Elon Musk’s takeover of Twitter has drawn criticism from a senior Ukrainian official, whose relations with Kyiv have been strained ever since the billionaire suggested in early October that Ukraine should cede occupied land for peace. Musk, a self-described “free speech absolutist,” has stated a desire to shake up Twitter’s content moderation, and after completing…
Higher loan-loss provisions and rising costs in some emerging markets overshadowed higher-than-expected third-quarter earnings at Spain’s BBVA, sending its shares lower. Higher lending income and profits in its main market, Mexico, helped the country’s second-largest lender by market value post a 31% increase in quarterly net profit to 1.84 billion euros ($1.83 billion), exceeding analysts’…
Elon Musk completed the $44 billion deal announced in April to take Twitter Inc private, assuming ownership of the influential social media platform by immediately firing top executives. “The bird is freed,” he tweeted in an apparent nod to his desire to see the company has fewer limits on content that can be posted. But…
Apple Inc reported revenue and profit that exceeded Wall Street expectations, one of the few bright spots in a tech sector battered by inflationary spending cuts. The outlook for the holiday season was more bleak. While not providing specific figures, Apple stated that revenue growth would be less than 8% in the December quarter, but…
Chevron Corp reported its second-highest quarterly profit in history, exceeding analysts’ expectations, thanks to rising global demand for its oil and gas and increased output from its U.S. oilfields. The increase comes as oil companies report record profits as prices near record highs and supplies are tight due to output cuts during the COVID-19 pandemic,…
Elon Musk has posted a video of himself carrying a sink into Twitter’s headquarters, raising questions about the fate of his planned takeover. The billionaire has until Friday to complete the $44 billion purchase, which he announced months ago but then attempted to abandon. He agreed to proceed earlier this month, just weeks before a…
Ford Motor Company reported a net loss for the third quarter, owing to its decision to shift spending away from the Argo AI self-driving business. Ford’s decision, which contrasts sharply with rival General Motors Co’s decision to double down on investments in its Cruise robotaxi unit, highlights the pressure on automakers to make difficult decisions…
Samsung has appointed convicted heir and de facto CEO Lee Jae-yong to the position of executive chairman. The symbolic move means that the world’s largest smartphone manufacturer will now be led by the third generation of its founding family. Lee was granted a special presidential pardon in August after being convicted of bribery and embezzlement…
A recession in the United States is likely with the Federal Reserve maintaining its aggressive monetary policy tightening trajectory, according to Goldman Sachs CEO David Solomon and JPMorgan CEO Jamie Dimon. Solomon said on a panel at the Future Initiative Investment conference in Riyadh, Saudi Arabia, that he expects economic conditions to “tighten meaningfully from…
Following the invasion of Ukraine in February, Mercedes has become the latest Western company to withdraw from Russia. In early March, the German-based company ceased manufacturing in and exporting to the country. However, it has announced that it will exit the Russian market and sell shares in its subsidiaries to a local investor. In the…
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