Category: parent

  • EV maker VinFast’s losses heap pressure on parent Vingroup as foreign investors sell

    Written by Francesco Guarascio and Phuong Nguyen HANOI (Reuters) – Vietnam’s Vingroup faces renewed scrutiny over its strategy to support loss-making electric car maker VinFast, with its shares near multi-year lows as foreign investors sell off and borrowing costs rise. Pressure on the company, a household name in Vietnam with…

  • Google parent Alphabet Q3 earnings deliver double digit revenue growth

    Alphabet, Google’s parent company, topped Wall Street’s revenue targets Tuesday in third-quarter financial results that showed strong growth in the company’s core businesses. The company said revenue grew 15% to $88.3 billion in the third quarter, exceeding Wall Street targets of $86.3 billion. Meanwhile, Alphabet’s focus on keeping costs under…

  • Quorn parent company suffers £63m loss as demand for plant-based products falls

    Marlowe Foods, the parent company of plant-based brand Quorn, has announced a loss of £63m as demand for meat alternatives continues to decline. Sales fell by 6.9% to £205 million in the last financial year, prompting the company to cut nearly 100 jobs as part of a restructuring programme. Quorn…

  • Silicon Valley Bank’s former parent secures approval to end bankruptcy

    Justin Sullivan/Getty Images News SVB Financial Group (OTC:SIVBQ), the former parent company of failed Silicon Valley Bank, received permission from a U.S. judge on Friday to distribute its assets to its creditors and close its bankruptcy, Reuters reported. According to the report, the bankruptcy plan includes: Provides for the establishment…

  • Bankrupt crypto lender Genesis gets OK to return billions in tokens and cash to creditors, meaning parent firm DCG ‘is out of the money’

    Bankrupt cryptocurrency bank Genesis Global Capital has won court approval for its plan to distribute billions of dollars in digital assets and cash to creditors, overcoming a legal ruling. challenge It was introduced by the company’s parent cryptocurrency group. Judge Sean Lin said late Friday that he will confirm Genesis’…