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Iris Barker


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'sโ€ฆ
Published on October 8, 2024
By Iris Barker

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

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

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 forโ€ฆ
Published on October 3, 2024
By Iris Barker

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

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

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

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 Iranianโ€ฆ
Published on October 2, 2024
By Iris Barker

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 whileโ€ฆ
Published on October 2, 2024
By Iris Barker

EU to allocate โ‚ฌ10m to help Lebanese war victims

The European Commission revealed that it will provide โ‚ฌ10 million in humanitarian assistance to help Lebanese citizens impacted by the conflict between Hezbollah and Israel.
Published on September 29, 2024
By Iris Barker

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 inโ€ฆ
Published on September 29, 2024
By Iris Barker

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

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)โ€ฆ
Published on September 26, 2024
By Iris Barker

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

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 Julyโ€ฆ
Published on September 25, 2024
By Iris Barker

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, asโ€ฆ
Published on September 24, 2024
By Iris Barker

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 fromโ€ฆ
Published on September 24, 2024
By Iris Barker

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

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

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

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

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

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

UniCredit launches โ‚ฌ1.7 billion share buyback

UniCredit SpA, an Italian bank, has introduced a โ‚ฌ1.7 billion share repurchase initiative.
Published on September 17, 2024
By Iris Barker

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)โ€ฆ
Published on September 17, 2024
By Iris Barker

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 Streetโ€ฆ
Published on September 16, 2024
By Iris Barker

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 Kล‚odz district has recorded its first confirmed caseโ€ฆ
Published on September 16, 2024
By Iris Barker

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 aโ€ฆ
Published on September 12, 2024
By Iris Barker

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

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

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 itsโ€ฆ
Published on September 11, 2024
By Iris Barker

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

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

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

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 thousandโ€ฆ
Published on September 10, 2024
By Iris Barker

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

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 citedโ€ฆ
Published on September 4, 2024
By Iris Barker

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 useโ€ฆ
Published on September 3, 2024
By Iris Barker

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

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

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 untilโ€ฆ
Published on September 2, 2024
By Iris Barker

Defense spending in EU countries grows to โ‚ฌ300 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

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

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

ADNOC sets to buy Covestro for โ‚ฌ11.7 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 billionโ€ฆ
Published on August 29, 2024
By Iris Barker

Uber fined โ‚ฌ290 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 driversโ€ฆ
Published on August 26, 2024
By Iris Barker

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

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

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

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
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