TotalEnergies cautioned that lower oil and LNG prices adversely impacted its results in the second quarter, even with higher production levels. From April to June, hydrocarbon production rose by roughly 2.5% compared to the corresponding period in 2024, reaching 2.44 million barrels of oil equivalent daily. The average selling price of the company’s liquid hydrocarbons from April to June was...

Apple Inc. intends to invest $500 million in MP Materials Corp., the operator of the sole rare earth mine in the U.S., as reported by Fox Business, referencing multiple sources. A formal statement regarding the investment is anticipated to be issued shortly. As reported by Fox Business, the firms plan to establish facilities in Fort Worth, Texas, and Mountain Pass, California. The...

Stellantis NV, a European automaker, intends to cease its investment in Symbio, a joint venture focused on manufacturing hydrogen fuel cells for vehicles, by 2026. Michelin and Forvia, both part of the joint venture, reported this in reply to a request from Bloomberg. “Forvia acknowledges its awareness of Stellantis' plans to cease investment in its hydrogen operations, including Symbio,...

Elon Musk's aerospace firm SpaceX is putting $2 billion into xAI, another venture of the American billionaire. This information comes from The Wall Street Journal, referencing knowledgeable sources. Elon Musk's aerospace firm SpaceX is putting $2 billion into xAI, another venture of the American billionaire. This information comes from The Wall Street Journal, referencing sources. SpaceX's...

The Italian brand Loro Piana, a subsidiary of LVMH Moet Hennessy Louis Vuitton SA, has been subjected to judicial oversight due to claims of collaborating with a contractor associated with labor violations, according to the Financial Times. A court in Milan has decided that the brand will be subjected to external oversight for one year to tackle supply chain violations. Should all legal...

Jensen Huang, the CEO of American Nvidia Corp., sold 225,000 company shares for $36.4 million. This was disclosed in a company announcement on the US Securities and Exchange Commission (SEC) website. The shares were sold under a plan established in March, allowing for the sale of up to 6 million shares by the year's end. In June, he had already sold approximately $15 million in securities as part...

Tesla is set to launch its inaugural showroom in India next week and is expected to start delivering electric vehicles to customers as soon as next month, according to Bloomberg, referencing sources. Tesla's inaugural showroom in India will launch in Mumbai on July 15, and a second location in New Delhi is set to open at the end of July. According to the sources, the showrooms will serve as...

Italian chocolatier and confectioner Ferrero has reached an agreement to acquire American WK Kellogg, known for its breakfast cereals, according to a joint announcement from both parties. Kellogg shareholders will receive $23 per share from Ferrero. The agreement values the whole company at $3.1 billion. It is anticipated to be concluded in the latter half of the year.  The Wall Street...

BPER Banca, the fourth-largest lender in Italy, has acquired over 35% of its smaller competitor Banca Popolare di Sondrio (BPSO), according to the Italian Stock Exchange. BPER Banca stated that the stake was sufficient to guarantee complete control over BPSO.  The Italian bank enhanced its proposal for BPSO last week. It is providing 1.45 of its newly issued shares along with 1 euro for...