The most important news from last week 4.7.2022
BMW will start 2 billion euros buyback in July
BMW authorized the initiation of a share repurchase program of up to 2 billion euros, which will begin in July, the automaker announced. The majority of the funds will be allocated to ordinary shares (1.85 billion euros), with the remainder allocated to preferred shares. According to BMW, the initiative will be finished by 31st of December 2023, with more specifics to be released before it begins. BMW is just another one on the list of companies that decided for buyback programme.
Google will pay 90 million dollars fine
Google has agreed to pay app developers 90 million USD to resolve a legal dispute over money made when developing apps for Android smartphones and luring users to make in-app purchases. In a complaint filed in federal court in San Francisco, the app creators accused Google of effectively closing the app ecosystem and redirecting most payments through its Google Play billing system with a 30 percent default service fee.
Gazprom shares fell after dividends were cancelled
Gazprom, the Russian gas giant, has opted not to pay dividends on last year's earnings, the first time since 1998, sending its shares down over 30%*. Gazprom would rather concentrate on Russian regional gasification, heating season planning, and paying more taxes. Gazprom shares fell more than 29%* as a result of the decision, which rejected a board proposal to pay a dividend of 52.53 roubles per share, the company's largest pay-out.
Movement of Gazprom in the last five years. (Source: Trading Economics) *
Pfizer signed new 3,2 billion USD Covid vaccine deal
Pfizer Inc and partner BioNTech SE announced a 3.2 billion USD contract with the US government for 105 million doses of its COVID-19 vaccine, which may be delivered as early as this summer. The agreement includes shipments of an Omicron-adapted vaccine that has been retooled. Vaccines targeting the Omicron strain that became prevalent last winter are being developed by pharmaceutical companies. The average price per dosage under the current agreement is well over 30 USD.
Apple raised prices in Japan for nearly 20%
Apple Inc has increased the price of its flagship iPhone in Japan, where the yen is sinking, and inflation is increasing. The entry-level iPhone 13 from the Cupertino, California-based company now costs 117,800 yen (870 USD), according to Apple's website, up from 99,800 yen earlier. With the dollar up 18 percent year to date versus the yen, the increased cost of the iPhone, which dominates Japan's smartphone industry, comes as customers' wallets are being stretched by price increases.
Sources: CNBC, Reuters, Investing, Trading Economics, Apple
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