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Revlon Inc declared Chapter 11 bankruptcy after being unable to handle its massive debt burden in the face of a supply chain crisis and rising inflation. The cosmetics conglomerate requested judicial protection in the Southern District of New York in late April, with assets reaching $2.3 billion. According to court documents dated June 15, the […]
Due to a persistent shortage of chips and other essential ingredients, some of the world’s largest tech and automotive businesses have had to reduce their goals for this year. Last year, roughly 540 metric tons of neon were consumed globally, primarily in semiconductor fabrication. Ingas and Cryoin, two Ukrainian enterprises, produce 45% to 54% of […]
According to a report in the UK media, Mukesh Ambani’s Reliance Industries is planning a joint bid for Britain’s well-known retail chain Boots with US buyout company Apollo Global Management. Boots, a major drugstore company in the United Kingdom, has over 2,200 locations and reputedly earns roughly 45 percent of its estimated GBP 6 billion […]
After the Indonesian government stated last week that all crude palm oil exports would be banned, a cooking oil crisis sparked by the Russian-Ukrainian war is now roiling both local politics and the global supply chain (CPO). While the export ban was expected to affect worldwide supplies, the cooking oil crisis in Indonesia has taken […]
One of the world’s largest food retail groups, Ahold Delhaize to acquire New York City’s online grocer FreshDirect. The Dutch grocery company Ahold Delhaize will acquire the majority share in FreshDirect, while private equity firm Centerbridge partners will buy 20% stake FreshDirect will retain its brand name and will also continue to independently operate out […]
Johnson Controls the global leader for smart and sustainable buildings announces the launch of a new flexible service suite to its customers in Middle East and Africa. The new flexible service has more than twenty customizable options, to serve the rising remote building management needs in Middle East and Africa. OpenBlue digital technology which will […]
The number of jobless claims rose by 70,000, but several sectors are ramping up hiring even as the coronavirus pandemic creates layoffs Amazon plans mass hiring. Many employees in the U.S. are holding their breath, waiting to see if their jobs will be the next to disappear as authorities order businesses to close and residents […]
Etihad Airways Credit permits a free cancellation and offers the original value of a booking to be used as credit towards their next trip Etihad Airways said on Thursday it is introducing Etihad Credit to give passengers the freedom to delay their travel plans as the coronavirus crisis continues to grip the world. Etihad Credit […]
Gold edged slightly higher on Monday after the United States and China imposed new tariffs on each others’ goods but a firmer dollar limited the precious metal’s upside. Washington began imposing 15% tariffs on a variety of Chinese goods on Sunday, including footwear, smartwatches, and flat-panel televisions, as Beijing began imposing new duties on U.S. crude. However, U.S. President […]
The ugly Christmas sweaters you’re eyeing might still see a tariff price hike before the holiday season, according to an industry group. In an attempt to save Christmas, President Donald Trump announced earlier this month that tariffs on some Chinese goods will be delayed until Dec. 15. Retail and department store stocks including American Eagle, Abercrombie and Macy’s all jumped […]
The years-long battle between Amazon and retail companies has spilled over into the shipping industry, with FedEx and UPS adjusting their strategies as the tech giant, once simply a customer, is now a major competitor. FedEx has announced two changes to its relationship to Amazon in recent months, including ending the ground delivery contract with the e-commerce pioneer. Meanwhile, UPS is exploring […]
In recent years, cryptocurrency has taken over the world by a storm. Everyone either wants to learn more about it or are worried about what the further virtual currencies hold for them. Though there are critics stating that cryptocurrency will either die its own death or be killed by big establishments that would want to […]
