Amazon Triples Quarterly Profit As Cloud Surges
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 To Cut Hundreds More Jobs In Musk Cost Push: Report
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 Scion Resigns After Embezzlement Charge
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.
HSBC Announces Surprise Retirement Of Chief Executive
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.
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ByteDance Says 'No Plans' To Sell TikTok After US Ban Law
Chinese tech giant ByteDance has said it has no plans to sell TikTok after a new US law put it on a deadline to divest from the hugely popular video platform or have it banned in the United States.
Microsoft Expands Its AI Empire Abroad
Microsoft, the tech titan most closely associated with AI, has announced nearly $10 billion in investments in artificial intelligence abroad in recent months, the price it is willing to pay to remain a top player in this crucial market.
Honda Announces US$11 Bn EV Battery And Vehicle Plant In Canada
Japanese auto giant Honda announced Thursday the largest automotive investment in Canada's history, worth Can$15 billion (US$11 billion), for a massive new EV battery and vehicle assembly plant.
Car Giants Vie For EV Crown At Beijing's Auto China Show
Chinese car giants locked in a cut-throat price war descended on the capital for the start of the Auto China show Thursday, vying to draw consumers and headlines in the world's biggest electric vehicle market and abroad.
Strong Fleet Sales Offset Electric Losses At Ford
Strong sales in Ford's fleet business offset deep losses in electric vehicles where the Detroit auto giant has delayed some investments, according to results released Wednesday.
Meta Profits Soar But Costs Of AI Cause Worry
Facebook-owner Meta on Wednesday said its quarterly profits soared last quarter, but worries about the cost of artificial intelligence saw its share price take a hit on Wall Street.
Starbucks Set For Talks With Unionized US Stores
Starbucks is set to hold talks with labor representatives from stores that have voted to unionize in a key step towards reaching contracts, both sides said Tuesday.
Italy Fines Amazon Over 'Recurring' Purchase Option
Italy's competition authority said Wednesday it had fined two Amazon companies 10 million euros ($10.6 million) for unfair commercial practices, for pushing customers into agreeing to "recurring" rather than "one-time" purchases online.
Chinese Sellers Go To TikTok School To Reach Buyers Abroad
Donning hijabs and floor-length abaya gowns over shorts and tank tops, Chinese students at an e-commerce school perform into a smartphone camera as they learn how to sell the clothes to overseas TikTok users.
China, Future HQ: New ASML Boss Faces Bulging In-tray
Frenchman Christophe Fouquet takes the reins of Dutch chip giant ASML on Wednesday with a daunting to-do list, top of which will be steering business with China as semiconductors become a geopolitical battleground.
Eurozone Business Activity Accelerates In April
Business activity in the eurozone picked up in April thanks to "increasingly robust" growth in the services sector, a closely watched survey showed Tuesday.
InstaDeep CEO Takes AI From Tunis To London
Karim Beguir launched the artificial intelligence start-up InstaDeep in Tunisia in 2014 with just two computers and $2,000.
Taiwan Chip Giant TSMC's Profits Surge On AI Demand
Taiwanese semiconductor giant TSMC announced Thursday a nearly 9 percent increase in net profits in the first quarter of 2024, buoyed by global demand for its microchips used to power everything from mobile phones to AI technology.
Tesla, Starlink Entry On Agenda When Musk Heads To India
Tech billionaire Elon Musk is set to visit India as his businesses seek new markets in the world's most populous nation, with electric carmaker Tesla -- suffering a sales downturn in the United States -- reportedly scouting factory locations.
Apple CEO Meets Indonesia Leader To Talk Investments
Apple chief executive Tim Cook met Indonesia's president on Wednesday, as the tech giant explores ways to invest in Southeast Asia's biggest economy and diversify supply chains away from China.
Limitless Revolutionizes Web3 With Founder's Pack Tiers
The Founder's Pack tiers are designed to provide members with unique benefits beyond node ownership and brand partner status.
US To Grant Samsung Up To $6.4 Bn For Chip Plants
The United States on Monday announced grants of up to $6.4 billion to South Korean semiconductor giant Samsung to produce cutting-edge chips in Texas.
Sam Bankman-Fried Appeals Fraud Conviction, 25-year Jail Term
Fallen cryptocurrency wunderkind Sam Bankman-Fried has appealed his federal conviction and 25-year jail sentence in a sweeping fraud case, according to a legal filing made public Thursday.
Patek Philippe Chief Not Worried For Top-end Swiss Watches
Patek Philippe's chief says he is not anxious about the prospects for top-end timepieces, despite Swiss watch exports slowing overall after three years of spectacular growth.
Bitcoin Miners Face Survival Test In 'Halving'
Miners of bitcoin will soon face a halving of the reward for operating the most popular cryptocurrency, in a pivotal event that is a test of survival, industry commentators say.
Microsoft To Invest $2.9 Bn In Japan AI Push
Microsoft on Tuesday announced a $2.9 billion investment over the next two years in Japan to bolster the country's push into artificial intelligence and strengthen its cyber defences in the face of threats from China and Russia.
JPMorgan Chase CEO Warns Inflation Could Stay High
Inflation could remain elevated for longer than expected, posing a risk to the US economy's near-term health, JPMorgan Chase Chief Executive Jamie Dimon said Monday.
Tesla Settles Wrongful Death Lawsuit From Fatal Crash
Tesla has settled with the family of an engineer killed when his Model X crashed in Silicon Valley six years ago, avoiding a trial, according to court filings Monday.
Brazil Judge Orders Probe Of Musk Over Censorship Charge
In an order seen by AFP, Judge Alexandre de Moraes accused the owner of X of "criminal instrumentalization" of the platform.
ECB Tipped To Pause One Last Time Before June Rate Cut
The Frankfurt-based institution has left its key rates unchanged since October 2023, following an unprecedented streak of hikes to tame red-hot inflation.
US 'Will Not Accept' Flood Of Below-cost Chinese Goods: Yellen
Yellen has repeatedly warned about the risks of China's excess industrial capacity during four days of meetings with officials and business leaders in the southern city of Guangzhou and capital Beijing.
X Gives Free Blue Check To Big Follower Accounts
Before Musk, the blue check mark was used as a verification system for major accounts including celebrities, institutions and journalists.
Eurozone Inflation Falls Faster Than Expected In March
The eurozone's annual rate of inflation dipped further than predicted in March, official data showed Wednesday, spurring hope that the European Central Bank will cut interest rates in June.
Gold Hits Another Record High On Fed Rate Cut Bets
Gold hit another fresh record high Monday as investors grow confident that the Federal Reserve will cut interest rates this year, even after data showed a slight uptick in a key inflation report.
China's Xiaomi To Enter Cut-throat EV Market For The First Time
Chinese consumer tech giant Xiaomi will launch its first-ever EV at a press conference in Beijing Thursday, injecting itself into a fiercely competitive sector in the world's largest car market.
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