouTube accounts to dupe unsuspecting victims into sending money with promises of false giveaways. According to […]

Neiman Marcus Set to File for Bankruptcy

U.S based chain of luxury department stores Neiman Marcus Group Inc. (NMG) is looking forward to file for bankruptcy this week according to sources with direct information of the matter. When this happens, Neiman Marcus will become the first American department store operator to go down during this tough economic times brought about by the global […]