Profitloss Centerstage Events

IKEA, closing its manufacturing site in the US, took center stage on Thursday, 18 July 2019 among all major events across the globe, and remains the highlight of this week's list of center stage events.
Picture Courtesy: Profit loss

Centerstage events of week 3

Ursula von der Leyen from Germany is elected as the...

Ursula von der Leyen from Germany is elected as the new President of the European Commission by the European Parliament. She becomes the first woman to hold this position in the history of the European Union. Von der Leyen will assume office on 1 November 2019, succeeding Jean-Claude Juncker.

Monday, 15 July, 2019

Callon Petroleum announces an all-stock deal to acquire Carrizo Oil...

Callon Petroleum announces an all-stock deal to acquire Carrizo Oil & Gas. Under the agreement, Carrizo shareholders will receive 2.05 Callon shares for each of their shares. The deal, valued at $3.2 billion including debt, aims to enhance Callon's position in the oil industry. However, Callon's stock falls sharply following the announcement.

Tuesday, 16 July, 2019

IKEA announces the closure of its only manufacturing site in...

IKEA announces the closure of its only manufacturing site in the U.S., located in Danville, Virginia. The company plans to shift operations to Europe due to lower production costs, resulting in the loss of approximately 300 jobs. IKEA states that importing goods from Europe will make its furniture products in North America more affordable, citing the high cost of raw materials in Danville as a contributing factor.

Wednesday, 17 July, 2019

Ramush Haradinaj, the Prime Minister of Kosovo, resigns after receiving...

Ramush Haradinaj, the Prime Minister of Kosovo, resigns after receiving a summons from the Kosovo Specialist Prosecutor's Office as a war crimes suspect. Haradinaj's decision to step down is driven by the ongoing investigation and legal proceedings regarding alleged war crimes committed during the Kosovo conflict.

Thursday, 18 July, 2019

The Walt Disney Company announces that "Avengers: Endgame" has become...

The Walt Disney Company announces that "Avengers: Endgame" has become the highest-grossing movie of all time, surpassing "Avatar," in terms of worldwide box office revenue, without adjusting for inflation. This achievement solidifies the success of the Marvel Cinematic Universe and highlights the strong performance of the film in attracting audiences globally.

Friday, 19 July, 2019

Boeing plans to set aside approximately $5 billion to compensate...

Boeing plans to set aside approximately $5 billion to compensate airlines affected by the prolonged grounding of the 737 MAX aircraft. The company also faces legal claims seeking compensation for the families of those who lost their lives in the two crashes involving the 737 MAX. Boeing's second-quarter earnings report will shed more light on the costs and the potential timeline for the aircraft's return to service.

Saturday, 20 July, 2019

The Indian Space Research Organization successfully launches Chandrayaan-2, India's second...

The Indian Space Research Organization successfully launches Chandrayaan-2, India's second lunar exploration mission. It aims to survey lunar water and become the first spacecraft to land on the lunar south pole, marking a significant milestone in space exploration.

Sunday, 21 July, 2019