Musk disbands Tesla EV charging team, leaving customers in the dark
Elon Musk’s abrupt decision to lay off employees who ran Tesla’s electric vehicle charging business blindsided automakers gearing up to equip new EVs for customers to use the ...
Coca-Cola bets on pricey sodas, international demand to lift annual sales forecast
Coca-Cola raised its annual organic sales forecast on Tuesday after topping first-quarter results as customers in the US and international markets shell out more money for its pricey sodas and ...
UK mortgage approvals hit 18-month high in March, Bank of England says
The number of mortgages approved by British lenders rose to an 18-month high in March, according to Bank of England data on Tuesday that confirmed a recovery in the housing ...
German economy skirts recession, helped by construction and exports
The German economy skirted a recession at the start of the year, growing more than expected thanks to the construction sector and exports, preliminary data showed on Tuesday.
The economy ...
UK R&D may be worth far more than currently estimated
The value of research and development undertaken in Britain each year could be more than 20 per cent higher than estimates currently show, early findings from a revamped Office for National ...
Boeing taps debt market to raise $10 billion
Boeing (BA.N) on Monday tapped debt markets to raise $10 billion, after the US planemaker burned $3.93 billion in free cash during the first quarter following slowing production of its best-selling ...
McDonald’s set for weak sales growth as US fast-food chains grapple with muted traffic
McDonald’s (MCD.N) is set to report a sequential drop in sales growth for the fourth straight quarter as low-income consumers remain hesitant about eating out even as fast-food ...
Google plans $3 billion data centre investment
Alphabet (GOOGL.O) unit Google recently announced that it would invest $3 billion to set up a data centre campus in Indiana and expand sites in Virginia.
A boom in artificial ...
Royal Caribbean lifts profit view again on cruise boom, higher prices
Royal Caribbean Group raised its annual profit forecast for a second time and beat expectations for first-quarter profit and revenue last week, with half of its growth coming from higher ...
Deutsche Bank falls 5.5 per cent after Postbank announcement
Deutsche Bank (DBKGn.DE) shares were 5.5 per cent lower in early trade on Monday after news that Germany’s largest lender could be on the hook for up to 1.3 billion ...
Oil prices fall 1 per cent on Israel-Hamas ceasefire talks, US inflation concerns
Oil prices fell in early Asian trading on Monday, erasing gains from Friday as Israel-Hamas peace talks in Cairo eased fears of a wider conflict in the Middle East and ...
Microsoft’s AI lead puts Amazon cloud dominance on watch
Upcoming quarterly reports from US tech giants may show Microsoft (MSFT.O) is closing the gap on cloud-computing market leader Amazon.com as more businesses switch to its services, attracted ...
Heineken sells more beer in first quarter, sticks to outlook
Heineken (HEIN.AS) sold more beer than expected in the first quarter, reporting its first year-on-year growth in quarterly volumes in a year, as it kept its 2024 profit growth forecast.
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Google rival Tuta complains to EU tech regulators about de-ranking
German email service Tuta Mail has complained to European Union tech regulators about what it described as a sudden drop in Google search results on the day the bloc’s ...
Microsoft’s and Amazon’s AI partnerships draw UK watchdog scrutiny
Britain’s competition watchdog said this week that it was seeking comments on the AI partnerships between Microsoft (MSFT.O) and Mistral AI, as well as between Amazon (AMZN.O) ...
China’s Huawei launches new software brand for intelligent driving
Chinese tech company Huawei (HWT.UL) unveiled this week a new software brand for intelligent driving, marking its latest push to become a major player in the electric vehicle industry.
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Apple’s first quarter smartphone shipments in China tumble 19 per cent
Apple’s smartphone shipments in China tumbled 19 per cent in the first quarter of the year, the worst performance since 2020, as the iPhone maker took a hit from Huawei’s (...
Tesla’s plan for affordable cars takes page from Detroit rivals
Elon Musk’s new plan to use current product lines as the basis for new affordable vehicles — rather than springing for all-new models — follows the playbook of Tesla’s old-school ...
War and peace on the brink
By Ioannis Tirkides
These are unprecedented times. We are simultaneously on the cusp of a technological revolution and the promise of unparalleled economic prospects, and on the brink of total ...
UK’s Jet2 expects annual profit jump, sells 55 per cent seats for summer 2024
British travel company Jet2 (JET2.L) has forecast a 33 per cent jump in its annual profit, and said 55 per cent of seats were sold for this summer season on strong ...
Snap shares jump nearly 30 per cent after first quarter beat
Shares in Snap soared nearly 30 per cent in thin volume in Frankfurt on Friday after the owner of the photo messaging app beat Wall Street expectations for quarterly revenue and ...
US probes Tesla recall of 2 million vehicles over Autopilot
US auto safety regulators said Friday they have opened an investigation into whether Tesla’s recall of more than 2 million vehicles announced in December to install new Autopilot safeguards is ...
Eurozone consumers lower inflation expectations again, ECB survey shows
Eurozone consumers lowered their expectation for inflation over the next 12 months in March but continued to see price growth above the European Central Bank’s 2 per cent target further out, ...
Alphabet, Microsoft shares jump as investors cheer AI investment
Microsoft and Google showed investors that heavy artificial intelligence investment can pay off with rising revenue, allaying concerns raised a day earlier by Meta, which said its expensive foray into ...