As gas prices increased and the fourth quarter’s results exceeded expectations, Equinor on Wednesday announced a record $74.9 billion adjusted operating profit for 2022, more than doubling its previous high. This news helped to increase the company’s stock price by 7%. The adjusted earnings before tax and interest for the Norwegian oil and gas producer…
What happened to the world’s longest happ Officials said on Monday that Britain is pushing ahead with work on a potential digital pound that could be in use by the second half of this decade and help prevent the fragmentation of an electronic cash system dominated by tech or banking behemoths. As part of a…
For generations, society has debated whether or not money brings happiness. Now, a new book has some answers backed up by data. According to Robert Waldinger and Marc Schulz, authors of “The Good Life,” the simple answer is: No, money cannot buy happiness. According to the findings of the Harvard Study of Adult Development, the…
Amazon.com Inc, the online retailer that has long been feared of disrupting the grocery industry, believes it has fallen short. Chief Executive Andy Jassy said on Thursday, in a rare appearance on the company’s quarterly results call, that the company has paused expansion of its Fresh supermarkets and cashier-less convenience stores until it finds the…
Meta Platforms Inc stocks closed about 23% higher on Thursday, sparking a rally in the technology sector after Facebook owner Mark Zuckerberg stunned Wall Street by lowering its spending forecast and increasing its stock buyback plan by $40 billion. The company’s market value increased by more than $90 billion, and the stock had its best…
Tesla Inc suppliers are gearing up for more price cuts from Chief Executive Elon Musk and his team after the electric car maker cut down on prices of its vehicles aggressively in a slowing economy, according to industry officials who work with the automaker and its suppliers. Last month’s comments by Tesla Chief Financial Officer Zach Kirkhorn…
The stricter cost controls implemented by Meta Platforms Inc this year, as well as a new $40 billion share buyback, sent shares soaring on Wednesday, as CEO Mark Zuckerberg declared 2023 the “Year of Efficiency.” The parent company of Instagram and Facebook, which has struggled amid a broad post-pandemic slump in digital ads, is focusing…
Samsung Electronics Co Ltd. of South Korea said on Tuesday that it has no plans to reduce its investment in semiconductors this year, despite the fact that the industry is experiencing its worst slowdown in more than a decade due to a weak global economy. The guidance defies a general industry tendency to cut back…
According to his former boss at food group Heinz, incoming Unilever CEO Hein Schumacher gets seasick, but that hasn’t stopped him from joining and sticking with executive sailing trips. “Every year, I’d bring nine of our most promising executives to Florida – just me and them, not their bosses. One year, we were on a…
Following the meltdown of crypto exchange FTX last year, that resulted in billions of dollars in losses for millions of investors, Britain’s finance ministry is planning “robust” regulations for crypto assets. Globally, cryptocurrency is currently unregulated, with firms only required to conduct checks to prevent money laundering. However, the Financial Conduct Authority (FCA) of the United Kingdom…
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