Companies & CEOs
Huawei loses more than a quarter of net profit in 2024 - 04/01/2025
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 substantial investments in research and development (179.7 billion yuan or approximately 20% of revenue) combined with low earnings from device sales. The...
SoftBank to invest over $1 trillion in American AI parks - 03/31/2025
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 travel to the U.S. to talk about his concepts for these parks. They are expected to employ autonomous AI robots because of the lack of human...
Sinopec discovers over 140 million tons of shale oil reserves in China - 03/28/2025
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, showing confirmed shale oil reserves that surpass 100 million tons. The area is situated in the Jiyang area of the Shengli oil field. The shale oil...
Chinese carmaker Chery to build plant in Turkey for $1 bln - 03/27/2025
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, according to a statement from the Turkish Ministry of Industry. Moreover, Chery intends to manufacture automotive parts at the facility. The initiative...
Court orders Bayer to pay nearly $2.1 billion in Roundup herbicide case - 03/25/2025
Jury in the US state of Georgia has issued a ruling favoring the plaintiff in the Roundup herbicide lawsuit, a Monsanto product that was bought by Germany's Bayer in 2018 for $63 billion. The ruling directs Bayer to pay a fine of $2 billion and compensation of $65 million, stated the company. Bayer has long been fending off allegations concerning the Monsanto purchase. Critics say that the...
Truck maker Iveco to sell defense segment for €1.5 billion - 03/24/2025
According to informed sources cited by Bloomberg, Italian truck manufacturer Iveco Group aims to sell its defense division for as much as 1.5 billion euros.v The firm is negotiating with possible purchasers, including Leonardo, which could place a bid together with Germany's Rheinmetall, its collaborator in a joint venture for tank production in Europe. The sources indicated that the JV might...
Deutsche Bank’s Premium Fund adds 25 per cent, hits 10-year high - 03/14/2025
The pool of bonus payments for employees at Germany's Deutsche Bank for 2024 rose by 25% to reach a decade-high of €2.5 billion, as stated in the bank's annual report. The overall sum of compensation rose by 8% to reach €11.1 billion. The count of employees stayed nearly the same. The total of employees earning over €1 million rose by 28 percent last year, reaching 647. The increase was also...
Spotify pays $10 billion in royalties in 2024 - 03/13/2025
Sweden's Spotify Technology, which runs the namesake music streaming platform, has disbursed $10 billion in royalties to artists and record labels in 2024. As stated in the company’s report, the payment amounts have risen tenfold since 2014, when royalties were $1 billion. Since its launch in 2008, Spotify has compensated copyright holders with $60 billion. According to MarketWatch, this is the...
Saudi Scopely to buy Pokemon Go video game developer for $3.5 billion - 03/13/2025
The Saudi firm Scopely Inc. has come to a deal with the American company Niantic Inc. to acquire its video game development division, which is known for launching the well-liked mobile game Pokemon Go. As per a press statement issued by the companies, the agreement's total will reach $3.5 billion. Scopely, which is owned by a branch of Saudi Arabia's Public Investment Fund (PIF), will acquire the...
Ford to allocate €4.4 billion to help its German division - 03/11/2025
Ford Motor Co. will assist its German division in reducing most of its debt and financing a plan to restore its operations. The U.S. car manufacturer plans to dedicate €4.4 billion to assist Ford Werke in lowering its debt, which is around €5 billion, to a more manageable figure, according to Managing Director Marcus Wassenberg in an interview with Bloomberg. Ford plans to allocate...
