In just 11 months since joining Intel Corp in February last year, Chief Executive Officer Pat Gelsinger earned 1,711 times the average worker at the U.S. chipmaker, according to a regulatory filing released on Wednesday. Former CEO Bob Swan earned 217 times more than the typical Intel employee in 2020 than Gelsinger. In 2021, Gelsinger…
OPEC+ will keep politics out of its decision-making, according to Saudi Arabia’s oil minister, in favour of the “common good” of stabilizing energy prices. Following Russia’s invasion of Ukraine, governments and international organisations around the world imposed punitive sanctions and severed economic ties with the country, but OPEC — the intergovernmental organisation of 13 oil…
Sony plans to introduce a new video game subscription service this summer in order to boost sales of its PlayStation consoles and compete with Microsoft’s comparable offering. The business said on Tuesday that it will combine its existing PlayStation Plus and PlayStation Now subscription services into a single PlayStation Plus subscription service. The new PlayStation…
Barclays stock dropped as much as 6% in early Tuesday trade after one of the lender’s biggest investors sold a $1.2 billion piece of stock at a discount overnight. On Monday evening, Goldman Sachs arranged the sale of 599 million shares by an undisclosed investor. According to Refinitiv Eikon data, the shares are roughly comparable…
Emirates, based in Dubai, plans to cut losses in the current fiscal year and turn a profit next year, according to the airline’s president. “We are in for a good set of results, we haven’t reversed it completely but we have swung it,” Tim Clark told reporters, adding the carrier had been cash-positive since October.…
Carlsberg and Heineken, two of the world’s largest breweries, announced on Monday that they will leave Russia, joining an exodus of Western corporations as pressure mounts on Moscow following its invasion of Ukraine. Following the commencement last month of what Moscow described as a “special military operation” against Ukraine, Ukraine’s President Volodymyr Zelenskiy has advised…
American electric car maker Tesla Inc said on Monday that it will seek approval from its shareholders to expand its share count in order to permit it to conduct a stock split in the form of a dividend. This pushed its stocks by 5 per cent. The board of directors has authorised the proposal, and…
Renault CEO Luca de Meo cautioned on Thursday that the automaker’s withdrawal from Russia presents a “very problematic scenario” for the firm, threatening profitability and sales as the company strives to expedite a multi-year recovery project. In an internal video for staff, de Meo stated that Renault will prioritise employee safety as it considers options…
Ferretti Group, an Italian luxury yacht manufacturer, has priced its shares at HK$22.88 each, the lower end of its projected range, in order to generate HK$1.9 billion ($242.75 million) in its Hong Kong initial public offering, according to Refinitiv’s IFR service on Friday. The company sold 83.58 million shares, or around 25% of its total…
Russia’s war in Ukraine may cause neon production, a vital gas in sophisticated semiconductor manufacturing, to plummet to alarmingly low levels at a time when the world is already facing a chip scarcity. Neon is necessary for lasers used in lithography, a chip manufacturing technique in which machines cut patterns onto tiny wafers of silicon…
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