
Iris Barker
Economics
Global chip sales growth in August hit the highest in 2.5 years
According to a press release from the Semiconductor Industry Association (SIA), global semiconductor revenue increased by 20.6% to $53.12 billion in August, rising from $44.04 billion in the previous year'sโฆ
Published on October 8, 2024
By Iris Barker
Management
Albemarle changes operating structure to cut costs
The world's biggest lithium producer, Albemarle, which is based in the US, intends to streamline its operations in response to evolving market conditions.
Published on October 8, 2024
By Iris Barker
Economics
Norway joins the EU sanctions against Belarus
According to the Norwegian Foreign Ministry website, Norway has become a part of the EU sanctions towards Belarus.
Published on October 8, 2024
By Iris Barker
Economics
Barclays: Quotes of European carmakers have bottomed out
The value of stocks of European auto companies has dropped significantly in recent months due to worsening financial predictions, but now they have hit rock bottom and are poised forโฆ
Published on October 3, 2024
By Iris Barker
Business & Finance
OpenAI raises $4bn credit line
OpenAI, a company in the United States that created ChatGPT, announced that it has obtained a $4 billion revolving credit facility.
Published on October 3, 2024
By Iris Barker
Business & Finance
Total and Apache to invest $10 billion in oil production in Suriname
TotalEnergies and Apache Corp from the US are set to jointly invest $10 billion in oil production off the coast of Suriname, as announced by Total.
Published on October 3, 2024
By Iris Barker
Economics
Bank of England believes global markets are vulnerable to the risk of a sharp correction
Bank of England analysts believe that global asset prices are still too high and may experience major drops due to increasing worries about geopolitical risks.
Published on October 3, 2024
By Iris Barker
Economics
EU condemns Iran attack on Israel, fears risk of regional war
Josep Borrell, EU High Representative for Foreign Affairs, expressed worries about the possibility of a widespread conflict in the Middle East and stated that the EU disapproved of the Iranianโฆ
Published on October 2, 2024
By Iris Barker
Business & Finance
Nike slashes revenue by 10% in first fiscal quarter, withdraws full-year forecast
In its fiscal first quarter, the US sports equipment manufacturer Nike Inc. decreased its net income by 28% and lowered revenue by 10%, surpassing market predictions for net income whileโฆ
Published on October 2, 2024
By Iris Barker
World & Politics
EU to allocate โฌ10m to help Lebanese war victims
The European Commission revealed that it will provide โฌ10 million in humanitarian assistance to help Lebanese citizens impacted by the conflict between Hezbollah and Israel.
Published on September 29, 2024
By Iris Barker
Economics
Market waits for ECB rate cut after inflation in France and Spain falls below 2%
Bloomberg reports that the market's expectation of a cut in key interest rates by the European Central Bank in October increased following data showing a significant decrease in inflation inโฆ
Published on September 29, 2024
By Iris Barker
World & Politics
China launches investigation over Canadian duties
According to Xinhua news agency, the Ministry of Commerce in China is looking into Canada's proposed implementation of tariffs on various Chinese products being brought into the country.
Published on September 26, 2024
By Iris Barker
Business & Finance
Adobe expects maximum since 2021 growth in US online sales in November-December
Adobe Inc. forecasts that sales in online stores in the United States will reach their highest point since 2021 during the winter holiday season (from 1 November to 31 December)โฆ
Published on September 26, 2024
By Iris Barker
Economics
Levi’s postpones target date to increase annual turnover to $9-10 billion
Levi Strauss & Co.'s CEO Michelle Gass told the Financial Times that the company will not achieve its target of reaching $9-10 billion in annual turnover by 2027.
Published on September 25, 2024
By Iris Barker
Economics
India updates its LNG import record in August
The Ministry of Commerce and Industry reported that India's imports of liquefied natural gas grew by 57% to 2.784 million tons in July 2024 from 1.777 million tons in Julyโฆ
Published on September 25, 2024
By Iris Barker
Management
Bank of America to open over 165 branches by the end of 2026
Bank of America Corp., the second-largest U.S. bank in terms of assets, intends to open over 165 branches by 2026, with around 40 of them scheduled for this year, asโฆ
Published on September 24, 2024
By Iris Barker
World & Politics
Chinese youth unemployment reaches record 18.8% in August
According to a report from China's State Statistics Office (SSO), the unemployment rate for 16-24-year-olds, not including students, increased to a historical high of 18.8 percent in August, up fromโฆ
Published on September 24, 2024
By Iris Barker
Management
Trafigura to appoint gas segment’s head Holtum as CEO
Trafigura, a major commodity trading company, is getting ready to reveal the appointment of Richard Holtum as chief executive next week, according to sources cited by the Financial Times.
Published on September 22, 2024
By Iris Barker
Business & Finance
German government decides not to sell any more Commerzbank shares for now
The German financial agency announced that the German government has made the decision to refrain from selling additional shares in Commerzbank AG in the near term.
Published on September 22, 2024
By Iris Barker
Economics
European carmakers face billions of dollars in fines for exceeding emission standards
European car manufacturers are worried about facing huge fines for not meeting carbon dioxide emission rules as sales of electric cars drop, as stated in a press release by ACEA.
Published on September 19, 2024
By Iris Barker
Economics
Environmentalists accuse meat producer Tyson Foods of greenwashing
Tyson Foods Inc., the largest U.S. meat supplier, is being sued by the Environmental Working Group, an environmental organization, for allegedly deceiving consumers with unrealistic climate goals.
Published on September 19, 2024
By Iris Barker
World & Politics
Over 310,000 people sign a petition calling for Macron’s impeachment
By Tuesday evening, over 310,000 individuals have endorsed a petition created by the leftist party La France Insoumise demanding the removal of French President Emmanuel Macron.
Published on September 18, 2024
By Iris Barker
Science & Technology
Chipotle tests robots for peeling avocados and making salads
Chipotle Mexican Grill is experimenting with two collaborative robots, "cobots" in its California eateries.
Published on September 18, 2024
By Iris Barker
Business & Finance
UniCredit launches โฌ1.7 billion share buyback
UniCredit SpA, an Italian bank, has introduced a โฌ1.7 billion share repurchase initiative.
Published on September 17, 2024
By Iris Barker
Business & Finance
Barclays urged to give UK companies tax breaks to revive trading on LSE
According to a report by Barclays, the UK government ought to offer tax incentives to firms looking to move their listing from "junior" markets like the Alternative Investment Market (AIM)โฆ
Published on September 17, 2024
By Iris Barker
Business & Finance
Mitsubishi discusses participation in ExxonMobil’s low-carbon ammonia project
Mitsubishi Corp. from Japan is in talks to acquire a share in ExxonMobil Corp.'s Texas project, set to be the biggest low-carbon ammonia production facility globally, writes The Wall Streetโฆ
Published on September 16, 2024
By Iris Barker
World & Politics
Death toll from floods in Central Europe rises to six
During a press conference, Polish Prime Minister Donald Tusk announced that floods in Poland resulted in one fatality. Tusk reported that the Kลodz district has recorded its first confirmed caseโฆ
Published on September 16, 2024
By Iris Barker
Economics
UK regulator postpones Basel 3.1 standards until 2026
The British Prudential Regulation Authority (PRA) has delayed the introduction of Basel 3.1 standards for banks, building societies, investment companies, and financial holding companies until January 1, 2026, for aโฆ
Published on September 12, 2024
By Iris Barker
Business & Finance
GM and Hyundai plan partnership in car production and green technology
American General Motors and South Korean Hyundai Motor have agreed to investigate potential collaborations in car production, supply chains, and environmentally-friendly technologies.
Published on September 12, 2024
By Iris Barker
Business & Finance
Commerzbank ready for talks on possible merger with UniCredit
Commerzbank AG is open to discussions regarding a potential merger with Italian UniCredit, writes the Financial Times citing sources.
Published on September 11, 2024
By Iris Barker
Business & Finance
Trump Media shares lose 18% after Trump and Harris debate
Trading data shows that the share price of Trump Media & Technology Group (TMTG), the company that owns Truth, the social network that Donald Trump founded, dropped 18.25% during itsโฆ
Published on September 11, 2024
By Iris Barker
Economics
BMW worsens forecasts for 2024 due to recall and suspension of car deliveries
German car manufacturer BMW has revised its 2024 projections downward because of the halt in deliveries and recall of certain vehicles with faulty integrated braking systems (IBS) from a supplier.
Published on September 11, 2024
By Iris Barker
World & Politics
Trump and Harris accuse each other in the country’s economic situation
During the campaign debate, U.S. Vice President Kamala Harris and former U.S. President Donald Trump exchanged accusations on domestic political and economic matters.
Published on September 11, 2024
By Iris Barker
Economics
China lifts restrictions on foreign investment in industry and medicine
China's leaders have eased certain limitations on foreign investment in the economy to promote growth, according to The Wall Street Journal.
Published on September 10, 2024
By Iris Barker
Management
Boeing to raise wages of 33,000 workers by record 25% to avoid strike
U.S. Boeing Co. has reached a tentative agreement on a new contract with two local chapters of the International Association of Machinists and Aerospace Workers, which represent over 33 thousandโฆ
Published on September 10, 2024
By Iris Barker
Economics
Germany to start reducing its 16.49% stake in Commerzbank
Germany intends to begin decreasing its ownership in Commerzbank AG, which was obtained during the financial crisis of 2008-2009, reports The German Financial Agency (Deutsche Finanzagentur).
Published on September 4, 2024
By Iris Barker
Economics
Bloomberg: IMF will require Ukraine to accelerate currency devaluation and raise taxes
Ukrainian authorities anticipate the IMF will ask Kiev to accelerate the devaluation of the hryvnia, decrease interest rates, improve tax collection, and increase taxes this week, according to sources citedโฆ
Published on September 4, 2024
By Iris Barker
Management
Ex-Volkswagen chief Winterkorn goes on trial over Dieselgate
Martin Winterkorn, the ex-CEO of Volkswagen, was present in a Brunswick court on Tuesday to face allegations of fraud and market manipulation linked to the scandal involving the company's useโฆ
Published on September 3, 2024
By Iris Barker
World & Politics
UN organizes talks between two parts of Libya to overcome Central Bank crisis
The UN mission in Libya facilitated discussions between western and eastern authorities to address the Central Bank crisis.
Published on September 3, 2024
By Iris Barker
Economics
ByteDance raises record in Asia $9.5 billion loan
Chinese company ByteDance, the company behind TikTok, is currently working on securing a $9.5 billion three-year bank loan, as reported by Bloomberg based on sources familiar with the matter.
Published on September 2, 2024
By Iris Barker
Business & Finance
Volkswagen ponders closing plants in Germany
The Financial Times reports that Volkswagen, a German company, is thinking about shutting down its factories in Germany and going back on its commitment not to lay off employees untilโฆ
Published on September 2, 2024
By Iris Barker
World & Politics
Defense spending in EU countries grows to โฌ300 billion
European Commission President Ursula von der Leyen emphasized the importance of a stronger European defense backbone, alongside NATO as the focal point for Europe's collective defense.
Published on September 1, 2024
By Iris Barker
Business & Finance
Marathon Oil shareholders approve merger with ConocoPhillips
Marathon Oil, a US-based oil company, announced in a press release that it has obtained approval from its shareholders for the proposed merger with ConocoPhillips.
Published on September 1, 2024
By Iris Barker
World & Politics
Ryanair head urges to limit alcohol sales in airport bars
Michael O'Leary, the CEO of Ryanair Holdings Plc, has advocated for restrictions on alcohol sales in airport bars due to an increase in unruly behavior by intoxicated passengers on flights.
Published on August 29, 2024
By Iris Barker
Economics
ADNOC sets to buy Covestro for โฌ11.7 billion
According to sources cited by Bloomberg, ADNOC, the state-owned oil company of the UAE, plans to approve a deal to acquire Covestro AG, a German chemical company, for 11.7 billionโฆ
Published on August 29, 2024
By Iris Barker
Business & Finance
Uber fined โฌ290 million in the Netherlands for transferring data to the US
MarketWatch reports that Uber Technologies, an American company that offers cab booking and food delivery services, was fined 290 million euros in the Netherlands for transferring information about European driversโฆ
Published on August 26, 2024
By Iris Barker
Economics
ExxonMobil expects global oil demand to remain at current levels until 2050
ExxonMobil Corp. anticipates that global oil demand will stay steady at the current level until 2050.
Published on August 26, 2024
By Iris Barker
Business & Finance
Skydance accuses Paramount of breaching merger agreement
A letter from Skydance's lawyers reads that American Skydance Media has alleged that media holding Paramount Global breached their merger agreement terms, as reported by The Wall Street Journal.
Published on August 26, 2024
By Iris Barker
World & Politics
Hezbollah denies Israeli claims that its pre-emptive strikes against the movement have been successful
Hezbollah denied Israeli allegations of successfully preventing their planned attack on Israel, stating it is false.
Published on August 26, 2024
By Iris Barker
Business & Finance
Revolut employees sell shares in the company, value it at $45 billion
Staff of the UK fintech startup Revolut have utilized their privilege to divest their shares, leading to the company being valued at $45 billion in total market worth.
Published on August 18, 2024
By Iris Barker