Siemens Reports Its First Quarterly Loss In 12 Years As A Result Of Writedowns In The Third Quarter

Siemens said on Thursday that robust industrial demand remained in the third quarter, despite expenditures tied to its Siemens Energy investment and decision to exit Russia pushing the engineering firm into the red for the first time in nearly 12 years. The manufacturer of industrial software and trains reported increasing revenue and orders for the…

Mark Zuckerberg Introduces New Privacy Measures On WhatsApp

Meta has revealed new WhatsApp privacy features. Users will be able to secretly exit group chats, select who can view their online status, and block screenshots on View Once messages. According to Meta CEO Mark Zuckerberg, this will help maintain WhatsApp chat “as private and safe as face-to-face discussions.” It will start rolling out the…

IHG, The Parent Company Of Holiday Inn, Sweetens Shareholder Returns On The Travel Comeback

Taavel giant  IHG announced a $500 million share repurchase after its half-year profit more than quadrupled, supported by rising room pricing, strong leisure travel demand, and a resurgence in corporate stays, particularly in the United States. Hotel operators benefit when people travel more and stay longer in hotels, raising occupancy rates and pricing, yet they face…

Despite Economic Concerns, Suzuki Motor Claims Demand Is High

Suzuki Motor of Japan said on Friday that it does not expect vehicle demand to decline in Japan or its main market of India, despite mounting concerns about a worldwide economic slump. Suzuki’s senior managing executive officer, Masahiko Nagao, shares the bullish attitude of other Japanese manufacturers, despite rising inflation and interest rates fueling concerns…

Nintendo Switch Sales Are Down Due To A Chip Shortage

Following chip shortages, Nintendo Co Ltd sold 23 per cent fewer Switch consoles in the April-June quarter than the previous year, the company said on Wednesday. The Kyoto-based gaming company predicted that procurement would rise “from late summer to autumn” and maintained its target of selling 21 million devices in the fiscal year ending March 31,…

BMW Anticipates A Tumultuous 2022, With An Emphasis On Chips And Energy Squeeze

BMW cut its output prediction and warned of a highly variable second half on Wednesday, citing energy supplies in Europe and chip supply globally as two critical elements in the manufacturer meeting full-year earnings forecasts. New inbound orders were beginning to diminish, but order books will stay full for the next three months, according to…

Meta, The Owner Of Facebook, Has Experienced His First Ever Sales Decline

The owner of Facebook and Instagram saw a drop in advertising sales in the three months to July, resulting in the company’s first year-on-year revenue reduction. Meta’s total revenue fell 1% to $28.8 billion (£23.7 billion), although the company avoided a drop in users. Analysts believe the company’s growth has peaked following years of significant…

Despite A Gas Crisis And An Increase In Prices, The Eurozone Economy Grew By 0.7% In Q2

An increasing number of experts believe the eurozone will enter a recession next year. The eurozone’s economy expanded faster in the second quarter of this year, but the region’s prospects are harmed as Russia continues to restrict gas supply. According to Eurostat, Europe’s statistics office, the 19-member bloc’s GDP rate was 0.7 per cent in…