Visa's net income for the first quarter increased by 17% year over year, to $4.3 billion. Earnings per share grew by 20% to $2.03. The growing profit is related to the after-pandemic rebound in the global travel industry. As a result, Visa processed 24% more cross-border payments compared to the first quarter of previous year. Compared to the same period in 2022, the company completed 50.1...

IT behemoth Microsoft Corp. said that its net income for the first nine months of its fiscal 2022–2023 year, which ended on March 31, 2023, decreased 6.6 percent year over year to $52.28 billion. The three quarters' combined revenue rose 6.4% year over year to $155.726 billion. For the period, diluted earnings per share decreased to $6.99 from $7.41 a year earlier. In the third quarter of the...

Credit Suisse counted almost $69 billion in capital outflow during the first quarter as the Swiss bank was dealing with a crisis. The bank said that the outflows reduced after the decision to acquire UBS, but have not yet ceased. The bank's financial statement press release states that Credit Suisse recorded a net outflow of 61.2 billion Swiss francs ($68.6 billion) during the first quarter....

According to South Korea's Yonhap News Agency, American streaming giant Netflix announced that it would spend $2.5 billion in the Republic of Korea over the next four years to produce South Korean TV series, movies, and shows. The service reportedly revealed its plans following a meeting between Netflix co-CEO Ted Sarandos and President of the Republic of Korea Yoon Suk-yeol after the South...

According to Bloomberg, Credit Suisse has filed a lawsuit against Softbank Group in the High Court, seeking $440 million from the Japanese business. The lawsuit is a component of the Swiss bank's strategy to reimburse investors for the money they lost as a result of Greensill Capital's crash. In March 2021, Greensill Capital, a British fintech business, filed for bankruptcy. The business had been...

Taiwan Semiconductor Manufacturing Co. (TSMC), the largest semiconductor manufacturer in the world, is asking for $15 billion in U.S. subsidies, but the conditions are unsatisfactory because the company does not intend to give the U.S. authorities a portion of its profits and reveal sensitive information, according to the Wall Street Journal. The newspaper reported, quoting sources, that "the...

German insurance giant Allianz has decided to sell its ownership interest in fintech startup N26, the Financial Times writes. According to sources cited by the Financial Times, the German insurance company Allianz has listed its ownership interest in the fintech startup N26 for sale. Handelsblatt notes that the company's venture capital investment arm, Allianz X, currently owns 5.3% of N26. The...

According to a press release from the firm, oil production has begun in the subsea field Bauge in the Norwegian Sea, whose reserves are thought to be 50 million barrels of oil equivalent. "On April 8, production commenced at the Norwegian Sea's Bauge field. It is connected to the freshly updated Njord platform by the Bauge field. The research states that the recoverable reserves at Bauge are...

The Paris court found Airbus and Air France not at fault In the accident of flight AF447 from Rio de Janeiro to Paris on June 1, 2009. All 228 passengers of the aircraft perished in the collision. It was the biggest crash in Air France's history. According to Reuters, the punishment was given in France's first-ever corporate manslaughter trial. The maximum fine that may be imposed under this...