According to informed sources cited by Bloomberg, Italian truck manufacturer Iveco Group aims to sell its defense division for as much as 1.5 billion euros.v The firm is negotiating with possible purchasers, including Leonardo, which could place a bid together with Germany's Rheinmetall, its collaborator in a joint venture for tank production in Europe. The sources indicated that the JV might...

The pool of bonus payments for employees at Germany's Deutsche Bank for 2024 rose by 25% to reach a decade-high of €2.5 billion, as stated in the bank's annual report. The overall sum of compensation rose by 8% to reach €11.1 billion. The count of employees stayed nearly the same. The total of employees earning over €1 million rose by 28 percent last year, reaching 647. The increase was also...

Sweden's Spotify Technology, which runs the namesake music streaming platform, has disbursed $10 billion in royalties to artists and record labels in 2024. As stated in the company’s report, the payment amounts have risen tenfold since 2014, when royalties were $1 billion. Since its launch in 2008, Spotify has compensated copyright holders with $60 billion. According to MarketWatch, this is the...

The Saudi firm Scopely Inc. has come to a deal with the American company Niantic Inc. to acquire its video game development division, which is known for launching the well-liked mobile game Pokemon Go. As per a press statement issued by the companies, the agreement's total will reach $3.5 billion. Scopely, which is owned by a branch of Saudi Arabia's Public Investment Fund (PIF), will acquire the...

Ford Motor Co. will assist its German division in reducing most of its debt and financing a plan to restore its operations. The U.S. car manufacturer plans to dedicate €4.4 billion to assist Ford Werke in lowering its debt, which is around €5 billion, to a more manageable figure, according to Managing Director Marcus Wassenberg in an interview with Bloomberg. Ford plans to allocate...

Billionaire Richard Branson's Virgin Group ($2.6bn of wealth per Forbes Real Time) has chosen to raise £700m to fund its initiative to introduce new rail services across the Channel. The firm disclosed this information to the Financial Times. The company aims to create a high-frequency link and position the project as the first direct rival to Eurostar after 30-year dominance. Virgin Group...

A division of German car manufacturer Volkswagen has initiated a strategy to implement emergency actions to safeguard its operations in the United States in light of new tariffs enforced by the country, Welt reported, referencing Volkswagen Group of America. “In light of the new responsibilities, we are implementing an extensive emergency strategy to safeguard our sales locations, supply chains,...

The investment fund CK Hutchison, based in Hong Kong, has revealed the sale of a 90% share in the Panama Canal port infrastructure (Panama Ports Company, PPC) to a group of investors headed by the US fund BlackRock, alongside 80% in Hutchison Port Holdings (HPH), which manages 43 seaports across 23 nations. The agreement totaled $22.8 billion. The port assets of CK Hutchison will be overseen by a...

The Information Commissioner's Office (ICO) has revealed the initiation of an inquiry into TikTok's use of minors' personal data to suggest content to them. Inquiries will additionally be conducted regarding the Reddit and Imgur platforms. As stated in the agency's press release, the three inquiries will examine “how TikTok, Reddit, and Imgur safeguard the privacy of their underage users in the...