Health Care Service Corp. (HCSC) will purchase US health insurer Cigna Corp.'s Medicare national insurance program business and subsidiary CareAllies, which provides services to healthcare organizations, for about $3.7 billion, the company announced. It is anticipated that the deal would be finalized in 2025's first quarter. Share repurchases will be financed mostly by the proceeds. For the...

The US holding corporation Alphabet Inc., which controls Google, announced in a release that its net profit for 2023 climbed by 23% year over year to $73.795 billion. For the period, diluted earnings per Class A, B, and C share were $5.8, up from $4.56 in the prior year. The company's revenue grew by 8.6% to $307.394 billion in the previous year. Alphabet's fourth-quarter net income rose by 1.5...

The American electric vehicle manufacturer Tesla Inc. stated in its annual report that its capital expenditures would surpass $10 billion in 2024 and fall within the range of $8 billion to $10 billion over the following two years. The amount increased from $7.16 billion in 2022 to $8.9 billion in 2023. Tesla stated in a filing submitted to the U.S. Securities and Exchange Commission (SEC), "We...

Ryanair, the biggest budget airline in Europe, and Enilive, a division of Eni, have inked agreements of intent to deliver SAF clean-burning biofuel between 2025 and 2030 to many Italian airports that the Irish airline serves. The goal is to sell 100,000 tons (33 million gallons) of fuel during those years, which is the same as 20,000 flights from Milan-Malpensa Airport to Dublin, according to a...

The American media business Skydance is thinking about purchasing all of its larger rival Paramount Global's shares in order to delist them later, reports CNBC citing sources. The sources state that the corporations have not started the due diligence process, despite exchanging preliminary information. The Wall Street Journal reported in mid-January, citing sources, that Skydance and its...

Nokia Corp., the Finnish manufacturer of telecom equipment, saw a 23% decline in revenue in the fourth quarter of 2023 and an unanticipated loss at the end of the quarter. In contrast to its €3.152 billion profit the previous year, Nokia reported a net loss of €33 million from October to December. Comparatively speaking, it reported a profit of €568 million as opposed to €929 million in the...

The state-owned energy firm of the United Arab Emirates, Abu Dhabi National Oil Co. (ADNOC), plans to raise its investment in decarbonization projects by over 50%. The company announced in a statement that the board of directors has increased the budget for these activities to $23 billion. ADNOC has previously stated that by the end of 2030, it intends to invest $15 billion in low-carbon...

According to analysts at Bank of America, the "Magnificent Seven" technology companies—American Apple Inc., Microsoft Corp., Meta, Amazon.com Inc., Alphabet Inc., and Nvidia Corp.—as well as Tesla, comprise the majority of the growth in profits of Standard & Poor's 500 companies in the fourth quarter of 2023. The bank forecasts that last quarter's profits of index components decreased in the...

The final two blast furnaces at the Indian steelmaker's Port Talbot facility in South Wales will be shut down. The corporation has issued a press release stating that up to 2.8 thousand people will be let go, with 2.5 thousand of those lost over the course of the following 18 months. Tata Steel intends to transition to more ecologically friendly methods of producing steel, which includes...