On Thursday, Kroger Co raised its yearly same-store sales and profit forecasts, citing strong demand for its pick-up and delivery services as well as continued home-cooking trends as reasons. In premarket trade, shares of the Ohio-based supermarket climbed almost 6% after the company’s quarterly earnings above expectations. Despite the reopening of restaurants and bars, Americans…
The United States based electric car startup Rivian Automotive Inc announced that it had raised the selling pricing of its vehicles by around 20 per cent owing to inflationary pressures and higher component costs, angering some consumers. Rivian’s “negative gross margin will be staggering” and it is “near impossible” for other companies to make affordable…
Japan’s Toyota Motor Corp said that it will cease Japan plant operations, resulting in a loss of around 13,000 vehicles of output, after a supplier of plastic parts and electrical components was targeted by a suspected cyber assault. There was no early word on who was behind the suspected attack or the purpose. The bombing came…
The stocks of the British energy giant British petroleum plummeted by almost 7 per cent following the announcement of the company that it had sold selling off of its almost 20 per cent stake in the Russian oil giant Rosneft over the weekend as a reaction to the invasion of Ukraine by Russia. About half…
GSK confirmed its plans to offer its consumer healthcare company on the public market in July on Monday, despite market worries and after rejecting overtures from Unilever. GSK said in a statement that the new company, Haleon, which is the world’s largest consumer health business, will pay an initial dividend at the lower end of…
According to a leaked Ericsson report acquired by BBC News Arabic, the telecoms operator Ericsson placed contractors’ lives in danger by insisting they continue working in area controlled by the Islamic State [IS] organisation in Iraq. According to the report, this culminated in their kidnapping by IS fighters. Ericsson is one of the world’s largest…
Germany will follow through on plans to develop two LNG terminals and increase natural gas reserves to reduce its reliance on Russian gas following Russia’s invasion of Ukraine, according to Chancellor Olaf Scholz. “We will do more to ensure secure energy supply for our country,” he told lawmakers in a special Bundestag session called to…
Following Russia’s invasion of Ukraine, Roman Abramovich has given Chelsea’s charity foundation “stewardship and care.” However, Abramovich will remain Chelsea’s owner, and the Russian billionaire, who has invested over £1 billion in the Stamford Bridge club since 2003, will not require the club to return the loans he owes him, ensuring the club’s long-term viability.…
The Russian government has imposed restrictions on the use of twitter in some parts of the country, the micro-blogging company has confirmed. “We’re aware that Twitter is being restricted for some people in Russia and are working to keep our services safe and accessible”, the company said in a statement. Following a spat over “censorship,”…
According to cryptocurrency specialists, anonymous Bitcoin donations have raised at least $13.7 million for the Ukrainian war effort. According to Elliptic, a blockchain research firm, the Ukrainian government, NGOs, and volunteer organisations raised the funds by posting their Bitcoin wallet addresses on the internet. So far, over 4,000 gifts have been made, with one anonymous…
