Adidas, a German sportswear giant, is expected to report excellent second-quarter sales and its highest profit margin in three years thanks to the popularity of its low-rise, multicoloured Samba and Gazelle trainers and worse sales at rival Nike. Investor concerns about the sportswear giant lagging behind both more established competitors and up-and-coming ones were heightened…
As Prime Minister Narendra Modi’s administration prepares to publish a federal finance budget in July, India’s pharmaceutical businesses are looking for tax breaks and funding for research on novel pharmaceuticals. In his third tenure as prime minister, Modi will make his first significant policy statement with the next budget. If India hopes to maintain its…
Employees at Samsung Electronics launched a three-day walkout on Monday in protest of their low pay, and if the largest company in South Korea doesn’t meet their demands, the union plans to take additional action. In addition, the National Samsung Electronics Union (NSEU), which represents about a quarter of the company’s South Korean workforce with…
According to projections, Samsung Electronics’ second-quarter earnings from a year ago increased by a factor of thirteen due to the rise in memory chip prices driven by the demand for artificial intelligence technologies. The average LSEG SmartEstimate from 27 analysts—weighted towards those who are more consistently accurate—indicates that operating profit for the largest manufacturer of…
In a further move to defend domestic producers, the European Union will apply duties of up to 37.6% on imported electric vehicles manufactured in China starting on July 5. This would increase trade tensions with Beijing. Investigations have also been initiated into whether Chinese clean tech manufacturers are dumping subsidised goods on EU markets and…
The local unit of Swiss bank UBS and Credit Suisse’s activities in the country have been merged, the bank said on Monday. The firm also announced the departure of the head of the Credit Suisse division. Following the merger of Credit Suisse (Schweiz) AG and UBS Switzerland AG, Andre Helfenstein, CEO of Credit Suisse Switzerland,…
The Financial Times reported on Wednesday that the European Union is drafting plans to levy customs tariffs on inexpensive items purchased from Chinese online merchants including Temu, Shein, and AliExpress. The story cited three people who were briefed on the topic. The article stated that later this month, the European Commission would propose eliminating the…
According to one of its Chinese joint ventures, Toyota plans to provide the first electric car model with an advanced autonomous driving system comparable to Tesla’s Full Self-Driving for the Chinese market next year. Through the joint venture with the state-owned Guangzhou Automobile Group (GAC), the Japanese carmaker hopes to regain its market position in…
John Donahoe, the CEO of Nike, seems to be in trouble. Wall Street’s trust is beginning to wane for the former eBay top executive, who has led Nike since January 2020, following the company’s disappointing fiscal year-ending news. Nike issued a warning earlier this week, citing the possibility of a startling 10% decrease in sales…
The political meme has found fresh life thanks to TikTok, which is sardonic, absurd, and occasionally plain unpleasant. However, to what extent is it genuinely impacting the general election? With almost eight million views on a five-second video of him mouthing the lyrics to an Eminem song, “guess who’s back?”, Nigel Farage is the unexpected…
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