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...

Warren Buffett's investment firm Berkshire Hathaway keeps cutting its holding in Bank of America Corp. as reported by MarketWatch. According to documents sent to the SEC, Berkshire sold approximately $383 million worth of the bank's 9.6 million shares on October 3, 4, and 7. Currently, the investment firm holds approximately 784.5 million shares of BofA. Therefore, Berkshire holds a 10.1% share...

KLM, the Dutch airline, has stated its plans to reduce expenses, sell off certain investments, and explore the possibility of selling assets in order to make lasting improvements to its operational and financial performance. The company is confident that optimizing the business will lead to a short-term increase in operating profits by €450 million. It anticipates reaching a profit margin...

Microsoft Corp. plans to invest €4.3 billion in the next two years to enhance its infrastructure for cloud and AI development in Italy. In a statement, Microsoft announced plans to invest in creating infrastructure for hyper-scale cloud data centers and AI data centers, in addition to providing training for over 1 million digital professionals by the end of the upcoming year. The company stated...

Analysts at Goldman Sachs anticipate that the strike on the Atlantic coast ports in the USA will have a minimal impact on the country's GDP but will negatively affect retailers and manufacturers in industries reliant on sea transportation, such as automobiles, writes MarketWatch. On the first of October, tens of thousands of port workers on the Atlantic coast initiated the first strike in fifty...

In the third quarter, Tesla, an American company, saw a 6.4% rise in deliveries compared to the previous year, reaching 462.89 thousand electric cars, as stated in the company's official statement. Sales of Model 3 and Model Y, lower-priced models, accounted for 439,975 thousand, while the remaining sales totaled 22,915 thousand. The average estimate from analysts on Wall Street was for the...

According to sources familiar with the matter, Boeing Co. may raise a minimum of $10 billion by issuing new shares, as stated by Bloomberg. The company needs the funds to refill reserves, which were drained due to the employees' strike, among other reasons. As per the agency's informants, the company is exploring different alternatives with advisors. According to sources from Bloomberg, Boeing...

TotalEnergies of France is acquiring a 45% interest in the Eagle Ford Basin dry gas project in Texas from Lewis Energy Group, a US company. The French company stated that the agreement enhances TotalEnergies's involvement in the American gas value chain. The acquired assets are expected to yield approximately 400 million cubic feet of gas per day by 2028. During April, TotalEnergies purchased...

The Financial Times reports that the US FBI is investigating Hone Capital, a California-based venture capital fund financed by Chinese money, to determine if it has obtained trade secrets from US technology startups. Hone Capital was founded in 2015 with an initial investment of $115 million from a Chinese private equity firm. The venture fund invested in many IT startups, such as self-driving...