Category: parent
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EV maker VinFast’s losses heap pressure on parent Vingroup as foreign investors sell
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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…
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Google parent Alphabet Q3 earnings deliver double digit revenue growth
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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…
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Quorn parent company suffers £63m loss as demand for plant-based products falls
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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…
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Silicon Valley Bank’s former parent secures approval to end bankruptcy
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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…
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Bankrupt crypto lender Genesis gets OK to return billions in tokens and cash to creditors, meaning parent firm DCG ‘is out of the money’
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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’…