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US And TikTok Want A Quick Timeline With A Decision On A Possible Ban By December 6 05/18/2024

Tesla to invest over $500 million to expand its network of EV fast charging stations 05/13/2024

UK authorities cut stake in NatWest bank below 27 per cent 05/14/2024

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Business & Finance

Japan to send $2M in aid to victims of Hawaii wildfires

According to the Japanese Foreign Ministry, the assistance will be given via the American Red Cross and the Japan Platform as a measure of relief for the disaster's victims. The Japanese government will provide $2 million in help for those impacted by the devastating fires on the Hawaiian island of...

Carlsberg posts profit in the first half 2023 after loss in 2022

Carlsberg generated a net profit of $322 million during the first six months of the year. According to the company's financial documents, Carlsberg Group, one of the largest breweries in the world by shareholders, reported a net profit of DKK 3.495 billion ($322 million) in the first half of the...

Tesla to launch cheaper versions of S and X models in North America

The specifications of the new electric cars have been streamlined. More affordable versions of Models S and X of Tesla's electric vehicles will go on sale in North America, the business stated on its website. The new electric vehicles feature simpler specs, such as a shorter range and slower...

Australian court fines Dell $6.5M for defrauding consumers

The business sold more than 5.3 thousand monitors at an inflated price. The Australian federal court fined the local branch of American computer giant Dell $6.5 million for selling displays at an unreasonable premium, said the state commission on protecting competition and consumer rights (ACCC)....

In A Global Drive, BYD Exhorts China's Automakers To Band Together And "Demolish The Old"

A patriotic appeal to unite the industry and "demolish the old legends" of the international market made by China's top-selling automaker has gone viral, garnering praise as well as a reprimand from a competitor. BYD celebrated the development of China as a global auto manufacturing...

Alibaba's net profit doubles in Q1

The online retailer Alibaba increased its net profit to $4.735 billion. Alibaba, the largest Internet company in China, reported in a press release that its net profit, attributable to owners of common shares, climbed by 51% year over year to $4.735 billion at the end of the first quarter of fiscal...

Rivian Increases Its Objective For EV Manufacturing In 2023 And Offers Assurances About Liquidity

Rivian Automotive increased its full-year production forecast, and the company's CEO claimed that as long as expenditures are kept in check, the electric vehicle manufacturer will have enough cash to endure until 2025. After the data were released, Rivian's stock initially increased by...

PayPal launches its own stablecoin

PYUSD is backed by US Treasury securities, dollar deposits, and other cash equivalents. PayPal USD (PYUSD) by the largest debit electronic payment system in the world is the first stablecoin (a cryptocurrency whose rate is stabilized by connecting its quotes to traditional currencies or...

Aramco Q2 Earnings Decline 38% To $30.1 Billion Yet Dividend Increases

Aramco, the state-owned oil company of Saudi Arabia, announced a nearly 38% decline in second-quarter net profit on Monday due to lower oil prices and thinner margins in the refining and chemicals industries. However, it increased its dividend by adding a new performance-linked payout. ...

Fintech startup Revolut to close cryptocurrency operations in the US

According to Decrypt, Revolut has decided to cease bitcoin operations in the US in the fall. The fintech business made this choice as a result of legislative changes and unpredictability in the American cryptocurrency sector. Revolut, a fintech business founded by Russian-born Nikolay Storonsky,...