Shares of the German sportswear company Puma dropped by nearly 20% following the announcement of initial financial results for 2024. On January 23, they had a value of €33.55 (-19.86%). According to Bloomberg, this decline was the largest for the company in the past twenty years. Preliminary results indicate that Puma's net profit for 2024 reached €282 million, representing a 7.5% decline...

Mitsubishi Motors, a Japanese automotive company, reportedly has no intentions of joining the entity that could be formed from the merger between Honda Motors and Nissan Motors, according to Kyodo News Agency citing sources. At the close of December last year, the leaders of Honda Motors and Nissan Motors declared the formal initiation of merger discussions, along with the commencement of...

United Airlines (UAL), among the three biggest airlines globally, announced earnings per share of $3.26 for the fourth quarter of 2024. The company’s earnings surpassed expectations, increasing by 7.8% compared to the previous year, reaching $14.7 billion. As UAL indicates, consistent demand for higher-priced seating, like business class, overall international air travel demand, and the appeal of...

The Czech car manufacturer Skoda (a member of Volkswagen Group) plans to finalize the building of its automobile factory in Vietnam by the first quarter of this year. This was revealed during a meeting in Prague between Vietnam's Prime Minister Phạm Minh Chính and Skoda's leader Klaus Zellmer. Skoda has invested roughly $500 million into the project. In 2022, the Czech firm and Vietnam's Thanh...

One-third of the tundra, forests, and swamps in the Arctic have turned into sources of carbon dioxide emissions due to global warming, writes The Guardian citing a study released in the journal Nature Climate Change. For thousands of years, Arctic ecosystems have stored vast quantities of potential carbon emissions within permafrost. However, as worldwide temperatures increase, they are emitting...

The Chinese firm ByteDance, the owner of the social media platform TikTok, intends to invest over $12 billion in building artificial intelligence (AI) infrastructure, which will encompass acquiring AI chips, according to sources cited by the Financial Times. “ByteDance, the owner of TikTok, intends to invest over $12 billion in artificial intelligence infrastructure this year,” the publication...

Billionbrains Garage Ventures, the parent organization of the financial platform Groww Invest Tech, intends to initiate an IPO in India in 2025, according to Bloomberg, which references sources. The sources indicated that the offering could generate $750 million or more. Billionbrains Garage aims to achieve a valuation ranging from $7 billion to $8 billion, according to their statement. JPMorgan...

On January 15, the Japanese firm Hino Motors, part of Toyota, reached an agreement with U.S. authorities to resolve a case concerning the submission of incorrect data regarding its diesel engines used in trucks and locomotives sold in the U.S. from 2010 to 2022. The overall expenses for fines and compensatory damages to federal and local agencies, environmental groups, and recall expenses will...

Oil and gas firm BP plans to eliminate 4,700 positions within the organization, along with over 3,000 contractor roles to lower expenses, BP CEO Murray Auchincloss informed staff, according to Bloomberg. Consequently, the organization is reducing approximately 5% of its staff. Auchincloss states that BP plans to cut costs even more, mainly by embracing digitalization, which involves implementing...