Its highest quarterly profits since 2015 were reported by UBS on Tuesday driven by a 23 per cent growth in its fee income from the ultra-rich of the world. The unexpectedly strong income follows four quarters of the bank reporting double-digit percentage net profit growth and comes at a time when fresh plans for its…
According to Barbie creator Mattel, higher prices in the run-up to Christmas have not dampened customers’ appetites for toys. Following increase in costs for transportation and raw material expenses, the price of its toys has been hiked by the company. An 8 per cent growth in sale revenue of the company for the third quarter…
The German luxury auto maker BMW will discontinue making internal combustion engines at its primary factory unit in Munich by 2024, said the company’s chief of manufacturing while speaking at a conference marking the beginning of production of its electric i4 vehicle. In the future, its factories in Austria and the United Kingdom will be…
After a stable third quarter, it was on schedule to achieve cost savings from the integration of data platform Refinitiv, the London Stock Exchange Group said but cautioned that the timing of its technological expenditure could be affected by supply chain bottlenecks. In the three months to the end of September, its pro forma underlying…
A definitive definition for blue hydrogen should be agreed upon at the COP26 climate summit in Glasgow so that its producers are allowed to sell it, demanded the CEO of gas infrastructure company Snam on Saturday. “At COP26 we need to define what blue hydrogen means, because if you have blue hydrogen with little CO2…
Following a call by Barclays to Walt Disney to bring in bold changes in the media giant to pose a turnaround for the slowing growth of the company’s Disney+ streaming service, the stocks of the company saw a rare downgrading at the Wall Street. Hints of a slowdown in Disney+ were mentioned last month by…
Strong measures are being taken against Australian airline Qantas as a part of a row over the duties of plane cleaners which happened in early 2020. The airlines ordered a cleaner to stop working following the employee’s opposition of the cleaning practices on aircraft that were arriving from China. Qantas was accused by the watchdog…
On Tuesday, the first bitcoin-linked exchange-traded fund will make its official debut. ProShares’ much-anticipated ETF, which will track the bitcoin futures market, will begin trading on the NYSE on Tuesday under the ticker ‘BITO,’ according to the company. “We believe a multitude of investors have been eagerly awaiting the launch of a bitcoin-linked ETF after…
With the growth of global electric vehicle (EV) industry, auto makers are now rushing to build facilities to allow them to make the powerful batteries required to power EVs. One of the latest in that race is partnership between Stellantis, a new entity that came into being last year by the merger of Fiat Chrysler…
More than 10,000 people are likely to be hired by social media giant Facebook in the European Union for the purpose of developing a so-called metaverse. A metaverse is described as an online world where users are able to play games, work and communicate with each other in a virtual environment, often using VR headsets.…
