Business Economist
After years of complaints from investors that its sprawling corporate empire was hurting profits, General Electric decided to split into three independently managed companies. Its health care assets will be differentiated in 2023; energy and power will be combined and separated in 2024; and air transport must be the only priority today GE. The conglomerate has been in business for more than a decade. The decision to resign undoubtedly marks the end of the 20th century for titanium, the world’s most famous conglomerate, in the American business.
On the road
Rivian, manufacturer of electric vehicles Supported by Amazon, it had a successful stock debit on the Nasdaq. Its shares rose 30 percent above the offer price, bringing its market capitalization to more than $ 100 billion, more than Ford or General Motors. The company raised about $ 12 billion, making it the largest IPO In America after the listing of Alibaba in 2014.
At the opposite end of the car Hertsin the share price decreased by 10% on the first trading day after the company survived the bankruptcy.
Rejected by the General Court of the European Union, the lower court of the Court of Justice Google complains of a € 2.4 billion ($ 2.8 billion) fine imposed on the company by the European Commission in 2017 for anti – competitive practices in favor of its own peer – to – peer shopping service. As a ray of light for Google, which also complains about two other cartel shocks imposed in Europe, the court said a general search was not included in its ruling.
Rolls-Royce said it has received enough investment from private partners to begin construction of small modular reactors. nuclear power plants, In Britain. The government is participating in the project as part of its “green industrial revolution.”
Britannian economic growth slowed to 1.3 percent in the third quarter. As in other countries, supply chain problems are hampering recovery. GDP is still 2.1% lower than in the last three months of 2019.
Oil prices rose higher and the price of a barrel of Brent crude oil was again over $ 85. In America, the price petrol the pump reached an average seven-year high of $ 3.41 per gallon. California is still the most expensive state to fill your car with, and the average price of gasoline is $ 4.64 a gallon, according to the American Automobile Association.
The price of fuel is a big factor behind it America is raging inflation. The annual rise in the government’s consumer price index accelerated to 6.2 per cent in October from 5.4 per cent in September, the largest increase since the end of 1990. Persistent inflation pressures the Federal Reserve system to bring forward interest rates.
State relief
Meanwhile, the recruitment rate accelerated in America, with employers creating 531,000 jobs in October. It is closer to this year’s monthly average and comes after two months of slower-than-expected employment growth.
Government Sydney Airport agreed to purchase $ 23.6 billion ($ 17.5 billion) from a consortium of investors. The deal comes in the aviation industry when it is known that business is really on the rise after 20 months of the gloom of a pandemic. America reopened it borders for most travelers this week. Emirates, one of the world ‘s largest airlines, reported passenger numbers up 319% from April 1 to September 30 last year, although it still made a net loss in the first six months of this year.
After a little over a year as a listed company, McAfee agreed to buy from a consortium of private equity firms in a $ 14 billion deal. The security company is expected to focus entirely on the consumer market, as the corporate business was sold in July.
Consumers ’greedy appetite for ordering from home is fueling a wave of concentration in the industry. this week DoorDash, America’s largest food delivery platform, agreed to buy Wolt, based in Helsinki and operating in 23 countries, for € 7 billion ($ 8 billion).
ViasatIt will be taken over by a satellite company based in California Inmarsat, a British competitor that counts the U.S. Armed Forces among its customers for $ 7.3 billion. The merged entity is competing in an increasingly congested area to provide satellite broadband.
Once again, the market was scratching its head at the underlying motives Elon Muskin the latest trick when he asked his Twitter followers if he should sell 10% of his stake in Tesla to pay taxes as he examined Democrats ’proposal to tax unrealized capital gains. They said yes. Tesla’s share price weakened. Mr. Musk then began selling shares. He had planned to sell at least part of his stock before seeking advice from Twitterat.
This article appeared in this week’s “World” section of The World