Companies & CEOs
EC recommends that the EU limit AI investments in third countries - 01/16/2025
The European Commission (EC) has issued a recommendation urging EU nations to reassess their companies' foreign investments in third countries regarding economic security. The EC document states that it pertains to three domains: semiconductors, artificial intelligence, and quantum technologies. The EC stated that export risk assessment is essential to prevent advanced technologies from “ending...
Bloomberg: China is considering sale of TikTok to Elon Musk - 01/15/2025
According to Bloomberg citing sources, Chinese firm ByteDance Ltd might sell the short videos app TikTok to Elon Musk. This situation may occur if the U.S. Supreme Court affirms the prohibition of the platform within the nation. In the discussion on January 10, American judges indicated that the likelihood of prohibiting the application is fairly high. In April 2024, US President Joe Biden...
Uber increases its net profit 12 times in Q3 - 11/01/2024
In the third quarter, Uber Technologies, a company located in the United States, experienced a twelve-fold increase in its net profit while offering taxi booking and food delivery services. The firm disclosed earnings of $2.61 billion, or $1.2 per share, for the July-September 2024 quarter, marking an increase from $221 million, or $0.1 per share, in the corresponding period the previous year....
American Express increases revenue in Q3 to record high - 10/21/2024
Amex, a top player in the U.S. credit card industry, saw a 2% rise in net profit and an 8% increase in revenue during the third quarter, reaching an all-time high. According to a press release by Amex, net income increased to $2.51 billion in the July-September period from $2.45 billion in the same period last year. EPS increased to $3.49 from $3.30, exceeding analysts' consensus prediction of...
General Motors to invest $625 million in lithium mining - 10/17/2024
General Motors, a U.S. car manufacturer, is set to form a partnership with Lithium Americas Corp, a mining company based in Canada, and will inject $625 million into the collaboration. As per a collaborative announcement, the joint venture will concentrate on extracting lithium carbonate at the Thacker Pass project in Nevada. GM will acquire a 38% ownership interest in the project. Lithium plays...
Amazon announces major investment in nuclear power - 10/17/2024
The Climate Pledge Fund from Amazon has spearheaded a $500 million investment in X-energy, a company working on small modular reactors (SMRs), as per X-energy's press office. In collaboration, Amazon and the startup plan to introduce over 5 GW of electricity to the US market by 2039. Also, Amazon has entered into deals to help progress nuclear power with Energy Northwest and Dominion Energy, as...
Swiss financial regulator orders UBS to finalize crisis plan - 10/16/2024
The Swiss financial regulator has mandated UBS to revise its contingency plan (living will) due to the increased risk from acquiring Credit Suisse last year. Finma has halted UBS's annual strategy approval and advised the bank to enhance its current action plan. In a statement, it was mentioned that more choices are necessary to enhance the crisis preparation and exit plan for systemically...
Volume of assets under BlackRock’s management exceeds $11 trillion - 10/14/2024
BlackRock Inc., the largest investment company globally in terms of assets under management, saw a 2% rise in net profit and a 15% increase in revenue during the third quarter. The amount of assets being managed by BlackRock grew by 26% to reach a new high of $11.48 trillion, due to both a rise in financial markets and an increase in client investments. As per the company's official statement,...
Apple remains the world's most expensive brand for the 12th consecutive year - 10/11/2024
According to the annual Best Global Brands ranking compiled by Interbrand Corp, Apple has maintained its position as the most expensive brand in the world for twelve years in a row. The Apple brand lost 3% of its value throughout the year, now standing at $488.9bn. The value of the Microsoft brand increased by 11% to reach $352.5bn, keeping it in second place. Amazon remains in third place,...
Samsung Electronics in Q3 increases revenue by 16-19% preliminarily - 10/08/2024
Samsung Electronics announced in a preliminary report that it recorded revenue between 78 and 80 trillion won ($57.9-59.3 billion) in the third quarter of 2024. The growth is expected to be between 15.7 and 18.7 percent compared to last year. It is anticipated that the operating profit for July-September 2024 will fall between 9-9.2 trillion won, showing an increase from 2.43 trillion won in the...
