Airbus SE, the European aerospace company, more than doubled its net profit in the second quarter, with a revenue increase of 28%. During the reporting period, the company's net income reached €1.66 billion, up from €732 million in the same quarter the previous year. Airbus's primary performance metric, adjusted EBIT, rose 1.5 times to €2.43 billion. The firm's quarterly earnings rose to €20.53...

Eni from Italy and TotalEnergies from France have reached a final investment decision (FID) to develop the Cronos gas field, situated offshore Cyprus, with the goal of launching the first Cypriot gas to market in 2028, the partners revealed. The initiative, managed by Eni, is projected to generate 500 million cubic feet of gas daily (2.8 million tons of LNG annually). The feedstock will be...

Visa Inc., the company managing the biggest payment system in the US, intends to eliminate around 2,600 positions, representing about 7% of its total workforce, according to Bloomberg, referencing a letter from CEO Ryan McInerney addressed to staff. These actions are designed to enhance Visa's operational effectiveness amidst intense rivalry in the payment services sector. "I firmly believe we...

The Wall Street Journal reports, referring to sources, that Nvidia Corp. is in talks to offer a financial guarantee to OpenAI to assist the AI firm in utilizing SoftBank Group's US data center computing resources. SoftBank's initiative in Ohio includes constructing a 10 GW data facility. The total expense, factoring in chip costs, is anticipated to surpass $500 billion. The initial stage of the...

European space startup The Exploration Company (TEC) is negotiating to secure hundreds of millions in funding to advance a project aimed at producing reusable space capsules, according to the Financial Times (FT), referencing sources. The newspaper reported that the firm is in talks to secure a minimum of $300 million, which could potentially raise the startup's valuation beyond $2 billion. A...

German battery manufacturer Varta has applied for bankruptcy, according to a Stuttgart district court representative who spoke with Reuters. The agency announced a day earlier that the struggling company intended to take this action after its shareholders—sports car manufacturer Porsche AG and Austrian investor Michael Tojner—declined to offer more funding. Currently, Varta is confronted with a...

Uber Technologies has reduced its customer and driver support team by 10% as a result of adopting artificial intelligence and a worldwide organizational streamlining initiative, Bloomberg reports, referencing an internal memo. Megha Yethatika, vice president of global customer operations at Uber, noted in the memo that the organization has become overly complex and fragmented, hindering the...

Chip producer Advanced Micro Devices (AMD) has committed to investing as much as $5 billion in Anthropic as a component of a chip agreement, according to the company’s press service. According to The Wall Street Journal (WSJ), this marks AMD's initial investment in the Claude developer. On July 22, the firms revealed a strategic alliance. According to the agreement, Anthropic will acquire AMD's...

Samsung Electronics of South Korea is creating a division to enhance robotics development and its commercialization, the company revealed. The robotics unit will be named RX (Robotics eXperience) and will directly report to the CEO of Samsung. The division will manage mid- and long-term strategy, business activities, and the advancement of essential technologies in the sector, while also...