BUSINESS

Ride-hailing giant Uber said Tuesday it has reached a deal with Delivery Hero SE to buy its Foodpanda delivery business in Taiwan for US$950 million.

Sony on Tuesday warned of falling profits this year as PlayStation 5 unit sales decline, after reporting a dip in annual earnings while also staying mum on a reported bid for Paramount.

Some 5,200 workers at the Mercedes auto manufacturing plant and battery complex near Tuscaloosa, Alabama will decide whether to join the United Auto Workers in a federally-administered election that runs from Monday through Friday.

The family-owned hedge fund run by Hwang had taken huge bets on a few stocks with money borrowed from banks, and when several of those bets turned sour, the fund was unable to meet "margin calls" to cover the losses.

The announcement came as Macron kicked off a day of meetings with foreign business leaders at the Chateau de Versailles, called "Choose France".

Brussels also said it would investigate whether social media platform X, owned by tech billionaire Elon Musk, can be exempted from the rules.

Japanese auto giant Honda on Friday logged a record annual profit thanks to improving global vehicle sales, but issued a cautious outlook for the current fiscal year.

Taiwanese chip giant TSMC said on Friday that April revenue jumped nearly 60 percent on-year, riding a huge wave of demand for the advanced semiconductors used in AI hardware.

Nissan said Thursday it nearly doubled its full-year net profit in 2023-24, weathering challenges in the Chinese market, but forecast a dip of around 10 percent for the current financial year.

Two of China's wealthiest cities said Thursday they would lift all restrictions on buying homes, joining a growing list of urban areas rolling back curbs as they look to prop up the faltering property market.

Spain's second-largest bank BBVA announced Thursday a hostile takeover bid for smaller rival Banco Sabadell but the government vowed to block the move, which would create a European giant in the sector.

Anglo-Swedish drugmaker AstraZeneca on Wednesday said it was withdrawing Covid vaccine Vaxzevria, one of the first produced in the deadly pandemic, citing "commercial reasons" following a slump in demand.

Disney reported higher revenues Tuesday on a strong performance by its theme parks division and an improving streaming business, but a write-down in the company's India business resulted in a small loss.

Italian luxury carmaker Ferrari on Tuesday posted a double digit rise in both profits and sales for the first quarter of 2024, and confirmed its full-year guidance.

Nintendo said Tuesday it will make an announcement about a highly anticipated new console by the end of March 2025 as sales decline of the hugely popular Switch, which is now in its eighth year.

Oil giant Saudi Aramco said Tuesday its first-quarter net profit dipped 14.5 percent on year to $27.27 billion as the Gulf kingdom kept production cuts in place.

Swiss banking giant UBS on Tuesday said first quarter net profit rose 71 percent to nearly $1.8 billion, far exceeding expectations, after two quarters in the red due to the mammoth takeover of Credit Suisse.

Struggling French tech group Atos, an Olympics partner and key French defence contractor, said Monday it would make a decision on financial restructuring offers by May 31.

Apple on Thursday said its quarterly profit ebbed but topped market forecasts as it announced an unprecedented $110 billion share buyback.

TikTok and Universal announced a new licensing agreement Thursday, ending a months-long dispute that saw popular music expunged from the social media platform.

British energy major Shell on Thursday posted sharply lower first-quarter net profit on sinking revenues, but adjusted earnings topped expectations and it unveiled another bumper stock buyback.

Pfizer reported a drop in profits on lower sales of Covid-19 related profits Wednesday as it steers investments to other pharmaceutical areas and implements previously announced cost cuts.

Starbucks reported lower profits on falling sales on Tuesday as the coffee giant pointed to weakening consumer sentiment and lackluster conditions in China as factors behind an earnings miss.

E-commerce titan Amazon on Tuesday said profit in the first three months of 2024 tripled as its cloud, ads, and retail businesses thrived.

Tesla plans hundreds of additional job cuts beyond a recent company-wide layoff as it cracks down on costs in a tough electric vehicle market, according to a US media report.

French media baron Arnaud Lagardere resigned Tuesday as chief executive of the sprawling group of the same name after being charged with misuse of corporate funds.

Global bank HSBC announced Tuesday the shock departure of chief executive Neil Quinn, who will retire after overhauling the group in an "intense" five-year tenure weathering a Covid fallout, simmering geopolitics, and shareholder pressure to spin off Asia assets.

US federal prosecutors are calling for ex-Binance chief Changpeng Zhao to be sent to prison when he appears Tuesday for sentencing on money laundering charges.

Hong Kong on Tuesday launched trading of Asia's first spot bitcoin and ether exchange-traded funds (ETFs), moving forward in the city's race to become a regional virtual asset investment hub.