Truth's parent company, Trump Media & Technology Group, announced on April 1 that it lost over $58 million in 2023 and could find it difficult to pay its debts going forward. According to Reuters, on April 1, shares of Trump Media & Technology Group (TMTG), the company that runs Truth, a social network designed to facilitate communication between Donald Trump and his fans, dropped by...

The Federal Reserve (Fed) report states that the rise in the stock market contributed to the wealthiest 1% of Americans having a record $44.6 trillion at the end of 2023. The list of the 1% of the wealthiest Americans includes those whose fortune exceeds $11 million. They made $2 trillion more money in the fourth quarter, and all of that gain came from their current shares. At the conclusion of...

The US oilfield services business SLB (formerly Schlumberger) has made a NOK 4.1 billion ($382 million) investment in the Norwegian business Aker Carbon Capture (ACC), which creates technology for atmospheric carbon dioxide capture. A joint venture will be established as a result of the agreement, with Schlumberger owning 80% and ACC stockholders owning 20%. Schlumberger is anticipated to invest...

The European automaker Stellantis NV offered to end employment contracts to roughly 3.6 thousand workers at its Italian operations, according to a report from the trade union FIOM-CGIL. MarketWatch reports, referring to the union's statement, that the firm specifically plans to do this by reducing the workforce at its operations in Melfi, Pomigliano D'Arco, Mirafiori, and Termoli. While...

Anthropic, an AI business, has received a $2.75 billion investment from Amazon, which raised the share of Amazon’s investment in the company to $4 billion. According to a statement from Anthropic, Amazon will invest $2.75 billion in the business, Bloomberg reports. According to the agency, Amazon is wrapping up an agreement from 2023 to help the artificial intelligence startup and deepen their...

According to the Economy and Finance Ministry of Italy, the government has sold securities worth €650 million to lower its interest in Banca Monte dei Paschi di Siena as part of a previously agreed plan. 157.5 million Monte Paschi shares were sold by the state for 4.15 euros each, which is 2.5 percent less than their closing market value on Tuesday. The papers were offered to Italian and...

After nearly 20 years of litigation, Visa Inc. and Mastercard Inc. achieved a deal with the U.S. merchant industry that included a reduction in interchange fees on credit cards. According to Visa, small enterprises make up more than 90% of the community. The deal will lower interchange rates for merchants in the United States and will maintain them there for five years. The conditions of the...

International trader Vitol reduced its supply of oil and oil products by 2.5 times in 2023, from 7.4 million barrels per day to 3 million barrels per day. 546 million tons of oil equivalent were delivered overall, an increase of 4% over 2022. Increased deliveries of LNG and natural gas were the main cause of the increase. Due to decreased oil prices, Vitol's revenue decreased by over 21% to...

One of the biggest FMCG companies in the world, British-Dutch Unilever, intends to split off its ice cream division into a different business. The procedure will start soon and be finished by the end of 2025. In 2023, Unilever's ice cream division brought in €7.9 billion in revenue. Among the top ten global brands owned by the division are Wall's, Magnum, and Ben & Jerry's. Following the...