Companies & CEOs
BAE Systems reports record arms orders - 02/21/2025
British defense firm BAE Systems announced that its order backlog for different kinds of weapons hit a record £77.8 billion ($98.1 billion) at the close of last year, marking an 11% increase from 2023. These numbers are included in the company’s financial statements for 2024. Its annual revenue increased by 14% to £26.3bn ($33.2bn), and operating profit grew by 4% to £2.7bn ($3.4bn). After this...
Mercedes-Benz cuts forecasts after weak 2024 results - 02/21/2025
Mercedes-Benz leadership seeks to reduce expenses by 10% by 2027 while also aiming for improved sales and profitability in a fiercely competitive automotive industry. The firm revealed this subsequent to releasing unsatisfactory yearly outcomes and bleak projections for 2025. In 2024, Mercedes-Benz experienced a 4% decline in revenue to €145.6 billion, a 24% decrease in earnings per share to...
AI startup Safe Superintelligence plans to raise its valuation to $30 billion - 02/19/2025
Artificial intelligence startup Safe Superintelligence (SSI), co-founded by Ilya Sutskever, a former lead researcher at OpenAI, is seeking to raise over $1 billion in its funding round, with a valuation exceeding $30 billion, according to a Bloomberg report that references an informed source. The updated valuation ranks SSI among the priciest private tech firms globally. According to sources...
Saudi Arabia signs $1 billion deal with DAZN streaming service - 02/19/2025
SURJ Sports Investment (SURJ), a prominent sports investment company, has consented to purchase a minority share in DAZN, a worldwide frontrunner in sports entertainment. “Both companies are dedicated to sports by providing access to premier sports broadcast rights globally,” SURJ stated in a release on its official site. Under the agreement, SURJ and DAZN will collaborate closely to establish...
Tencent's stock price soars to its highest since 2021 after introducing DeepSeek to WeChat - 02/18/2025
Shares of the Chinese tech firm Tencent surged in Hong Kong trading to their highest level since 2021 following the launch of an artificial intelligence model from DeepSeek in its leading messenger WeChat, Bloomberg reports, citing trading statistics. On February 17, Tencent's shares soared by 7.8% at their peak, but by the end of trading, the increase slowed to 4%. Bloomberg highlights that the...
Volkswagen to discuss exemptions with the U.S. in light of the imposition of duties - 02/17/2025
Volkswagen, the German automotive manufacturer, intends to discuss with US President Donald Trump's administration exemptions if the US enforces tariffs on the European Union, according to the company's CEO Oliver Blume. Trump has stated in the past that he would implement tariffs on EU products because he feels that Brussels treats Washington "very poorly." A representative from the European...
Berkshire Hathaway sells $31.7 million worth of shares in dialysis provider DaVita - 02/17/2025
Billionaire Warren Buffett of Berkshire Hathaway sold 203,091 shares of DaVita, a pharmaceutical company offering kidney dialysis services, according to Reuters, referencing documents submitted to the U.S. Securities and Exchange Commission (SEC). On February 11, Berkshire divested DaVita shares for $156,011 each. The worth of the sold share was $31.68 million. Currently, Berkshire's ownership in...
Microsoft-backed startup raises $160 million to remove carbon through forests - 02/13/2025
Microsoft-supported startup Chestnut Carbon has secured $160 million to plant and revitalize trees on degraded farmland, thus integrating carbon credits for its clients, Bloomberg reports, referencing a company statement. Carbon credits are documents that verify the decrease or elimination of carbon dioxide in the atmosphere: one credit equals one ton of gas. If a company surpasses a designated...
Siemens Energy assembles record €131 billion order book - 02/13/2025
The German energy equipment producer Siemens Energy has released its outcomes for the initial quarter of fiscal year 2025. The firm obtained orders totaling €13.7 billion, and the complete collection of orders that have been received but not finished reached an unprecedented €131 billion. The firm credits this increase to a rise in demand for energy apparatus, such as gas and wind turbines,...
Gucci's sales in 2024 fell by 23% - 02/12/2025
The French holding company Kering, which owns fashion brands like Yves Saint Laurent, Gucci, Balenciaga, Bottega Veneta, Alexander McQueen, among others, today announced its results for the fourth quarter and the entire year of 2024. The overall revenue for the year amounted to €17.2 billion, a decrease of 12% compared to 2023. The group's net earnings decreased by 62% to €1.1 billion. The...
