Companies & CEOs
TikTok remains the most expensive brand in China - 05/16/2025
According to the annual Brand Finance China 500 report, TikTok was still the most valuable brand in China in 2025. The brand value of the social media platform TikTok/Douyin grew by 26% (reaching $105.8 billion) in the past year. The power grid firm State Grid Corporation of China (+20%, reaching $85.6 billion) climbed to second position from third, relegating the Industrial and Commercial Bank...
US imposes sanctions on firms in China and Singapore for facilitating oil shipments from Iran - 05/14/2025
On Tuesday, the US Treasury Department declared sanctions on 20 entities in China and Singapore for their role in facilitating the export of Iranian oil to international markets, as stated in a press release from the department. "The General Staff of Iran's Armed Forces and its primary commercial entity Sepehr Energy Jahan Nama Taban (Sepehr Energy) persist in establishing shell companies and...
GM appoints former top Tesla executive as Chief Product Officer - 05/14/2025
US car manufacturer General Motors has designated Sterling Anderson as chief product officer, as stated in a press release. Anderson is a co-founder of Aurora Innovation, a company working on advancements in the area of autonomous freight transport. He had prior experience at Tesla, where he was in charge of the Model X program and a group dedicated to autonomous driving technology. In his new...
WSJ reports on Apple's plans to raise iPhone prices regardless of duties - 05/13/2025
Apple Inc. intends to increase prices for the iPhone series it will introduce this fall, as reported by The Wall Street Journal. As per the information from the newspaper, the firm will justify the price hike by introducing new functionalities and modifications in the design of the gadgets. Apple aims to prevent a scenario where the price hike is viewed as a result of U.S. tariffs on products...
Nord Stream 2 AG enters into settlement agreement with creditors - 05/12/2025
The court in the Swiss canton of Zug ratified the settlement agreement made on April 30, 2025, between Nord Stream 2 AG (the builder of the Nord Stream 2 gas pipeline) and its creditors, the court announced in a statement. The release indicates that the choice regarding the settlement agreement is open to appeal. As the decision from May 9, 2025, is still not in effect, the cantonal court...
Google agrees to pay $1.4 billion to Texas in data privacy dispute - 05/12/2025
According to The New York Times, Google has consented to pay $1.375 billion to the state of Texas to resolve two lawsuits over accusations of breaching consumer protection laws. State officials charged the company with breaching data privacy, such as user location and facial recognition, according to Texas Attorney General Ken Paxton. “In Texas, large technology firms are subject to the law. For...
OpenAI to buy AI startup Exafunction for $3 bln - 05/08/2025
According to Bloomberg, citing sources, US AI firm OpenAI, creator of ChatGPT, has reached a deal to acquire Exafunction Inc. for approximately $3 billion. Exafunction is the creator of Windsurf (previously known as Codeium), an AI-based programming tool. As per the sources from the agency, the agreement has not been finalized yet. Exafunction recently engaged in discussions to secure funding...
Saudi low-cost carrier Flynas aims for $1 bln IPO - 05/08/2025
According to sources cited by Bloomberg, Saudi budget carrier Flynas anticipates conducting an IPO valued at $1 billion. Earlier, Flynas revealed that it plans to provide investors approximately 51.26 million shares in the IPO, with certain shares being sold by current shareholders, among them Saudi Prince Alwaleed bin Talal's Kingdom Holding Co. Overall, Flynas intends to offer securities...
Uber's net profit in Q1 beats forecasts - 05/07/2025
Uber Technologies, headquartered in the US and offering cab-hailing and food delivery services, reported a net profit for the first quarter of 2025, contrasting last year's loss, and surpassing market expectations. The firm's earnings, nonetheless, did not meet expectations. Uber announced a net income of $1.78 billion, equating to $0.83 per share, for the January-March quarter, in contrast to...
Tyson Foods sees lower quarterly net profit - 05/06/2025
US food producer Tyson Foods experienced a significant decline in net profit during the second quarter of fiscal 2025, although the adjusted amount exceeded analysts' predictions. The firm announced a net income of $7 million, or 2 cents a share, for the January-March period, a decrease from $145 million, or 41 cents a share, a year prior. Earnings without one-off factors reached 92 cents per...
