The week began with a dispute between Kremlin-based Russian broadcaster RT and Britain’s NatWest Bank. The broadcaster accused the bank of closing its accounts without a proper explanation. Stick with Sentifi for further developments of this dispute.
NatWest Bank: Closes all Britain accounts of RT
The Royal Bank of Scotland Group later verified that the bank accounts remain open and operative, but in deed it is contemplating on the decision to close RT’s accounts. Many speculate that the decision is politically motivated, an effort from the bank to support British Foreign Secretary Boris Johnson’s idea of increasing pressure on Russia over its military campaign in support of Syrian President Bashar al-Assad.
Hasbro Inc.: Quarterly results beat estimates thanks to strong demand for Disney Princess
The toy company reported third-quarter net income of $2.03 a share, above the $1.74 per share estimates from Wall Street. The girls division was a big contributor to the upbeat earnings, with a 56.7 percent jump in net revenue thanks to a strong demand for Disney Princess, Frozen and Troll dolls. The company’s shares jumped 7.43 percent on the news.
Panasonic: Partners with Tesla for solar panel production
The joint production of solar panels between the two companies will start as early as 2017 in order to jump start the business through expansion abroad. Panasonic hopes to tap the sales network of SolarCity to cope with a slowdown in Japan’s solar market. The Japanese company is also partnering with distributors in the U.S. as it expects a sales growth stemmed from this partnership.
BASF: Shuts down production facilities in Germany after a blast
The explosion took place at a chemical complex in the city of Ludwigshafen, western Germany. It’s reported to have killed at least two people, injured several others and left two people unaccounted for. The company is still trying to determine the cause of the blast, while the authorities have ruled out the possibility of terrorism.
Caterpillar: CEO resigns at year’s end
CEO and Chairman Doug Oberhelman will resign sooner than expected, leaving the company battling a historic sales slump in the hands of company veteran Jim Umpleby. Following Oberhelman’s resignation, the company for the first time in a quarter-century will split CEO and chairman roles after investors and analysts demanded for a stronger check on the CEO’s power.
Orbital ATK: Successfully launches rocket after explosion two years ago
The rocket is now on route to the International Space Station, carrying with it 5,100 pounds (2,300 kilograms) of supplies, food and science equipments. The company’s shares went up 1.20 percent following the launch.
PepsiCo Inc.: Pushes to cut added sugars in beverages
The company is pushing to reduce the number of its sugary beverages in the next decade to cope with increasing soft drink and fruit juice tax. It stated that at least two-thirds of its beverage volume will have no more than 100 calories from added sugars per 12-ounce serving by 2025.
Cover Image: Evgeny Biyatov/Sputnik
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