All articles tagged with #international business
The article explores how the Trump family has leveraged their political power to expand their global business interests, raising concerns about corruption, conflicts of interest, and the potential impact on international relations and democracy.
A Wells Fargo banker, Chenyue Mao, who was barred from leaving China due to a criminal investigation, has been allowed to return to the US following US-China negotiations, marking a potential easing of foreign business restrictions in China amid broader trade talks.
A Wells Fargo executive, Chenyue Mao, has been barred from leaving China due to a criminal investigation, raising concerns about the risks of Western business travel to China amid increasing exit bans and legal uncertainties. Wells Fargo is working to resolve the situation, and the incident highlights broader issues of transparency and legal enforcement in China.
French defence companies are planning to establish a presence in Ukraine as part of a broader effort to deepen military cooperation with the country. This move reflects a growing trend of international investment in Ukraine's defense sector and signals a potential shift in the country's defense industry landscape.
Shopify President Harley Finkelstein emphasized the company's focus on international business as a significant area of growth, aiming to make global sales as accessible as local ones for its clients. The e-commerce platform has expanded its customer base to include larger brands and is also targeting business-to-business sales. Despite beating Wall Street's expectations in quarterly earnings, the company's mixed guidance for the current period led to a drop in shares.
McDonald's reported its first quarterly sales miss in nearly four years, partly due to weak growth in its international business division, which was impacted by boycotts stemming from its perceived support of Israel during the Israel-Gaza conflict. The fast food chain's global sales grew by just under 4% in the fourth quarter, down from 8.8% in the previous quarter, and below its annual average. The corporation benefitted from price inflation, recording its strongest sales growth in the United States, while also growing sales in the UK, Germany, and Canada. However, its US business saw weaker sales growth than hoped, as customers on lower incomes ordered less food and opted for cheaper items on the menu.
Yandex, the Russian tech pioneer, is selling its operations in Russia at a steep discount of just over $5 billion to its Russian managers and Lukoil, reflecting a 50% discount imposed by Moscow on companies from "unfriendly" countries. The sale comes amid challenges faced by international companies in unloading their Russian businesses following the invasion of Ukraine and subsequent sanctions. The deal transfers Yandex's core business to Russian management and Lukoil, while the parent company retains its international businesses. Exiting Russia poses hurdles for businesses, including finding partners not under U.S. or European sanctions and avoiding banned financial transactions.
CNBC's Jim Cramer is optimistic about the future of oil service stocks, particularly SLB and Halliburton, following their strong earnings reports which highlighted robust international business and increased efficiency. Both companies have seen stock gains post-earnings, with SLB's 10 consecutive quarters of double-digit growth and a 10% dividend raise signaling confidence in future success. Cramer's concerns about efficiency were alleviated by Halliburton's explanation of improved margins and increased revenue from each well, leading him to believe that these stocks have room to climb further.
Bob Bakish, CEO of Paramount Global, expressed confidence that a deal will be reached to end the ongoing actors strike by SAG-AFTRA and the Alliance of Motion Picture and Television Producers. Despite negotiations breaking down last week, Bakish believes the actors are willing to return to the table and is optimistic about reaching a resolution in the near term. He also discussed Paramount's focus on its international business, particularly its profitable content licensing operations, and emphasized the studio's commitment to its streaming platform Paramount+. Bakish highlighted the importance of a multifaceted approach to streaming that includes partnerships, stating that it is a more financially powerful way to tap into the total addressable market.
Governor Kevin Stitt and other Oklahoma officials are in France for the 2023 Paris Air Show, promoting Oklahoma's booming economy, growing workforce, and renowned aerospace and defense industry. The event attracts over 150,000 aerospace and defense executives, with many Oklahoma companies and organizations attending this year. Governor Stitt is meeting with companies interested in doing business with Oklahoma.