Transfin.
HomeNewsGuidesReadsPodcastsVideosTech
  1. News
  2. Explained

Indra Nooyi PepsiCo CEO Steps Down et al.

Professor of Financial Economics and Part-time Value Investor, Transfin.
Aug 6, 2018 12:55 PM 2 min read
Editorial

End of Day Wrap-up (Monday / Aug 6, 2018) #IndraNooyi #PepsiCo #CEO #ONGC #ArgoMining #China #India #farmsubsidy #HSBC #SoftBank #VisionFund #Flipkart #Transfin

Editor's Comment: Indra Nooyi to step down as PepsiCo CEO after 12 years of leading the food and beverage giant. She will be succeeded by Ramon Laguarta, who was promoted to President last year.

 

ONGC Board approves sale of entire stake in Pawan Hans. After repeated offers of sale by Department of Disinvestment and Public Asset Management (DIPAM) and no recipients to the offer, ONGC has decided to sell its entire stake in Pawan Hans, which means complete privatization. 

 

UK-based cryptocurrency mining services company, Argo Mining, first crypto company to be listed on London Stock Exchange; raises £25mn via IPO. A total of 156,250,000 shares were placed (representing 53.2% of the company’s issued capital on admission) at 16 pence, valuing the company at a market cap of 47 million pounds.

 

China and India have demanded at WTO for abolition of farm subsidies provided by US, Canada and EU. Both countries have proposed that these countries abolish their $160bn of trade distorting farm subsidies given to products like cotton, wool and tobacco.

 

HSBC Holdings Plc reports 4.6% rise in pre-tax profits in interim earnings report to $10.7bn. HSBC have been investing to win new customers, increase our market share, and lay down the foundations for consistent growth in profits and returns.

 

Softbank Q1 operating profit rises 49% to $6.42bn, boosted by gains from its Vision Fund as it sold its stake in Flipkart. The Vision Fund has individually contributed $2.2bn over the same period. Softbank had close to 20% stake in Flipkart before selling it to Walmart in May 2018.