Business

413 summaries

All (413)Corporate (175)Economy (68)Automotive (27)Markets (26)Legal (25)Technology (23)

Volkswagen Reports 14% Profit Drop

Volkswagen reported a 14% drop in first-quarter operating profit , falling to €2.5 billion ($2.9 billion) . The automaker cited higher U.S. tariffs, intensifying competition from Chinese car brands, and geopolitical tensions as key challenges. The company's revenue also declined by 2.5% to €75.7 bil

Apr 30, 3:11 AM ET Est. Read: 1 Mins

9 articles from 3 publishers

BusinessCorporate

Alphabet Beats Estimates on Strong AI-Driven Cloud Growth

Alphabet reported first-quarter revenue of $109.9 billion , exceeding Wall Street estimates of $107.2 billion, according to LSEG data. The growth was driven by a surge in enterprise spending on artificial intelligence, which delivered the best quarter for its cloud unit since the AI boom began. The

Apr 29, 6:26 PM ET Est. Read: 3 Mins

7 articles from 3 publishers

BusinessRetail

UK Bans Eucerin Ad Over Misleading Age Claim

The UK’s Advertising Standards Authority (ASA) has banned a billboard advertisement for Eucerin Hyaluron-Filler Epigenetic Serum after ruling its claim to make users look up to five years younger was misleading. The poster, displayed at London's Balham Underground station, advertised the £49 product

Apr 29, 12:55 PM ET Est. Read: 2 Mins

3 articles from 3 publishers

More Business Summaries

Corporate

Purdue Pharma Dissolves After Judge Approves Criminal Sentence

OxyContin maker Purdue Pharma has dissolved after a federal judge approved its criminal sentence, resolving thousands of lawsuits linked to the opioid crisis. According to multiple reports, U.S. District Judge Madeline Cox Arleo delivered the sentence on Tuesday in Newark, New Jersey, following hour

Apr 28, 10:14 PM ET·3 min read

8 articles from 7 publishers

Economy

GM Raises 2026 Earnings Outlook on Tariff Refund

General Motors (GM) has raised its 2026 earnings outlook after expecting a $500 million refund from tariffs struck down by the U.S. Supreme Court, according to multiple reports. The Detroit automaker reported strong first-quarter results and adjusted its financial guidance accordingly. The refund st

Apr 28, 1:39 PM ET·2 min read

6 articles from 4 publishers

Technology

Big Tech's $600B AI Bet Faces Investor Scrutiny

Big Tech companies are set to invest approximately $600 billion into artificial intelligence this year, a historic outlay that has raised questions among investors about the return on such substantial capital expenditure. The upcoming quarterly earnings reports from Alphabet, Microsoft, Meta, and Am

Apr 28, 11:36 AM ET·4 min read

13 articles from 4 publishers

Labor

Apple to Close First Unionized US Store

Apple plans to close its first unionized U.S. store in Towson, Maryland, by June, a move that workers allege is retaliation for organizing. According to The Guardian , the International Association of Machinists and Aerospace Workers Coalition of Organized Retail Employees (IAM Core) filed an unfair

Apr 28, 11:36 AM ET·2 min read

3 articles from 3 publishers

Corporate

BP Profit More Than Doubles to $3.2 Billion

BP's first-quarter profit more than doubled year-on-year to $3.2 billion , its highest in two-and-a-half years, the British oil major reported on Tuesday. The surge was driven by exceptional oil trading results amid the Iran war, which helped boost oil prices and European majors' earnings from the e

Apr 28, 3:28 AM ET·2 min read

8 articles from 5 publishers

Corporate

Shell Acquires ARC Resources for $16.4B

Shell has agreed to acquire Canadian shale producer ARC Resources for $16.4 billion, including debt, marking its largest acquisition since buying BG Group a decade ago. The deal includes $13.6 billion in cash and shares and taking on ARC’s $2.8 billion debt. The acquisition will add approximately 37

Apr 27, 1:59 PM ET·3 min read

4 articles from 3 publishers

Corporate

United Airlines CEO Proposes Merger with American

United Airlines CEO Scott Kirby proposed a merger with rival American Airlines, arguing it would benefit travelers and boost the U.S. economy. Despite his efforts, American Airlines rejected the idea, citing antitrust concerns and potential harm to competition. In an April 27 statement, Kirby expres

Apr 27, 1:59 PM ET·1 min read

3 articles from 3 publishers

Corporate

China Blocks Meta's $2B Manus Acquisition

China has blocked Meta Platforms' $2 billion acquisition of artificial intelligence startup Manus, citing national security concerns. The National Development and Reform Commission (NDRC) issued a statement prohibiting foreign investment in the deal and requiring all parties to withdraw from the tra

Apr 27, 9:42 AM ET·3 min read

13 articles from 8 publishers

Economy

Oil Prices Surge Amid US-Iran War Deadlock

Oil prices extended gains on Thursday amid concerns that supply disruptions caused by the US-Iran war will persist. Brent crude futures for June rose $1.91, or 1.62%, to $119.94 a barrel as of 0057 GMT after gaining 6.1% in the previous session according to Reuters . The June contract, which has inc

Apr 26, 6:54 AM ET·4 min read

29 articles from 6 publishers

Technology

SK Hynix Posts Record $25B Profit on AI Chip Demand

SK Hynix, the world's second-largest memory chipmaker, reported a record first-quarter operating profit of $25 billion , marking a fivefold increase from the same period last year. The company's sales nearly tripled to $35.6 billion year-on-year, resulting in an unprecedented operating profit margin

Apr 24, 12:35 PM ET·1 min read

10 articles from 3 publishers

Corporate

Nike Cuts 1,400 Jobs in Efficiency Push

Nike announced it will cut approximately 1,400 jobs in its global operations division as part of a broader efficiency push. The layoffs primarily affect technology workers across North America, Asia, and Europe. The job cuts are the latest step in Nike's turnaround strategy under CEO Elliott Hill, w

Apr 24, 10:37 AM ET·1 min read

3 articles from 3 publishers

Markets

Bank of England Warns Global Stock Markets Overvalued

The Bank of England has warned that global stock markets are overvalued and likely to fall as current share prices do not fully reflect the many risks facing the global economy. Sarah Breeden, deputy governor for financial stability, made this warning in an interview with BBC , emphasizing that asse

Apr 24, 6:21 AM ET·2 min read

4 articles from 4 publishers

Automotive

Porsche Sells Stakes in Bugatti Rimac

Porsche has agreed to sell its stakes in sportscar makers Bugatti and Rimac to a consortium led by HOF Capital, co-founded by Onsi Sawiris. According to multiple reports, Porsche will divest a 45% stake in Bugatti Rimac, the joint venture hosting the iconic Italian brand, as well as a 20.6% stake in

Apr 24, 6:21 AM ET·1 min read

3 articles from 3 publishers

Automotive

Chinese Automakers Expand Globally Amid Domestic Sales Decline

Chinese automakers are aggressively expanding into global markets amid declining domestic sales and intense competition. According to TimesLIVE, China exported 5.8 million cars in 2023, an increase of almost 20% from the previous year, with overall vehicle exports expected to grow by 4% to reach 7.4

Apr 23, 7:39 PM ET·3 min read

23 articles from 5 publishers

Corporate

Lockheed Martin Sees Growth in Trump's Pentagon

Lockheed Martin's CEO Jim Taiclet described the Trump administration as a 'golden opportunity' for the company's growth during an earnings call on Thursday. The defense contractor is expanding its work with the federal government amid heightened demand driven by conflicts in the Middle East and othe

Apr 23, 7:39 PM ET·1 min read

3 articles from 3 publishers

Corporate

Meta Cuts 8,000 Jobs as AI Spending Soars

Meta plans to cut approximately 8,000 jobs , or 10% of its workforce , starting May 20 as part of a broader restructuring aimed at bolstering its artificial intelligence (AI) initiatives. The company announced the job cuts in an internal memo on Thursday. The layoffs come as Meta accelerates its inv

Apr 23, 3:56 PM ET·2 min read

6 articles from 5 publishers

Corporate

Warner Bros Shareholders Approve $110B Paramount Merger

Warner Bros. Discovery shareholders have approved an $110 billion merger with Paramount Skydance, marking a significant step in reshaping the media landscape. The deal still requires approval from the U.S. Department of Justice and European competition regulators before it can be finalized by Septem

Apr 23, 11:42 AM ET·3 min read

12 articles from 9 publishers

Economy

Global Jet Fuel Crisis Threatens Air Travel

The ongoing conflict in the Middle East has triggered a global crisis in jet fuel supplies. The Strait of Hormuz remains closed, disrupting crude oil imports for major refining nations like South Korea, Singapore, India, and Japan. Jet fuel prices have more than doubled since February, reaching as h

Apr 23, 7:49 AM ET·1 min read

7 articles from 7 publishers

Corporate

Sun Sues Trump's Crypto Firm Over Alleged Fraud

Cryptocurrency billionaire Justin Sun has sued World Liberty Financial , a digital currency venture co-founded by President Donald Trump and his sons, alleging fraud and illegal freezing of his tokens worth up to $billion. The lawsuit, filed on Tuesday in California federal court, accuses the compan

Apr 22, 3:29 PM ET·3 min read

5 articles from 5 publishers

Technology

Tesla Reports $1.4B Surplus Amid AI Spending Push

Tesla reported a surprise cash surplus of $1.44 billion in the first quarter of 2026, providing temporary financial relief as it prepares for substantial investments in AI development and robotics. The company expects negative free cash flow for the rest of the year due to its ambitious $25 billion

Apr 22, 1:09 PM ET·2 min read

9 articles from 5 publishers

Legal

NY AG Sues Coinbase, Gemini Over Illegal Gambling

New York Attorney General Letitia James has filed lawsuits against cryptocurrency companies Coinbase and Gemini Titan , alleging that their prediction markets violate state gambling laws. According to multiple reports, the lawsuits were filed on Tuesday in Manhattan state court. The Attorney General

Apr 22, 1:09 PM ET·2 min read

4 articles from 3 publishers

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Business

Volkswagen Reports 14% Profit Drop

Alphabet Beats Estimates on Strong AI-Driven Cloud Growth