News That Matters

Tag: company

Ex-oil company director returning to face charges in Mexico

Ex-oil company director returning to face charges in Mexico

World
A plane carrying the former head of Mexico’s state-run oil company has taken off from Spain and is expected to land late Thursday in Mexico, where the man faces charges equivalent to money laundering, bribery and conspiracyByThe Associated PressJuly 16, 2020, 9:42 PM4 min readShare to FacebookShare to TwitterEmail this articleMEXICO CITY -- A plane carrying the former head of Mexico’s state-run oil company took off from Spain and was expected to land late Thursday in Mexico, where the former executive faces charges equivalent to money laundering, bribery and conspiracy. Prosecutors claim Emilio Lozoya took corruption to such lengths during his tenure as head of the state oil company Petroleos Mexicanos that he diverted bribe money intended for the former ruling party to buy a $ 1.9 millio
Stocks making the biggest moves after hours: Tractor Supply Company, Disney, Novavax and more

Stocks making the biggest moves after hours: Tractor Supply Company, Disney, Novavax and more

Finance
An empty road leads into a deserted Disney resort after it was closed due to the COVID-19 pandemic in Kissimmee, Florida on May 5, 2020.Daniel Slim | AFP | Getty ImagesCheck out the companies making headlines after the bell.Tractor Supply Company — The farm supplies retailer's stock shot up 7% in extended trading after the company provided its financial outlook for the second quarter of 2020 at a time when many companies are withdrawing guidance. Tractor Supply said it expects "record-breaking" sales and earnings, as well as comparable-store sales growth of 20% to 25%. The company's stock is up 46% since March 16 and has been the best-performing retailer in the S&P 500 during that time. Disney — The entertainment giant's stock climbed 1% in extended trading after the company
Climate change: Study pours cold water on oil company net zero claims

Climate change: Study pours cold water on oil company net zero claims

Science
Claims by oil and gas companies that they are curbing their carbon emissions in line with net zero targets are overstated, according to a new review. The independent analysis of six large European corporations acknowledges they have taken big steps on CO2 recently.In April, Shell became the latest to announce ambitious plans to be at net zero for operational emissions by 2050.But the authors say none of the companies are yet aligned with the 1.5C temperature goal. Scientists argue that the global temperature must not rise by more than 1.5C by the end of the century if the world is to avoid the worst impacts of climate change.The research has been carried out by the Transition Pathway Initiative (TPI), an investor-led group whic...
Facebook invests $5.7B into Indian tech company

Facebook invests $5.7B into Indian tech company

World
April 22 (UPI) -- Facebook has announced that it is investing $ 5.7 billion into Jio Platforms, an Indian technology company. The U.S. social media corporation said Tuesday in the announcement that the deal makes it Jio's largest minority shareholder with a 9.99 percent equity stake. Jio Platforms is a technology company that encompasses several services, including Reliance Jio Infocomm Limited, a telecommunications company it says has more than 380 million subscribers. "This investment underscores our commitment to India and our excitement for the dramatic transformation that Jio has spurred in the country," David Fischer, Facebook's chief revenue officer, and Ajit Mohan, the company's vice president and managing director for India, said in a statement. The pair said Jio has brought mo...
Android co-creator’s phone company Essential to close

Android co-creator’s phone company Essential to close

Technology
Essential, the phone company launched by Android co-founder Andy Rubin, has announced its closure.Established in 2015, it had planned to release several phones, a smart home speaker and its own operating system.But it only ended up releasing one handset, the Essential Phone, and a few accessories for it.It had been working on an unusual super-slim smartphone called Gem but said in a statement that it had "no clear path forward" to deliver it. "Our vision was to invent a mobile computing paradigm that more seamlessly integrated with people's lifestyle needs," the company said in a statement."Despite our best efforts, we've now taken Gem as far as we can and regrettably ha...