Uber Technologies, headquartered in the US and offering cab-hailing and food delivery services, reported a net profit for the first quarter of 2025, contrasting last year's loss, and surpassing market expectations. The firm's earnings, nonetheless, did not meet expectations. Uber announced a net income of $1.78 billion, equating to $0.83 per share, for the January-March quarter, in contrast to...

US food producer Tyson Foods experienced a significant decline in net profit during the second quarter of fiscal 2025, although the adjusted amount exceeded analysts' predictions. The firm announced a net income of $7 million, or 2 cents a share, for the January-March period, a decrease from $145 million, or 41 cents a share, a year prior. Earnings without one-off factors reached 92 cents per...

Apple Inc., located in the US, reported second fiscal quarter revenue and net income that exceeded market expectations. In a press release, the company announced that its net income for the quarter that ended on March 29 was $24.78 billion, or $1.65 per share, in contrast to $23.636 billion, or $1.53 per share, for the same period last year. Revenue grew to $95.359 billion, up from $90.753...

Bloomberg reports, citing sources, that South Korean LG Electronics Inc. has halted its plans for the IPO of its Indian subsidiary because of market fluctuations. They stated that the company has informed advisers about the possibility of delaying the IPO of LG Electronics India (LG India), originally scheduled for May. The ultimate decision is still pending, and LG might opt to launch the...

Hyundai Motor of South Korea revealed that it has signed a memorandum of understanding with Posco Holdings to collaborate on building a steel plant in the United States. As stated at the close of March, Hyundai Steel (a division of Hyundai Motor) intends to construct a 2.7 million tonnes annually steel plant in Louisiana by 2029. An investment of $5.8 billion is expected. "The Louisiana steel...

A congressional committee in the U.S. urged investment banks JPMorgan Chase & Co. and Bank of America to not engage in the preparations for the IPO of Chinese battery producer Contemporary Amperex Technology Co. (CATL) in Hong Kong, according to Bloomberg, referencing the document of the congressmen's request. BofA and JPMorgan are putting themselves and U.S. investors at “serious regulatory,...

The overall compensation for American Meta Platforms' founder and CEO Mark Zuckerberg in 2024 rose by $2.8 million, totaling $27.2 million, as announced by the company in a statement on the U.S. Securities and Exchange Commission (SEC) website. According to MarketWatch, this amount exceeds what any other leading executive at the company has been given. Since 2012, Zuckerberg's annual salary has...

The U.K.'s Competition Appeal Tribunal has filed a lawsuit against Google, a unit of Alphabet Inc., to claim over 5 billion pounds ($6.6 billion) in damages for its exploitation of a dominant position in the online search market to increase advertising costs. The class action lawsuit submitted on Wednesday claims that the IT giant is exploiting its power to limit competing search engines, thereby...

Louis Vuitton Moët Hennessy (LVMH, which includes brands like Louis Vuitton, Dior, jewelry label Tiffany, and cosmetics retailer Sephora) has ceded its position as the largest luxury goods firm by market capitalization in Europe to its competitor Hermès. On April 15, its shares dropped by 7.8 percent, whereas Hermès, known for its Birkin and Kelly handbags, grew by 0.2 percent, according to CNBC....