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…
As part of its strategy to reduce debt and concentrate its investments on artificial intelligence, SoftBank has disclosed plans to sell bonds denominated in dollars and euros. The massive Japanese holding firm said that it will issue bonds worth around $900 million in US dollars, payable in two installments, as well as bonds worth 900…
The CEO of Honour, a Chinese smartphone maker, stated in an interview that user data protection is crucial before any artificial intelligence can truly revolutionise the world. His remarks coincide with Apple’s announcement earlier this month that it will begin deploying customised AI features on certain devices in the United States coming autumn. Some AI…
According to CEO Jim Farley, Ford Motor plans to launch a successful all-electric car for $30,000 in around 2.5 years, which he said on Friday at the Aspen Ideas Festival. Farley noted that the vehicle’s primary competitors are projected to be Chinese manufacturers like BYD and an upcoming entry-level car from U.S. EV leader Tesla.…
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