Goldman Sachs lowers US recession odds
Goldman Sachs has lowered the odds of the United States slipping into a recession in the next 12 months to 20 per cent from 25 per cent following the latest weekly jobless claims ...
Winds of change – the new tech steering commercial shipping towards a more sustainable future
Cargo ships and cruise liners may soon be harnessing the power of wind and waves to reduce their carbon emissions thanks to EU-funded researchers.
By Tom Cassauwers
In August 2023, a ...
Brewers tap growth of zero-alcohol beers in Middle East
Egyptian Mohannad Abdelazeem, 35, doesn’t drink alcohol. But he does consume three or four cans per day of Moussy and Fayrouz – alcohol-free beers.
Brewers including Carlsberg and Anheuser-Busch InBev (ABI....
Cisco sees recovery in equipment demand, cuts 7 per cent jobs globally
Cisco Systems (CSCO.O) has announced that it is witnessing rebounding demand for its networking equipment and announced a 7 per cent cut in its global headcount to focus on high-growth ...
UK house prices rise by 2.7 per cent in 12 months to June
British house prices rose by 2.7 per cent in the 12 months to June to an average of 288,000 pounds ($370,000), according to a report from the Office for National Statistics.
June’s annual ...
Toyota bets big on hybrid-only models as EV demand slows
Toyota may be one of the slowest legacy automakers to develop electric vehicles but it could be the first to jettison cars powered only by gasoline.
Almost three decades after ...
UK inflation picks up less than expected, boosting rate cut bets
British consumer price inflation increased for the first time this year in July, official figures showed this week, but the rise was smaller than expected as services prices – closely watched ...
Google brings AI answers in Search to new countries
Google parent Alphabet (GOOGL.O) said this week it was expanding its AI-generated summaries for search queries to six new countries, just two months after it rolled back some capabilities ...
Decentralized AI network Sahara raises fresh capital in Samsung NEXT-backed round
Sahara AI, a startup integrating the blockchain and artificial intelligence, announced that it has raised $43 million in a funding round led by venture capital investors Pantera Capital, Binance Labs and ...
Lenovo revenue rises 20 per cent, beats estimates as PC market recovers
China’s Lenovo Group (0992.HK) reported a 20 per cent rise in quarterly revenue this week, as the global personal computer market showed signs of recovery after a two-year slump.
For ...
Tencent’s second-quarter revenue rises on gaming business recovery
China’s Tencent Holdings (0700.HK) reported an 8 per cent rise in second-quarter revenue earlier this week, driven by a recovery in its gaming business after a launch of a new ...
Tomb Raider owner Embracer’s quarterly profit plunges on fewer games releases
Swedish games developer Embracer (EMBRACb.ST) reported a 50 per cent drop in first quarter operating profit this week after the owner of the Tomb Raider franchise released fewer games.
The ...
Britain’s Revolut valued at $45 bln in share sale
Britain’s Revolut has been valued at $45 billion through a secondary share sale to new and existing investors, the financial technology firm said on Friday, cementing its position as one ...
UK productivity 0.1 per cent lower than a year earlier, ONS says
British workers produced 0.1 per cent less per hour worked in the three months to June, compared with their output a year earlier, the Office for National Statistics said this week.
...
UK retail sales rebound in July, boosted by men’s Euros spending
British retail sales edged up in July, boosted in part by extra spending due to the men’s Euros soccer championship, official figures showed on Friday, after an unusually cool ...
Dollar gains momentum on solid US retail data
The dollar hovered not far from a two-week high to the yen on Friday after its biggest one-day gain against major peers in four weeks as firm US economic data ...
Oil prices set for weekly gains despite Friday dip amid US economic optimism
Oil prices were set for a second straight week of gains despite edging lower on Friday, as recent US economic data boosted optimism about demand from the world’s top ...
Abu Dhabi’s financial centre says company registrations up 31 per cent
The number of companies that set up base in Abu Dhabi’s financial centre ADGM increased by 31 per cent in the first half of the year as the likes of ...
Who is Starbucks’ new top boss Brian Niccol?
Starbucks (SBUX.O) tapped Chipotle Mexican Grill’s (CMG.N) head Brian Niccol earlier this week to lead the coffee giant known for its pricey lattes amid pressure from activist ...
Paramount Global begins planned layoffs with 15 per cent job cuts in US
Paramount Global (PARA.O) has begun laying off 15 per cent of its workforce in the United States, starting Tuesday, as part of its planned job cuts, the media giant said ...
Federer-backed On retains annual sales forecast after quarterly beat, shares fall
On Holding beat analysts’ estimates for second-quarter revenue this week on strong demand for its shoes and apparel from customers looking for trendy products, but shares fell about 3 per cent ...
Ukraine approves $20 billion plan to increase renewable energy production by 2030
Ukraine will need $20 billion in investments to develop its renewable power sector under a plan which seeks to boost its share in the country’s energy mix to 27 per cent ...
AI PCs made up 14 per cent of quarterly personal computer shipments
AI PCs accounted for 14 per cent of all personal computers shipped in the second quarter with Apple (AAPL.O) leading the way, according to research firm Canalys, as added artificial ...
Global electric vehicle sales increase by 21 per cent in July
Global sales of fully electric and plug-in hybrid vehicles rose by a yearly 21 per cent in July, thanks to China’s strongest growth this year and despite dropping demand in ...