Newsletter
Profit Slump at BP
In its latest financial report, British energy giant BP recorded a significant decline in its third-quarter profits. Despite an increase from the previous quarter, from $2.6 billion to $3.3 billion, the result fell short of analysts' expectations, who had …
China's Real Estate Giant Faces Court
The real estate behemoth, China Evergrande, is at a pivotal moment that could determine its future. Being the world's most indebted property developer, the company now stands in a Hong Kong courtroom, almost two years after its initial default, facing a …
Apple Under Pressure in China
The Chinese tech firm, Huawei, is making a rapid comeback in the smartphone industry. Recent numbers from market researchers reveal that the company increased its sales in China by an impressive 37 percent compared to the previous year. At the heart of this …
Setbacks in the Electric Vehicle Eegment for Ford
The electric vehicle business of Ford continues to face significant challenges. The US automotive giant reported substantial losses in its electric vehicle division in the past quarter, with an operating deficit of $1.3 billion. This loss is well above the …
LG Energy Solutions Raises Alarm on E-Vehicle Market
The future of the electric vehicle market looks bleak, at least according to South Korean battery manufacturer LG Energy Solution S (LGES). The company, which serves as a supplier for prominent car manufacturers like Tesla and General Motors (GM), expressed …
FCA Lifts Bonus Restrictions
In a significant move to enhance London's appeal as a financial center post-Brexit, the UK financial watchdog, the Financial Conduct Authority (FCA), has lifted the cap on bonus payments for bankers in the City of London. This decision takes effect on October …
Major takeovers define the energy sector
The energy sector is once again undergoing a massive transformation, with major oil corporations solidifying their stance through strategic acquisitions. A recent example is Chevron planning to take over its smaller rival, Hess, for an impressive $53 billion. …
Foxconn faces chinese tax raids
Chinese tax authorities have conducted raids on multiple locations of Foxconn, the Apple supplier, according to a report in the state-owned newspaper "Global Times." The raids targeted Foxconn offices in the provinces of Guangdong and Jiangsu. The Ministry of …
Tesla becomes more ordinary
Tesla reported weaker third quarter results on Wednesday, showing signs that its meteoric growth is slowing down. CEO Elon Musk struck an unusually sober tone in the earnings call, citing economic headwinds and company-specific problems.
Rite Aid Files for Chapter 11
The American pharmacy chain Rite Aid, under pressure due to its role in the opioid crisis, has filed for Chapter 11 bankruptcy protection in the US. The Chapter 11 bankruptcy process allows companies to shield themselves from creditors' claims temporarily, …