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Companies & CEOs

Uber increases its net profit 12 times in Q3

quotecatalog.com via flickr
In the third quarter, Uber Technologies, a company located in the United States, experienced a twelve-fold increase in its net profit while offering taxi booking and food delivery services. The firm disclosed earnings of $2.61 billion, or $1.2 per...

American Express increases revenue in Q3 to record high

Marcus Quigmire
Amex, a top player in the U.S. credit card industry, saw a 2% rise in net profit and an 8% increase in revenue during the third quarter, reaching an all-time high. According to a press release by Amex, net income increased to $2.51 billion in the...

General Motors to invest $625 million in lithium mining

Free Malaysia Today
General Motors, a U.S. car manufacturer, is set to form a partnership with Lithium Americas Corp, a mining company based in Canada, and will inject $625 million into the collaboration. As per a collaborative announcement, the joint venture will...

Amazon announces major investment in nuclear power

@Epicsunwarrior
The Climate Pledge Fund from Amazon has spearheaded a $500 million investment in X-energy, a company working on small modular reactors (SMRs), as per X-energy's press office. In collaboration, Amazon and the startup plan to introduce over 5 GW of...
Markets & Industries

World Bank expects commodity prices to hit 5-year low in 2025

StockSnap.io
The World Bank's Commodity Markets Outlook predicts that global commodity prices may drop to a five-year low by 2025 due to an excess of oil supply. WB analysts wrote that the surplus is so significant that it will probably restrict the price...

Saudi state investment fund to cut its foreign investments share

Juber Al-haddad
The Financial Times reports that Saudi Arabia's Public Investment Fund (PIF) plans to decrease foreign investments by approximately one third. Yasir Al-Rumayyan, the head of PIF, mentioned at the Future Investment Initiative conference in Riyadh on...

Sales of electric cars in the U.S. in Q3 add 11%, hit record high

Ivan Radic
According to Cox Automotive, electric vehicle sales in the U.S. during the third quarter rose by 10.7% from the previous year to a new high of 346,408 units. Therefore, their share of total car sales in the nation has increased to 8.9% from 7.8% in...

China's central bank introduces credit and swap facility to support stock market

Max12Max
China's central bank, the People's Bank of China (PBOC), has implemented a specific credit program to assist businesses and major stakeholders in purchasing their own stocks. The PBOC announced a program worth 300 billion yuan ($42.1 billion) in...
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...
>>> Zoom on Earth
World & Politics

Reuters: Swing states in the US brace for conspiracy theories and violence

ccnull.de
According to Reuters, officials in Philadelphia, Detroit, and Atlanta are working to avoid a recurrence of the '2020 chaos' following Donald Trump's refusal to accept his election loss. The agency reports that officials in these and other cities in...

France's GDP growth accelerates thanks to the Olympics

goodfon
France's GDP growth accelerates thanks to the Olympics Economic growth in the second quarter of the year was 0.2 per cent. Insee observes that internal demand is 'showing signs of improvement, driven by a resurgence in household spending'. It...

Eurozone GDP up 0.4% in Q3, twice as strong as forecast

Santeri Viinamäki
The European Union's statistics office reported preliminary data showing a 0.4 per cent growth in Eurozone GDP in the third quarter of 2024 compared to the previous three months. The eurozone economy saw a growth of 0.9 percent on a yearly basis....

North Korea confirms launch of intercontinental ballistic missile

Mark Scott Johnson
Pyongyang has confirmed the launch of an intercontinental ballistic missile towards the Sea of Japan on Thursday morning. The missile department of North Korea carried out a significant test on Thursday. According to a spokesperson from the DPRK...
Management & Strategy

Dropbox will cut about 20 per cent of its staff

Ian Lamont via flickr
The US-based company Dropbox Inc, known for the cloud storage service of the same name, intends to reduce its workforce by roughly 20%. The company stated on the US Securities and Exchange Commission (SEC) website that the measures aim to reorganize...

Gorman to head Walt Disney board of directors

Greg Beadle
The company announced that James Gorman has been named as the chairman of the board of directors of Walt Disney Co. of America. He will assume the position from Mark Parker in early 2025. Gorman will lead the board of directors of Morgan Stanley...

Boeing withdraws pay proposal for striking workers

free malaysia today
The Financial Times reports that U.S. Boeing Co. withdrew its offer to compensate striking International Association of Machinists and Aerospace Workers (IAM) members. In late September, it was announced that discussions on a new collective...

Boeing and striking workers’ union to resume talks

The Lamb Family
Boeing Co. from the US and the International Association of Machinists and Aerospace Workers (IAM) started negotiations again for a new collective bargaining agreement, as reported by Barron's. By not voting on Boeing's 'final offer,' the union has...