AMD Has Surpassed Intel In Terms Of Market Capitalization

In terms of market valuation, AMD has surpassed competitor chipmaker Intel. The change is primarily symbolic, but it represents a far more competitive market for PC and server processors, in which the two businesses compete directly. AMD shares gained more than 3% on the day, bringing the chipmaker’s market capitalisation to $153 billion. Intel plunged…

Mastercard Warns Of Inflationary Pressures Following A Strong Quarter For Card Issuers

After a successful quarter for card issuers, Mastercard Inc cautioned that runaway inflation was sapping lower-income clients’ spending. Consumers throughout the world have begun to break in the face of decades-high pricing pressures, with purchases at shops such as Walmart migrating away from big-ticket items and toward necessities like food. “In the U.S., what you…

Sony Reduces Its Earnings Prediction As Gaming Performance Deteriorates

Sony Group Corp of Japan cut its full-year profit prediction on Friday due to a weaker-than-expected performance at its major gaming sector, which reported a significant decline in first-quarter operating profit as customer interest in gaming dropped. Sony’s game business had a 37 per cent drop in profit from the previous year’s April to June…

Amazon Predicts Strong Consumer Demand, As Its Stock Rises 13%

Amazon.com Inc said it expects third-quarter revenue to increase as the business collects higher fees from Prime loyalty subscriptions and consumer demand remains strong despite rising inflation. Shares of the world’s largest online retailer gained 13% in after-hours trading, boosting its market capitalization by more than $150 billion. Amazon, like much of the retail business,…

China Has Indicated That It May Fall Short Of Its Economic Growth Target

As Covid restrictions weigh on the world’s second largest economy, China has indicated that it may miss its annual economic growth objective. The Politburo, the ruling Communist Party’s top policy-making body, stated on Thursday that it seeks to keep growth within “a sustainable range.” It made no mention of the previously defined official growth target…

Coca-Cola Ups Its Revenue Projection As Soda Demand Compensates Price Increases

Coca-Cola Co raised its full-year revenue projection, boosted by buoyant demand for sugary sodas in the face of price rises to offset higher expenses. According to the company, global sales volumes increased by 8% in the second quarter, driven by growth in both developed and emerging regions, while average selling prices jumped by roughly 12…

Crisis-Hit Chinese Property Behemoth Evergrande Faces A Deadline When Its Executives Resign

Following the departure of two executives, embattled Chinese real estate company Evergrande is set to submit a preliminary reorganisation plan this week. The company’s CEO and CFO have resigned, according to the company, after an internal investigation revealed that they misappropriated approximately $2 billion in loans. Evergrande has more than $300 billion in liabilities and…

Eutelsat, Based In France, Is In Negotiations With UK Satellite Provider OneWeb About A Prospective Merger

Eutelsat, a French satellite business, said it was in negotiations with British rival OneWeb about a prospective merger, which would help both companies compete with Elon Musk’s SpaceX’s Starlink and Amazon.com’s Project Kuiper. “Following recent market rumors, Eutelsat Communications confirms that it has engaged in discussions with its co-shareholders in OneWeb regarding a potential all-share…

Northvolt, Supported By Volkswagen, Is Developing Wood-Based Batteries For Electric Vehicles

Northvolt will collaborate with Stora Enso to develop batteries that include components made from wood taken from Nordic woods. A joint development agreement between the companies will see them collaborate on the manufacturing of a battery with an anode built of lignin-based hard carbon. Along with the cathode and electrolyte, an anode is an important…

Facebook Returns To Its Roots With A Redesigned Feed That Prioritises Friends And Family

On Thursday, Facebook will debut a new feature that will allow users to see posts in reverse chronological order rather than content ranked by an algorithm. The “Feeds” tool is a dedicated tab in the Facebook programme that displays all of the most recent postings from users’ friends. The primary news stream will now be…