Cereal maker Kellogg Co’s forecast for profit growth for the full year was higher than the expectations of the market. This upbeat forecast was driven by higher product prices which helped the company to offset disruptions because of labour strikes and increasing costs of input during the fourth quarter. Rise in freight charges as well…
Unilever is unable to raise prices for its products enough to offset the rise in its expenses and as such was forced to issue a warning of a dip in profits this year. This announcement caused investors to get worried again following a failed deal for GlaxoSmithKline’s consumer health unit last month. Commodity, energy, transportation,…
After having exited the Japanese market twelve years ago because of a slump in sales, South Korean auto giant Hyundai Motor Co. is all set to re-enter the market, the company said on Tuesday. Making the announcement, the South Korean company said that its decision was based on an increase in demand for electric vehicles…
The planned takeover of SoftBank’s Arm by Nvidia has fallen through due to “significant regulatory challenges,” according to a joint statement released by the two companies on Tuesday. The acquisition was first disclosed in 2020, and it was valued at $40 billion in Nvidia shares and cash at the time. Arm will now prepare for a…
Social media platform Facebook’s owner Meta has stated that if it is unable to continue moving user data to the United States, it may shut down Facebook and Instagram in Europe. Last Thursday, the social media behemoth issued a warning in its annual report. European regulators are already drafting new rules that will govern how EU…
Frontier Group Holdings and Spirit Airlines Inc on Monday announced intentions to join in a $2.9 billion merger that would establish the fifth-largest airline in the United States and increase competition against traditional carriers. The partnership brings together the stablemates of famed airline investor Bill Franke, a pioneer of rock-bottom prices combined with ultra-low-cost carrier top-up…
Amazon achieved the greatest ever one-day increase in worth the day after Facebook owner Meta Platforms went through its largest-ever one-day loss of stock market value for any American firm. Following its spectacular quarterly report, shares of the online retail and cloud computing behemoth soared 13.5 per cent on Friday, which boosted its market valuation…
UBS just recorded its highest annual profit since the global financial crisis, allowing it to increase share buybacks and set more ambitious profit targets as it bets on more digital products resulting in significant cost reductions. In early trading, shares of Switzerland’s largest bank rose 6.5 percent to a four-year high. UBS said in its…
Is Koo, an Indian microblogging app, capable of defeating Twitter? According to Mayank Bidawatka, co-founder of Koo, the company intends to surpass Twitter’s 25 million-strong user base in India this year. By the end of 2021, it has surpassed 20 million downloads in the country. “We are now available in 10 languages, including English. This…
Google is spending up to $1 billion in a major Indian telecom business in the goal of lowering smartphone prices in a vast and quickly growing market. In a statement released Friday, Google said it would invest $700 million in Bharti Airtel, India’s second-largest telecom operator, for a 1.28 per cent share. The companies said…
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