Terms disagreements have resulted in the stalling of a deal with Iraq and France’s TotalEnergies, worth $27 billion. Iraq had hoped that the deal would reverse the trend of exit of the country by major oil companies of the world, said a report published by Reuters. The report also suggested that the deal would be…
Credit Suisse investors are concerned that the company will take a long time to get back on track to profitability. A series of scandals in recent months have not only tarnished the global bank’s reputation but have also resulted in billions of dollars in market value being lost — putting enormous pressure on the management.…
The stock price of Zomato Ltd., the leading food delivery app of India, fell up to 8.4 per cent on Friday after the Indian meal delivery company reported lackluster sequential gross order value growth (GOV) in the third quarter as more people dined out after pandemic restrictions were lifted. After the market closed on Thursday,…
YouTube, the world’s largest video platform, is debating whether to incorporate non-fungible tokens (NFTs) and blockchain interfaces into the site. In a blog post, the video platform’s Chief Product Officer, Neal Mohan, outlined the company’s planned ambitions for new products and services in the coming year, which included a serious mention of NFTs. The CEO…
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,…
Toyota Motor Corp. lowered its yearly production target by half a million vehicles on Wednesday due to a semiconductor shortage and Covid-19 sick leave. The world’s largest manufacturer said it will construct 8.5 million vehicles in the year to March 31, down from a previous estimate of 9 million, as it reported a 21 per…
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…
