Anthropic, an AI business, has received a $2.75 billion investment from Amazon, which raised the share of Amazon’s investment in the company to $4 billion. According to a statement from Anthropic, Amazon will invest $2.75 billion in the business, Bloomberg reports. According to the agency, Amazon is wrapping up an agreement from 2023 to help the artificial intelligence startup and deepen their...

According to the Economy and Finance Ministry of Italy, the government has sold securities worth €650 million to lower its interest in Banca Monte dei Paschi di Siena as part of a previously agreed plan. 157.5 million Monte Paschi shares were sold by the state for 4.15 euros each, which is 2.5 percent less than their closing market value on Tuesday. The papers were offered to Italian and...

After nearly 20 years of litigation, Visa Inc. and Mastercard Inc. achieved a deal with the U.S. merchant industry that included a reduction in interchange fees on credit cards. According to Visa, small enterprises make up more than 90% of the community. The deal will lower interchange rates for merchants in the United States and will maintain them there for five years. The conditions of the...

International trader Vitol reduced its supply of oil and oil products by 2.5 times in 2023, from 7.4 million barrels per day to 3 million barrels per day. 546 million tons of oil equivalent were delivered overall, an increase of 4% over 2022. Increased deliveries of LNG and natural gas were the main cause of the increase. Due to decreased oil prices, Vitol's revenue decreased by over 21% to...

One of the biggest FMCG companies in the world, British-Dutch Unilever, intends to split off its ice cream division into a different business. The procedure will start soon and be finished by the end of 2025. In 2023, Unilever's ice cream division brought in €7.9 billion in revenue. Among the top ten global brands owned by the division are Wall's, Magnum, and Ben & Jerry's. Following the...

JPMorgan Chase & Co. was fined $348.2 million by the Office of the Comptroller of the Currency and the Federal Reserve System for lacking adequate oversight over trading activities. Regulators stated that the fine from the Fed was $98.2 million and $250 million from the OCC. The bank was penalized due to a "non-compliant program to monitor trading activity of firms and customers for unfair...

Xinhua News Agency writes that Apple Inc. intends to build a new lab in Shenzhen and expand its applied research facility in Shanghai by 2024. According to Isabel Ge Mahe, vice president and managing director of Apple for the region, these labs facilitate materials research and R&D while offering data to engineering and design teams globally. She noted that the corporation established...

The Saudi state-owned oil corporation, Saudi Arabian Oil Co. (Saudi Aramco), reported its second-highest net profit in company history in 2023. Net profit for the corporation last year was $121.3 billion in contrast to a record $161.1 billion the previous year, according to a press release from the company. Reduced sales volumes and oil prices were two of the main causes of the fall. Compared...

According to a press release from the European Commission (EC), Apple Inc. has been fined more than €1.8 billion for abusing its dominant position in the music streaming services market for the iPhone and iPad. The watchdog discovered that Apple has been preventing third-party application developers from notifying customers about less expensive music subscription services available outside of the...