International diamond mining company De Beers reported preliminary data showing a 10.1 percent decrease in diamond sales to $410 million in the sixth business cycle of the current year (July 10–25). The fifth business cycle lasted from June 5 to June 20. Sales grew from 450 million to 456 million for the time period. In the sixth business cycle, sales of diamonds decreased 35.7 percent...

The collaboration between the two businesses includes, among other, joint development of an electric sedan and a SUV for China's middle class. German carmaker Volkswagen will to pay around €700 million for a 4.99% share in Chinese electric vehicle producer Xpeng to bolster its position in the Chinese electric vehicle market, writes Der Spiegel quoting to Ralf Brandstetter, Volkswagen’s CEO....

Spotify's stock dropped by 15% following the release of its second quarter report. The streaming service reported both rising revenue and customer growth, but the company’s net loss increased to €302 million. After the Swedish corporation Spotify released its second quarter report, its stock price dropped 15% due to a €302 million net loss, which was higher than analysts anticipated. Spotify's...

According to the agency, these numbers are about in line with those from the previous year. The American company Apple will create 85 million iPhone 15 devices in 2023 approximately in keeping with prior years' production levels. Despite a forecasted decline in the smartphone industry, the corporation is "aiming to hold shipments steady," according to the statistics. The company is also...

Once the deal is completed, TotalEnergies will have access to the Turkish company's hydroelectric assets, which have a total capacity of 166 MW. French oil and gas giant TotalEnergies has agreed to buy a 50% stake in the Turkish firm Rönesans Enerji to establish a joint venture for the growth of renewable energy in Turkey. According to the press release, Rönesans Enerji has set a goal of...

The Swedish manufacturer does not regard Zanussi as a core asset anymore. In the upcoming years, Swedish consumer electronics manufacturer Electrolux may divest the Italian Zanussi brand from its portfolio since the company no longer views it as a key asset. In a statement released on Thursday, the business said that Electrolux Group "has started preparations for the potential sale of Zanussi...

The sum exceeded $42 billion. One of the biggest liquefied natural gas (LNG) producers in the world, Qatar's state-owned QatarEnergy, had a 58% increase in net profit in 2018 compared to 2021, as shown in the corporation’s financial report. QatarEnergy's earnings jumped from 97.9 billion riyals ($26.88 billion) to 154.6 billion riyals ($42.46 billion) under international financial reporting...

The corporation has released reports for the years 2021 and 2022, which disclosure was long overdue. By the end of 2022, Evergrande, one of China's leading real estate developers, would have reduced its total debt holdings by 5.5% year over year to 2.437 trillion yuan (about $339.9 billion). This is in accordance with the real estate developer's financial report, which was posted on the Hong Kong...

The typical classification period for these records is 30 years, but in this case the MPs decided it was important to extend it in order to "ensure proper confidentiality," according to Reuters. The Swiss Parliament's Investigation Commission, which was in charge of looking into how the bank Credit Suisse failed, made the decision to keep information about its findings under wraps for 50 years,...