The discussions of the Italian fashion label Prada regarding the acquisition of the Versace brand from Capri Holdings Ltd. have been threatened by the decline in global stock markets, as reported by The Wall Street Journal, citing sources. They stated that the parties had provisionally consented to a deal worth approximately $1.4 billion and intended to reveal it on the morning of April 10, but...

Analyst Ryan Brinkman from JPMorgan Chase & Co., among the most bearish analysts on Wall Street, reduced his profit outlook for Tesla, citing the extent of adverse customer feedback regarding Elon Musk's actions, according to a research note cited by Bloomberg. Bloomberg points out that Tesla's car deliveries in the first quarter of 2025 fell considerably short of even Brinkman's pessimistic...

According to the Bloomberg Billionaires Index, the fortunes of the 500 wealthiest individuals globally decreased by $208 billion on April 3, as stock markets plummeted following U.S. President Donald Trump's announcement of extensive trade tariffs. The losses rank among the top four in the 13-year history of the index’s calculation and are the most substantial since the height of the COVID-19...

The Competitions and Markets Authority (CMA) of the UK has declined to grant unconditional approval for a transaction wherein the US oilfield services firm SLB (previously named Schlumberger) aimed to purchase chemical and drilling solutions supplier ChampionX Corp. The regulator stated that the merger might result in a notable decrease in competition within the UK market. The CMA launched an...

American Amazon.com Inc., the leading online retailer globally, has made an offer to acquire the complete social network TikTok from Chinese company ByteDance, writes The New York Times, referencing sources. The proposal does not specify the of the social network's estimated value. Simultaneously, several stakeholders engaged in talks about altering TikTok's ownership structure reportedly view...

In 2024, Chinese Huawei Technologies' net profit dropped by 28% to 62.6 billion yuan ($8.63 billion) compared to the previous year, according to a report from the company, as reported by Reuters. A company representative clarified this due to substantial investments in research and development (179.7 billion yuan or approximately 20% of revenue) combined with low earnings from device sales. The...

Japan's SoftBank Group intends to establish industrial parks for artificial intelligence (AI) in the United States and is contemplating investments exceeding $1 trillion, according to Nikkei. SoftBank's founder and CEO Masayoshi Son is expected to travel to the U.S. to talk about his concepts for these parks. They are expected to employ autonomous AI robots because of the lack of human...

Sinopec, China's biggest oil refining firm, stated that it has found over 140 million tons of confirmed shale oil reserves in Shandong Province, according to Xinhua. This is the initial area certified by China's Ministry of Natural Resources, showing confirmed shale oil reserves that surpass 100 million tons. The area is situated in the Jiyang area of the Shengli oil field. The shale oil...

Chinese car manufacturer Chery Automobile Co. intends to establish an electric vehicle manufacturing plant in Turkey with an investment of $1 billion. Chery's facility in Turkish Samsun is expected to manufacture 200 thousand vehicles each year, according to a statement from the Turkish Ministry of Industry. Moreover, Chery intends to manufacture automotive parts at the facility. The initiative...