Why Germany Is Being Hit By Strikes Almost Every Day
Rail, bus and airport workers have walked out one after another amid bitter salary negotiations in a country that usually prides itself on good labor relations.
Deal Signed To Export DR Congo Copper Via US-backed Corridor
The corridor to the Angolan port of Lobito has been part-funded by Washington as part of its efforts to help Western companies compete with China for access to African minerals.
TotalEnergies Posts Record Annual Profit At $21.4 Billion
Its bottom line put the French energy conglomerate ahead of its global peers Shell, BP, Exxon-Mobil and Chevron which all reported lower earnings in the face of weaker energy prices.
Toyota Raises Annual Net Profit Forecast As Chip Shortage Eases
But scandals involving rigged engine and safety tests at Toyota subsidiaries led the company to slightly revise down its sales volume target for the financial year.
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S. Korean Court Acquits Samsung Chief Over 2015 Merger Case
Yonhap news agency reported that the court said it did "not recognise intention to harm shareholders" through the merger, which critics had claimed was bad value and done mostly to ensure a smooth third-generational power transfer to Lee, a scion of Samsung's founding family.
IMF Says Central Banks Should Not Rush Into Rate Cuts
The US Federal Reserve, the European Central Bank (ECB) and others have held interest rates elevated in recent months in an attempt to bring inflation back down toward target, following a post-pandemic surge in prices.
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
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.
China Economic Slowdown To Persist Through 2028: IMF
The world's second-largest economy last year saw some of its slowest growth in decades, as a debt crisis in the property sector added to geopolitical tensions and weakening global demand.
Shell Profit Tumbles On Lower Oil Prices
Post-tax profit slumped 54 percent after reaching an all-time high of $42.3 billion in 2022, when energy producer Russia's invasion of Ukraine sent oil and gas prices soaring, boosting earnings across the industry.
Most Asian Markets Retreat As Fed Crushes March Rate Cut Hope
After a much-anticipated meeting, Fed policymakers acknowledged that inflation was going in the right direction and that they expected to begin lowering borrowing costs this year from their two-decade highs.
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". The bank employed around 85,000 people globally in 2022.
Microsoft, Google Ride AI Wave As Revenues Surge
The tech titans have made big bets on generative AI, with their cloud computing divisions seeing a boost in demand as clients seek the hefty -- and more expensive - computing power that drives the technology.
US Judge Voids Elon Musk's $56 Billion Tesla Compensation
The judge in Delaware Chancery Court ruled that the plaintiff, a Tesla shareholder named Richard Tornetta, was "entitled to rescission," approving the annulment of Musk's 2018 humongous compensation agreement worth as much as $55.8 billion.
US Fed Rate Decision Could Hold Clues On Timing Of Future Cuts
Following a post-pandemic surge in inflation, the Fed rapidly hiked interest rates in a bid to bring the price-increase measurement back down towards its goal of two percent -- with surprising success.
The $12.5 Billion Fraud That Has Shocked Vietnam
Now, property tycoon Truong My Lan is facing a trial in the country's biggest ever fraud case, accused of embezzling $12.5 billion by investigators after being arrested in a national corruption crackdown analysts say has hit the economy and unsettled foreign investors.
China Overtakes Japan As World's Biggest Vehicle Exporter
China's global dominance in electric cars helped it overtake Japan as the world's biggest vehicle exporter last year, official data confirmed Wednesday.
China Quietly Expanding Influence In Taliban-ruled Afghanistan
While Beijing has played down the formality of these growing links, it is steadily increasing investment and exposure -- a relationship that could benefit both parties, analysts and diplomats say.
Santander Posts Record Profit In 2023 After Rate Hikes
Spanish banking giant Santander posted a record 11.1-billion-euro ($12 billion) net profit for 2023 on Wednesday as higher interest rates and a rise in global clients helped to cushion the impact of a windfall tax.
H&M Shares Tumble As CEO Steps Down
H&M chief executive Helena Helmersson announced Wednesday she was stepping down, sending shares in the fashion retailer tumbling as the Swedish company reported lower-than-expected profits in the fourth quarter.
Toyota Sets New Global Record For Annual Vehicle Sales
Japan's Toyota said Tuesday that it sold a record 11.2 million vehicles in 2023, cementing its position as the world's top-selling automaker for the fourth successive year thanks to a recovery in demand in all regions and easing semiconductor shortages.
Amazon Scraps Buyout Of IRobot Vacuum Maker After EU Objections
Amazon on Monday said it was dropping its plans to buy the iRobot vacuum maker after the EU's antitrust authority objected to the plan over competition concerns.
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.
Wall Street Girds For Ugly Boeing Earnings As CEO Faces Scrutiny
Both Alaska and United Airlines resumed service on the MAX 9 over the weekend following a three-week grounding after a panel blowout necessitated an emergency landing. The incident has heaped scrutiny on Boeing and CEO David Calhoun.
China's Evergrande: What Happens Next After Liquidation Order?
The firm's astronomical debt has become emblematic of a years-long crisis in China's property market -- with knock-on effects across the world's second-largest economy.
Quality Control At Heart Of Latest Boeing Crisis
Boeing is facing intensifying scrutiny over its quality control practices in the aftermath of a near-catastrophic Alaska Airlines flight three weeks ago when a panel blew out.
Tesla Sees Slower 2024 Volume Growth As Earnings Miss Estimates
Tesla reported lower fourth-quarter operating profits despite higher revenues Wednesday, following a series of auto price cuts as Elon Musk's electric vehicle giant warned of slower volume growth in 2024.
US Approves Inspection Program To Return Boeing 737 MAX To Service
Shortly after the Federal Aviation Administration announced inspection protocols on the Boeing 737 MAX 9, United Airlines said it expects grounded aircraft to return to service starting Sunday.
ECB To Stand Pat And Urge Patience On Rate Cuts
The European Central Bank is expected to stand pat Thursday and call for patience in the ongoing battle against inflation, pushing back against market hopes of rapid interest rate cuts.
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.
Fears Over Economy Grow As German Rail Begins Longest Strike
Transport Minister Volker Wissing has slammed as "destructive" the six-day industrial action that heaps further pressure on supply chains that are already facing disruption because of attacks by Yemen's Houthi rebels on shipping via the Red Sea.
Netflix Subscribers Jump Despite Price Hikes
Netflix finished 2023 with slightly more than 260 million subscribers worldwide, with a profit of $938 million in the final quarter versus just $55 million in the same period a year earlier.
Alaska Airlines Finds Many Loose Bolts On Its Boeings As United Questions Orders
Boeing came under renewed pressure Tuesday as the head of Alaska Airlines said inspections carried out after a dangerous incident had found many loose bolts on its 737 MAX 9 aircraft.
FAA Recommends Inspections For More Boeing Models
The US Federal Aviation Administration has recommended that airlines inspect door plugs on Boeing 737-900ER jets after a blowout on another type of aircraft with a similar mid-cabin exit earlier this month.
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