COMPANIES

Smog is pictured over Lake Geneva in Switzerland in February 2017

Big Firms With $7 Tn Exit Climate Investment Pressure Group

JPMorgan Asset Management, which manages $3.1 trillion in assets, has not renewed its membership in Climate Action 100+, saying through a spokesperson that it will oversee its stewardship on climate change with companies with its bank staff.

Airbus Posts 11 Percent Profit Drop For 2023

Airbus CEO Guillaume Faury said the group had a "remarkable" 2023 with a takoff in sales and orders
The group, which delivered 735 aircraft last year despite supply chain problems, said it plans to deliver about 800 in 2024. It reached the mark in 2018 before the pandemic battered the aviation industry.
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BP bagged a net profit of $15.2 billion last year

BP Bags Bumper 2023 Profits, Rewards Investors

The annual results sparked fresh fury from the green lobby but herald a new era under new chief executive Murray Auchincloss, following the dramatic sacking of his predecessor Bernard Looney.
Critics argue that the 2015 takeover deliberately undervalued the construction firm's stock price

S. Korean Court Acquits Samsung Chief Over 2015 Merger Case

Yonhap news agency reported that the court said it did "not recognise intention to harm shareholders" through the merger, which critics had claimed was bad value and done mostly to ensure a smooth third-generational power transfer to Lee, a scion of Samsung's founding family.
Shell's net profit reached $19.4 billion in 2023

Shell Profit Tumbles On Lower Oil Prices

Post-tax profit slumped 54 percent after reaching an all-time high of $42.3 billion in 2022, when energy producer Russia's invasion of Ukraine sent oil and gas prices soaring, boosting earnings across the industry.
Tesla chief Elon Musk is the world's richest person, but a US judge ruled that he has been getting paid too much, voiding the entrepreneur's $56 billion compensation package from the electric vehicle maker

US Judge Voids Elon Musk's $56 Billion Tesla Compensation

The judge in Delaware Chancery Court ruled that the plaintiff, a Tesla shareholder named Richard Tornetta, was "entitled to rescission," approving the annulment of Musk's 2018 humongous compensation agreement worth as much as $55.8 billion.
Banco Santander posted strong earnings despite a windfall tax imposed by the socialist government

Santander Posts Record Profit In 2023 After Rate Hikes

Spanish banking giant Santander posted a record 11.1-billion-euro ($12 billion) net profit for 2023 on Wednesday as higher interest rates and a rise in global clients helped to cushion the impact of a windfall tax.
H&M chief executive Helena Helmersson said her job had been 'very demanding at times for me personally'

H&M Shares Tumble As CEO Steps Down

H&M chief executive Helena Helmersson announced Wednesday she was stepping down, sending shares in the fashion retailer tumbling as the Swedish company reported lower-than-expected profits in the fourth quarter.
Netflix says that despite the long strikes by actors and writers in Hollywood it has a strong line-up of content set for release in 2024

Netflix Subscribers Jump Despite Price Hikes

Netflix finished 2023 with slightly more than 260 million subscribers worldwide, with a profit of $938 million in the final quarter versus just $55 million in the same period a year earlier.
Reports said Sony was unhappy with Zee's performance since the merger was agreed in 2021

Sony 'Terminates' Indian Merger With Zee

Sony "terminated" on Monday the $10-billion merger of its Indian operations with local rival Zee Entertainment that would have created a new streaming giant in the world's most populous nation.
Epic Games chief executive says the Fortnite maker plans to challenge Apple's move to allow iPhone app makers to use alternate payment systems, but charge a fee on transactions nonetheless

Apple Loosens Grip On IPhone Apps - With A Catch

After a years-long legal battle, Apple says it will begin allowing iPhone app developers to use alternative payment systems -- but they will still have to pay fees and meet various conditions.
India's newest airline Akasa Air has ordered 150 Boeing 737 MAX planes

India's Akasa Air Orders 150 Boeing Planes: CEO

The deal is a shot in the arm for US aviation giant Boeing, which is under intense global scrutiny over its 737 MAX 9 jet, after a scare on an Alaska Airlines jet in early January when a panel came off mid-flight and forced an emergency landing.

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