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Companies & CEOs

Huawei loses more than a quarter of net profit in 2024

TOZE Canaveira
In 2024, Chinese Huawei Technologies' net profit dropped by 28% to 62.6 billion yuan ($8.63 billion) compared to the previous year, according to a report from the company, as reported by Reuters. A company representative clarified this due to...

SoftBank to invest over $1 trillion in American AI parks

MIKI Yoshihito
Japan's SoftBank Group intends to establish industrial parks for artificial intelligence (AI) in the United States and is contemplating investments exceeding $1 trillion, according to Nikkei. SoftBank's founder and CEO Masayoshi Son is expected to...

Sinopec discovers over 140 million tons of shale oil reserves in China

David290
Sinopec, China's biggest oil refining firm, stated that it has found over 140 million tons of confirmed shale oil reserves in Shandong Province, according to Xinhua. This is the initial area certified by China's Ministry of Natural Resources,...

Chinese carmaker Chery to build plant in Turkey for $1 bln

Jeremy
Chinese car manufacturer Chery Automobile Co. intends to establish an electric vehicle manufacturing plant in Turkey with an investment of $1 billion. Chery's facility in Turkish Samsun is expected to manufacture 200 thousand vehicles each year,...
Markets & Industries

Goldman Sachs downgrades its S&P 500 outlook for the second time in a month

QuoteInspector.com
David Kostin, a strategist at Goldman Sachs Group, has reduced his target estimate for the U.S. S&P 500 index for the second time within a month, according to Bloomberg, citing the analytical report. Previously, on March 11, Kostin revised his...

Analysts: Share of Chinese electric cars in Europe falls to 2 years-low

Ivan Radic
In February, the percentage of Chinese electric vehicles in the overall sales of these cars in Europe dropped to the lowest level in two years because of trade restrictions. As reported by the analytical firm Dataforce, it declined to 6.9% from 7.8%...

Goldman Sachs raises forecast for the value of gold by the end of 2025

picryl
Analysts from Goldman Sachs Group increased their gold price prediction for the end of 2025 to $3300, as reported by Bloomberg, referencing a research note. This marks the second upward adjustment in Goldman Sachs' prediction for the precious metal...

Bloomberg: Major commodity and energy traders admit the possibility of returning to Russia

picryl
Several leading commodity and energy trading firms may anticipate their return to Russia if the sanctions are removed, according to Bloomberg. The agency notes that some of them are still skeptical about the possibility of such a scenario occurring...
In-depth coverage

Mittelstand, Germany’s Hedge Against Crisis

It’s a stormy weather for Europe's biggest economy right now: Germany is facing a recession as high energy costs are becoming a huge burden, for the country's industrial companies especially. All this would be spelling trouble for the entire region if not for the Mittelstand, a bunch of stable German businesses that keep working hard and inspire others.When it comes to discussions about a Germa...
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World & Politics

European Commission: We have a “powerful plan” in case new US duties

openDemocracy
European Commission President Ursula von der Leyen stated that the EU is prepared to react to potential new US tariffs that could be revealed on Wednesday, April 2. She believes that Brussels did not initiate this conflict with Washington and views...

Court in Paris sentences Marine Le Pen to four years in prison

The Russian Presidential Press and Information Office
The Paris correctional court convicted Marine Le Pen, the leader of the parliamentary group of the National Rally party, to four years in prison, with two of those years on probation, according to Le Monde. She is additionally penalized with a...

Iran prepares missiles for response to the U.S.

Blondinrikard Fröberg
According to the Tehran Times, Iran has positioned missiles underground in response to threats from the U.S. President Donald Trump. “Iran's military has readied missiles that can hit the U.S.-linked sites in response to Trump's ongoing threats of...

European Commission chief regrets US imposition of high duties on cars

Dati Bendo
Ursula von der Leyen, the head of the European Commission, has voiced her disappointment regarding US President Donald Trump's 25% tariffs on all foreign-made cars. “I profoundly regret the US choice to impose tariffs on European car exports. (...)...
Management & Strategy

British Steel to lay off more than 2,000 employees

British Steel to lay off more than 2,000 employees
British Steel company may close two plants in the town of Scunthorpe in June this year, which could lead to the dismissal of more than 2 thousand employees, writes the Financial Times. In total, the company employs about 4.5 thousand people....

Brand Finance: Chinese banks remain leaders in bank brands rating

Can Pac Swire via flickr
According to the annual 2025 report “Brand Finance Banking 500”, four Chinese representatives continue to lead in brand value among global banks. The Industrial & Commercial Bank of China (ICBC) ranks first, with its brand value increasing by...

Lip-Bu Tan to become new head of Intel

JiahuiH
Intel Corp. disclosed selection of Lip-Bu Tan as the new chief executive officer of the company. According to a press release from Intel, he will assume the role on 18 March, succeeding interim CEOs David Zinsner and Michelle Johnston Holthaus....

KPMG promotes merger of dozens of national member firms in its global network

www.solvencyiiwire.com
KPMG management is advocating for the consolidation of numerous national member firms within its global network, believing it will foster business growth and reduce the likelihood of audit scandals, reports the Financial Times, referencing sources....