The board of directors of Alphabet, the parent company of Google, has approved a $70 billion buyback from investors. According to CNBC, Alphabet, Google's parent company, stated that its board of directors has approved a $70 billion share repurchase from investors, marking a substantial acceleration in the firm's aim to return investment to shareholders through share buybacks. When deciding on...

According to the United Kingdom and Hong Kong-based HSBC Holdings plc, the bank saw its first-quarter net profit drop 26.8% to $3.443 billion from since 2021. Diluted earnings per share were $0.14, down from $0.19 in January-March previous year. The banking group's revenue declined 4% to $12.464 billion over the period. Net interest income increased 7.4% year over year to $6.997 billion. Profit...

China's second-largest cellphone maker Honor Device Co. is seeking new sources of financing ahead of an IPO in 2022, Bloomberg says. Honor Device Co. wants to raise capital to expand ahead of its initial public offering, sources familiar with the discussions told the agency. According to them, former Huawei Technologies Co. is in talks with investors about a round of pre-IPO financing. The...

According to papers on the US Securities and Exchange Commission's website, Elon Musk, the American entrepreneur and founder of SpaceX and Tesla, is willing to pay $46.5 billion for Twitter and wants to begin negotiations right away to obtain a definitive deal. Morgan Stanley Senior Funding and numerous other financial institutions have agreed to lend Musk a total of $25.5 billion (with $12.5...

US electric car maker Tesla resumed production at its Shanghai plant on Tuesday after city authorities issued guidelines to restore production after a general lockdown due to the largest COVID-19 outbreak, China Daily reported on Wednesday. The plant's employees, numbering about 8,000, returned to their workplaces as early as Monday and Sunday, making it possible to resume work in the battery and...

Net income of the U.S. banking giant Bank of America Corp. (BofA), which is attributable to shareholders, fell 12.7 percent in the first quarter compared with the same period last year to $6.6 billion, the bank said in a statement. Diluted earnings per share for the period were $0.8 compared with $0.86 in the first quarter a year ago. Revenue net of interest expense was $23.228 billion, up 1.7...

In March, Boeing Co. received 53 orders for the supply of aircraft against 37 orders in February. American concern Boeing Co., one of the world's largest manufacturers of aviation, space and military equipment, in March received 53 orders for the supply of aircraft against 37 orders in February; the actual supplies jumped almost twice - up to 41 aircraft with 21 liners in February, follows from a...

The world's largest independent oil trader Vitol Group intends to completely stop selling oil and petroleum products from Russia, the Bloomberg agency reports with reference to the company's representative. According to the statement, the volume of Russian oil processed by Vitol, "will be significantly reduced in the second quarter as the current contractual obligations are falling down." The...

Due to withdrawal from Russian suppliers, the largest aircraft manufacturers began to buy titanium from Japan, writes Bloomberg. Japan's Toho Titanium Co. has begun receiving orders from U.S. aviation customers because Boeing has stopped buying from Russia. The Japanese company is hastily boosting production of the metal, which is used to make airplanes. Boeing Co. and Airbus SE are facing...