According to the Handelsblatt newspaper, which cited government sources, US-based Intel has asked the German government for an additional €3 billion in subsidies on top of the €6.8 billion it has already approved for the country's chip factory project, despite the crisis and inflation-targeting policies. A new semiconductor factory for Intel would be constructed in Magdeburg. However, the firm...

For 2022, the UK oil and gas firm BP recorded record earnings. Underlying replacement cost profit for the business, which is a metric similar to net income, was $27.7 billion, an increase of 116% from 2021. For BP and other oil and gas firms, last year was an overachievement as rising global oil prices increased revenues greatly. The increase in revenue was sufficient to offset a $25.5 billion...

According to a joint press release from Renault and Nissan, the French automaker will reduce its ownership of Nissan from 43.4 percent to 15 percent, and Nissan plans to purchase a 15 percent stake in the electric vehicle manufacturer Ampere. "The French trust will receive a 28.4% share in Nissan from the Renault Group. Nissan and Renault Group will maintain a 15 percent cross-shareholding," the...

The biggest cryptocurrency exchange, Binance, announced that it would temporarily halt buying and selling of cryptocurrencies for dollars from February 8. Binance announced on its official Twitter account that it was temporarily suspending all bank transfers in USD since February 8. It is stated that just a small portion of customers will be impacted by the action, and that the exchange is...

Ryanair set a record for the month of January by carrying 11.8 million passengers. After the COVID-19 epidemic, the carrier has continued to aggressively increase capacity. The largest airline in Europe by passenger volume recorded a 300,000 increase in passenger traffic from December to January. For the first time in at least 10 years, there were more passengers throughout the time period. The...

German BMW announced that it had increased the suggested retail pricing for certain of its models marketed in China as a result of growing transportation and raw material costs. The price hikes take effect right away. BMW increased the Manufacturer's Suggested Retail Price (MSRP) for 17 models in China, including the 5-series sedans and X5 crossovers, according to Shanghai Securities News....

Amgen Inc. disclosed a small dip in fourth-quarter sales. Eli Lilly and Co. saw a drop in revenue from a COVID-19 antibody agreement that was offset by a 4% rise in sales of its own medications. The business's quarterly earnings decreased from $6.85 billion to $6.84 billion. Refinitiv reports that the amount exceeded analyst projections of $6.77 billion. In 2020, Amgen and Eli Lilly agreed to...

The Financial Times reports that the American administration has ceased granting licenses to American businesses to sell goods to the Chinese company Huawei and is considering formalizing the prohibition. During Donald Trump's presidency, shipments to Huawei, one of the forerunners in the implementation of 5G mobile communications networks, were restricted and made feasible only with government...

The net profit of French Louis Vuitton Moet Hennessy (LVMH) grew to €14.084 billion by the end of 2022, up 17%. According to a press release from the corporation, a record was set in many of its divisions last year. The company's net financial debt reduced by 4% to €9.201 billion, and revenue increased 23% to €79.184 billion, according to the statement. The majority of the income was generated...