Global oil giant Royal Dutch Shell Plc is facing difficulty in paying off the National Iranian Oil Co (NIOC) for nearly $1 billion in crude oil deliveries, said a report by Reuters on Sunday, after EU and US financial sanctions on Iran severely restricted any forms of payment to the Islamic state.
A group of former Goldman Sachs employees in Japan are threatening legal action against the US financial giant, unless the company agrees to give them their jobs back or at least provide a better compensation package for what their “wrongful termination.”
“We are fighting for our jobs,” said a purported representative of the Goldman Sachs Japan Employee Union, during a press conference held at the Foreign Correspondents’ Club in Tokyo on Thursday.
Apple has an enviable problem: The tech giant has too much cash. After months of speculation, Apple’s chief executive Tim Cook has announced that the company will now pay a dividend and buy back $10 billion of its stock.
At a press conference yesterday, Apple chief executive Tim Cook and chief financial officer Peter Oppenheimer announced that the company will issue its first dividend since December 1995, a $2.65 per share quarterly payout from the 1st of July.
In its latest annual employee review process, sources have told Reuters that the Goldman Sachs Group is looking to reduce staff headcount in its four main divisions, including sales and trading, investment banking, wealth management and investing and lending.
China’s fifth largest bank, the Bank of Communications Co (BoCom), plans to sell up to 56.6 billion yuan ($8.9 billion) of its shares to 12 institutional investors – including the Chinese Ministry of Finance and HSBC Holdings – in what will be the world’s biggest private share sale since May 2011.
The publicly listed bank said that the move was intended to replenish its capital base, with the bank unlikely to seek further capital investment input for the next three to four years at least.
An executive director at Goldman Sachs’ London office has criticised his employers’ “toxic and destructive” culture as the primary reason for his resignation from the company, in a damning letter published in the New York Times on Wednesday.
Former US financial giants Lehman Brothers has finally exited from bankruptcy protection after its stunning collapse during the peak of the 2008 financial crisis, and will begin paying off its creditors starting from 17th April this year.
On Tuesday, the liquidators running Lehman Brothers Holdings announced that the company had finally been able to exit from its Chapter 11 bankruptcy filing in 2008; and was now headed towards a “complete liquidation” of its remaining assets, valued at $65 billion, in order to pay back its creditors.
Shares in Apple Inc has the potential to reach $1000 per share in the future, claimed the company’s co-founder Steve Wozniak during an interview with CNBC on Thursday.
Analysts at Ford Motor Co believe that the company could lose between $500-$600 million in its European auto sales market this year, as the ongoing debt crisis in the region continues to depress consumer spending.
“We’ve seen Europe get off to a tough start this year,” said Ford’s Chief Financial Officer Booth at the company’s global headquarters in Dearborn, Michigan. “We think Europe is much more likely now to be at the bottom end of the scale.”
Apple’s market capitalization traded past $500 billion yesterday, and its cult products like the iPad or iPhone sell for almost a thousand a pop. In shocking comparison, do you know how much an average Apple factory worker earns?
Apple’s business took some scrutiny during the recent news on Foxconn and their work integrity and social justice was questioned.
Following the New York Times’ exposé, Apple’s Tim Cook has promised to improve the working and living conditions for its hundreds of thousands of workers. But will it be enough?
