Chinese online retail heavyweights are waging an unprecedented funding war to dominate the burgeoning “instant retail” market, offering 30- to 60-minute deliveries and bleeding cash to win consumer loyalty. Alibaba and JD.com have each committed an eye-popping 10 billion yuan in subsidies to...

German pharmaceutical and chemical company Bayer announced plans to reduce its workforce by over 200 employees as part of restructuring its crop protection products division in Germany. Specifically, Bayer will cease manufacturing active ingredients for plant protection products at the Dormagen...

According to the Financial Times sources, OpenAI is negotiating a new partnership agreement with Microsoft that would facilitate an IPO while safeguarding the software giant's access to cutting-edge artificial intelligence models. Microsoft has poured over $13 billion into OpenAI, making it the...

China's XPeng, a major electric vehicle manufacturer, is reportedly evaluating an initial public offering for a subsidiary focused on the creation of "flying" electric cars, Xpeng Aeroht, according to Bloomberg's sources. They mentioned that the company has asked banks to join in the IPO, which...

Swiss pharmaceutical firm Novartis AG announced it is acquiring US-based Regulus Therapeutics, which focuses on developing microRNA-based therapies. The agreement includes an initial payment of $0.8 billion with a potential extra payment of $0.9 billion contingent on Regulus obtaining regulatory...

The American financial firm Cantor Fitzgerald, overseen by Brandon Lutnick, the son of U.S. Secretary of Commerce Howard Lutnick, intends to establish a $3 billion bitcoin fund in collaboration with cryptocurrency firm Tether, SoftBank, and crypto exchange Bitfinex, as reported by the Financial...

The European Commission (EC) has imposed a fine of €500 million on Apple and €200 million on Meta for breaching the Digital Markets Act (DMA), according to the regulator's website. The relevant decisions were made following an extensive discussion with the companies about the situation, during...

The leader of Meta Mark Zuckerberg, Oracle CEO Safra Catz, and JPMorgan Chase Chairman James Dimon sold shares worth millions prior to U.S. President Donald Trump's announcement of raised import tariffs, Bloomberg reports. The agency cites the insider trading information provider Washington...

In the first quarter of 2025, U.S. Bancorp reported a 30% rise in net income and a 3.6% increase in revenue, with both metrics surpassing analysts' forecasts. The bank announced a net income of $1.709 billion, or $1.03 per share, for the January-March period, rising from $1.319 billion, or $0.78...