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October 16, 2015

September 2015 – The Month In Charts: Corporate Adventures Dominate The News

by Vincent Flasseur.

Corporate moves and revelations were in the headlines in September, from Germany to China.

Volkswagen said it will repair up to 11 million vehicles and overhaul its namesake brand following the scandal over its rigging of emissions tests. New Chief Executive Matthias Mueller said the German carmaker will tell customers they would need to have diesel vehicles with illegal software refitted, a move which some analysts have said could cost more than $6.5 billion.

In Washington, U.S. lawmakers asked the automaker to turn over documents related to the scandal, including records concerning the development of a software program intended to defeat regulatory emissions tests. Volkswagen’s share price and market value plunged.

A year since it went public in the biggest stock listing ever, China’s Alibaba Group Holding Ltd has spent more than $6 billion on everything from an electronics store chain to a robot maker. As shares hover below their debut price, investors in the e-commerce giant wonder just when it will all pay off.

The seemingly scattershot approach to deals has left shareholders asking how Jack Ma’s baby, once the darling of bourses, analysts and investors alike, will pull new businesses together to manage a vital transition.

Twitter is working to rekindle growth after its latest quarterly results revealed the slowest rise in monthly average users since the company went public in 2013 – a performance that CEO Jack Dorsey at the time called “unacceptable.”

Some investors had expressed concerns about whether Dorsey could run both Twitter and Square, which he also co-founded. Square is expected to go public this year and Dorsey may have to devote substantial time courting investors for the IPO.

But others say Dorsey, 38, is a more effective leader now than in 2008, when he was fired from his first stint as Twitter CEO.

Deutsche Bank’s new boss John Cryan set about cleaning up Germany’s biggest bank, revealing a record pre-tax loss of 6 billion euros ($6.7 billion) in the third quarter and warning investors of a possible dividend cut. Write downs, impairments and litigation costs all contributed to the loss, the bank said. Cryan became chief executive in July with a promise to cut costs.

Here is the news in charts:

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c2 Alibaba’s share price has swooned since its $120 peak on Nov. 10, 2014, back down to the IPO level.

 

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