The Supreme Court of Panama has canceled the contract of Hong Kong-based company CK Hutchison responsible for managing two ports located at opposite ends of the Panama Canal. This decision adds more uncertainty to the earlier agreement about selling Hutchison Global Port assets to a group of investors. The Supreme Court of Panama, following a thorough examination of the matter, determined that...

American Apple Inc. reported a 16% rise in revenue during the first quarter of its fiscal year 2026 and also provided a positive outlook for the current period. For the quarter ending on December 27, the company reported a net income of $42.097 billion, which is equivalent to $2.84 per share, compared to $36.33 billion, or $2.40 per share, from the same period last year. Revenue increased to...

According to Reuters, citing Nikkei, activist investor Elliott Investment Management is looking into the possibility of making a tender offer for shares in Toyota Industries, a Japanese company that produces industrial goods. Elliott is the biggest independent investor in Toyota Industries and recently declared that it holds 6.65% of the company's shares. According to sources from Nikkei, its...

American Amazon.com Inc. will be closing its Amazon Fresh grocery stores and automated Amazon Go convenience stores, as stated in its blog post. The company is shifting its focus to delivering online food orders and expanding the Whole Foods Market network, which specializes in natural and premium products. Some of the closing locations will be transformed into Whole Foods stores. Amazon...

US bank Citigroup Inc. laid off around 1,000 employees this month and is getting ready for more layoffs in March, according to Reuters, which is quoting people who know about the situation. These new layoffs are expected to happen after the bonus payments are done, as per the same sources. Citigroup's CEO, Jane Fraser, is still working on reorganizing the bank to save costs, deal with...

Paramount Skydance Corp. has prolonged its aggressive bid to purchase Warner Bros. Discovery (WBD) by about a month, until February 20, to allow shareholders additional time for deliberation. As of January 21, the initially stated date, Paramount had obtained tender orders from owners of 168.5 million WBD shares, accounting for 6.8% of the overall outstanding shares. Paramount announced its...

Investment company Berkshire Hathaway Inc. might sell its shares in American food company Kraft Heinz Co., which it has owned for more than ten years. This information was shared by Kraft Heinz in a document submitted to the Securities and Exchange Commission (SEC). Berkshire Hathaway is the biggest shareholder of Kraft Heinz, holding 27.5% of the company's shares, which amounts to 325.442...

Netflix Inc. has secured exclusive global streaming rights to feature films from Sony Pictures Entertainment following their theatrical and pay-per-view releases, according to a joint announcement by both companies. This long-term agreement will start being implemented later this year as rights become available in different regions. Netflix plans to have full global access to these films by early...

Germany's RWE has entered into a final purchase agreement to supply 1 million tonnes of liquefied natural gas (LNG) for a period of 20 years with Texas LNG Brownsville LLC. The LNG project, which has a total production capacity of 4 million tonnes of LNG annually, is being developed by Glenfarne Group in Texas. The specific terms of the contract have not been disclosed, but it is mentioned that...