Warner Bros. Discovery hits streaming-first push reset as DC chases Marvel
Warner Bros. Discovery Inc (WBD.O) on Thursday laid out a new strategy that will merge the HBO Max streaming service with Discovery+ while vowing to take aim at Marvel’...
Beyond Meat cuts sales forecast as consumers shun pricier faux meat
Beyond Meat Inc (BYND.O) on Thursday lowered its revenue forecast for the year and announced job cuts as rising inflation hurt the company’s efforts to make its pricier ...
Saudi Arabia posts almost $21 billion second-quarter surplus
Saudi Arabia has registered a budget surplus of nearly 78 billion riyals ($21 billion) in the second quarter of 2022, the finance ministry said on Thursday, an almost 50 per cent rise from a ...
UK house prices fall for first time in 13 months, Halifax says
House prices in Britain fell the first time in more than a year in July in monthly terms and the market is likely to weaken further as interest rates go ...
Mastercard, Visa suspend ties with ad arm of Pornhub owner MindGeek
Visa (V.N) and Mastercard (MA.N) on Thursday said they had suspended ties with the advertisement arm of MindGeek, owner of website Pornhub, after a lawsuit raised questions over ...
Uniglo (GLO), Celo (CELO) and Enjin Coin (ENJ) are the tokens of the month to look out for in August
Late July saw top companies release earnings reports, and the results were not as bad as expected. An official announcement of recession acted as a green flag for institutional investors ...
Europe to spend big on IT security due to ‘geopolitical dynamics’
While most sectors continue to feel the dire effects of rising inflation, partly the result of the tumultuous geopolitical landscape, European IT security spending is expected to continue to steadily ...
Italy, Intel close to $5 bln deal for chip factory
Italy is close to clinching a deal initially worth $5 billion with Intel (INTC.O) to build an advanced semiconductor packaging and assembly plant in the country, two sources briefed on ...
Crypto winter may temper fintech earnings
Wall Street has lowered earnings expectations for once high-flying fintechs Coinbase (COIN.O) and Block (SQ.N), as a chill in the cryptocurrency market adds more pain to the companies ...
Cyprus Business Now
Cypriot company Point Nine on Thursday announced that it will be holding its third annual conference on September 16, 2022, with the event taking place at the Four Seasons Hotel in Limassol.
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Hotels already bracing for a difficult 2023 as cost of living casts dark shadow
Hoteliers hope to meet their revised targets for 2022 but are bracing for a difficult 2023 as the cost-of-living crisis eats into the purchasing power of potential visitors and a labour shortage ...
Honduras launches ‘Bitcoin Valley’ in the tourist town of Santa Lucia
People can pay for a slushie with crypto in the streets of “Bitcoin Valley,” a project in the Honduran tourist enclave of Santa Lucia through which the country has entered ...
Coinbase ex-manager pleads not guilty to insider trading charges
A former Coinbase Global Inc (COIN.O) product manager and his brother pleaded not guilty on Wednesday to wire fraud charges in what US prosecutors called the first insider trading ...
German cabinet agrees to gas levy for consumers from October
Germany’s cabinet has agreed to introduce a planned levy on gas consumers from October to help suppliers hit by soaring gas import prices caused by Russia’s invasion of ...
Finance ministry may tax RES producers who earned ‘windfall profits’
The finance ministry said on Thursday it may tax RES producers found to have earned windfall profits as a result of the high tariffs paid to them.
In a statement, ...
Senate bill would hand bitcoin, ether oversight to commodities regulator
A new bill introduced in the US Senate would make the Commodity Futures Trading Commission (CFTC) the direct regulator of the biggest cryptocurrencies.
The measure, introduced by the top Democrat ...
Global risk, compliance firm partners with bar association for AML training
K2 Integrity — a risk, compliance, investigations and monitoring firm, on Thursday announced its partnership with the Cyprus Bar Association (CBA) giving CBA members access to K2 Integrity’s Certified Risk ...
BoE raises rates by most since 1995 even as long recession looms
The Bank of England raised interest rates by the most in 27 years on Thursday, despite warning that a long recession is on its way, as it rushed to smother a ...
Inflation in July rose 10.9% year-on-year, up 8.23% in first eight months
Inflation increased by 10.9 per cent year on year in July driven by hikes in electricity, which rose 61.7 per cent and fuel 44.1 per cent during the period, the statistical services announced ...
EV maker Lucid halves 2022 production forecast as supply chain snarls hit
Lucid Group (LCID.O) on Wednesday halved its production forecast for electric vehicles, blaming extraordinary supply chain and logistics challenges, sending its shares down 10 per cent after the bell.
The ...
Oil prices rebound on supply concerns after drop to near 6-month low
Oil prices rose on Thursday as supply concerns triggered a rebound from multi-month lows plumbed in the previous session after US data signalled weak fuel demand.
Brent crude futures rose 10 ...
Adidas posts 28 per cent decline in Q2 operating profit despite sales increase
Adidas (ADSGn.DE) on Thursday said operating profit fell by 28 per cent in the second quarter to 392 million euros ($398.43 million), as results suffered from suspending business in Russia, higher supply ...
Turkey’s banking sector H1 net profit surges 400 per cent year-on-year
The net profit of Turkey’s banking sector leapt 400 per cent from a year earlier to 169.15 billion lira ($9.42 billion) in the first half of the year, the BDDK banking watchdog ...
Lufthansa limits flight offerings in Q3 amid travel chaos
Germany’s Lufthansa (LHAG.DE) said on Thursday it would offer only around 80 per cent of pre-crisis passenger capacity in the third quarter, less than previously planned, amid staffing shortages ...