Due to their improper business practices, two divisions of Amazon.com Inc. have been penalized €10 million by Italy's antitrust authorities. The authority points out that repeat purchases rather than one-time sales are the default setting for a variety of products sold on the www.amazon.it platform. This holds true for goods that are offered on Amazon's marketplace directly as well as by other...

According to an open letter from Google CEO Sundar Pichai, U.S. Google, a component of Alphabet Inc., will combine the division in charge of building the Android software and Chrome browser with its hardware development business, specifically focusing on Pixel smartphones and Fitbit wearable devices. Pichai claims that the combination will spur innovation and strengthen the ecosystems for Chrome...

According to a proposal put out by the government in reaction to Credit Suisse's failure, Swiss bank UBS Group AG will have to provide a substantial amount of capital, as stated by Finance Minister Karin Keller-Sutter in an interview with the Tages-Anzeiger. She added that UBS might need to set aside an additional $15 billion to $25 billion in capital, calling that number "plausible." The Swiss...

South China Morning Post, citing documents on the exchange's website, reports that China's Sichuan Baicha Baidao Industrial—owner of the well-known ChaPanda tea shop chain—plans to begin an initial public offering (IPO) on the Hong Kong Stock Exchange for HK$2.5 billion ($330 million). The offering might be the biggest made in Hong Kong in 2024. Baicha Baidao plans to sell 147.7 million shares...

Kenny Wilson, the CEO of Dr. Martens Plc, a footwear firm headquartered in the United Kingdom, announced in a press release that he would retire prior to the end of the current fiscal year, which started in April. Ije Nwokorie, the chief brand officer of Dr. Martens, will take over as CEO. According to a press statement, the shoe manufacturer will reveal its FY 2024 results on May 30. These...

The production and innovation center in the city of Hefei, in the Anhui province of eastern China, is set to expand with the investment of €2.5 billion from the automaker Volkswagen Group China. A portion of these funds will also be utilized to expedite the manufacturing of two smart electric vehicles under the Volkswagen brand, on whose development the German business is presently collaborating...

According to The Hill, on Monday the New York court opened hearings in the criminal case involving former US President Donald Trump. For the first time in American history a former head of state is being tried in a criminal case. Trump faces accusations of document falsification during the legal processes, which are commonly known as the "Stormy Daniels case" in the media. The Wall Street...

Friday's trade saw gold prices break beyond $2400 per ounce for the first time, setting yet another milestone. Quotes for June gold contracts on the New York Comex exchange had increased 1.7% to $2413.9 per ounce on Friday. The price of the precious metal has increased by more than 14% since the year's commencement. According to MarketWatch, the precious metals rally is driven by the Federal...

Due to potential health hazards, American Procter & Gamble Co. (P&G), the largest consumer products maker in the world, is voluntarily recalling approximately 8.2 million packets of Tide, Gain, Ace, and Ariel laundry pods in the United States and approximately 57,000 more packs in Canada. Product releases for these range from September 2023 to February 2024. According to P&G, the...