According to the Financial Times, the European Commission may thwart International Consolidated Airlines Group S.A.'s (IAG) acquisition of the Spanish airline Air Europa. The corporations haven't done enough, according to the newspaper's sources, to allay the European Commission's worries about the deal's potential to reduce competition in the European market. The FT's sources say that EC...

The Financial Times reports, citing the company's annual report, that the British Broadcasting Corporation (BBC) intends to fire roughly 500 workers as part of a cost-cutting initiative. The BBC receives funds from the necessary annual charge of 169.5 pounds ($219) paid by every British citizen with a TV set at home. The annual report indicates that at the end of the previous year, there were...

The Swiss business Nestle Waters has been illicitly filtering tainted water and marketing it as "natural mineral water" since the 1990s, writes the French online site Mediapart. According to experts, the company's actions over the last 15 years have created damage worth €3 billion. The corporation’s representative expressed their disagreement with both the numbers and the computation process. A...

According to a statement from the company, the Swedish home appliance manufacturer Electrolux Group has agreed to sell its Kwikot water heater division in South Africa for 2.4 billion rand ($130 million). The division will be sold to Haier Smart House. It is anticipated that the transaction would finalize in this year's fourth quarter. Electrolux's profitability will be negatively impacted by...

Two Chinese solar panel manufacturers and Saudi investors will invest about $3 billion to establish panel production facilities in Saudi Arabia, according to MarketWatch. China's TCL Zhonghuan Renewable Energy Technology will sign a joint venture with Saudi renewable energy company Vision Industries and a Public Investment Fund (PIF) unit. They will invest a total of roughly $2.08 billion. TCL...

Apple Inc.'s revenue in India climbed by almost 33% to nearly $8 billion in the most recent fiscal year, which concluded in March, according to Bloomberg referring to sources. Apple is required to give local authorities sales statistics for each country, even though it does not include that information in its reports. Sales of smartphones accounted for more than half of Apple's income in India,...

Microsoft and US-based Occidental (Oxy) have reached an agreement for the sale of 500,000 tons of carbon dioxide removal credits over a six-year period through 1PointFive, a subsidiary. The "carbon credits" in the form of certificates grant the authority to emit one ton of CO2 equivalent. They are given to companies who lower their emissions or contribute to the removal of carbon dioxide from the...

Following their discovery that Citigroup Inc. had neglected to address persistent internal control issues, US regulators fined the bank $135.6 million. The Office of the Comptroller of the Currency (OCC) and the Federal Reserve (the Fed) determined that Citigroup had broken the conditions of a 2020 agreement, which required it to modify its risk management systems. "Citigroup made insufficient...

In an environmental report, Google stated that it was unable to lower its CO2 emissions in 2024 due to rising energy consumption from data centers and artificial intelligence. In 2023, Google recorded 14.3 million tons of CO2 emissions, up 13% from 12.6 million tons in 2022 and 48% from 9.7 million tons in 2019, the base year. The company admitted that "scaling AI and using it to accelerate...