Collapse of shares of Meta (Facebook) became the largest one-day drop in the value of a company in the history of the U.S. stock market. The collapse of Meta (formerly Facebook) stock by more than 25 percent on Thursday, Feb. 2, was the largest single-day drop in the company's market value in the...

International diamond corporation De Beers almost doubled its diamond sales in the first business cycle this year (from January 17 to February 1) from the previous cycle to $660 million, according to preliminary company figures. The previous, tenth business cycle of 2021 lasted from December 6 to...

American holding company Alphabet Inc, which owns Google, increased net profit by 1.8 times in 2021 compared to the previous year - up to 76.033 billion dollars, the holding company said in a release. Diluted earnings per class A, B and C shares were $112.2 at the end of the reporting period,...

Forbes richest crypto-billionaire Sam Bankman-Fried's cryptocurrency exchange FTX has increased its valuation to $32bn, a valuation it received in a new $400m funding round. FTX has raised almost $2bn in the last six months. FTX Trading, owner and operator of cryptocurrency exchange FTX.com, has...

Vodafone is partnering with Intel Corp. and other silicon manufacturers to develop its own chip architecture for the fledgling OpenRAN network technology, with the goal of weakening incumbent telecoms equipment suppliers' grip.   OpenRAN allows operators to mix and match providers in their...

Samsung Biologics will buy US manufacturer Biogen's stake in the Samsung Bioepis joint venture for $2.3bn. The company is expected to pay the money over two years, but will take ownership after the first $1bn tranche. Samsung Biologics will buy US neurological disorder drug maker Biogen's stake...

The leading electric scooter manufacturer of India by revenue, Ather Energy, is soliciting funding to increase its annual production capacity to one million scooters over the next three years as the company reacts to increasing demand, said reports.   Since its creation in 2013, Ather has...

A new name for the luxury carmaker Mercedes-Benz Group AG would be formally made by its owner Daimler AG on February 1. It was almost a year ago that the truck and bus business unit of Daimler was spun off into a separate company. The CEO of the company is optimistic that this latest move will open...

French LVMH Moet Hennessy - Louis Vuitton's net profit attributable to the group increased 2.6-fold to €12.036 billion in 2021, the company said in a statement. Revenue rose 1.4 times to €64.215 billion. The fashion and leather goods and selective retailing divisions accounted for the largest share...