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European businesses ask for two-year delay in introduction of AI law 07/04/2025

Fast food chain Raising Cane's surpasses KFC in US sales in 2024 07/01/2025

The US plans to limit AI chips supply to Malaysia and Thailand 07/07/2025

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Business & Finance

Victoria's Secret to change owner

The American company L Brands announced sale of its lingerie brand Victoria's Secret. The controlling stake will be sold to Sycamore Partners, a private investment company that will acquire 55% of Victoria's Secret. The deal will cost about $ 525 million. After the sale of shares, Victoria's Secret...

Walmart Reports Online Grocery Growth In Japan Where It Has Struggled For Almost 2 Decades

While the brick-and-mortar stores of the largest retailer of the world Walmart in Japan, having opened up about decades ago, continue their search for profits, the company has tucked into a sweet spot in the Japanese food market as its fast-growing venture was ranked third in a fairly nascent...

Foxconn To Cautiously Restart Its China Operations, Warns Of Revenue Hit Due To Coronavirus

While issuing a warning that revenues would be significantly impacted by the outbreak of the coronavirus in China, Apple Inc major supplier and vendor Taiwan's Foxconn said on Thursday that it has planned to "cautiously" reopen and restart production at its main factories in China. This...

Moller-Maersk receives $ 84 million net loss in 2019

Net loss of the Danish sea container carrier A.P. Moller-Maersk A/S amounted to $ 84 million in 2019, against a net profit of $ 2.98 billion a year ago, follows from the financial statements of the company. Revenue over the reporting period decreased by 1%, to $38.89 billion. EBITDA increased by...

OPEC+ cancels unscheduled summit due to coronavirus

OPEC has sent invitations to cartel members and their allies on the OPEC + deal for a meeting scheduled for early March in December, Bloomberg reports citing sources. The agency concludes that the cartel rejected Riyadh’s idea to hold an emergency summit in February due to the situation with...

US Overlooked HSBC’s Misconduct In Exchange Of It Helping In Probe Against It, Allege Huawei

Lawyers standing in court for the Chinese telecoms giant Huawei Technologies have Alleged that the prosecutors in the United States who probed the company had intentionally some very obviously visible violations of the US sanctions on Iran by HSBC Holdings, after the united Kingdom based bank...

Coronavirus Outbreak In China Has Hit Its Business, Warns Adidas And Puma

The outbreak of coronavirus in China is hurting the sale of German sportswear makers Adidas and Puma because of closure of stores in the country as well as a reduction in the number of Chinese tourists shopping from stores outside of China while travelling, both the companies have warned. ...

While Apple, Xiaomi, Others Hit By China Virus Problems, Samsung Stands To Benefit

It has been more than a decade that the South Korean tech giant Samsung Electronics has invested in building production units for its smartphones in low cost Vietnam and now in the wake of the coronavirus outbreak in China, the company now stands to benefit as its major rivals including Apple...

Glencore posts $404M net loss in 2019

Swiss commodity trader Glencore in 2019 received a net loss attributable to shareholders of $ 404 million, compared with a profit of $ 3.4 billion a year earlier, the trader’s statements reads. The diluted loss per share was $ 0.03 versus $ 0.24 a year earlier. The company's revenue was reduced by...

New Study Claims 5 Million Companies Worldwide Could Be Impacted By Coronavirus

The Chinese provinces most impacted by the coronavirus virus are the ones that are most intricately linked to the global business network, found a recent study that was issued in the form of a special briefing by global business research firm Dun & Bradstreet, after analyzing the role played by...