Result Page 17 for Latest Business News & Archive

Meta shares jumped as earnings beat expectations, even though its Facebook social network is no longer an internet youngster at 20 years old

Meta, Amazon Beat Expectations With Stellar Results

Meta and Amazon on Thursday blew through expectations in their latest quarterly results as Big Tech continued to impress Wall Street.

Apple Promises AI Innovation As China IPhone Sales Slip

Apple Vision Pro 'spacial computing' headgear are heading to its stores in the United States as it hopes to shake up lifestyles the way it did with the iPhone

The iPhone maker reported revenue was up slightly from the same quarter a year earlier, as money brought in from services and digital content set a new record. But worries surrounding the China market cast a pall on the news.

Stock Markets Stumble As Fed Crushes March Rate Cut Hope

Federal Reserve officials were keen to begin cutting interest rates this year but boss Jerome Powell said a move next month was unlikely

The downbeat sentiment was compounded by disappointing earnings from US titans Microsoft and Google parent Alphabet, which pummeled the tech sector.

Deutsche Bank's net profit fell 16 percent to 4.2 billion euros last year

Deutsche Bank To Cut Jobs After Drop In 2023 Profit

Deutsche said it plans to cut around 3,500 jobs over the next two years, "mainly in non-client-facing areas".

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Microsoft CEO Satya Nadella moved the fastest and furthest into the AI space, investing massively in ChatGPT-maker OpenAI and pushing AI across products while others chose to move more carefully

Microsoft, Google Ride AI Wave As Revenues Surge

Microsoft and Google delivered solid corporate earnings on Tuesday as the tech giants said demand for artificial intelligence services stoked revenue.

Samsung blamed weak demand for consumer devices for its Q3 drop in operating profits, but remained optimistic about the year ahead

Samsung Reports Sharp Drop In Operating Profits

Samsung Electronics on Wednesday reported a 34.57 percent drop in operating profits for the fourth quarter of 2023, as the company struggles with weak demand for consumer devices.

Renault had wanted to spin off its electric vehicle unit into Ampere, hoping that running it as a separate company would make it more agile in the rapidly developing sector

Renault Slams Brakes On Listing Of Ampere EV Division

French automaker Renault said Monday that it was halting the initial public offering of its EV unit Ampere, saying market conditions were unfavourable to list the company's shares.

Sotheby's was responsible for the sale of 2023's most expensive works including Pablo Picasso's 'Femme a la montre' which brought in $139 million

Sotheby's Sales Drop In 2023 After Record Year

Storied auction house Sotheby's reported on Monday that sales had dipped last year to $7.9 billion, down $100 million from the record-breaking 2022 which was lifted by pent-up demand following the pandemic.

Toyota said it sold a record 11.2 vehicles last year

Toyota Apologises For Scandals As Vehicle Sales Set New Record

Toyota's chairman said Tuesday he was "ashamed" of recent scandals involving subsidiaries of the Japanese auto giant, as the firm announced record vehicle sales of 11.2 million across its brands last year.

Saudi Arabia is the world's largest crude exporter and Aramco is the jewel of the Gulf kingdom's economy

Saudi Aramco Halts Plan To Raise Production Capacity: Statement

Saudi Arabia has ordered energy giant Aramco to maintain its oil production capacity at 12 million barrels per day, abandoning a planned increase, the firm said on Tuesday.

An El-Al plane takes off from Israel's Ben-Gurion Airport

Israel's El Al Says Scrapping S. Africa Flights End March

Israeli flag carrier El Al said Friday it will scrap direct flights to South Africa following "a significant fall in demand by Israeli travellers" to the country and other destinations.

A Boeing 737 MAX 9 for Alaska Airlines is pictured along with other 737 aircraft at Renton Municipal Airport

Boeing Exec Apologizes Over MAX 9 Problem, Promises Fixes

A top Boeing executive has apologized for the problems highlighted by the mid-flight blowout of a door plug on an Alaska Airlines flight, as two airlines began returning the troubled 737 MAX 9 planes to service.

Royal Caribbean's 'Icon,' World's Largest Cruise Ship, Sets Sail

The world's largest cruise ship, Royal Caribbean's Icon of the Seas, set sail from Miami on its maiden voyage Saturday, carrying what amounted to the population of a small city.

With debts of more than $300 billion, Evergrande has become a symbol of China's property crisis, which has weighed on the economy

Hong Kong Court Orders Liquidation Of China's Evergrande

A Hong Kong court on Monday ordered the liquidation of China's property giant Evergrande, but the firm said it would continue to operate in a case that has become a symbol of the nation's deepening economic woes.

A Hong Kong court has issued a winding-up order for Chinese real estate giant Evergrande

China's Evergrande: What Happens Next After Liquidation Order?

A Hong Kong court on Monday issued a winding-up order for Chinese real estate giant Evergrande, as the embattled firm teeters on the brink of bankruptcy.

Microsoft is laying off 1,900 people in its gaming division after its buyout of Activision Blizzard

Microsoft Lays Off 1,900 Staff After Activision Gaming Buyout

Microsoft is laying off 1,900 people, or eight percent of staff, from its gaming division as it consolidates the blockbuster buyout of "Call of Duty" maker Activision Blizzard.

The bank said the move was due to changes in customers' banking habits

Lloyds Bank Cuts Almost 800 Jobs In Online Switch

British retail lender Lloyds Banking Group on Thursday announced a net reduction of almost 800 jobs, as it slashes branch staff but boosts customer services.

A Boeing 737 MAX 9 plane operated by Alaska Airlines made an emergency landing on January 5 after a panel blew out

Alaska Airlines Says Expects $150 Mn Hit From 737 MAX Grounding

Alaska Airlines said Thursday it expects a $150 million hit from the Boeing 737 MAX grounding, which will limit its capacity growth in 2024.

LVMH chief executive Bernard Arnault -- pictured here last year -- said the exceptional appeal of the French luxury group's brands helped it to post record sales and profits in 2023

LVMH Posts Record Sales And Profit In 2023

The world's largest luxury goods group LVMH announced record results Thursday, even as growth slowed towards the end of last year and sales of spirits shrank.

Human rights advocates contend the ability to easily share Ring doorbell and security camera video with police has exacerbated racial profiling

Amazon Tightens Police Access To Ring Camera Video

Amazon on Wednesday said it will stop letting police directly ask people for video from the company's Ring doorbell or home security cameras.

Nokia and its Swedish rival Ericsson have launched cost-cutting programmes as their customers have reduced spending amid a slowing global economy

Nokia Sees 'Challenging' 2024 After Profits Plunge

Finnish telecommunications equipment maker Nokia warned Thursday that it expects another tough economic environment in the first half of this year after its net profit sank in 2023.

Consumer goods company P&G reported a three percent rise in revenue in the second quarter, slightly lower than analysts expected

P&G Reports Mixed Earnings, Higher Prices Boost Revenue

Consumer goods giant Procter & Gamble painted a mixed picture in its earnings report Tuesday, as price hikes supported revenue growth but customers appeared to pull back in some purchases.

Netflix says that despite the long strikes by actors and writers in Hollywood it has a strong line-up of content set for release in 2024

Netflix Subscribers Jump Despite Price Hikes

Netflix added 13 million subscribers in the final three months of last year, the company said on Tuesday, despite price hikes at the leading streaming service.

Amazon France Logistique monitored the performance of employees through data from scanners used by the staff to process packages, according to France's data protection agency.

Amazon French Warehouses Unit Fined 32 Million Euros

France's data protection agency said Tuesday it had fined Amazon's French warehouse management unit 32 million euros ($34.9 million) for an "excessively intrusive" surveillance system to monitor staff performance.

League of Legends maker Riot Games has said it will lay off around 11 percent of its staff globally

League Of Legends Maker Riot Games To Slash 530 Jobs

League of Legends maker Riot Games said Monday it will cut around 530 jobs worldwide, describing the layoffs as "a necessity."

Ericsson has launched a cost-cutting programme that includes eliminating 8,500 jobs

Ericsson Sees 'Further' Market Decline After 2023 Loss

Swedish telecoms equipment giant Ericsson warned Tuesday that it expected further market decline outside China this year after booking a sizeable loss in 2023 due to a write-down and restructuring costs.

Do Kwon (C) was arrested in Montenegro in 2023 and is wanted in South Korea and the United States over the collapse of Terraform's cryptocurrencies

Wanted Crypto Boss Do Kwon's Terraform Files For US Bankruptcy

South Korean entrepreneur Do Kwon's Terraform Labs, whose cryptocurrencies crashed dramatically in 2022, is seeking bankruptcy protection in the United States, according to court documents filed Sunday.

Reports said Sony was unhappy with Zee's performance since the merger was agreed in 2021

Sony 'Terminates' Indian Merger With Zee

Sony "terminated" on Monday the $10-billion merger of its Indian operations with local rival Zee Entertainment that would have created a new streaming giant in the world's most populous nation.

Sundar Pichai, CEO of Google and Alphabet, speaks at the Asia-Pacific Economic Cooperation (APEC) Leaders' Week in San Francisco

Google CEO Warns Of More Layoffs

Google CEO Sundar Pichai has warned employees that more layoffs are in store at the search engine giant as it focused on new priorities, including artificial intelligence.

Just Eat Takeaway has employed some riders on labour contracts as opposed to working with them as independent contractors

Just Eat To Halt Paris Subsidiary Employing Riders On Contracts

The Anglo-Dutch group Just Eat Takeaway said Thursday that it would wind up its Paris subsidiary that employs riders on labour contracts but that it will continue to operate its delivery service in the French capital.

Tesla's Model Y was the top-selling car in Europe last year

Electric Cars Jolt Europe Sales For 2023

New car sales in Europe rebounded by 13.9 percent in 2023 as electric vehicles overtook diesel for the first time, an industry group said on Thursday.

US retail sales rose more than expected in December by 0.6 percent from the prior month, Commerce Department data showed

US Retail Sales Beat Expectations In December To Wrap Solid Year

US retail sales accelerated more than anticipated in December, closing out a year marked by resilient consumption, government data showed on Wednesday.

India's newest airline Akasa Air has ordered 150 Boeing 737 MAX planes

India's Akasa Air Orders 150 Boeing Planes: CEO

India's newest airline, Akasa Air, said Thursday it has ordered 150 Boeing 737 MAX planes as it looks to bolster its fleet and kick off international operations.

Ryanair flies exclusively Boeing 737 jets

Ryanair Boss Says Reassured By Boeing On 737 MAX Safety

Ryanair on Tuesday welcomed improved quality controls at US aircraft manufacturer Boeing and announced its own enhanced checks, after a major safety issue.

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