UBS Group AG modified its estimate of net income for 2023 because of an update to Credit Suisse's asset valuation at the time of the bank's acquisition. The asset valuation was lowered by $1.2 billion, per the UBS analysis. In this context, the $27.7 billion recorded in conjunction with the...

Sam Bankman-Fried, the former millionaire crypto CEO convicted of fraud and money laundering last year, will appear in court in New York on Thursday to be sentenced.   The 32-year-old will undoubtedly face jail time; the length of his sentence is unknown. The incident has reignited debate...

Global smartphone shipments are likely to increase by 3% this year as lowering inflation assists a demand recovery in emerging nations and the incorporation of generative AI pulls buyers to luxury handsets, according to a Counterpoint Research analysis released on Thursday.   Global...

Bloomberg: By 2030, Volvo plans to transition to electric vehicles. According to Erik Severinson, head of new vehicle and operational strategy at Volvo, Sweden, the business has assembled its final diesel-powered car and now intends to produce exclusively electric vehicles by 2030, as reported by...

To protect its interests in the electric vehicle sector, China has started dispute settlement procedures against the United States at the World Trade Organisation, the Chinese mission announced on Tuesday and the WTO verified. Under the U.S. Inflation Reduction Act (IRA), China said it was...

Video game retailer GameStop reported lower fourth-quarter revenue due to sluggish customer spending in an uncertain economy and more competition from e-commerce companies. GameStop also said it has reduced expenses by eliminating an undisclosed number of positions.   The company's shares,...

In order to reduce credit and debit card costs for retailers, Visa and Mastercard came to an estimated $30 billion settlement. Some of the savings were probably passed on to customers in the form of lower prices.   One of the biggest antitrust settlements in American history was unveiled on...

As the EU considers a new agreement between Germany's Lufthansa and Italian rival ITA Airways, the CEOs of Ryanair and British Airways owner IAG stated on Wednesday that further airline consolidation in Europe is required to maintain the industry's competitiveness.   IAG CEO Luis Gallego...

AstraZeneca, a pharmaceutical business, announced in a news release that it has signed a deal to purchase Fusion Pharmaceuticals, a US-based company that specializes in the development of radiopharmaceuticals. Each Fusion share will receive $21 in cash from AstraZeneca. If certain milestones are...