UniCredit and Citigroup are in talks to sell their Russian divisions to local financial institutions.
In particular, Interros of Vladimir Potanin, which had previously bought 35% of
Tinkoff Group, claimed UniCredit's business.
Mandy Op.
Saudi Aramco's first-quarter net profit rose 82% to $39.5 billion, the company said
Saudi Aramco's hydrocarbon production in the first quarter was 13 million
barrels of oil equivalent per day, the company said.
Tech companies have asked the U.S. Supreme Court to block a new Texas law
At issue is a law prohibiting social networks with more than 50 million monthly
active users from blocking members based on their political views.
Meta, Twitter and Google, filed an emergency request to the U.S. Supreme Court
to suspend a Texas law that prohibits major social networks to block
Apple is testing a smartphone without a Lightning port
The company said that future models may be produced with the more common USB-C
charging port. Apple smartphones without Lightning may not go on sale until
2023.
Carvana predicts significant revenue in 2023
The online used-car retailer laid out plans to cut spending on advertising,
expansion and other areas to offset falling demand.
The forecast comes days after Carvana said it would lay off 12% of its
employees.
Ups and downs: Lyft slowed down and CarParts gained momentum
Here's a recap of the week. We've reviewed the companies whose stocks have seen
the sharpest movement these days.
📈 Online auto parts retailer CarParts was one of this week's growth leaders.
Their stock is up 37.7% .
Investors were pleased with the retailer'
SEC head equates crypto-assets with securities
The SEC will seek to gain control over regulation of the crypto sector, which
could entail severe restrictions.
"Token purchases are investment contracts. Under U.S. law, an investment
contract involves "investing money in a common enterprise with a reasonable
expectation of profit from the efforts of others,
Siemens leaves Russia for political reasons
The German industrial-technology group said Thursday it is ending its
involvement in the Russian economy. Siemens is currently the latest
multinational company to announce an exit from Russia and related losses.
In the second quarter of 2022, the company's losses totaled about $630 million.
The company cites the
Election crisis: 6 Republicans subpoenaed
A House committee on Jan. 6 is issuing subpoenas to five Republican congressmen,
including House Minority Leader Kevin McCarthy
The committee wants to question McCarthy about his ties to Trump after the Jan.
6 attack on the Capitol.
Volkswagen plans to enter the electric pickup market in the U.S.
According to Reuters sources, the German automaker will invest about $106
million in its new Scout brand. The concern will create an independent company
with production starting in 2026.
VW Group CEO Herbert Diess said that "electrification presents a historic
opportunity to enter the U.S. pickup truck market.