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Companies & CEOs

Norway's sovereign wealth fund intends to reduce the share of government bonds in its portfolio

Norway's sovereign wealth fund intends to reduce the share of government bonds in its portfolio
The Government Pension Fund of Norway, the largest sovereign wealth fund globally with $2.3 billion in assets, has suggested decreasing the proportion of government bonds in its portfolio, mainly by transitioning to US Treasury bonds, according to...

Microsoft to begin disclosing Azure cloud revenue in monetary terms

Microsoft to begin disclosing Azure cloud revenue in monetary terms
According to the company presentation, Microsoft will start revealing quarterly revenue figures for its Azure cloud operations in financial terms. This choice is a component of a significant reform of Microsoft's reporting framework, which has been...

IKEA to lower prices on hundreds of products in Europe

IKEA to lower prices on hundreds of products in Europe
Swedish IKEA plans to reduce prices on numerous items across Europe to enhance affordability for customers dealing with increasing living expenses. IKEA announced that these price cuts will lead to a total expense of €1.2 billion. "These...

Eli Lilly to acquire biotech Merida Biosciences for $2.9 billion

Eli Lilly to acquire biotech Merida Biosciences for $2.9 billion
Eli Lilly & Co., a pharmaceutical firm, intends to purchase biotech Merida Biosciences, known for creating therapies for autoimmune and allergic conditions, according to a company statement reported by Bloomberg. Eli Lilly is set to pay as much...
Markets & Industries

Smartphone and laptops rise in prices due to RAMageddon

Smartphone and laptops rise in prices due to RAMageddon
The Financial Times reports that smartphones, laptops, and gaming consoles have increased in cost due to "RAMageddon" (Random Access Memory, or RAM) or "RAMpocalypse," the lack of dynamic random access memory (DRAM) chips. The lack of DRam...

FT: Major US banks demand law firms lower fees due to AI

FT: Major US banks demand law firms lower fees due to AI
Top financial institutions in the US are urging prominent law firms to reduce their charges. According to the Financial Times, citing banking industry sources, banks are convinced that the business model that has benefited law firms for years is no...

Profits of the largest companies grows by $160 billion due to investments in AI firms

Profits of the largest companies grows by $160 billion due to investments in AI firms
According to the Financial Times, utilizing data from issuer financial statements, the largest tech companies generated more than $160 billion in the second quarter of 2026 from investments in firms related to artificial intelligence. Alphabet,...

Von der Leyen proposes using European savings to develop EU economy

Von der Leyen proposes using European savings to develop EU economy
European Commission President Ursula von der Leyen suggested utilizing European savings to boost the EU economy. She stated that Europe possesses savings that are "sitting unused." "Currently, €10 trillion in personal savings is resting in bank...
In-depth coverage

European Tech Sovereignty: Europe Enters the Era of Exascale with the Inauguration of the Jupiter Supercomputer

Europe has taken a giant leap in technological development and supercomputing sovereignty with the launch of its first exascale computer in Germany. JUPITER, built using American chips but set to develop further with the integration of European microprocessors in 2026, is capable of performing over one quintillion (10¹⁸) operations per second, immediately cementing its place as Europe’s mos...
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World & Politics

Bloomberg: US-Venezuela oil deal came as a surprise to US companies

Bloomberg: US-Venezuela oil deal came as a surprise to US companies
Numerous US energy firms were not informed ahead of the impending US-Venezuela oil agreement that includes North American Blue Energy Partners (NABEP) CEO Alejandro Betancourt, according to Bloomberg, referencing sources. The deal with Betancourt,...

France experiences its hottest summer in 126 years

France experiences its hottest summer in 126 years
The summer of 2026 in France was recorded as the warmest in the nation's meteorological history, said French Minister of Ecological Transition Monique Barbut on Thursday. According to BFM TV, she stated that the country has endured the hottest...

G20 countries fail to agree on joint communiqué over China

G20 countries fail to agree on joint communiqué over China
According to US Treasury Secretary Scott Bessent, China was the sole G20 member that rejected all the aspects of the joint communiqué created after the gathering of G20 finance ministers and central bank governors. "I was looking forward to...

Transit through the Strait of Hormuz drops to five ships per day

Transit through the Strait of Hormuz drops to five ships per day
Al Jazeera reported, referencing shipping data, that the daily count of ships transporting cargo through the Strait of Hormuz fell to five over the weekend. Nonetheless, the true count of vessels passing through the strait could be greater, as...
Management & Strategy

Volkswagen's board of directors approves 50,000 job cuts

Volkswagen's board of directors approves 50,000 job cuts
The Volkswagen Board of Directors has sanctioned a restructuring initiative that involves eliminating as many as 50,000 positions and halting vehicle manufacturing at four facilities in Germany, according to the Associated Press. The company stated...

Ackman to donate 10 million Pershing Square shares to Brain Institute

Ackman to donate 10 million Pershing Square shares to Brain Institute
Billionaire Bill Ackman and his spouse, Neri Oxman, plan to give 10 million shares of the hedge fund Pershing Square to support the brain research center he established in New York, according to Bloomberg, referencing a social media update from...

The Porsche family demands swift restructuring of Volkswagen

The Porsche family demands swift restructuring of Volkswagen
Porsche Automobil Holding (Porsche SE), the holding company overseen by the Porsche family and owning 53% of the voting shares in the Volkswagen Group (VW), has insisted that the automaker implement a prompt restructuring. Porsche SE CEO Hans Dieter...

Intel plans job cuts in data center division

Intel plans job cuts in data center division
Intel Corp., a top manufacturer of computer components globally, is reportedly planning another wave of layoffs, according to CNBC, referencing a company representative. Intel has reduced around 5,000 jobs in the U.S., mainly in California and...