American Amazon.com Inc., the leading online retailer globally, has made an offer to acquire the complete social network TikTok from Chinese company ByteDance, writes The New York Times, referencing sources. The proposal does not specify the of the social network's estimated value. Simultaneously, several stakeholders engaged in talks about altering TikTok's ownership structure reportedly view...

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...

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, 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 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...

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...

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...

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...

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...